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Walked past a car dealership in Austin and their financing pitch made my skin crawl.
The salesman told a young couple they could get a loan with a 22% rate, no problem, because 'everyone starts somewhere.' That's not advice, it's a trap. Has anyone actually gotten a decent deal from a place that pushes those terms?
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piper7792mo ago
Yeah, like @violar35's cousin, sometimes it's your only shot.
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My cousin in San Antonio got her first car loan at 19% from a buy-here-pay-here lot. She needed a car for work and her credit was shot. That rate got her to her job for two years until she could refinance. Sometimes that starting point is the only one you have.
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hannah4002mo ago
Remember my buddy who had to take a 21% loan just to get a delivery van? It kept his small business alive for a year until things turned around. Makes you wonder how many people are stuck with those deals just to get by, right?
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