This is how u can calcualate the 1st payment.
Let take this example
Car Cost : $70,000
Let say: Downpayment 10%=$7,000
Road Tax is usually free for 1/2 year, therefore no cost.
Insurance estimated to be $1,000.
Interest rate is 2.5% for 10 year.
Deposit of $5,000 when u book the car.
What u have to pay up usually is as follows:
Downpayment : $7,000
1st Installment: $ 657
Insurance : $1,000
Total : $8,657
Deposit : $5,.000
U will then have to pay up $8,657 - $5,000 = $3,657 before the car
company will register the car with LTA.
U will have to check with the seller if there is any other cost, eg
GST, registrations fees, admin, coffee $$, haha.
