Monday, April 27, 2009

Example of Savings

Here are a few examples of the money that could potentially be saved with your auto loan refinance. What a difference a few % points makes.
Loan Amount - $22,000
Original Loan New Loan
Term--------60 months----------60 months
APR ---------18.99%-------------14.50%
Payment ----$574.80-----------$520.64

SAVINGS ----- $54.16 each and every month
or $3,249.60 over the 60 month loan!!!

Loan Amount - $31,000
Original Loan New Loan
Term --------72 months ----------72 months
APR ---------12.99% -------------7.50%
Payment ----$625.29 -----------$537.59

SAVINGS ----- $87.70 each and every month
or $6,314.40 over the 72 month loan!!!

Those are some serious savings!

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