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how much monthly payments will i have to make to get a used car?...?

If i bought a car worth $4000 (not including taxes and hidden fees), and i wanna buy it on monthly payments without down payment, then how much will i have to pay and for how many months?

6 Answers

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  • 1 decade ago
    Favorite Answer

    That will depend on your credit score, and for how many years you want to draw the payment out. If you have good credit you will be able to get a lower interest rate. On most loans for the first year, or two, you are basically paying almost all interest, and hardly any principle unless you find a lender that will allow you to put extra on the payment and apply it directly to principle. You will usually have the option for either a 3 year or a 5 year loan depending on the lender and your credit score. The fewer years you have the loan for the higher your payment will be, but the less you pay in the end. The longer the loan the less the payment, but you will pay more overall due to the interest.

  • 1 decade ago

    It all depends on what you get financed for. If your credit it excellent it will be less monthly then if your credit was Sh!tty. Best thing for you to do is have the dealership try and run your credit and see what you can get approved for. I pay about 200.00 a mnth for my car (I got financed for 9,995 over a three year term)

  • Anonymous
    1 decade ago

    This will matter what type of car you select. Well when you are asking for payment it will be fine if you can spend $500-$1000 /month.

  • Anonymous
    1 decade ago

    Depends on the type of payment you want to make and your interest rate.

    http://www.bankrate.com/brm/calculators/autos.asp

    At this link you can calculate payments.

  • Anonymous
    1 decade ago

    $400 dollars for a month and for ten months.

  • Anonymous
    1 decade ago

    you would have to pay $199.00 a month

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