0.9 vs 1.80 interest rate... buying new car

[GzUp]

0.9 vs 1.80 interest rate.. is there a big difference in the long run?

Supposedly toyota got 0.9 only for this week.

Looking to get a car for 20 grand.

Im new to this and I dont know shyt about numbers.

Help me out what I should look for, no 360 deals please

@Emperor_ReinScarf u good with numbers right?

 

[88m3]

How many years is the loan?

 

[Skooby]

Only buy vehicles with cash.

Never finance a depreciating asset.

 

[88m3]

Only buy vehicles with cash.

Never finance a depreciating asset.

 

[GzUp]

How many years is the loan?

5

 

[JahFocus CS]

Only buy vehicles with cash.

Never finance a depreciating asset.

I would concur. If you can't afford it, buy a used vehicle.

 

[Domingo Halliburton]

5

You're not going to get much longer than that. Look up a loan calculator on google to compare.

 

[GzUp]

You're not going to get much longer than that. Look up a loan calculator on google to compare.

What do u mean?

 

[88m3]

What do u mean?

http://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx

 

[Domingo Halliburton]

What do u mean?

I mean type in "loan calculator" into google. Then put in the different interest rates. You're probably not going to get more than 5 years to pay it off.

 

[Rawtid]

Buy in cash or the very least do a 3 year loan term. I try to keep transportation costs at no more than 10% of my net monthly income. That includes insurance, gas, maintenance, parking ,car payment, etc. Just keep that in mind if you go for the finance option. People think they can afford the car payment but they forget to factor in all the expenses that come along with having the car.