Car Purchase/Loan Question

[It_s_Not_Rocket_Surgery]

@TNWPsycho

I financed $22,000 at 7.45% for 72 months. My monthly payment is just about $450.

I double checked and there is no penalty for paying off the loan early.

Thank you for all of your insight!

Something doesn’t add up, literally.

Is there an insurance payment in here? According to my trusty HP-12C financial calculator, a 72 month loan at 7.45% for $22k should result in a monthly payment of $379.85.

I’d recommend you have your family CPA or banker look over your documents and figure out the source of the discrepancy.

[Dag_Otto]

A $450 payment is what you would pay if the interest was 13.7%!

Shall we expect a Pit thread on the Toyota dealer?