LogFAQs > #923687773

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Topic	Car loans are so dumb.
streamofthesky 06/22/19 1:01:55 PM #30:	My car's loan payment was like 3%, maybe even 2.5%.... I also wanted to just pay for it up front w/ a check, but they were giving $500 off if you took out a loan. They really wanted people to get locked into their financial services sector, which I guess is where the car dealers make all their money now. Paid as much as I could up front and then paid the rest off with the first monthly statement. Think I paid $30-$50 in interest. I'm not rich...buying the car set me back at least 2 years on my savings for getting a house. I just didn't want to be paying interest on a car loan while waiting to accumulate savings for the house... <cite>streamofthesky posted [p:923687773] in Car loans ... [t:77807744]...</cite> <quote>My car's loan payment was like 3%, maybe even 2.5%.... I also wanted to just pay for it up front w/ a check, but they were giving $500 off if you took out a loan. They really wanted people to get locked into their financial services sector, which I guess is where the car dealers make all their money now. Paid as much as I could up front and then paid the rest off with the first monthly statement. Think I paid $30-$50 in interest. I'm not rich...buying the car set me back at least 2 years on my savings for getting a house. I just didn't want to be paying interest on a car loan while waiting to accumulate savings for the house...</quote> ... Copied to Clipboard!
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