You could purchase an auto valued at $54,000 which includes a down payment of $12,000 and assumes you could qualify for a loan amount of $42,000.<table class='pure-table pure-table-bordered'><tr><th scope="col">Month</th><th scope="col">Beginning Balance</th><th scope="col">Interest</th><th scope="col">Payment</th><th scope="col">Ending Balance</th></tr><tr><td role="rowheader" scope="row">1</td><td>$42,000.00</td><td>$.00</td><td>$700.00</td><td>$41,300.00</td></tr><tr><td role="rowheader" scope="row">2</td><td>41,300</td><td>0</td><td>700</td><td>40,600</td></tr><tr><td role="rowheader" scope="row">3</td><td>40,600</td><td>0</td><td>700</td><td>39,900</td></tr><tr><td role="rowheader" scope="row">4</td><td>39,900</td><td>0</td><td>700</td><td>39,200</td></tr><tr><td role="rowheader" scope="row">5</td><td>39,200</td><td>0</td><td>700</td><td>38,500</td></tr><tr><td role="rowheader" scope="row">6</td><td>38,500</td><td>0</td><td>700</td><td>37,800</td></tr><tr><td role="rowheader" scope="row">7</td><td>37,800</td><td>0</td><td>700</td><td>37,100</td></tr><tr><td role="rowheader" scope="row">8</td><td>37,100</td><td>0</td><td>700</td><td>36,400</td></tr><tr><td role="rowheader" scope="row">9</td><td>36,400</td><td>0</td><td>700</td><td>35,700</td></tr><tr><td role="rowheader" scope="row">10</td><td>35,700</td><td>0</td><td>700</td><td>35,000</td></tr><tr><td role="rowheader" scope="row">11</td><td>35,000</td><td>0</td><td>700</td><td>34,300</td></tr><tr><td role="rowheader" scope="row">12</td><td>34,300</td><td>0</td><td>700</td><td>33,600</td></tr><tr><td role="rowheader" scope="row">13</td><td>33,600</td><td>0</td><td>700</td><td>32,900</td></tr><tr><td role="rowheader" scope="row">14</td><td>32,900</td><td>0</td><td>700</td><td>32,200</td></tr><tr><td role="rowheader" scope="row">15</td><td>32,200</td><td>0</td><td>700</td><td>31,500</td></tr><tr><td role="rowheader" scope="row">16</td><td>31,500</td><td>0</td><td>700</td><td>30,800</td></tr><tr><td role="rowheader" scope="row">17</td><td>30,800</td><td>0</td><td>700</td><td>30,100</td></tr><tr><td role="rowheader" scope="row">18</td><td>30,100</td><td>0</td><td>700</td><td>29,400</td></tr><tr><td role="rowheader" scope="row">19</td><td>29,400</td><td>0</td><td>700</td><td>28,700</td></tr><tr><td role="rowheader" scope="row">20</td><td>28,700</td><td>0</td><td>700</td><td>28,000</td></tr><tr><td role="rowheader" scope="row">21</td><td>28,000</td><td>0</td><td>700</td><td>27,300</td></tr><tr><td role="rowheader" scope="row">22</td><td>27,300</td><td>0</td><td>700</td><td>26,600</td></tr><tr><td role="rowheader" scope="row">23</td><td>26,600</td><td>0</td><td>700</td><td>25,900</td></tr><tr><td role="rowheader" scope="row">24</td><td>25,900</td><td>0</td><td>700</td><td>25,200</td></tr><tr><td role="rowheader" scope="row">25</td><td>25,200</td><td>0</td><td>700</td><td>24,500</td></tr><tr><td role="rowheader" scope="row">26</td><td>24,500</td><td>0</td><td>700</td><td>23,800</td></tr><tr><td role="rowheader" scope="row">27</td><td>23,800</td><td>0</td><td>700</td><td>23,100</td></tr><tr><td role="rowheader" scope="row">28</td><td>23,100</td><td>0</td><td>700</td><td>22,400</td></tr><tr><td