Is my finance charge too high?
I have a 627 credit score so the lowest APR I could get was 10.99% The car I bought was used a 2012 Honda Civic EX w/ 21k miles and it was listed at $16,500. I put in $1500 down and when I saw my financing details, my amount financed was $18,849 and my finance charge was $6,975. I now have to pay $338 for 72 months. I didn't want to go through with the deal but my dad said I couldn't do much with my credit score so I went through with it. Did I get screwed in this deal?
Come on. 627 is not a good score. You're fu(king lucky you got approved at all.
Too late anyway. Move on with your life.
So-so. Best you can do is pay off and/or re-fi the loan as quickly as possible. Its too late to do anything else.
Sounds like your rate is higher than 10.99%.
In any event, yes, you got screwed but its too late now.
Now, 10.99% for a 627 for 72 months is not over the top excessive. But it is one you should have just said no to.
Now, you will be paying for the next 6 years. Unable to trade for probably at least 4 years.
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