Buying a Nissan Altima for 14,900 How much is for interest?

Question:
I'm planning on buying a Nissan Altima is $14,900. How much more will my loan be if I have no credit and I'm giving $1,500 down payment. Stimated loan amount?

Answers:

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Can't say exactly, but it will be high. The good part about it though is that Nissan Altimas tend to last a long time and have a higher resale value than most cars. It may be worth paying the extra in interest to build your credit up, but that means you have to make EVERY payment ON TIME. Find out if you can afford this before getting the loan. Car loans tend to be 3-5 years. THREE TO FIVE YEARS! A lot can happen in that amount of time. Be careful, read everything that they want you to sign before you sign it and make sure what they're telling you is actually on the contract. Another good thing is that 2 years or so into making every payment on time, you should be able to refinance your car loan at a cheaper interest rate, because your credit will be better, making your car payments cheaper. Factor in the cost of full coverage insurance too when you're figuring out if you can afford it. Good luck. Hope it works out for you.

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