I have been approved for 6.99% refinance on my 10% used car loan. I owe 4 more years on the loan. I’m too lazy to refinance but obviously I should. How stupid would I be to not refinance? Also, I’m too overwhelmed with work and life in general. Just don’t have the energy.

like
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

Refinance. It’s not like your refinancing a home. This is much easier and it’ll save you a lot in four years.

like

I promise I will.

like
Recent IconRecent

10% on a car loan is highway robbery. I’m assuming you don’t have good credit?

likesmart

Dude, you need to get some help. If you can't muster up the energy to put more money in your pocket by filling out a few forms then something is really wrong.

like

I will do it. I asked because I clearly just wanted you all to tell me this for reassurance. Thanks.

I didn’t have good credit because I had a rough start to adulthood. I knew it was highway robbery and worked to build my credit back up and now I’m approved for 6.99%. Just so behind in many areas of life I just lost the drive to care anymore. I know it’s alarming. I have a finance degree. But it’s where I’m at right now and I will eventually do something about it. :/

like

OP you've got this. I'm a perpetual procrastinator and recently suffered massive burnout at work.

I was unemployed for most of 2 years after graduating in 2008. Made only $40k in the years after that. I didn't hit $100k until 30 and didn't feel caught up to where I expected /wanted to be until I was 33ish.

Just keep working at it and you'll get where you need to be. And it sucks that those who are in the less advantageous positions usual get hit hardest (like highest interest rates, for example). Just think about it as the cost of doing business and now you're working to a better future.

And honestly, if you really are super demotivated and potentially depressed, please talk to someone. I starting talking to a counselor for the first time to deal with my work stress.

like

I would refinance ASAP. Obviously you need to figure out what you would save but I can’t imagine it would take that much effort.

like

I would pay that off ASAP. 7% is ridiculous

like

Even 6.99% sounds crazy high to me. Have you shopped around? Looked at your local credit union?

like

I’d recommend checking with a local credit union. I had a loan through Chase at 5.99 (first car purchase) at refinanced down to 2.49 from a local credit union

like

Hijacking to ask others but I bought a used car a year ago and the lowest rate I could find was 6% even at local unions. Spent 3-4 days calling around and looking online. 800+ credit score. Is it dependent on the amount of the loan? Type of car? New vs. used? State? Keep seeing that I got hosed but literally couldn’t find anything better.

like

Appreciate it guys, thanks for the insights

Not sure where you are or your credit status, but DCU is offering 1.99% for up to 65 months.

Post Photo
uplifting

Vs 10%

Post Photo
like

Refinancing a mortgage didn't take that much time once I narrowed down the lender so I can't imagine refinancing a car loan taking all that long.

Figure out how much you will save in interest and see if it's worth 2-3 hours of your time. I imagine it's a pretty good return for relatively minimal work.

On another note, is 6.99% really the "good" going rate for a used car. I feel like u less you're buying an expensive car, might as well buy new with 0-2% financing over 5-7 years.

Do you have negative equity on the vehicle? Do you have bad credit?

I’m gonna keep the car. I take good care of it and it’s fully loaded so I have everything I need. I can aggressively pay it off in 2 years. I’ll take the refinance and use it as an example lesson. I walked into a dealership by myself and never had any prior coaching on financing a car. So while I could have done better research, what happened happened. The car is also helping me build my credit. But for the future I’ll know what I need to do. Thank you so much for all your input. 🖤

like

At those rates just pay it off now

If there are no fees, then refinance. Otherwise run the calc to see if refinancing makes sense. Then seriously work on cutting your discretionary spending to aggressively pay it off. (No starbucks, no alcohol, no shopping, no eating out, etc). I’ve been a staff working crazy public accounting busy season hours with similar kind of pay. You work at EY there’s literally no way what you’re making isn’t enough. And if it’s really not enough, start looking to cut down your non-discretionary expense. Look for cheaper rent.

How much is the loan?

But you’re not enjoying the fruit of your labor... apparently your labor is not producing enough fruit otherwise you wouldn’t be borrowing at 10% 🤭

like

Related Posts

How many emails and/or Slack messages do you receive and respond to on a typical day? My employer wants everything answered within 24 hours but in reality responses need to be made almost immediately. This makes getting back on task and being productive almost impossible when there are constant interruptions. Any advice on this or asking for accommodations? I think my best option is to change jobs.

like

How much is the CTC offered to GET and PGET joining this year at DTICI?

Also are the packages offered different if our alma mater is IIT/NIT

like

Is a JD a good move? I am currently a claims analyst for a top brokerage firm in NY. However I also want to attend law school as I think it will grow my career. Is this the right move? I plan to go into labor law (I.e. littler and Jackson Lewis) or an attorney for an insurance firm as a backup plan.

