Hi, All...
I Just bought a Used 2017 Ram Truck has a current ( 38,430 km )
I'm on a loan Bi-Weekly for $143.67 per week x 72-months = 6-Years. [Not that I want this loan taking this long to pay the bank off.
Anyway's bought it second hand from the dealer-ship.
The dealership has offered me an extended warranty (Power train, Computer, radio, full boosting the Basic which does all the computers, electronics, modules, A/C, HVAC, steering, suspension, radios/backups, etc, etc which ends in 12 months or once you hit 60,000 ks ( current 38,430 ) approx 21,500 more ks.
Bumping my payments from $143.67 to $160.00 = $16.33 x 158-payments from the first payment to the last payment would total any extra cost of $16.33 x 158 = $2,580.14 for not 72-months buy this guy just boosted it to 78-Months 6-months over my full payout loan to the bank.
(Here's the copy off and from my email, he sent me today below here)
................................................................................................................................................................
How's the new ride.............hope you're enjoying it
I will need to close off your file by Saturday - I think it would be a good idea and peace of mind to consider the Chrysler Extended Warranty.....
Your current payment is $143 b/w and adding some warranty as I left you in the file............boosting the Basic which does all the computers, electronics, modules, A/C, HVAC, steering, suspension, radios/backups, etc which ends in 12 months or once you hit 60,000 ks ( current 38,430 ) approx 21,500 more ks.
If you stretch this part to match your Power Train ( engine and transmission ) - it ends in 36 months or once you hit 100,000 ks - by stretching the first one to match - now everything would have 36 months or until 100,000 ks whichever comes first.
Doing so - new payment $ 160 from $143 = $17
Another plan would be $167 for 48 months up to 120,000 ks
Another plan was $170 for 60 months up to 115,000 ks
and
if you did the longer plan up to 115,000 ks and stretched the loan 6 months to 78moths - that long plan would be $160 b/w
Let me know your thoughts, I am out of the office until next Wednesday - but Have a co-worker ready with the new documents for you to sign if and when ready.
talk soon
................................................................................................
So, thinking of $17.00 per payment of a total of 72-months = 6yrs. [Again I don't want it taking this long to pay off. Plus it says in the contract from the bank, if paid earlier, bank will pay me interest back.]
$2,580.14 / 6yrs = $430.02 per each year. Even if you wanted to keep breaking it down, monthly $430.02 / into 12-months = $35.84 [and adding it back up $35.84 x 12-months = $430.08 x 6yrs = $2,580.48]
To anyone that reads this, thanks so much for your time.
Sam....