This document compares three car loan options that differ in term length, interest rate, monthly payment, total payout, and interest expense. Option 1 is a 60-month loan at 7.61% interest with a monthly payment of $349.57 and total interest expense of $3,574.23. Option 2 is a 48-month loan at 8.15% interest with a monthly payment of $426.01 and total interest expense of $3,048.53. Option 3 is a 36-month loan at 9.25% interest with a monthly payment of $555.34 and total interest expense of $2,592.32.
This document compares three car loan options that differ in term length, interest rate, monthly payment, total payout, and interest expense. Option 1 is a 60-month loan at 7.61% interest with a monthly payment of $349.57 and total interest expense of $3,574.23. Option 2 is a 48-month loan at 8.15% interest with a monthly payment of $426.01 and total interest expense of $3,048.53. Option 3 is a 36-month loan at 9.25% interest with a monthly payment of $555.34 and total interest expense of $2,592.32.
This document compares three car loan options that differ in term length, interest rate, monthly payment, total payout, and interest expense. Option 1 is a 60-month loan at 7.61% interest with a monthly payment of $349.57 and total interest expense of $3,574.23. Option 2 is a 48-month loan at 8.15% interest with a monthly payment of $426.01 and total interest expense of $3,048.53. Option 3 is a 36-month loan at 9.25% interest with a monthly payment of $555.34 and total interest expense of $2,592.32.