Scribd Logo
Upload

Welcome to Scribd!

  • Autoloancomparison

    Uploaded by

    api-271234868
    17 views1 page
    The document compares auto loan options from four financial institutions for a $15,000 loan over 4 years. PNC offered the lowest APR at 2.34% and monthly payment of $327.66, but Chase offered the lowest total cost of $20,582.72 with an APR of 1.88% and payment of $324.64. Capital One and Wells Fargo offered higher APRs and costs than PNC or Chase. The document provides instructions to select an auto loan and complete a table comparing the loan terms from multiple lenders.

    Original Description:

    Original Title

    autoloancomparison

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document compares auto loan options from four financial institutions for a $15,000 loan over 4 years. PNC offered the lowest APR at 2.34% and monthly payment of $327.66, but Chase offered the lowest total cost of $20,582.72 with an APR of 1.88% and payment of $324.64. Capital One and Wells Fargo offered higher APRs and costs than PNC or Chase. The document provides instructions to select an auto loan and complete a table comparing the loan terms from multiple lenders.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    17 views1 page

    Autoloancomparison

    Uploaded by

    api-271234868
    The document compares auto loan options from four financial institutions for a $15,000 loan over 4 years. PNC offered the lowest APR at 2.34% and monthly payment of $327.66, but Chase offered the lowest total cost of $20,582.72 with an APR of 1.88% and payment of $324.64. Capital One and Wells Fargo offered higher APRs and costs than PNC or Chase. The document provides instructions to select an auto loan and complete a table comparing the loan terms from multiple lenders.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    AutoLoanComparison

    Instructions:
    Itstimetochopsforaloan.Assumeyouarebuyinganewfor$20,000.Youaretradingin
    youroldcarandincludingitinyourdownpayment.Yourdownpaymenttotals$5,000.The
    principaloftheloanis$15,000.Therepaymentperiodis4years.Lookforfourfinancial
    institutionsandcompletethetablebelow.Thiswillgoinsection3.2ofyourportfolio.

    KindofLoan:_________AutoLoan____ Principal:___15,000__________ Repayment


    Period:___4Years___

    Nameof
    Financial
    Institution

    APR

    Finance
    Charge

    TotalCost

    Monthly
    Payment

    PNC

    2.34%

    $727.68

    $20,727.68

    $327.66

    CHASE

    1.88%

    $582.72

    $20,582.72

    $324.64

    CapitalOne

    2.69%

    $838.08

    $20,838.08

    $329.96

    WellsFargo

    3.32%

    $38.72

    $20,038.72

    =]334.14

    You might also like