Guesstimating Monthly Payment

Discussion in 'OT Driven' started by Boogieman117, Aug 10, 2006.

  1. Boogieman117

    Boogieman117 PSN: Boogieman117

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    Hey all,

    I'm looking at buying a 2007 Ford Ranger XLT.

    Below is a link for my Excel worksheet that basically I can throw down at my local dealer and say "Hey, gimme this, don't sell me anything else."

    I can't figure out what I'm doing wrong as far as finding the correct monthly payment.

    I provided a screencap of what Ford.com's "Estimate Your Payment" screen said.

    [​IMG] [​IMG]
     
    Last edited: Aug 10, 2006
  2. P07r0457

    P07r0457 New Member

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    The page you tried to access does not exist on this server. This page may not exist due to the following reasons:
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  3. P07r0457

    P07r0457 New Member

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    figure approximately $20 a month for every $1000 financed at 60 months, as long as your credit isn't totally shitty. That is around 7.4% iirc. At 0% it's $16.67/mo per $1000 financed @ 60 mos.

    So:

    $5000 = $100 /mo @ 60 months.
    $10000 = $200 /mo @ 60 months.
    $12500 = $250 /mo @ 60 months.
    $15000 = $300 /mo @ 60 months.
    $17500 = $350 /mo @ 60 months.
    $20000 = $400 /mo @ 60 months.
    $22500 = $450 /mo @ 60 months.
    $25000 = $500 /mo @ 60 months.
    $27500 = $550 /mo @ 60 months.
    $30000 = $600 /mo @ 60 months.
    $32500 = $650 /mo @ 60 months.
    $35000 = $700 /mo @ 60 months.
    $37500 = $750 /mo @ 60 months.
    $40000 = $800 /mo @ 60 months.
     
  4. P07r0457

    P07r0457 New Member

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    WHY would you buy a new Ford Ranger???

    That's like the shittiest compact pickup you can get!!!

    Nissan Frontier is WAAAAY better than that.
     
  5. Boogieman117

    Boogieman117 PSN: Boogieman117

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    Sorry bout that, the excel-to-web page didn't want to work. I just screen-caped them.
     
  6. BajaDak

    BajaDak If you have poo......fling it now

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    damn...my new vehicle loans are 4.5%
     
  7. Boogieman117

    Boogieman117 PSN: Boogieman117

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    8% is a high number that is just a play number.
     
  8. P07r0457

    P07r0457 New Member

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    well that makes sense, $14,415 is just shy of $15k, and based on my chart you should be just below $300, which you are... So that's correct.

    you can't just "divide" the total by 60... doesn't work like that.

    Perhaps a visual breakdown will help you. Remember, you pay more interest in front of a loan, then the closer to the end you get, the more of the payment that goes towards interest. Here's the amortization table for a $14,415 loan @ 8% for 60 mos:

    [​IMG]

    But seriously, why are you getting a Ranger? That's the worst compact truck on the market, now!
     
  9. Boogieman117

    Boogieman117 PSN: Boogieman117

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    I didn't feel like looking at too many options (Ford, Chevy, etc.) because that would drive me nuts.

    Why do you consider it the worst?
     
  10. BajaDak

    BajaDak If you have poo......fling it now

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    Aside from horrible build quality and an engine that makes absolutely no power? Rangers haven't really changed or improved in the last decade.
     
  11. Y2kAccord

    Y2kAccord Everything happens for reasons I just dont know

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    For that price I would consider Nissan and Toyota too, the Tacoma is one of the best on the market. New Frontier is very highly rated, but I am leary of NIssan till they get their act together
     
  12. Y2kAccord

    Y2kAccord Everything happens for reasons I just dont know

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    I got 1.9% From ford on my last purchase :bigthumb:
     
  13. BajaDak

    BajaDak If you have poo......fling it now

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    nice, i get mine pre-approved from my bank.
     
  14. Y2kAccord

    Y2kAccord Everything happens for reasons I just dont know

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    Ford is having model end clearance right now so they were offering finance offers
     
  15. P07r0457

    P07r0457 New Member

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    Frontier > Tacoma.

    The Titan is having issues, but Nissan knows what they're doing in the mini-truck category. The VQ40 kicks the shit out of the 1GR-FE.
     
  16. Y2kAccord

    Y2kAccord Everything happens for reasons I just dont know

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    and you own a Toyota :noes:
    I have read in magazines and the seem to be about even.
    I am mad at Nissan so I would go with Toyota out of the two
     
  17. Small Block LSX

    Small Block LSX BMW | N54 | LSX | Gun | PS3 | Parent | Night CREW

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    The first problem that I see is that you are damn near offering to pay MSRP for a Ford Ranger. :lol:

    What you need to do is get that truck as close to invoice as possible. This should be easy as hell because Rangers are a dime a dozen and all over the place. Once you have the vehicle at invoice for the dealership selling cost.. then deduct the $1,500 customer cash from Ford and then figure in your down payment, etc.
     
  18. P07r0457

    P07r0457 New Member

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    Or you could not be an idiot, and then you shouldn't buy the ford, in the first place.
     
  19. Boogieman117

    Boogieman117 PSN: Boogieman117

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    IL+1 You stated your opinion the first time, I don't need to hear it again.

    Thanks for the input. Only reason I was looking towards a Ford is that I'd been driving a 98 Ranger, there's a ford dealership < 1 mile away from home, and they don't seem that expensive. I'll look at Nissan's site and Toyota's site though. Thanks for the help.
     
    Last edited: Aug 14, 2006
  20. Y2kAccord

    Y2kAccord Everything happens for reasons I just dont know

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    I just noticed... 22k.. I paid a tad more than that for my F-150 SuperCrew XLT :noes:
     
  21. P07r0457

    P07r0457 New Member

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    Yea, the OP is a fucking idiot.

    Trys to over-analyze the financials and then he's buying a shitty rig, in the first-place. :mamoru:
     
  22. Boogieman117

    Boogieman117 PSN: Boogieman117

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    *sigh*

    I was trying to figure out why I wasn't getting the correct payment/month. I wasn't going to make a $20,000+ decision based off of your opinions.

    I took a look at the Tacoma's and the Nissan's... I'm not much for the body design. I'm partial to the Ranger's because it's what I know and what I like. :dunno:
     
    Last edited: Aug 14, 2006
  23. !i!

    !i! OT Supporter

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  24. Y2kAccord

    Y2kAccord Everything happens for reasons I just dont know

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    Just pointing out that with all the incentives you can get a F-150 XLT for probably cheaper :noes:
     
  25. Boogieman117

    Boogieman117 PSN: Boogieman117

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    Thanks Hoosier, I'll take a look at this when I get home.

    That's true, but the Ranger is more my size, I don't need something as big as a F-150.
     

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