New car loans 240SX
filed in 1990 Supra
Question: I’m trying to get a new car loan and the Dealer throws this “Here’s what I’m going to do” line out and explains that he’ll set me up with a “simple” intrest loan in which I pay the regular payment but that $62 goes to the interest while the rest goes to the loan. (Is that the average interest for the loan?) In a “normal” loan a good chunk of the first payment is for the interest. I understand what is happening but I don’t understand why a Bank would do this. The big advantage for me is if it is paid off early or if I sell/wreck it. In the “simple” loan I’ll have paid off more on the car than the “normal” way.
I guess what I want to know is “What’s the catch?” Someone has to be making a buck and I’m sure it’s comming out of my pocket.
BTW: I got a Black Nissan 240SX Power/Sport package, Sunroof and AC. I’ve had it for 6 hours now and I’ve already noticed 3 things that bug me. – Hard getting in because the seats have padding around the waist area, so you’re sitting “in” the seat and I seem to hit the outside padding everytime.
– The lap belt is hard to get your hands on with the door closed.
– The button to turn on the cruise control is on the dash instead of the steering wheel.
Otherwise I’m impressed, and I think I’ll put on lots of miles before winter gets here. How are they in snow?
Answer: And my ‘88 Beretta GT has the “power on” on the stalk and the other buttons on the wheel itself. My ‘89 S10 has all the cruise stuff on the stalk.
By the way, just last night I checked, and sure enough, even I (less than 5′8″) can turn the lights on in both these vehicles without letting go of the wheel. Not that I care, or do, but I just figured I’d mention it.
The only control I dislike in either of these two vehicles is the placement of the wiper controls in the Beretta. You do need to either remove your hand or stretch your figures to turn them on, which is a nuisance in misty conditions. I suppose I should start using the intermittent wipers, but I never really liked such things.
Want to give your own answer? Want to comment?