That's because the auto dealer marked up the value of the used car to include a profit margin. If you want to know just how much that drop is, immediately drive your just-purchased car to a competing dealer and ask how much cash they'd be willing to give you for the vehicle. ...
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A good rule of thumb for a down payment is at least 20% of the purchase price of the car. Step 2: Figure out Your Trade-In Equity Assuming you currently have a car that you'll be selling or trading-in, as long as the car is worth more than what you owe on it, you have trade...
Paying off the car sooner helps reduce the amount of interest you'll pay over the life of the loan. Additionally, extending the term too much can cause you to owe more on the car than it's worth, especially after the first year when depreciation is high. Another factor that affects ...
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How Much Car Can You Afford? [Steps W/ Calculator] If you’re not careful, you can wind up paying more than a car is truly worth – or paying more than you can afford. Use these smart tips to figure out how much car you can afford....