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Mr. Gregory White
Mr. Gregory White, Master's Degree
Category: Math Homework
Satisfied Customers: 92
Experience:  M.A., M.S. Education / Educational Administration
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My car balance is $26000 the car I want to buy is $27000 my

Customer Question

My car balance is $26000 the car I want to buy is $27000 my trade in value of my car will be 17000 what would my monthly payment be
Submitted: 1 year ago.
Category: Math Homework
Expert:  Ryan replied 1 year ago.

Hi,

Thank you for using the site.

I'll be happy to help you with this, but I will need your help to clarify some information.

I understand that the price of the new car is $27,000, and that the trade-in value of your existing car is $17,000. What do you mean by "my car balance is $26000"?

Also, assuming that you are financing the entire net price of the new car, what are the terms of the loan? What is the annual interest rate? How many months/years is the loan for?

Thanks,

Ryan