We ended up having to get a new car last month. From that experience I can see how $10k could be possible...
Replies
10k in interest
jul 8, 2025, 2:07 pm • 1 0 • view
I don't remember the details now but for one $40k car with 30% down, monthly payment would have been almost $800. No idea how much was interest vs. loan itself though.
jul 8, 2025, 2:10 pm • 0 0 • view
You’d need the interest rate on the loan to figure it out, but unless you’ve lost your mind and have a completely crazy interest rate you’re still not hitting 10k
jul 8, 2025, 2:15 pm • 2 0 • view
if you were paying 7% interest you're paying ~$2k interest in year one
jul 8, 2025, 2:15 pm • 0 0 • view
I think the interest was about 9% on a new car and 11.5% for CPO. That's with stellar credit score. The meeting I am on that's going on it's 5th hour is frying my brain out, but I am wondering, what would be the interest in year one with $0 down?
jul 8, 2025, 2:18 pm • 3 0 • view
That said, I did misread your original skeet and did not see the "interest" part. Still, the experience of being forced to get a new car gave me a stupid level of sticker shock.
jul 8, 2025, 2:18 pm • 2 0 • view
if you borrow $40k at 10% interest you're paying $4k interest in year one
jul 8, 2025, 2:18 pm • 1 0 • view
Car loans are not frontloaded like mortgages? Sincere question btw.
jul 8, 2025, 2:20 pm • 0 0 • view
*interest*
jul 8, 2025, 2:07 pm • 7 0 • view