Sentences with phrase «car loan payment assuming»

The result should be the amount of money you are able to spend on a monthly car loan payment assuming you have set aside a down payment.

Not exact matches

While the average price of a car these days is pushing $ 34,000, a four - year loan at $ 292 a month (10 percent of a $ 35,000 gross annual salary), assuming a 20 percent down payment, comes to just $ 17,500.

If your new loan extends the number of months over which you pay for your car, your payments will be lower (assuming your interest rate is not higher than before refinancing or you do not finance too many additional costs into your new loan).

If you have an existing upside down car loan, it might mean a higher lease payment, but assuming you keep the car until the end of the lease, then your negative equity is completely gone.

The reason why banks use this formula for clearing checks is that they assume that the larger checks are the most important payments, i.e. car loans, mortgages.

Because a consumer proposal does not include secured debt, such as a car loan or lease, you can keep any leased or financed car (assuming the equity is less than $ 6,600) if your loan payments are up - to - date, and you continue to make all your car payments.

But at the same time, your mortgage payments have to be more than 31 percent of your income, meaning you are pressing up against the limit of what a likely candidate for refinancing looks like, assuming you have other debts, like a car loan or credit - card bills.

We assumed buyers would make a 20 % down payment and finance the balance over 48 months at 4.05 % — the average cost of 48 - month new - car loans when the study was done.