Jason Elliot Benda (26376) wrote,
Jason Elliot Benda

Doing My Homework

Well, you know, if I want my 107 students to do Project 1 and actually do their own research to get the most out of the project, I really should be willing to do the same.

I am considering buying a car sometime in the near future, and I would like to have some idea of how feasible a purchase would be for me. I have read your Auto Loan Rates page, but it only lists the minimum rate. I suspect I would not qualify for the minimum rate, so I would want to know what my rates would be.

I would like to purchase a new vehicle with MSRP of $19425. I would like to know what interest rates I could expect for a 48-, 60-, or 72-month loan.

I also understand that there are certain loan discounts which could be applicable. The vehicle I am looking at is EPA SmartWay ceritfied with 39 MPG Highway, I am an Illini Advantage PLUS accountholder, and I would configure automatic payments on my loan; I believe each of those three would entitle me to a ¼% discount on the loan rate.

(I have two reasons for this request. One is that my 17-year-old car is dead and that my wife's 9-year-old car is not in outstanding condition, and we really would like to look at buying a new vehicle. The other is that I teach a General Ed math course at Parkland, and I'm asking my students to do a project right now involving some of the consumer math that we have covered. This is exactly the type of thing I am suggesting to my own students to research, so it would be appropriate if I did the same.)

Thank you for your assistance.
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