Author Topic: 25% car loan  (Read 1749 times)

Self-employed-swami

  • Handlebar Stache
  • *****
  • Posts: 1094
  • Location: Canada
25% car loan
« on: January 06, 2014, 06:56:16 PM »
http://www.cbc.ca/news/canada/british-columbia/couple-feel-robbed-by-25-interest-td-car-loan-1.2483342

Seriously people, a 25% car loan??!!

And then you are surprised when the dealership and bank won't refinance you to a lower rate?

martynthewolf

  • Stubble
  • **
  • Posts: 172
  • Age: 32
  • Location: Hull - UK
    • The Frugal Wolf
Re: 25% car loan
« Reply #1 on: January 07, 2014, 01:46:41 AM »
I assume they had to read the finance agreement and sign it? So... I'm finding it hard to feel any sympathy fro their situation. Could they have got a 1-2k loan from the bank for a second hand car?

Self-employed-swami

  • Handlebar Stache
  • *****
  • Posts: 1094
  • Location: Canada
Re: 25% car loan
« Reply #2 on: January 07, 2014, 02:27:12 AM »
I assume they read the paperwork, or they' be even dumber than they sound now.

They were in bankruptcy I think, so they shouldn't have got a loan of any sort.

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 28055
  • Age: -999
  • Location: Seattle, WA
Re: 25% car loan
« Reply #3 on: January 07, 2014, 07:19:45 AM »
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with two kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.