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GoEagles88 · 06-01-2013, 09:55 AM

No more car payments for me, but a good rule of thumb that has served me well over the years is this:
Total amount you finance payment
15000 300
20000 400
25000 500
30000 600
These figures are in rough terms, but they are fairly accurate for 5 year terms. For every 5000 in loan value you can add 100 to your monthly payment. Easy to remember and easy to figure out what you'll pay. If you go 6 years, it won't work. Frankly though in my opinion, 72 months will take forever for you to build any equity (not be upside down) in the vehicle and should be avoided unless you have no other option.

06-01-2013, 09:55 AM	#59
GoEagles88 Drives: 2012 Camaro 2LT RS Convertible Join Date: Mar 2013 Location: Baton Rouge, LA Posts: 31	No more car payments for me, but a good rule of thumb that has served me well over the years is this: Total amount you finance payment 15000 300 20000 400 25000 500 30000 600 These figures are in rough terms, but they are fairly accurate for 5 year terms. For every 5000 in loan value you can add 100 to your monthly payment. Easy to remember and easy to figure out what you'll pay. If you go 6 years, it won't work. Frankly though in my opinion, 72 months will take forever for you to build any equity (not be upside down) in the vehicle and should be avoided unless you have no other option. __________________ 2012 RS 2LT Convertible in Inferno Orange It's my wife's car. I just get to keep it clean.