Quote:
Originally Posted by BzsBimmer
Who gets a 10 year loan at 12% interest so they can afford it or have a low monthly payment? Especially for a luxury vehicle?
Your loan officer might be exaggerating a bit much.
There will be a meltdown in the financial markets but my biggest concern is that this C19 may never go away until a vaccine comes out. With global contact, this could just end up being a cyclical crisis.
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If people are truly getting 10yr loans at 12% interest for a car... 1. You REALLY can't afford it and 2. You need to take some financial courses ASAP on managing money. 3. Get some help for how stupid you are.