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Old 05-08-2009, 03:45 PM   #1
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Should I jump on this deal?

first off i want to know if im reading something wrong here or is this correct.
Just got an email from my dealership about a 0 down 0 APR for 60 months and no payments till june deal. So i did the calculation estimate. I put in there that I would put 4 grand down at 0APR trade in for 5-600 dollars (93 Corolla) and then it says Monthly payments will be 72.77. Question is is that 72.77 a month a real thing or am I dream orrrrrr is there something behind that. My Birthday is May 23rd by the way, and this would be a sweet present.
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Old 05-08-2009, 03:49 PM   #2
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More like $72.77 per week!
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Old 05-08-2009, 03:50 PM   #3
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More like $72.77 per week!
for real? cause it had 72.77/mo
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Old 05-08-2009, 03:51 PM   #4
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You may want to check your math buddy....You are a few hundred off!! at least.
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Old 05-08-2009, 03:51 PM   #5
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WHA! 72 bucks a month. Impossible. How much is the car?
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Old 05-08-2009, 03:52 PM   #6
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Wait...$72.77 a month for a 2010 Camaro?
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Old 05-08-2009, 03:52 PM   #7
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23,040
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Old 05-08-2009, 03:53 PM   #8
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anyone have one of those links to the payment calculator?
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Old 05-08-2009, 03:53 PM   #9
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does not compute since we are missing the amount you intend to finance. If you told me you were buying a Camaro 1LT for $24,000 less your $4500 for trade and down payment, then you would be paying $325.00 per month + TTL. (balance of $19,500/60 payments = $325.00/mo.) PLUS T T AND L!!

So, just saw your numbers: $23,040 - 4000 down - 500 trade = $18,540 + tax title and lic. Divide the $18,540 by 60 payments and you get $309.00/month plus tax, title and lic. fees.
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Old 05-08-2009, 03:54 PM   #10
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at 0% you are paying 16.67 per thousand financed for 60 months. So do your own math. I have starte ddrinking so I am not trying math!!!
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Old 05-08-2009, 03:54 PM   #11
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well with the combination of no 0% down, and the mathematical impossibility of $72.77 with that kind of down payment, i would say somethings wrong.
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Old 05-08-2009, 03:55 PM   #12
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I will bet you he did it in a mortgage calulator for like 30 years or something...
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Old 05-08-2009, 03:56 PM   #13
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I got somewhere around 300 a month with this calculator.. Buddy if there was a way to get a 2010 camaro for 72 a month, I would have two right now...

Here is the site i did a search for and used for my calc....

http://www.cars.com/go/advice/financ...c/loanCalc.jsp
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Old 05-08-2009, 03:56 PM   #14
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Ya i found something wrong, I used the edmunds cacluator instead of what was on the GM site, and it came up with around 379 a month.
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Old 05-08-2009, 03:58 PM   #15
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I did it...got about $357/month...I used $24k...didn't include taxes and licensing..

http://www.bankrate.com/calculators/...alculator.aspx

If you wanted to pay $72.77...the car would have to be $8,209 lol
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Old 05-08-2009, 04:00 PM   #16
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Quote:
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Ya i found something wrong, I used the edmunds cacluator instead of what was on the GM site, and it came up with around 379 a month.
It really sucks when reality hits you and the face and the curbstomps you. But our time will come. I'm still saving. I feel like i've been saving for soo long..
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Old 05-08-2009, 04:00 PM   #17
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I did it...got about $357/month...I used $24k...didn't include taxes and licensing..

http://www.bankrate.com/calculators/...alculator.aspx
Thats strange mines came up to about 379, with 4grand down 0 APR and 500 trade in.
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Old 05-08-2009, 04:01 PM   #18
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Umm, doubtful. What is your loan amount? At zero APR, To get close, just divide the loan amount by 60. Unless you're getting your car for $4366.20 + $4K I don't think you're doing the loan amount right.
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Old 05-08-2009, 04:05 PM   #19
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Wait...how did you get 0% APR? I asked and was denied! Anyone else get 0% APR???!?!?!?!
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Old 05-08-2009, 04:07 PM   #20
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60 months (5 years)

Not 60 years.....that would equal out about right
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Old 05-08-2009, 04:07 PM   #21
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Quote:
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anyone have one of those links to the payment calculator?
Since there is no interest you don't need a payment calculator. This is simple math.
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Old 05-08-2009, 04:10 PM   #22
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23040 - 4000 - 500 = 18540/60 = $309/mo.
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Old 05-08-2009, 04:12 PM   #23
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Wait...how did you get 0% APR? I asked and was denied! Anyone else get 0% APR???!?!?!?!
the 0 APR is a special deal in my area.
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Old 05-08-2009, 04:18 PM   #24
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the 0 APR is a special deal in my area.
CRAP! WHY!

I wanted my Camaro 0%...oh well...
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Old 05-08-2009, 04:23 PM   #25
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the 0 APR is a special deal in my area.

There are alot of finance companys offering 0% for cars lately.... Just remember you have to have excellent credit to get that rate.


"Credit scores generally range from the mid 300s to the mid 800s. The following table will give you a general idea of what your score tells lenders, but remember there are no set rules. Different products and lenders use different guidelines for what is an acceptable score. Also, there will usually be differences in the scores calculated by each of the three credit bureaus. Lenders will often use the middle of your three scores.

Above 730 Excellent credit
700 - 729 Good credit
670 - 699 Lender will take a closer look at your file
585 - 669 Higher risk; you will not be eligible for the best rates and products. Credit products may not be available.
Below 585 Credit options will be limited or not available. Lender will need to consider other information in your application."
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