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Joined 10 months ago
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Cake day: November 13th, 2023

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  • Correct me if I’m wrong but I’m theory this truck can be paid off tomorrow and my friend pays none of the 10k interest, right?

    If it was paid off, no he would pay nothing in interest. If he’s throwing down half of what he owes on that loan, it will still accrue that 6.9% of interest, but on a low amount so the number won’t be going up as quickly as it would be on 43k.

    And as absolutely awful as 6.9% is, I’ve been in the car business for 4 years, and I have not seen a rate below 7.49 in 6 months 🥲 (not including new car incentives, those are lower but your not going to find a 1.99% anymore)