Does this make sense with the numbers for a car?

[Hassaniscool]

Bought a used car for $13345 it says annual interest rate is 24.88% finance charge is $22,933, amount financed $24,549.15 total payments $47482 total sale price with 3k down is $50482.56

[BoopBoopBeep]

Do not procreate. We don't need you passing your financial literacy onto other people. In what world did 24% interest on a depreciating asset make sense?

This has gotta be a troll.

[Hassaniscool]

You wanna see the contract

[Hassaniscool]

www.way.com/.../

[BoopBoopBeep]

No I'm sure it's there. I didn't say you are illiterate, I said you are financially illiterate. If you signed a car note at 24% then yes, that would apply.

Please see: www.bankrate.com/.../#average

So you saw this in the office/back of the docks/wherever you bought this car and thought, "Yeah I can swing this... this makes sense." Brother... help me out here... how do we get you out of that deal?

[BoopBoopBeep]

Ok, that changes nothing. If someone is allowed to charge you 68% it's still incumbent on you not to do it. Did we learn nothing from the housing collapse?

[Astarlessnightsky]

Holy moly, did you make a mistake with the decimal point at the interest rate? 24% thats a ripoff. 2.4% would be something more reasonable. And than the price doesn't quadroupel.

[Redstang88]

If the car is 13 grand how is the amount financed 24? And 25% interest is double the worst I’ve ever heard of

[Hassaniscool]

24 with add ons and sales tax
My credit score is fair

[Redstang88]

11 grand is a lot of add ons

[Hassaniscool]

Yeah I'm gonna get em canceled

[Redstang88]

Hope you can, seriously why the hell did you agree to that?

[Anonymous]

You're getting hosed

Buy cheap but reliable unless you can pay cash