For clarification: the overall cost of the car is $10,000, and we're putting $5,000 down. So, to pay for the $5,000 remaining, we would be paying $198.00 a month for 48 months.
I found the equation to figure out the intrest rate from the monthly payments- it's complex enough that it will take me a while to do the calculations (damn it, I don't have a decent calculator program, so I've been fiddling around with Excell; Excell hasn't been cooperating though. *sigh* I strong suspect the interest rate is in the 30% range.
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$5,000 down. So, to pay for the $5,000 remaining, we would be paying $198.00 a month for 48 months.
I found the equation to figure out the intrest rate from the monthly payments- it's complex enough that it will take me a while to do the calculations (damn it, I don't have a decent calculator program, so I've been fiddling around with Excell; Excell hasn't been cooperating though. *sigh* I strong suspect the interest rate is in the 30% range.