So, with the Bonnie out of commission, the wife and I thought we look for a new car.
Since we are in the process of rebuilding my credit, are options are pretty limited.
I tried one of those "guaranteed credit approvals"
The lady said worst case scenario would be we would need 15% down.
Not too bad I guess.
So, I call back later to see what'* up...
she said they could do about $500 for my trade in and I would need about $500 down. I could do that in a few weeks, so I am thinking this might work.
Than she says .....
On a $6,000 car, payments would be around $323 because you only have 3 years to pay it off.
After catching my breath, I did the math
$6,00 divided by 36 months (not including the trade or down payment) is $166.66
now, I am no math genius, but I figure a $166.66. payment turning into a $323 payment works out to about 100% interest.