Still laughing about Nepathetic’s 7 year car loan. By the time she is done paying it off, that piece of shit will require more $ in maintenance than it will be worth.
That's why car loans aren't a great idea in the first place. The second you drive it off the lot, it becomes "used" and starts losing value. But if you are going to do it, dealerships will fall over themselves to get you in a loan at a decent rate, sometimes even zero interest for the first year or a couple thousand cash back to cover the originating costs.
The fact that her stepfather got her into a 7 year loan at 7% APR is just mind boggling. A Versa only goes for about $15K, why are you extending that to 7 years with that interest rate? You're paying an additional $4-5K for it, not to mention the additional cash you're going to have to put in after 3-4 years when things start breaking down on the car.
Also the picture of the car in her driveway shows that she lives in a pretty good neighborhood and her only sacrifice financially to get a brand new car is to cancel GamePass and not eat out as much. And her previous car was a Lexus. But MUH OPPRESSION!