role="rowheader" scope="row">29</td><td>22,400</td><td>0</td><td>700</td><td>21,700</td></tr><tr><td role="rowheader" scope="row">30</td><td>21,700</td><td>0</td><td>700</td><td>21,000</td></tr><tr><td role="rowheader" scope="row">31</td><td>21,000</td><td>0</td><td>700</td><td>20,300</td></tr><tr><td role="rowheader" scope="row">32</td><td>20,300</td><td>0</td><td>700</td><td>19,600</td></tr><tr><td role="rowheader" scope="row">33</td><td>19,600</td><td>0</td><td>700</td><td>18,900</td></tr><tr><td role="rowheader" scope="row">34</td><td>18,900</td><td>0</td><td>700</td><td>18,200</td></tr><tr><td role="rowheader" scope="row">35</td><td>18,200</td><td>0</td><td>700</td><td>17,500</td></tr><tr><td role="rowheader" scope="row">36</td><td>17,500</td><td>0</td><td>700</td><td>16,800</td></tr><tr><td role="rowheader" scope="row">37</td><td>16,800</td><td>0</td><td>700</td><td>16,100</td></tr><tr><td role="rowheader" scope="row">38</td><td>16,100</td><td>0</td><td>700</td><td>15,400</td></tr><tr><td role="rowheader" scope="row">39</td><td>15,400</td><td>0</td><td>700</td><td>14,700</td></tr><tr><td role="rowheader" scope="row">40</td><td>14,700</td><td>0</td><td>700</td><td>14,000</td></tr><tr><td role="rowheader" scope="row">41</td><td>14,000</td><td>0</td><td>700</td><td>13,300</td></tr><tr><td role="rowheader" scope="row">42</td><td>13,300</td><td>0</td><td>700</td><td>12,600</td></tr><tr><td role="rowheader" scope="row">43</td><td>12,600</td><td>0</td><td>700</td><td>11,900</td></tr><tr><td role="rowheader" scope="row">44</td><td>11,900</td><td>0</td><td>700</td><td>11,200</td></tr><tr><td role="rowheader" scope="row">45</td><td>11,200</td><td>0</td><td>700</td><td>10,500</td></tr><tr><td role="rowheader" scope="row">46</td><td>10,500</td><td>0</td><td>700</td><td>9,800</td></tr><tr><td role="rowheader" scope="row">47</td><td>9,800</td><td>0</td><td>700</td><td>9,100</td></tr><tr><td role="rowheader" scope="row">48</td><td>9,100</td><td>0</td><td>700</td><td>8,400</td></tr><tr><td role="rowheader" scope="row">49</td><td>8,400</td><td>0</td><td>700</td><td>7,700</td></tr><tr><td role="rowheader" scope="row">50</td><td>7,700</td><td>0</td><td>700</td><td>7,000</td></tr><tr><td role="rowheader" scope="row">51</td><td>7,000</td><td>0</td><td>700</td><td>6,300</td></tr><tr><td role="rowheader" scope="row">52</td><td>6,300</td><td>0</td><td>700</td><td>5,600</td></tr><tr><td role="rowheader" scope="row">53</td><td>5,600</td><td>0</td><td>700</td><td>4,900</td></tr><tr><td role="rowheader" scope="row">54</td><td>4,900</td><td>0</td><td>700</td><td>4,200</td></tr><tr><td role="rowheader" scope="row">55</td><td>4,200</td><td>0</td><td>700</td><td>3,500</td></tr><tr><td role="rowheader" scope="row">56</td><td>3,500</td><td>0</td><td>700</td><td>2,800</td></tr><tr><td role="rowheader" scope="row">57</td><td>2,800</td><td>0</td><td>700</td><td>2,100</td></tr><tr><td role="rowheader" scope="row">58</td><td>2,100</td><td>0</td><td>700</td><td>1,400</td></tr><tr><td role="rowheader" scope="row">59</td><td>1,400</td><td>0</td><td>700</td><td>700</td></tr><tr><td role="rowheader" scope="row">60</td><td>700</td><td>0</td><td>700</td><td>0</td></tr></table>