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this post was submitted on 12 Nov 2025
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Chapotraphouse
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That's assuming you don't pay down principal. If you're paying more than $20/month on it you'll be paying less in interest every month. Whereas the 279% loan means you need to pay almost 3x the principal every month or it grows
Basically no one will give a 5% loan unless it's a mortgage with a huge down payment or you're borrowing from your 401k. Most rates are closer to 10% from banks/credit unions. A 5% loan almost beats inflation right now.
my kneecaps hurt just thinking about this