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Crazy 88 auto loan?



tv auto commerical, for a 88 dollar down payment and a 88 dollar a month payment

If you're asking if this is possible, then yes, it is possible. For example, if I sell you a car for $5088, have you put $88 down, and finance the balance for 6 years at 8.5% with a monthly payment of $88.88, then I've just met the terms you've described. I'm sure this is for a well-used car. A couple of things to keep in mind:

1) The auto dealer is allowed to specify that they have only one car at a particular price - and then they only have to provide the deal for that one "ad" car. The rest they can sell for whatever they want.

2) Technically, they could sell a car for whatever they wanted at $88/month, and then have a balloon paymment due at the end of the term.

When buying a car, it's almost always better to get pre-approved with a lender (like your credit union), and then go shopping for the car at a particular price - unless you can still get a good price and something like 0% financing. Get a loan approval and figure out your payments first so you won't get mixed up on what's a good deal or not for the car purchase price. Good luck - and don't trust the car salesman.
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