Interest Rate (APR): 5.00% 0.42% Desired Payment: $250.00 Down Payment: $2,500.00 YEARS 3 4 5 6 7 MONTHS 36 48 60 72 84 SALES PRICE $10,841.43 $13,355.74 $15,747.68 $18,023.19 $20,187.96 TOTAL COST $11,500.00 $14,500.00 $17,500.00 $20,500.00 $23,500.00 INTEREST PAID $658.57 $1,144.26 $1,752.32 $2,476.81 $3,312.04 Interest Rate (APR): 3.70% 0.31% Sales Price: $20,575.00 Down Payment: $4,000.00 YEARS 3 4 5 6 7 MONTHS 36 48 60 72 84 MO. PAYMENT $487.15 $372.03 $303.02 $257.06 $224.28 TOTAL COST $21,537.44 $21,857.29 $22,180.90 $22,508.28 $22,839.41 INTEREST PAID $962.44 $1,282.29 $1,605.90 $1,933.28 $2,264.41 Loan #1 Loan #2 Interest Rate (APR): 5.70% 5.70% Sales Price: $17,000 $20,575 Down Payment: $4,000 $4,000 Term (Months): 48 48 Difference MO. PAYMENT $303.52 $386.99 $83.47 TOTAL COST $18,568.98 $22,575.46 $4,006.47 INTEREST PAID $1,568.98 $2,000.46 $431.47 Based on a desired payment, approximately what dollar amount can I finance? Based on a specific sales price, what will my approximate payment be? Side-by-side comparison of two loans: