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Rant: everyone quotes the monthly payment, nobody mentions the interest math
Bought a used truck in Austin back in March. Dealer kept pushing the $387 a month number. I asked about the rate and they said 7.9% like it was nothing. Did the math later. That's over $6,200 in interest on a 72 month loan. Nobody at the desk ever said that out loud. They just pointed at the smaller number. I get that it's on the paper but most folks don't add it up. My buddy just did the same thing last week on a Corolla. Same deal. He thought he was getting a deal. I told him to refinance through a credit union. Has anyone else found the real total cost only shows up after you sign?
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