I really do not understand how lending places can say you are getting only 3.5 % interest—and than you look at the payments and you are paying pennies off the principal and the rest is interest!. It looks more like 70% interest.

We have one payment—699.11 a month— 104..00 goes to the principal. Another ..246.86 payment… 92.00 to the actual loan… THE REST is interest!…

GRRR> It is just so lopsided— imageI know it is so the lenders get all their interest up front—but how is that legal? Dang—if something happened and 7 yrs into it you had to sell… whatever you have is 7 yrs older and you owe what you did when it was new !!

It takes a really long time to pay down a loan at that rate !.

But that is how they do it.. I am hoping as the loans get older the interest will be next to nothing and the payment will be actually taking down the loan!

So on the one loan …. I did some calculating ..and if we pd the 246 per mos—and than an additional 246. per month—the 14 yrs left on the loan would be less than 6. Now that is kind of enticing…

The other one… uggg… that has 27 yrs left on it…. so we have been trying to pay extra on that one.. slowly we are lessening the time left on it.

I love how the sales talk is –only so much a month—and we can get you into a brand new car… or a unbelievable deal on a home, or this or that… but when you loo at the contract—and see how much goes to interest if you pay the loan for the full time… man— it double the cost of the loan… ( does not seem right when it is a great 3.5% interest..??) I just wish the 401 Ks and Roth IRAs did the same thing… But their 3.5% a yr is definitely not inflated !.

Money… it can drive ya nuts…. and tonight… it is driving me bonkers..

Just does not make sense… clip art from M.S word and free clip art on google images.

Love to all…. ( can ya tell we just pd bills tonight?) Mrs Justa alias Cindy

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