Initially, I wanted to pay down half the car when it arrived. Since I was lucky and landed a walk-away, my finances were anything but ready.
My MSRP was $27,100 (pre-8/28 bump) and with down payment, taxes, fees, etc..., I financed around $26,500 for 63 months at 6.59% through Harris and landed a nearly perfect $500 per month payment.
Based on an amortization program I wrote for mortgage and auto financing, a finance amount of $29,000 over 60 payments at 6.9% (daily rate) will get you a monthly payment of $572.88 (good work coming to $573
). See the attached pic.
6.9% is a fair rate these days...