11-09-2011, 01:40 PM
|
#24 (permalink)
|
|
A True Z Fanatic
Join Date: Aug 2011
Location: Grapevine, TX
Posts: 1,767
Drives: 2013 GS350
Rep Power: 18
|
Quote:
Originally Posted by GraphiteZ
It is actually 15%. I don't quite understand how the money factor work.
Here is how I got my number.
Total cost of the car: 31,151+1,967+699+298 = 34,115
Residual of the car after 39 months = 18,984
That means the total depreciation of the car is 15,131
The deal requires him to pay 496 x 39 = 19,344
That means total interest in this deal is 4,213
With an Excel spreadsheet, that is 15.46% APR
Did I do it correctly?
|
youre not accounting for projected mileage
__________________
Passport 9500i HW|Short Tail Exhaust|Evo-r CF Fangs & Fog|Blacked Out Roof|Status Elite Intake 19/22| AUTO Shift Boot DIY|GTR Button|Rear Limo Tint|S2carbonworks hood dampeners|Falken Rt-7m 20"s w/Jade Project Mu Tuner Lugs|P:JDM Oil Cap|Tow Hook| SOLD |
|
|
Similar Threads
Threaded Mode
