In_N__Out
Sep 15, 3:15 PM
$PAG $LAD $KMX $AN $CVNA Loan rates are about to increase significantly. Everything is about to go up. Not good for inventory sales and inventory.
The real impact of interest on monthly payments
A shift in rates can make a surprising difference in affordability, as evidenced in this
$20,000, 60-month financing example:
9.5% interest rate: A monthly payment would be close to
$420.04, with 5,202.23 in total interest paid
10.5% interest rate: A monthly payment would rise to about
$429.88, and the total interest jumps to
$5,792.68
11.5% interest rate: A monthly payment would climb to nearly
$439.85, with
$6,391.13 in interest.
0 replies