Auto Loans and Financing
Repossession
Home Equity and Refinancing

Is it better to finance an auto purchase with a small down payment and high monthly payments or high down payment and small monthly payments?

345

Top Answer
User Avatar
Wiki User
Answered
2011-07-20 18:36:15
2011-07-20 18:36:15

It is better to finance an auto purchase with a high down-payment and a low monthly payment, because it is less likely for you to fall behind on your payments and acquire debt.

001
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
๐Ÿ˜‚
0

Related Questions


You are going to have to put down a down payment and then you can finance the rest and pay in 9 or 10 monthly payments. It reall depends on the insurance company.

Monthy payments are payments you make every month, like a house payment, loan payment, water, electric, gas (for heating), phone, insurance if you pay monthly, etc.

It is applied directly against the purchase price of the used car. The more you down payment, the less owed and the lower your monthly payments will be.

Monthly rent is payment for using someone else's property.A mortgage payment is payment for a loan you obtained to purchase real property that you own.Monthly rent is payment for using someone else's property.A mortgage payment is payment for a loan you obtained to purchase real property that you own.Monthly rent is payment for using someone else's property.A mortgage payment is payment for a loan you obtained to purchase real property that you own.Monthly rent is payment for using someone else's property.A mortgage payment is payment for a loan you obtained to purchase real property that you own.

Alternative Payment Frequencies Use this calculator to determine your payment or loan amount for different payment frequencies. You can make payments weekly, bi-weekly, semi-monthly, monthly, bi-monthly, quarterly, semi-annually or annually. You can then examine your principal balances by payment, total of all payments made, and total interest paid.

There is not enough information to answer the question. At least the following is necessary to calculate monthly payments.The negotiated purchase price of the car.Taxes applicable to the purchaseAmount of down payment and total amount of the loanThe interest rate of the loanThe number of months or years of the loan

This is a very good website to calculate the monthly car payments: http://autos.aol.com/calculators/car-payment-calculator/ or http://www.carmax.com/enus/car-payment-estimates-calculator/default.html

Most banks and car dealer websites have an auto refinancing calculator that customers can use to recalculate their monthly payments. If you have been making more than the required monthly payment, you can most likely get your monthly payment lowered. The interest may be the same or a bit lower if you have been on time with your payments. Be sure to enter all of the information into the calculator correctly so that you have the most accurate payment information.

Using a rent to buy purchase plan is beneficial if you do not have a large down payment to purchase a home. Typically, the owner of the home holds the mortgage and one would make monthly payments to them.

When you enter into a retail installment sales contract for the purchase of a vehicle, your down payment and your monthly payments go toward the total purchase price of your vehicle. When you have paid off the financing, you own your car. When you lease a vehicle, you make payments to use the vehicle over the term of your lease. However, you don't own your car. At the end of your lease, you return it to the lessor.

need a used car loan my credit score is 570 i need low monthly payments of nomore than $250.a mo i have $500. down payment will anyone finance me

What is the Annual Percentage rate set at? Are you making more than the minimum monthly payment? Is the collection agency charging any monthly fees? If you are making a $10.00 a month payment and the finance charges are $8.00, only two dollars is being applied to wards the balance, each month. Check to see how much of your monthly payment is going to the finance charges and then increase your monthly payment to cover the minimum monthly payment and finance charges.

No, the payment is one time only and the upgrades last forever.

The calculator lets you plug in various down payment amonuts to see what your monthly payments will be. This will allow you to determine the proper amount for a down payment, and the peace of mind to know that you can afford the monthly payment.

A loan auto calculator is made for precisely that, figuring out your monthly payments. They are straight forward to use and clearly state exactly what information they need to calculate your monthly payment.

Vehicle financing can be done two ways. You can go to a buy here, pay here car dealership that will sometimes report to credit agencies. If you have good credit, you can finance a car at a larger dealership. Small buy here, pay here lots require a smaller down payment and the monthly payments are not as expensive. You have a choice of when you would like to make your payments during the month depending on how you get paid. Larger car dealers can offer specials to customers on down payments and monthly payments. They will definitely make a report to a credit agency, and the payment will be due at a certain point in the month.

Mortgage payments are typically paid monthly, making 12 payments per year. However, if one extra payment is made each year, thousands could be saved in interest alone and the loan repayment period shortened by years. One easy way to accomplish this is by changing the frequency of payments. Instead of making one payment a month, pay half the monthly amount every two weeks. Another option is to pay a small additional amount over the monthly payment every month that equals approximately 1/12th of the monthly payment. By the end of 12 months, an extra payment will be completed.

No, there is no monthly charge for having an iPod Touch, but becareful of the apps that you might purchase from the AppStore.

There should be an address to mail payments to - on the reverse of your monthly statement.

means your up to date with your monthly payments in the past 7 mths (past) 1111111 (present) if you have a 2s or 3s in the series of numbers ... ie) 111231121 it means you have been behind with your monthly payment that paticular month. 1s mean paid monthly payment on time 2s mean 30 days (missed one payment) 3s mean 60 days (missed two payments) 4s mean 90 days (missed three payments)

By Mail You can mail your monthly payment to the following addresses. Monthly Payment and Payoffs: CitiFinancial Auto P.O.Box 183036 Columbus, OH 43218-3036 Address for Overnight Payments: CitiFinancial Auto Attn: Payments Dept 1500 Boltonfield Street Columbus, OH 43228

You can calculate this on a monthly loan calculator, available online. You must input information and it will give you an estimate of your monthly loan payments.

Yes it will or the number of payments will get reduced. Its always a good idea to pay of the principal payment as quickly as you can

A mortgage payment calculator estimates monthly mortgage payments for loan amounts, the interests rates, the mortgage term and insurance costs for any home.

A house is the largest purchase most of us will ever make so it's important to calculate what your payment will be and how much you can afford. The mortgage calculator will show you how much your monthly payment will be. It can also show the effect of adding extra payments. Watch our "How To" video on how to use the mortgage calculator.


Copyright ยฉ 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.