How can I effectively estimate my monthly payment?
 

I know websites give you certain tools to estimate, but they don't include taxes and things like that right?

I know that at the Nissan website they get the MSRP and just cut it up depending on your down payment, APR, and/or trade in.

I was wondering how I could effectively calculate a monthly payment with these things on mind. This is partly because I don't know how much exactly would go into taxes and dealer fees.

Maybe you guys could tell me, as well, how much your pay a month and how your taxes and dealer fees stacked up.

Thanks a lot. Really.

:worship:

TTL would best be answered by a dealership in your area, tax where I live is 6.25% and I know that title and license (and anything else) is 275USD.

Basic formula:
=(X*(I/12))/(1-(1+I/12)^-M)

X=Final price (TTL)
I=Interest &
M=How many months

I am working for invoice price, so I take invoice times 6.25% and then add 275 and I have my X. Interest % I am really unsure of but I have been using 7% by hopefully shooting over, and then I know I want a five year note so that will be 60 months.

That's a compound interest formula, right? I still don't see what you try to get with it, though.

Whats TTL again? Tags/title/license???

What's the invoice for a Base + Sport Package? What about just Base?

Invoice pricing

That compound interest formula is what shows you your monthly payment, based on those variables.

I have a headache reading that last post.....try Edmunds auto calulator...put in your ZIP and it calculates the taxes....give or take 50 bucks.

Meant as a joke.....Always did lousy in Math. So I need technical aids.

That formula is where all these sites get theirs from, I use it in excel which allows me to adjust all the variables. The X is usually set to a certain box (C25 for example) which allows me to adjust the formula quickly instead of having to go to a website all the time, and allows me to quickly view different models, options, etc.

You responded while I was typing, oh I understand, just enjoy having fun.

Thanks for that Dreamer. I appreciate it.

Compound Interest is probably the most applicable thing you will ever learn in math. Very useful.

Depends on the career. ;)
I will say, that currently I have a nice spreadsheet going with many different variables. X model with Y features, then I want to put down M amount of money, and estimate I% interest rate. I try to plan out everything before I even think about jumping onto it.

Here's the one I used when I got all my numbers and it was accurate to (-/+) $1.

Car Payment Estimates from carmax.com

I have used calculators, similar to these for years...

http://img12.imageshack.us/img12/2158/41bphna83vl.jpg


Amazon.com: financial calculator


Great for any sort of financial figures etc.. Also great at double checking the dealer's figures at contract signing. ;)