$12,465.00 plus 5.65% = 13,169.27
less 1300 down leaves 11,869.27
1st month's interest on that is $55.88
Now check the other interest rates and compare.
You are purchasing a car for $12,465.00 plus 5.65% sales tax. You make a $1,300.00 down payment and have a fair credit score. If you improved your credit score to good and paid $1,500 on your purchase, how much interest could you save in the first month?
Secured Unsecured
Credit APR (%) APR (%)
Excellent 4.75 5.50
Good 5.00 5.90
Average 5.85 6.75
Fair 6.40 7.25
Poor 7.50 8.40
$25.69
$21.74
$13.25
$14.68
1 answer
1 answer