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post #1 of 4 (permalink) Old 11-10-03, 06:21 AM Thread Starter
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New car loan

Im thinking about getting a new BA XR8 on a loan how much willl the repayments cost me for a loan per month for the full amont

I used to have an open mind but my brains kept falling out


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post #2 of 4 (permalink) Old 11-10-03, 06:36 AM
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Re: New car loan

I hope you are sitting down.

I got the price of the BA XR8 with NO extras from the Ford site - $50,130.

Borrowing that amount from a bank using a personal loan at 11.80% over 5 years works out at:
$1110.06 per month for a total repayment of $66603.60

Using a Variable rate supplementary home loan at 6.57% works out at:
5 years = $982.50 per month for a total of $58,950.00
7 years = $746.11 per month for a total of $62,673.24

Using a Fixed rate supplementary home loan at 7.70% over 10 years is
$600.30 per month for a total of $72036.00

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post #3 of 4 (permalink) Old 11-10-03, 06:45 AM Thread Starter
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Re: New car loan

I was lexpecting around the 4250 - $300 a week so its what i was expecting cheers

I used to have an open mind but my brains kept falling out


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post #4 of 4 (permalink) Old 11-10-03, 03:33 PM
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Re: New car loan

Don't forget to factor in insurance (which will be nastier due to the loan), and the inevitable fuel costs as well

I reckon on ( for my car ) $50 in fuel and another $50-$70 in on road costs per week . . . .

Mucho money - but if you have a home loan, I'd try and get it linked to that - much lower interest rate . . .
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