@felix.padilla.eng: LOW CAR PAYMENT BIGGER TOTAL INTEREST Same $20,000 loan at an assumed 8% nominal annual rate, monthly payments and no fees. APR equals the nominal rate in this simplified model. The longer term lowers the payment but raises total interest. These are model assumptions, not current offers. Insurance, fuel, maintenance and taxes are extra. Compare the total repayment and a term you can sustainably afford, then use your full budget in Deco. Calculate the car budget you can afford. Search “Deco budget” in the App Store. Source https://www.consumerfinance.gov/ask-cfpb/what-things-can-i-negotiate-when-shopping-for-a-car-or-auto-loan-en-2132/ #PersonalFinance #DecoBudget

Felix Padilla Engstrom

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Friday 23 October 2026 12:03:16 GMT