Suzuki APV walkaround and short test drive report

[Jiminy]

5Speed,

here's the car loan computation:

20% downpayment, 4 yrs to pay at 28.7% interest rate (add on yata tawag nila)

20% of 765,000 is 153,000 = downpayment

amount finance by the bank is 765,000 - 153,000 = 612,000

612,000 x 28.7% = 175,644 (interest)

175,644 + 612,000 = 787,644

787,644 / 48 months = 16,410 ( monthly amortization )

total cash outlay are as follow:
1. Downpayment 20% 153,000
2. monthly amortization 16,410
3. chattel mortgage (approx) 12,000
--------
181,410

about the ride:
I got dizzy the first time i rode it from pasay to suzuki shaw (steering wheel alignment) . hehehe

[redorange]

Been asked before at the start of this thread, what's a chattel mortgage? I've never had that here in the US when I bought a car, but then again we don't get robbed by paying 28.7% interest. Also is it possible to get the dealer to keep the freebies and just subtract the value of those things from the cost since at that interest rate it really isn't free when you calculate everything.

[mazdamazda]

speaking of the APV, am including one in our 2007 capex budget (as a department vehicle). am not really too keen on the poverty-spec innova j or adventure gx. hopefully this gets approved this time around.