“Taking out a $20,000 loan at 19.44% interest for 60 months”

Item: Taking out a $20,000 loan at 19.44% interest for 60 months
Rating: 2
Author: u_YouSuckNThatsOnGod

What Actually Happened

I may be stuck with a long-term debt burden

What I wish I knew

"To explore alternative debt consolidation options"

Advice to Someone Facing This Now

If I could tell you one thing

"Consider the long-term costs of high-interest loans"

Regret Index

8/10

Clear regret.
The downsides outweighed what was gained.

SettledMixedSevere

Advice for Someone Facing This

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Discussion

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Finance Category

2,949

Finance decisions logged. Avg regret 4.9/10 across the category.

Same Outcome Band

36%

of Finance decisions land in the severe band the same as this one.