hello, I have a quick question if I put $20k down for a hellcat that cost $67k and it said amount financed is $47k or $49k I believed. Should I be making double after financed or before?
venom07
Double what before or after financing?
If your buying it outright put as much down as you can afford and hopefully your interest rate is low. If leasing put as little down as possible.
If your buying it outright put as much down as you can afford and hopefully your interest rate is low. If leasing put as little down as possible.
$20k down is perfect if you can swing it. You will be ahead of the depreciation factor the whole way going forward in case something happens and you need to liquidate.
If by double you mean doubling up on your payments, that’s even better if you're trying to pay it off super quickly and reduce the interest big time.
If by double you mean doubling up on your payments, that’s even better if you're trying to pay it off super quickly and reduce the interest big time.
You want to try to buy something with your down payment. If possible a lower price. Lower interest. Shorter time financed.
Generally with a bigger down payment you pay less in finance costs because of course you borrow less money and can pay it back sooner. But you need to really pay attention to the numbers.
Generally with a bigger down payment you pay less in finance costs because of course you borrow less money and can pay it back sooner. But you need to really pay attention to the numbers.
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