Shopper looks for $300 monthly payment
Dear Terry,
I have a loaded 2004 Kia Sorento that went from a lease to a loan with three years left on payments. I need something a little smaller and more economical with payments not more than $300 a month. Is this possible?
— Karen Haggas
Dear Karen,
To get to $300 a month in payments, you’re looking at a loan of $15,000 for 60 months. There are a number of fuel-efficient vehicles you can get in that price range, such as the Toyota Yaris. The big question here is whether you have any equity in the Kia Sorento and whether you’ll have to pay that off first.
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