I don’t know how many young Marines I had to console about this very thing. The dealerships that pop up around the military bases are preying on the young troops and that just pisses me off.
For the record, I don’t know who this loan agreement is from and if they are in the military. This loan document isn’t a joke, and 25% isn’t the highest loan that I have seen. The really sad part is they would do this all on their own and then show up to the barracks in this nice new shiny car. At that point, it is all over as they signed the documents.
If you look at this loan agreement, the car is $89K and the finance charge is $97K, so the total for the car is $187K for a 2021 BMW M3, which Cars.com has prices for $69K.