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    3. is it better to get a loan with APR of 3.9 percent over 60 months than a loan with APR of 0 for a period of 72 months?
    is it better to get a loan with APR of 3.9 percent over 60 months than a loan with APR of 0 for a period of 72 months?

    i am going to finance a car. I was offered a 0 percent APR with 2000.00 downpayment for a period of 72 months. The other option as a 3.9 percent APR with 2000.00 down plus 1000.00 Rebate for a period of 60 months. Which is the better deal? I will most likely trade the vehicle in after 48 months anyway, but mathematically speaking does it calculate out to be less money out of pocket for the 0 APR for 72months with 2000.00 down and no rebate. or 3.9 APR for 60 months. with 2000.00 down and 1000.00 rebate. sounds like a dumb question but am trying to convince my mother that 0 percent is better... just need help explaining the math to her. thank you.

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    0  Views: 1050 Answers: 4 Posted: 13 years ago
    Tags: financing a automobile
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      4 Answers

      ON 20000$ YOU WILL PAY 2045 $ OVER THE LIFE OF THE LOAN THESE TYPE OF LOANS OFTEN HAVE EARLY PAY OFF PENNALTIES. AS I SAID EARLIER YOU CANT BEAT O%
      13 years ago. Rating: 0
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        YOU CANT BEAT 0 FOR 72
        13 years ago. Rating: 0
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          dottiemae

          that is what I thought but mathematically does it calculate to being less money out of pocket for 0, even if they give me a 1000.00 rebate on the 3.9 APR for 60 months.
          commented 13 years ago
          dottiemae

          thank you. I will most likely be trading the vehichle in after 4 years any way. but i wasnt sure mathematically if it would be smarter to do 0 for a longer period or 3.9percent and a thousand dollars back for a shorter period.
          commented 13 years ago
          dwayne1716

          WHAT IS THE AMOUNT FINANCED
          commented 13 years ago
          Depends on your financial situation and how long you will drive. But you never want to pay extra(interest) whatsoever.
          13 years ago. Rating: 0
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            And why are you planing to trade it in after 4 yrs? That's stupid. If a car takes you from place "A" to place "B" without a problem you should drive it till it croaks. My last car I drove 13 yrs till I unfortunately crashed it and still got good mileage and good service with little expense. Wake UP guy.
            13 years ago. Rating: 0
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              dwayne1716

              CHILL GARY THE GUY MAY DRIVE 50000 MILES A YEAR
              commented 13 years ago
              gary

              I drove mine 178,000. So what's his problem.
              commented 13 years ago


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