Car Buying Question? Tax & Title Fees...

Question

I'm looking into buying a car, my first car purchase, it's a 2006 VW Jetta, and I plan to get my financing through Capitol One or my bank, so how does that all work? I mean I know how much I can afford using the auto loan calculator but how do I know if I can afford the loan for the cost of the car and the tax and title?

The car is listed at $13,995 and I'm not sure if I can get them to go down any because it's already well below KBB value. I have $3,000 down and with my desired payments I can get a loan for roughly $11,300. How do I figure out if I can afford this car??

I live in Texas.

Answer 1

Just put your numbers into a loan calculator and see what monthly payment results. You'll have to know or estimate the interest rate on the loan, and the number of months. Tax will be charged at the same rate as you pay for other goods, and title/registration fees will only be several dollars to maybe a couple hundred dollars, depending on the state you live in. Here's a calculator that would do the job for you:

http://www.autoloancalculatoronline.com

Good luck.