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Overheard a guy at a coffee shop say he pays $900 a month for a truck loan at 22% APR
I was waiting for my order and this dude was bragging to his friend about his new truck payment, and I almost choked on my drink. That interest rate is insane for a depreciating asset, but he acted like it was normal. Has anyone here actually seen a rate that high or is this just a bad decision I'm not aware of?
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hugo_hayes5mo ago
$900 a month on a 22% rate, what truck even costs that much?
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ellis.rose5mo ago
Holy crap, 22%? That's insane. You could buy a used sedan with that monthly payment for 2 bucks.
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