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How can I effectively estimate my monthly payment?

TTL would best be answered by a dealership in your area, tax where I live is 6.25% and I know that title and license (and anything else) is 275USD. Basic

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Old 03-15-2009, 07:49 PM   #2 (permalink)
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TTL would best be answered by a dealership in your area, tax where I live is 6.25% and I know that title and license (and anything else) is 275USD.

Basic formula:
=(X*(I/12))/(1-(1+I/12)^-M)

X=Final price (TTL)
I=Interest &
M=How many months

I am working for invoice price, so I take invoice times 6.25% and then add 275 and I have my X. Interest % I am really unsure of but I have been using 7% by hopefully shooting over, and then I know I want a five year note so that will be 60 months.
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