Hot Wheelz
By Josh Rock
My Stuffs
Salary = $120,000
Yearly / Monthly
Housing = $42000/$3500
Taxes = $30000 /$2500
Food = $18000/$1500
Saving = $6000/$500
Medical = $3600/$300
Miscellaneous = $2400/$200
Car
Payment = $12000/$1000
Other = $6000/$500
3 years/ 4 years/ 5 years
Maximum Car loan = $33998.68/$44509.02/$54633.11
Car I choose was 2013 Chevrolet Camaro LT 2D Coupe
Price of Car = $26,324
3 years monthly payment = $774.27
Final price after 3 years = $27873.72
4 years monthly payment = $591.43
Final price after 4 years = $28388.64
5 years monthly payment = $481.83
Final price after 5 years = $28909.8
I would choose the 3 year because its cheaper and they are all within my budget.
Bonus Question:
0% 5 year plan = $408.6
$4000 rebate with 3.75% = $375.54
there is a $33.06 difference
The $4000 rebate with the 3.75% is better