math

You are purchasing a car for $12,465.00 plus 5.65% sales tax. You make a $1,300.00 down payment and have a fair credit score. If you improved your credit score to good and paid $1,500 on your purchase, how much interest could you save in the first month?

Secured Unsecured
Credit APR (%) APR (%)
Excellent 4.75 5.50
Good 5.00 5.90
Average 5.85 6.75
Fair 6.40 7.25
Poor 7.50 8.40



$25.69


$21.74


$13.25


$14.68

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  1. $12,465.00 plus 5.65% = 13,169.27
    less 1300 down leaves 11,869.27
    1st month's interest on that is $55.88

    Now check the other interest rates and compare.

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    oobleck

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