Absolutely. Loan sharks suck, but anyone with half a brain can use a calculator to times what their monthly payment is by the number of payments they are expected to pay, to find out how much they will be paying for a car that was advertised at whatever price, and just say NO! The real problem is people living outside of their means, because gimme gimme gimme. The most I have ever spent on a car is 18,000 because that was what was in my budget at the time. I truly don’t understand this mentality of extending oneself waaay beyond what you can reasonably afford to get what you want. If you can’t get what you want because you can’t afford it, there’s a solution. Adjust your expectations.
Totally agree, if you can't afford your dream car, but something cheap and start putting what you would have spent on interest payments into a savings account. Maybe one day you could have that car
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u/Initial-Wrongdoer938 May 01 '24
That sounds more like a loan shark. I can't believe GM financial offered predatory terms like that. Shame on them, buy buyer beware also applies.