"How much interest are you paying and what is the total price of the
car? You can not figure out the total cost of the car without knowing
the interest you paid. With the interest, you can subtract this amount
from the total cost and arrive at the dealer's true offer (price of
the car)."
If you are buying, not leasing, then why would you not know the price of the car?
You (at least I) negotiate the price 1st. The financing is just that, financing i.e. how
you're going to pay for it.
If the "price" is, as you say, the MSRP, then you know the "cost". On a personal note, I
would never pay that amount - market value is what one person is willing to pay and what
the other is willing to sell for).
The loan "$535 per month 60 month" = 32,100. Subtract the capital cost of the car (MSRP)
plus added fee's and that's the interest cost.
I'm obviously missing something here!
--
Regards;
Rob
------------------------------------------------------------------------
|