Hi bros out there, I am a guy who is first time buying a car. Please pardon me if I ask silly questions. I am intending to get Mitsubishi Lancer 1.6A. Is it possible to downpayment abt 3K and every month pay like $400+ installment?
not possible
price of 1.6A now is around 49k
with 3k downpayment = 46k left
paying over 10 yrs (120months), interest will be 10 x 3.5% x 46k = 15k or so
so total payable will be 61k++ / 120 months = minimum 500+ a month.