Chevrolet Corvette Stingray C7 Forum - View Single Post

Keedy · 06-24-2010, 05:55 PM

If you take a loan for $40,000 on an 8 year term, at 6.25% interest (the current new car rate offered by my credit union), you will in the end pay $60,000 in interest on a simple loan.

Put your figures in here:
http://webmath.com/simpinterest.html

and you can figure out how much you'll actually be paying, based on your real figures.

06-24-2010, 05:55 PM	#6
Keedy Should have waited... Drives: 2004 Mazda RX8 Join Date: Dec 2008 Location: NC Posts: 226	If you take a loan for $40,000 on an 8 year term, at 6.25% interest (the current new car rate offered by my credit union), you will in the end pay $60,000 in interest on a simple loan. Put your figures in here: http://webmath.com/simpinterest.html and you can figure out how much you'll actually be paying, based on your real figures.