I was tired of using the web calculator every time I added or removed an option, so I got bored at work, and I made an excel spreadsheet that listed all the options and costs. All you have to do is plug in your model, add up your options and then your deductables and what not....

the only thing you would have to look on the web calculator for is the interest rate for your term rate in your area. here in ohio it is 3% for 72 months... so that is what it is set at now...

http://www.users.muohio.edu/coxne/carstuff%202.xls

there it is if anyone is interested.

 

Boy are you setting people up for disappointment.

No tax tags and fees? 3% for 72 months?!? That's not even available as a special rate through GMAC on the Cobalt.

The spreadsheet "works" mathematically. But it's filled with incorrect information. It's a great tool, but don't expect it to tell you what you're paying for the car.

Further, don't even think about guessing what finance rates you're gonna get. Unless you have absolutely perfect credit and know exactly what the best rates are,

Just use this math if you don't know... Expect to pay $100 a month for every $5000 financed. Financing $20,000 expect $400 a month. It can get better, and it can get worse, but if you're gonna guess, no sense in taking ten minutes to do it.

Villain

P.S. Salespeople aren't all bad, you should try talking to them sometime. If you don't like the one you're talking to right now, there are more than a hundred where you live, try another.

 

i admit i did forget about the tax, but you can change the interest rate and the term length and it will change the monthly payment. I just used 3 percent for 72 as a base to test it because that is what it is when I did it on the gmac site.

 

I got a better rate outside GMAC's rates. Your dealership should have a finance guy who can help you find better rates outside GMAC.

As for all sales people being bad there are good and bad people everywhere.

 

Also, that calculator does not take into consideration the Effective Annual Rate. The APR is actually misleading and the interest you pay is more then the stated APR.