Freezing eggs. Tomorrow is the egg retrieval. Hormones are through the roof. Please tell me that 1) it doesn’t hurt, 2) these feelings aren’t real (it’s getting crazy in my head)

like
helpful

How many Firm (non-billable hours) a year do you commit, where do most of them go, and what’s your gender?

like

Has any lateral hire received variable in Capgemini, who joined 1st Oct 2021 or later?

like

Anyone have any advice on the following situation: I’m struggling with a lack of confidence at work and it doesn’t help coworkers are constantly talking down to me because of my age. Having a hard time staying confident and positive when dealing with difficult coworkers.

like

Looking for Seattle opportunities.. Have almost 3 years of Oracle functional experience.. trying to do something with cloud.. Taking AWS SAA in 2 weeks. Any recommended openings or referrals?

like

Big 4 Directors (or equivalent): what are typical hours you’re working these days? Currently at mid-tier and contemplating a switch, but generally working 45-55 a week, which isn’t too bad.

like

Did a fair bit of copywriting before I became an AM to get my feet wet in the ad industry. Has anyone here made the switch from account service to copywriting? Continued in comments—

like

Just heard that property prices are soaring in Florida, the news reported that mortgage rates are doubling. Meanwhile I’m over here in semi-rural Iowa, wondering if I will ever make a sale again…

like

Starting to feel a little defeated. How do you deal with an executive that works on their calendar too? And doesn’t really give you full control? I was moving things around making a meeting work and then my executive moved everything around and screwed up everything I worked on.

like

Hi , I recieved my YEA with a rating of 5 out of 5 .. What all can I expect from this rating. Please throw some light on this

like

Looking to connect and get insights from IBM consulting practice in Canada 🍁

I posted in another group but not many responses, thought I’d try here!

Post Photo
like

Had a meeting with my counselor yesterday and I got a 2. She thinks I should've gotten a 1 but with this new YE format, she could not suggest/defend a rating. Bummer!

like

Pics of kids with food on their faces makes me want to vom every time I see them on social media 🤮 no thank you!

likesmarthelpfulfunny

I recently had an interview with HCL and cleared 2 rounds of technical interview. I waited for a week for HR call but no such call was received. I then contacted the POC who scheduled the interview (he is an HCL employee) and he said that I have been shortlisted and will receive HR call shortly. This was 1 week ago and I have still not received any call. Has anyone else faced the same issue? And if yes, should I even expect a call fro HR?

What are some agencies that have strong of culturally relevant work/clients? Tired of working with healthcare and trying to make a move into something I’m more interested in or cooler at least

like

Additional Posts in The Work-Life Bowl

Cheers to the weekend! 🌮

Post Photo
likefunnyupliftingsmart

Am I being dumb here - just purchased a fridge from Lowes, delivery next week. Just found out through company perks that I could get it from a different retailer for $600 less but it is back ordered meaning it could be weeks or months until I get the fridge…. I am leaning toward keeping my order with Lowes … current fridge works, it is just old and shelves / ice maker is broken.

like

I have two options. A 2018 Audi Q5 prestige 18,000 miles for about $37k and a 2021 1,233 miles premium plus for about $41k. Which should I pick?

likehelpfulfunny

Spent my first day of PTO trying to get a PS5. In the end I emerged triumphant!

like

I am currently in sales and I hate it. Does anybody know of any good career paths I could pivot to that I could make a decent salary that is not sales?

likefunny

You are rich and have everything you need. You have 2 young kids and just turning 40. Your wife is throwing a fancy birthday party for you. What birthday gift will be meaningful to you? Budget is $150. Thank you!!

likehelpful

Any analyst on a 4-month contract ending in April have news on contract renewal?

like

Are any of you who still have your jobs feeling "survivor's guilt?" How are you dealing with it?

like

Anyone worried about not being able to see boyfriend / girlfriend if we are put under lockdown and you don’t live together? Can they restrict people from going to each others houses?

likefunny

45% of NY State hospitalizations over the past 7 days came from 1 of 10 zip codes. We’re finally at a point where we can have more targeted strategies.

like

No commuting and no in person meetings are doing so much for my mental health and anxiety! ❤️🙌🏼

likeupliftingsmart

Anyone know if Asthma makes you eligible for a Phase 1b/1c vaccine?

like

Last year companies across the board changed their logos to reflect pride month. This year it seems like we are afraid to acknowledge and celebrate two groups at once.

like

PSA Supermarket Sweep is on Netflix

likefunnysmarthelpful

Does anyone in the DC area have a cleaning service they recommend?
To create better work-life balance, I’m starting to delegate some things in my personal life and cleaning is at the top of the list. Appreciate the recos in advance!

like

My building management increased rent. Tried to negotiate and did not work. Are they kidding? Increase rent during these times? LOL Now I don’t want to stay here.

like

Sharing because this it’s too sad to have so many unvaccinated in the hospital.

Post Photo
like

What do you think of quiet-quitting to improve your work-life balance?

like

Welp, KPMG just scrapped the 9/1 return-to-office date and said just return when you feel comfortable.

like

Has anyone braved the gym since it reopened out here in SoCal? What are your experiences so far? Currently have LA Fitness since I don’t need much from my gym. But open to upgrade to Equinox if it’s safer/more sanitary.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal