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PDtax
PDtax, CPA, MBA
Category: Finance
Satisfied Customers: 4627
Experience:  Tax professional and business consultant for 35 years.
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Trying to understand a car loan. MSRP shown online was $31,870.00

Customer Question

Trying to understand a car loan. MSRP shown online was $31,870.00 I qualified for 0% financing for 72 months, and offered a $3,500.00 down payment. According to sales agent, loan would be interest free for the full term of loan. What type of monthly payment should I be looking at?
Submitted: 2 years ago.
Category: Finance
Expert:  PDtax replied 2 years ago.
Hi from just answer. I'mCustomer and can assist.
Expert:  PDtax replied 2 years ago.
If you don't negotiate a discount of the asking price, and post the sales tax and fees when you pick the car up, you will be financing $28,370 for 72 months.
Expert:  PDtax replied 2 years ago.
$394.03 would be the monthly payment. Thanks for asking at just answer. Positive feedback is appreciated. I'mCustomer