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  1. #1
    Join Date
    Feb 2005
    Posts
    3,715

    Extremely High Interest Rates and longer loan payoffs

    Is it just me or do most used car lots charge extra high interest rates and have a longer (60 month) payoff as opposed to going through a dealer?

    Anyone else have a different experience?

  2. #2
    Join Date
    Dec 2013
    Location
    Pretoria - South Africa
    Posts
    9

    Re: Extremely High Interest Rates and longer loan payoffs

    I fully agree. They seem to have a much higher interest rate. I find a better option being getting a cash loan from the bank and paying cash to the second hand dealer.

  3. #3
    Join Date
    Oct 2011
    Location
    Amsterdam
    Posts
    15,510

    Re: Extremely High Interest Rates and longer loan payoffs

    I always thought anything over 22% was Mafia rates and illlegal. But I swear I have seen 24%, 28%, even 30%:::

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