Re: Loan payments impact on credit score

Mikki <mikki@[EMAIL PROTECTED]
> wrote:

> In any case, lesson learned about the
>interest rate. I definitely should have been putting all my resources
>towards paying off that car. The sad part is that I was prepared to
>pay the full amount for the car when we were buying it, but the
>finance liaison at the dealership talked me out of it ("Why wipe out a
>lot of your savings when you could just pay a little each month!"). I
>just thought the interest rate was high because it was a used car vs.
>new.

Ah, the finance manager.  He makes more money for the dealership than the
car
salesmen.  My guess is that the interest rate was high because he thought
he
could get it.  The interest rate is as negotiable as the price of the car.
 

-- Doug

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