![]() ![]() Would you rather have this money repaid to you right away in one payment or spread out over a year in four installment payments? How would you feel if you had to wait to get the full payment instead of getting it all at once? Wouldn't you feel that the delay in the payment cost you something?Īccording to a concept that economists call the "time value of money," you will probably want all the money right away because it can immediately be deployed for many different uses: spent on the lavish dream vacation, invested to earn interest, or used to pay off all or part of a loan. Periodic Payment (PMT) can be included but is not a required element. In basic finance courses, lots of time is spent on the computation of the time value of money, which can involve 4 or 5 different elements, including Present Value (PV), Future Value (FV), Interest Rate (I/Y), and Number of Periods (N). Max age of any vehicle is limited to 15 years.Related Loan Calculator | Interest Calculator | Investment Calculator Approved rate honored for 7 days from date of approval. 2015 and older vehicle loan amount may not exceed 90% of retail Kelley Blue Book value including taxes and license PLUS warranty up to $2,500 for 2 wheel drive and $3,000 for 4 wheel drive, and GAP up to $1,000, and pre-paid maintenance up to $1,000. ![]() Rates reflect a 0.25% discount for automatic transfer from an LBS Financial Checking or Savings account.Ī loan at 8.14% APR for 66 months will have a monthly payment of $18.85 per $1,000 borrowed or a $376.92 monthly payment based on an amount financed of $20,000. We may add an additional 1% to the published rate for first time buyers. The actual rate you receive is determined by a combination of factors including credit qualifications, loan amount, collateral, down payment and terms. Loan rate and percent financed is based on LBS Financial credit approval. 84 month financing only available on vehicles 2016 and newer of $20,000 or more and for FICO scores of 625+. *** $20,000 minimum financed on an 84 month loan. Max age of any vehicle is limited to 15 years. Lowest rate offered may require 10% down payment. ![]() A loan at 5.19% APR for 66 months will have a monthly payment of $17.45 per $1,000 borrowed or a $348.99 monthly payment based on an amount financed of $20,000. New or used vehicle loan amount may not exceed 100% MSRP including taxes plus and license, PLUS warranty up to $2,500 for 2 wheel drive and $3,000 for 4 wheel drive, GAP up to $1,000 and pre-paid maintenance up to $1000. New auto rates also reflect a 0.15% discount for a new auto purchase (2023 or newer) through the Surrogate Auto Shopper. New and used auto rates reflect a 0.25% discount for automatic transfer from an LBS Financial Checking or Savings account. See separate rates for autos, trucks, and vans 2015 or older. *New auto years 2023 or newer and used autos are for model years 2016 to 2022.
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