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What does a 90% loan-to-value car loan mean?
I was approved for a 90% LTV car loan. The car I want is a 2019 Audi Q3 with 50,000 miles and a sticker price of $30,000. How much will the car loan cover and how much will I have to pay out of pocket for?
Johnny Puckett · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
According to the National Automobile Dealers Association (NADA), your Audi with 50,000 miles is worth around $28,125.00. 90% of that value is $25,312.50, which is how much the loan will cover.
If the $30,000 price you mentioned includes tax, title, and dealer fees, then you will owe around $4,687.50 at signing.
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- Gregory R.
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