Dear Terry, I purchased a brand-new 2008 Honda Odyssey which includes a seven-year basic extended warranty through Honda Financial. I'm paying $560 per month. Is my payment just about right? The total price of the van is $32,000. I don't have any means of comparing to other people. So please tell me if I'm paying too much interest on that. -- JonathanDear Jonathan, Since you don't mention the interest rate or how much you put down, it's hard to know if you're paying too much interest. If you did a 100 percent financing deal on the full price of the van, plus the added cost of the extended warranty, your payment seems about right for an 84-month loan term. Here are this week's reader questions:•Small-car bargains disappearing fast•Do 'teaser rate' car loans exist?•Am I paying too much interest?•Can I get a refund if the motor fails?If you have a question for Terry, e-mail him at Driving for Dollars. Save money on your car -- sign up for Bankrate's new weekend Car & Money newsletter. advertisementRelated Links:Lowball offer could workNo license tag is no goodAuto loan rates Jan. 29Related Articles:A deal is a dealDealer won't swap carsAuto loan rates for Feb. 5
Dear Terry, I purchased a brand-new 2008 Honda Odyssey which includes a seven-year basic extended warranty through Honda Financial. I'm paying $560 per month. Is my payment just about right? The total price of the van is $32,000. I don't have any means of comparing to other people. So please tell me if I'm paying too much interest on that. -- Jonathan
Dear Jonathan, Since you don't mention the interest rate or how much you put down, it's hard to know if you're paying too much interest. If you did a 100 percent financing deal on the full price of the van, plus the added cost of the extended warranty, your payment seems about right for an 84-month loan term.
If you have a question for Terry, e-mail him at Driving for Dollars. Save money on your car -- sign up for Bankrate's new weekend Car & Money newsletter.
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