Why Misleading?

Asked by Jul 31, 2017 at 08:41 PM

Question type: Shopping & Pricing

very misleading to say the least, Good payment plans but everyone ive talked too says cash or buy a newer car for 500 a month which i cant afford. So why advertise low payments when this isnt a option?

1 Answer

30

Sadly, they do it so you'll call. Of course, you can buy a new Mercedes with "low monthly payments" if you'll only put $50,000 down... Math is math and nobody can finance anything for less that what it costs so I'd start with a good online car loan calculator. Enter in a payment you're comfortable with. If you're looking at used cars, figure 8% APR financed for 5 years if you have good credit or up to 18% for 3 years with bad credit. That will tell you how much of a car you should be looking at. Good luck.

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