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Car financing waheed

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An idea about car financing

An idea about car financing

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  • 1. CAR FINANCING • Car financing rate=16% • Down payment= 20% • Finance tenure of up to 5 years. • You can finance from Rs. 150,000 to Rs. 1.5m depending upon your income. Term (years) Installment factor 3 0.03469 4 0.02797 5 0.02400 Example 1 Example 2Price of Car 500000 500000Financing Duration 5 years 3 yearsTOTAL NO OF TIME PERIODES 60 36Down Payment(%) 20% 20%Down Payment(Rs) 100000 100000Finance Amount 400000 400000Factor* 0.02400 0.03469Monthly Finance Installment 9600 13876Total amount given 576000 499536Total interest 176000 99536