The standard formula for calculating loan payments is:
P = monthly payment
L = Loan amount
c = monthly interest rate. This is the annual interest rate divided by 12.
n = number of months in the loan (years * 12)
You want to choose a monthly payment, interest rate, and loan term and see how much you can borrow. If we solve for L, we get:
Here is ...
And if I am even on the car at all if we both signed paper work?
You probably are. Check the registration and check with the company that financed the car. Ask if you are considered a co-borrower.
Is it possible for after a year for every thing to be in my name like this guy says
Probably and maybe even sooner. If I was you, I would go to your bank, or ...
Does anyone know what the hell this guy is doing and what the hell he's talking about?
The dealer wants to sell a car. That's his job, and he doesn't really care who he sells it to.
He ran your details past the loan company and they said "no". He ran your grandpa's details past the credit company and they said "yes".
So the dealer has ...
What exactly are you asking?
The best advice I can give you is to buy a car you can actually afford and to save/invest the money you'd spend on financing the car.
I don't know the terms of the loan but chances are you'll end up paying more interest than the car is worth, especially if you consider that a car's value depreciates rapidly (some sources say it ...
"Certain vehicles (with a gross vehicle weight rating above 6,000 lbs. but no more than 14,000 lbs.) qualify for deducting up to $25,000 if the vehicle is purchased and placed in service prior to December 31 and meets other conditions."
"In general The cost of any sport utility vehicle for any taxable year which may be taken into account under ...