It's been a while since I've started a car thread

I don't remember the number I saw on the contract, but it wasn't even close to that.

 

See a financial counselor. You're not helping your cause by lying to yourself.

 

Don't know about the rest of you all, but I am ready for some new boots stories.

 

Right, but really not germane to the hypothetical, which was intended to illuminate what I might call "hidden" actual interest.

Indeed, but I noted that reality in specifying "for a given borrower" ...

Probably to make it clearer, you can just think about it this way: Suppose the dealer is offering 0% financing at a sales price of $10,000. If you pay cash up front, though, I guaran-damn-tee you you can get that car for less than $10,000. However much extra you have to pay to get the 0% financing is in essence prepaid interest.

When you're talking about car-buying and car-financing, there are so many ways the "real" rate is hidden from the consumer it's not even funny. The contract may say 3% or 4%, but it would easily be the case that the effective rate is far higher than that.

 

I feel bad that we are ganging up on smallp.

Seems like the board at least should be able to provide him with a nasty legalish letter to the insurance company, a financial whiz to accompany him to the dealer, an in-dash espresso machine, a free pedicure and some of that good green stuff.

 

How am I lyiug to myself?
And how, exactly did someone arrive at the 29 percent number on the Neon?
What probably more likely is that I just took a wild guess at certain numbers because I couldn't tell you the exact number without looking it up and my guess was way off.

 

Got the final word about my gap claim and here it is:

 

Work in a cannery in Alaska. No need for a car, and your room and board is take care of.

 

Well, at least you have a sense of humor about it.

 

Sp, what was the justification for their decision?

 

"Condition adjustments."