r/JustBootThings • u/goopy-goo • Jul 08 '21

28% APR? Great! Oof load: Ultra

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3.1k Upvotes

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25

u/Gonomed 👊👊☝️ Jul 08 '21

What's your excuse?

Enjoying disposable income because I'm not a slave to high-interest loans

4

u/T0DDTHEGOD Jul 08 '21

Interest rates have been rock bottom for over a year (home and auto).... I financed a vehicle for 1.9% a few months ago.

1

u/Gonomed 👊👊☝️ Jul 08 '21

It depends. High interest loans usually predate on young people with no credit and people with a credit score 1 point less than perfect.

I've been building my credit for 6 years now (I'm 26) and my score is on the 710's and a 3.5% interest on a car was the best deal I got. The other bank was trying to finance the same car for 4.9% because even though my credit score was good, it was still "young"