 |
|
Did some math
Posted on: March 28, 2025 at 09:13:08 CT
CulturedDan MU
Posts:
93767
Member For:
15.10 yrs
Level:
User
M.O.B. Votes:
0
According to the comments, it's a XTS, last made in 2019. You can get one with 75k miles (no way this one has over 200k) for $17-19k.
She probably got this for $17500 at a 33% interest rate.
Amount Financed $17,450.00
Upfront Out-of-Pocket Fees $0.00
Payment Every Month $479.90
Total of 368 Payments $176,602.15
Total Interest $159,152.15
All Payments and Fees $176,602.15
According to the amortization table. Her last payment on YEAR 11 of the loan is $478 in interest and $1.07 of the principal.
It's not until the 28th year that the principal payment exceeds the interest
She probably got this for $17500 at a 33% interest rate.
Amount Financed $17,450.00
Upfront Out-of-Pocket Fees $0.00
Payment Every Month $479.90
Total of 368 Payments $176,602.15
Total Interest $159,152.15
All Payments and Fees $176,602.15
According to the amortization table. Her last payment on YEAR 11 of the loan is $478 in interest and $1.07 of the principal.
It's not until the 28th year that the principal payment exceeds the interest
Please explain why this message is being reported.
MESSAGE THREAD
Did some math - CulturedDan MU - 3/28 09:13:08