My interest on my unsecured line of credit is 4.0%.
If I secure it on my house, it's 3.5%.

Build up your credit over time, and you'll be rewarded with much lower borrowing rates in the future.

at the rates in OP's thread i'm thinking the 'office' giving those rates have this on the wall for 'collections'

http://1.bp.blogspot.com/-yp2MwPbZ7o...helf%2B012.JPG

wondering if dumb thread made to generate views for the "for sale ad" of OP's vehicle.... :suspicious:

subprime is capped up to 29.9% :heckno:

whats wrong with the abarth? :lawl:

Depends on the lender. I've seen unsecured finance contracts at 45%. I believe usury is 62% so anything under that and you are within the law.

^ To put that into perspective, with an amortization period of 60 months (extremely common for a used vehicle) let's suppose total out the door cost of $15,000.00

60 months @ 62% $814.65

Paying a total cost of $48,879.00

or 3.1 times the cost of the vehicle.

Predatory lending.

Absolutely nothing. I love the car, but as I said before I get bored real fast of anything. lol

In any event I am probably going to keep the Abarth and as suggested by Grim, purchase a motorcycle which was next on my list anyway.

and there it is... the summing up of a generation in 2 lines.

"I want to buy a car on 20+% interest b/c i get bored of a perfectly good car that's a couple years old"

the journey to being broke will likely be a quick one for you.

if that's the scenario, technically wouldn't you already be there?