I finally caught the real reason my loan felt stuck, and it was staring at me on the dealership paperwork

Angela Fisher · 2026-10-26T14:10:04.3234+00:00

Two sides to this and I want to hear which one makes more sense. My payment was $487 on a used truck I bought back in 2021. For close to four years I kept telling myself I was stuck because the balance was too high to trade and refinancing was a hassle. Then a buddy asked me one thing on a job site: how long is your term. Turns out I was on a 72 month loan and I never looked past the monthly number. I sat in my truck in the Lowe's lot on Route 1 and read the whole contract for the first time. 72 months on a used vehicle with 11% APR and I had no clue. So now the debate: is it smarter to just pay extra toward the principal on a bad loan and ride it out, or eat the hit and refi to a shorter term even if the payment jumps? I have about $9,400 left and I keep going back and forth. Anyone dealt with this and which way actually worked out for you?

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I finally caught the real reason my loan felt stuck, and it was staring at me on the dealership paperwork | Car Payment Regret - Rigidtalk