dealer advertising
As my wife looks for a used class A on line, she notices when she finds 1 she likes they have example of monthl payments. Is this a good starting point or ignore this completley.
Forum Discussion
rr2254545 wrote:
Yes because in the fine print you will see they have calculated 33 % down -most do not put that much down
Disagree, Many put 10%, 20% you can't say that all dealers have X value in their calcs.
I do agree to look at the fine print. But - You can calculate this yourself.
To the OP - what do you mean by starting point? When you buy are you after a payment or the amount you want to pay for the RV? A payment is a payment based on how much you buy an RV for. You can't negotiate a payment per se. You can negotiate the cost of the RV, you can shop for rate and terms, but a payment is a result of those variables. The advertised price of the RV would be a starting point.
Anyway-
Most lenders or even stand alone sites have payment calculators. Plug in the amount, rate and length. Just google for a payment calculator.
You can also make your own in excel. using the PMT function in Excel. Example:
Monthly payments on a loan of
$50,000 that is to be paid off in
full over 5 years, with an interest
rate of 5% per year :
formula =(PMT( 5%/12, 60, 50000 ))*-1
I put the variable amounts in cells so I can change them at will , like amount, length, etc, and the formula automatically updates.
=(PMT(K5/12,240,$N3))*-1 in this example I put the rate in cell K5 and the amount in N3
in these examples the down payment is irrelevant, what you want to know is how much you are financing. Just subtract the sales prince from your down payment and that is the amount financed.
