if...........................

if you get a car loan through a bank for a 9% intrest rate.. and payments were $250.. and let's say you throw $600 instead per month.. would that interest rate matteR? totally not savvy on this sort of thing

Quoting *~Bunny~Hump~*:" if you get a car loan through a bank for a 9% intrest rate.. and payments were $250.. and let's say you ... [snip!] ... and let's say you throw $600 instead per month.. would that interest rate matteR? totally not savvy on this sort of thing"

You end up paying less in interest over all because you pay the car off faster.

<blockquote><b>Quoting Not tellin:</b>" You end up paying less in interest over all because you pay the car off faster."</blockquote>




This!!! You still keep the same interest rate as long as you have the loan. But the more you pay per month the quicker the loan is paid off which means you pay less over the duration of the loan.

Quoting Allissa Specht:" <blockquote><b>Quoting Not tellin:</b>" You end up paying less in interest over all ... [snip!] ... loan. But the more you pay per month the quicker the loan is paid off which means you pay less over the duration of the loan."

so it'd be worth it??

My credit score is 623 which is why the interest rate is high

Quoting Not tellin:" You end up paying less in interest over all because you pay the car off faster."

 

Your interest rate isn't bad. I was paying 25% on my Mazda

Quoting Allissa Specht:" Your interest rate isn't bad. I was paying 25% on my Mazda"

Yours is bad, and hers isn't good.

ETA: I can't imagine paying 25% interest on a car.

Quoting Allissa Specht:" Your interest rate isn't bad. I was paying 25% on my Mazda"

 
Holy smurf!

<blockquote><b>Quoting Spoonful of Jayson:</b>" Yours is bad, and hers isn't good. ETA: I can't imagine paying 25% interest on a car."</blockquote>




It was in my exs name so I had no choice. I couldn't get a loan.

Quoting Allissa Specht:" <blockquote><b>Quoting Spoonful of Jayson:</b>" Yours is bad, and hers isn't good. ... [snip!] ... imagine paying 25% interest on a car."</blockquote> It was in my exs name so I had no choice. I couldn't get a loan."

That's crazy. You probably could have taken a bus for 2 months with the money you paid in interest for ONE month!

My interest rate is I think 3.4 or 4.6 or something, so 25 seems damn high to me.

623 isnt too bad a score and 9% in no way is too high. with my first car my interest rate was 22%!!!!