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tharesabeveragehere t1_jeek47l wrote

plug that into an amortization schedule (there's plenty available on line)...eyeballing it, looks like you'll be paying almost $8k interest over the life of the loan.

so...you're paying $28k for a vehicle that will be worth probably $9k when you finally own it.

that may help your decision.

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iamaweirdguy t1_jeeoman wrote

I mean in pretty much every case you’re going to have paid more by the end of the loan than what the car would be worth by then.

OP just needs to look at the interest rate. It’s too high. If their credit is shit, look for a cheaper car that they can buy cash (they should have plenty of cash on a $3200 salary with $800 expenses)

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