A new car has a sticker price of $24750 and the average consumer will finance it over a 60-month loan period. The average new car loan interest rate is currently 4.21%.
Assuming you put no money down and pay no sales tax or fees your monthly car payment would be $453.76.
If you finance your car over a longer loan period say 72 months your monthly payment would be lower but you would pay more interest over the life of the loan.
If you put money down your monthly payment would be lower but how much money you need to put down depends on many factors including the interest rate the length of the loan and your personal financial situation.
When you’re considering a new car it’s important to factor in not just the monthly payment but also the total amount of interest you’ll pay over the life of the loan as well as sales tax and other fees.
If you’re not sure how much car you can afford there are online calculators that can help you figure out what your monthly payment would be based on the sticker price the interest rate and the length of the loan.
How much does the new car cost?
Is the new car more expensive than a used car?
Answer: It depends on the used car
How much would the new car cost after taxes?
Answer: It depends on the state
Can I trade in my old car for the new car?
How much is the down payment for the new car?
Answer: It depends
What type of new car is it?
Answer: It is a sedan
What color is the new car?
Answer: It is blue
What is the interest rate for the new car?
Answer: It depends
Are there any rebates for the new car?
What is the warranty for the new car?
Answer: 3 years/36000 miles
How often does the new car need an oil change?
Answer: Every 7500 miles
What is the MPG for the new car?
How much does it cost to fill up the new car?
How many people can fit in the new car?
When will the new car be available?
Answer: It is available now