LogFAQs > #923635894

Paid off my loan in full today, the first day I could. The dealer gave me a small discount for taking a loan over doing cash. In the two weeks I've had my car I already have around $50 in interest extra to pay. Every day adds $3.08 more to what I pay on my 72-month loan (I knew I'd pay it off so I told the guy just to give me the lowest APR he could, it was like 7% which is ridiculous but he probably didn't put effort into it since I said I was paying it off and was getting a discount.)

The average auto loan lasts 68 months for people. The average loan is around 30k. That's like a year salary for most people.

I already feel bad paying 19k for my 2018 CPO Camry with 13k miles when I'm making 140k. I got a new credit card before paying 3k at the dealer so I could get some new-sign-up-bonus rewards.

Can't imagine what a college loan payment must be for those people who decided to go to out-of-state schools.