Is an auto loan the same as the amount of the car cost?
For instance my auto loan is 30k, but I could have sworn my car costed less then that.
Don't understand why my auto loan is so high. My auto loan is through capital one and I got my car at a ford dealership
It sounds like you did not pay attention to the terms of the loan. And how are you figuring out the loan now? Are you multiplying the number of payments by the amount? If so, then the interest rate for the loan will be factored in. Also, when buying a car there are also taxes and various title/paperwork fees which vary by dealer. This is why it's important to understand what everything costs and going over the details rather than letting the dealer and lender arrange loan terms without your input nor understanding.
I guess if you loan is for $30,000 and you signed it, the car cost $30,000, no matter what you thought the car cost.
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