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.
That means two payments per month.
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.
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
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.
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.
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.
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