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Posted in Auto Loans
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ckrlh

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i have paid over 8 thousand in interest on a 13 thousand dollar car, how is that legal in Louisiana?

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It's legal almost anywhere and is fully revealed when you sign the papers for the loan.  A lot depends on the interest rate which can be based on your credit score.  And you will find on any loan that, from the beginning, the majority of the payment goes towards the interest, but towards the last half of the payment period, the majority of the payment goes to the principal of the loan.  That is perfectly legal. 

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