Loan Details
Monthly Payment
$515.44
For 60 months at 6.5% APR
Loan Amount
$28,000
Total Interest
$4,926
Total Paid
$32,926
Total Cost
$35,188
Payment Breakdown Over Time
First Year Payment Schedule
Month 1
Principal: $364 | Interest: $151
Month 6
Principal: $374 | Interest: $141
Month 12
Principal: $385 | Interest: $130
Financial Profile
Debt-to-Income Ratio
Excellent
Good
Risky
25% DTI - Good Standing
$42,000
Max Vehicle Price
$600
Max Payment
$945
Total Monthly Cost
$4,555
Remaining Income
Monthly Budget Breakdown
Affordability Recommendations
20% Down Payment Rule
Target: $8,400
4-Year Loan Maximum
Lower total interest
10% Income Rule
Max payment: $600/mo
Loan Comparison
Loan Option 1
Loan Option 2
Side-by-Side Comparison
Total Savings with Best Option
$2,450
Credit Union offers the lowest total cost
Total Cost Comparison
Refinance Analysis
Current Loan
New Loan Offer
Total Savings
$0.00
Calculating...
New Payment
$0
Payment Change
$0
Break-Even
0 months
Total Interest Saved
$0
Refinancing Comparison
Analysis Details
Total Cost of Ownership
Total Cost of Ownership
$0.00
Over 5 years / 60,000 miles
$0
Cost per Year
$0
Cost per Month
$0.00
Cost per Mile
$0
Depreciation