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Wow, doesn't this suck. I refinanced a Capital One load with at 2% less (10.25%).

I get paid every other week, sometimes on a Friday, sometime on a Monday. Sometimes my payment is late, sometimes not. Been with them for 10 months. We started at $16,200, now my payoff is $15,000!

$350 a month. Hmmmmm, doesn't that come out to $3,500 - $16,200? Nope. Try this.

It's a simple interest loan. If your payment is late - no grace period, your loan is in default and will accrue $4.72 "interest" daily + $15.00 late fee = a heck of a lot of money. Ok, well the 10.25% interest variable or is it charged annually. It's not variable.

The 10.25% interest is charged on a daily basis of your default rate + any added "interest". Soooooo.....that would make my loan something like 274.287435% per year. No sir. It makes it 10.25% + and added "interest." Thanks Triad.

I'm really TRYING TO ADD. What's in my wallet? Not Capital One.

Dang it!

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Bauru, Sao Paulo, Brazil #13147

I hear you may be closing your doors to new business?



Belo Horizonte, Minas Gerais, Brazil #13022

Dear Customer,

This is called a simple interest contract. It is the same contract that ALL...let me repeat ALL finance institutions utilize for automotive retail contracts.

The more challenging the credit, the more riskier the deal. Therefore, the higher APR. There is one sure way of not having to deal with this. Pay cash for your cars.

Although this may sound like a ridiculous idea, it is actually the way business was conducted 20 years ago when sub-prime company's were not around. If you did not have great credit, you didn't finance a loan. Might I recommend a book and individual that may help you achieve this idea of paying cash for things. His name is Dave Ramsey.

He teaches people to live debt free by an amazing formula...Are you ready? It's called. Don't borrow. "The borrower is slave to the lender" --- Don't buy what you can not afford.

Just some wisdom for you to ponder. Good luck.

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