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time_wasting_student t1_iyf63ki wrote

18% is a crazy high interest rate.

If you can run away, do it.

Do you have savings sufficient to purchase a used car? If you stick with this loan you will be paying $8400 per year for many years. You will outpay the value of the car a considerable amount.

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LupinChronicles OP t1_iyf6k40 wrote

If I run away from it, what would the alternative be for now? (Also I plan to refinance in 9-12 months)

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Main-Inflation4945 t1_iyf7hp3 wrote

You should not rely on a quick refinance in the current market. You might want to see if you can get better financing from a bank or credit union, but a brand new 2023 vehicle does not seem appropriate under the circumstances.

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