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You decide to buy a new Tesla Model S for $70,000. You tap your savings to put 10% cash toward a down payment and finance
You decide to buy a new Tesla Model S for $70,000. You tap your savings to put 10% cash toward a down payment and finance the rest of the purchase. Your loan is a 72-month loan at 2.9% APR. Six month later, you check the market price for your car and see that you could sell it today for $60,000. 0What is your monthly car payment? How much do you owe on the loan at the end of six months? Do you have positive or negative equity on the Tesla Model S after six months
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