Quote:
Originally Posted by bicboi
Don't want to get into too much detail, but bottom line is that a subprime loan is not the way to go lol. I didn't get the concept of amortization on a 72 month finance. I thought I would be paying 15% of 32 000 ($4800) over the course of 72 months in interest. Thanks for the input guys and yes I do currently own a vehicle which is for sale here
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if you are as financially illiterate as your post would indicate, only ever pay for things with cash, if not you will end up in a world of financial hurt, such as believing you will pay off 15% interest over 72 months, or in your mind 2.5% annual interest (Assuming non compound in your head).
there's nothing wrong with not knowing anything about financing, just manage that lack of knowledge by staying clear of any financial activities. for you, cash is king.