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Old 05-16-2014, 11:11 PM   #237 (permalink)
Ronin06
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GTR Man: Wow 8 hours using your calculation becomes 80 hours.

You state at 5.74% interest he would only pay $1540 in interest. Not sure what you assumed he was financing, but assuming 10% down. His interest payment would be $7,241.

Hmmm... 8 hours @ $20 per hour = $160 of effort for saving $1,622 and the initial cost of the car was lower as well. Looks like he did pretty well, even using your inflated numbers.
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