How is a auto loan buyout determined?
65

Asked by Christopher Mar 26, 2014 at 05:22 AM about the 2010 Toyota Corolla LE

Question type: General

How is it determined? What is the math? I hear it's supposed to be less than the amount owed. Is it the amount you owe subtracted by the amount of interest payed in a year?

1 Answer
45,205

jamnblues answered 10 years ago

the amount you owe is not the amount you will pay if you keep the car over time- if you pay off now, you do not have to pay the interest

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