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Say if you took out a $5-10,000 loan from the bank. If you paid that off over like, 2 months, would you still have to pay interest on it? Or does APR only apply per year?

Say if you took out a $5-10,000 loan from the bank. If you paid that off over like, 2 months, would you still have to pay interest on it? Or does APR only apply per year?

(post is archived)

[–] • 7 pts

Depends on the loan agreement.

Some will penalise you for early repayment.

Make sure to check that before taking it out

[–] • 1 pt

This is the only correct answer. Read the contract you signed. The jew has many different types of loans.

[–] • 5 pts

Oy Vey, goyim! Why would you want to pay it fast?

Take your time, ok?

[–] • 0 pt

There are alot of reasons why someone wouldn't want to pay it back immediately, even if they could.

It's not a mistake that the most well off people are often the most in debt (low interest, like mortgages).

I don't make the rules, but it doesn't mean I shouldn't take advantage of how the game is played.

While interest rates are so low, it is very easy to make more money on that money than the interest rate it cost or borrow it.

[–] [deleted] • 2 pts

Typically on top of a fee for paying early it has a negative effect on your credit rating.

[–] • 1 pt

"You can pay your bills faster than expected.....man you must suck with money, better not trust you with it."

[–] • 0 pt

You are thinking like a white man. The point of them offering the loan in the first place wasn't from good will, it was to make the shekels goy.

[–] • 0 pt

Well I get it that if the contract says 10k over 5 years with 5% pa that the bank expects 500 bucks in profit, thats what you signed, so sure you have to pay the 500 even if you payed the 10k back after 2 years.

But why the fuck the panelty then?

[–] [deleted] • 0 pt

Credit rating is simply a metric of how good an economic unit you are. If one wheel of the car turns faster than the others it does not get you to your destination faster.

[–] • 0 pt

Sorry, I forgot the goys are expandable items in the chosen game.

[–] [deleted] • 0 pt

Lower credit = good

[–] • 0 pt

Hey, SRF. How do you send a private message on this godforsaken site? Others seem to be able to do it, but I can’t find the button. With regard to your last reply to me, the kike board owner blocked me from posting, so I couldn’t respond there. But hey, he proved everything I said in that comment, didn’t he.

Anyway, this is me. Too tired to care about “the old” ways. Talking does absolutely nothing, and no one will ever wake up (as proven by their willing acceptance of this leftist shithole and its jewish censorship features). Why bother putting any effort or passion into posts anymore? It’s all meaningless.

Good to see you’re still around, though. Cheers.

[–] [deleted] • 0 pt

It's painfully obvious that you're not him. Kinda sad that you would try and piggy back off of someone else like that.

[–] • 2 pts

usually there is a fee if you pay off too fast. read the jews fine print

[–] • 1 pt

The bigger the loan the more likely you will see that mandate.

[–] • 1 pt

Sidenote: I worked with a guy who had no debt. 22k in the bank, but no debt. He was having trouble getting a secured loan because no credit. The bankers have many ways to screw you when you go outside their parameters.

[–] • 0 pt

I got a credit card about 1-2 years ago solely for the purpose of building credit. Only 4 points from 750 now

[–] • 0 pt

Crazy how that works when priorities are in order.

[–] [deleted] • 0 pt

I just paid off my car loan 2 1/2 years early and my credit score dropped 22 points. WTF.

[–] [deleted] • 0 pt

Mortgages do not have a prepayment penalty. Usually the prepayment penalty on a car loan is small. Commercial loans/leases do rape you ocassionally.

[–] [deleted] • 0 pt

For my student loans I paid them off in 6 months and I paid almost no interest

[–] • 0 pt

There's a fee for paying early, but it's far less than the interest. You pay interest only on the time it took to pay, not future interest, if that makes sense...

[–] • 0 pt

Generally speaking, if there is a fixed interest rate and payment schedule with an amortization table, there is interest built into each payment and a penalty for paying it off early because you are depriving the masters of the shekels they were contractually counting on getting.

If it is variable rate or open loan, you may be able to pay it off without being charged interest ( like furniture stores that say get it now, don't pay until 2022 etc...though they usually charge a financing fee up front, and if you don't pay it off before that date in the future, some retroactively charge interest to the date of the purchase).