ItAllAddsUp Buyers Handbook

To calculate your monthly payment, use the following formula:

(((Price-downpayment) * 1.33) - (Price-downpayment))/3)/12

The monthly payment is based on $1,000 down, 36 months at 10% interest.

Maintenance costs:

Multiply the cost of maintenance per mile by the number of miles driven (e.g., .06 * 12000= maintenance costs). The amount calculated provides only a rough approximation for maintenance costs. The actual amount will vary.

Insurance costs:

Multiply the cost of insurance per mile by the number of miles driven. The amount calculated provides an estimate for insurance for the average driver with a high deductible.

Gasoline costs:

Annual cost for gasoline = (12,000 miles/miles per gallon) * cost per gallon.