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Old 08-17-2010, 04:46 AM   #1
JerseyJeff84
 
Drives: 2010 Yaris Sedan
Join Date: Jul 2010
Location: West Deptford, NJ
Posts: 28
Got hit hard on interest rate, best way to pay this down?

Back in June, I was forced into a situation where I had no choice but to purchase a new vehicle. I couldn't use my used car anymore and all the used car dealers I went to were highly over priced.

Therefore, I ended up being put into a 2010 Yaris Sedan, with a payment of $375 a month and 18.5% interest. They told me my credit wasn't bad, but that the score just wasn't high. My only "hiccup" on the report they said, was a past due AT&T cell phone account from two years ago.

I'd like to attack this loan as best as I can, but I don't have a lot of extra side money to do so. Would paying $400 a month, instead of the minimum $375 make a difference, or would the extra dent not be worthwhile?

Any suggestions or advice would be much appreciated.
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