TopHot
My friend bought a car for $23.5k in March 2021. His car got repossessed last week and he showed me his balance which is $21.9k. He had a 4.5% interest rate. How is that possible?
My friend bought a car for $23.5k in March 2021. His car got repossessed last week and he showed me his balance which is $21.9k. He had a 4.5% interest rate. How is that possible? How is it possible that he only paid off $1.5k in 38 months? He was paying $480/month on a 72 month loan, $80ish went to interest. Some notes:
Apparently he bought a "service contract" up front that was $4k. This would not be yearly, right? For the entire life of the loan, he was 2 months delinquent. Meaning, he didn't make the first two paymen...
Category:
