₦airaland Forum

you can never own any of those vehicles for under $500/month.. Na lie.. Its simple math.. Maximum loan period on most vehicles is 60 months(5 years).. $500 multiplied by 60 months is $30,000 total.. Even if you put a down payment of $20,000.. thats $50,000.. All the cars on that list are at least $100,000 for the cheapest and the interest compounded over 5 years is about $35,000 depending on your credit so we are looking at $135,000 for the cost of the vehicle.. So you see your theory is just a theory, even if you put $20,000 on any of those cars, your payments would still be over $1000 a month..

Sorry to break it to you but even if your corvette was a 2012, your payments would still be about $700 a month or more because you'd be financing close to $60k over five years because the corvette has no residual value.

Besides, nigerians here are talking about buying these cars cash not payments so the reality is for a lot of people, this is wishful thinking.. Coming up with $100+k cash for these cars plus another $10-$15k for shipping and clearing will not be easy. If these cars were $500/month, every walmart worker would have one

jidegirl12: I don't understand what's so wishful in a vehicle that only cost less than $500/month provided you have a steady income and good credit history..... My Covette ( summer vehicle) is just bout that range too, so if I want to trade it in for any of those vehicles up there with the already paid principal..... I won't pay less than $200/month.