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Why would someone pay $3,154 on interest on a new car loan when they could buy a decent used one for under that amount without a loan (or interest)?
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February 11th, 2011
I never understood why someone chooses to buy a new car and elects to pay that much in interest over the term of the loan. I never paid over $3,200 for a car, and never plan to. It just seems like good money lost is all.
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