How do my loan terms look?

Stock photo from...I don’t know where

Remember those bad auto loans I used to post? Well I used to like the input I would get on them. Especially considering how they highlighted how bad auto loans were/are getting. But I never really got into my auto loans. So here they are.

On my old Sonic as I had went over before, my credit was so so at the time. Being a young father working and going to school, I was tired of taking the bus so I needed a car. So I went to Hertz Auto Sales and got into a 2013 Sonic. The car was on sale for $9800, down from just under $12 grand. With an 18% APR, I put $2500 down for 72 months at $199 a month. The $199 a month was great, but the APR was atrocious.


Fast forward a few years when the Sonic started going bad at about 141,000 miles, and I trade it off onto the 2018 Sonata. I honestly think I got a good deal because it could have been worse. I had paid my Sonic down to just under $5 grand. Now I’ve explained what happened before, but let me touch on it quickly to show how one dealer was bullshitting me and another gave me a deal.

The first Hyundai dealer I went to (Cardinale Way Hyundai) wanted me to put $2500 down, with them giving me $500 for trade in for my Sonic with a 11% APR at $480 a month for 75 months. It was a nope from me.

The second dealer I went to where I ended up getting my car (Riverside Hyundai) gave me a good deal in my opinion. My credit mind you is better, but still so so, but better than it was when I got the Sonic. I gave them $1000 down and they gave me $2500 for my Sonic, WITH the engine troubles it was having, with a 9% APR for 72 months at $452 a month. Not bad considering. Could be better of course, but could be way way worse.

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