I have a car I've been paying on for over 3 years 336.00 a month it's a 2005 Hyundai Elantra. My 3 year loan went to 41 months and my first 3 months of payments did not even count. The car is not worth 2000 but I'm paying over 11,000 for it. On credit karma its is saying it was 10,000 and my payments are 363 for 41 instead of 168. Every 2 weeks nothing is adding up right to me. Thank you for any help you can offer
Welcome to the United States of America, where the phrase "caveat emptor" ("let the buyer beware") is the first rule of all enterprise and to the dangerous land of used car dealers--where unconscionable and usurious contracts are king. Unfortunately, these questions should have been asked three years ago (in 2015?) when you were shopping for used cars. In your defense, I am sure the "deal" that you accepted looked better back then because the car was three years newer--and worth much more-- than it is today.
The main reason you are paying way to much is the high rate of interest you accepted (24%). Charging very high interest is how used car dealers make most of their money. There is nothing you can do about this sad situation except learn from it.
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