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I don't beleive you should be telling people that would be a bad idea to Wartulip but to somone else it helps out with the cash up front, or right now money. if you use fictionary numbers say $450 per month @ 9% for 60 months multiply all that up
450*60=27000
27000* 1.09 =29430 this is the total you will spend on the car with a 9%
now lets use 370 which is what they said my new payments will be
370*60=22200
22200*1.07=23754
29430-23754=5676
Now you are right in when you say that on most cars for the first 2 yrs you are paying off the intrest. But you are missing the point here so pay close attention Clayton. Having more money in my pocket now on payday can help me afford things right now. I cannot live in the past on what I already paid, nor can you so stop trying to push this on people. This extra money now can help buy diapers, gas, food, and anything else and extra 80 per month will buy that can help out.
Now will you pay more in the long run, sure but first who are you to step on someone dreams of owning this car or anything else. Second I can always keep making the 450 payment but now have a lower intrest rate. It seems he is affording it right now as am I. Can I use the extra cash to pay for other things...yes. Will I pay more in the long run...yes. But having and extra 80 bucks in your acct to pay for food fo the week goes a long way.
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