And you probably will.

 

lol, i wouldn't..not even a brand spankin new one

 

at 17%, I can't think of ANY car that's worth that

 

OP, under the current payment schedule, how many more months until the loan is paid off?

 

It might have something to do with the fact that they are making a killing on your current interest rate.

 

** speechless **

 

so far everyone has made it known that i screwed up, does anyone have any bright (logical) ideas on how to deal with it?

 

I'm trying here brother, when is your payoff?

 

1a. Find out what rate you can get approved for at a CU and how much they will loan you towards your car. This will probably be less than you owe.

2a. Call your current bank and explain that you know your rate is obscene and you are looking into other options and have found (rate from 1a). If they want to keep you as a customer they will need to offer you a lower rate. Decline their first offer as not good enough and see what they come back with.

-
Assuming they don't reduce this to a good rate:

1b. Save every dollar possible to make up the difference. This is the time to borrow from parents, etc. to get out of this loan.

2b. Once you have the difference, pay off your existing loan and move your loan to the new CU/bank.

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1c. 20 years from now you will be ecstatic that you saved/invested every penny of the difference between your current loan and your new loan. Your new luxury boat will be named "dammitjim" because of this awesome advice.

 

2012.....