<prompt> Human: So the summer of 2014, I got a used car. This was my first time buying cars and I went with my parents. My parents paid for it.We put 2500 down and took a loan from dealerships financing arm for the remaining 8,000.Not too bad right?Well the car was a 2006 Toyota Camry. And the interest rate on the loan is 12.99. No one knew any better and now Im stuck with this thing. I looked up the market value of this particular car now and its about 4000. Thats over 6,000 in depreciation for a car thats almost ten years old.Now that I know so much more about finance and accountingmy major, I am amazed at how bad a deal I got. We never even negotiated down at all. The car had 120,000 miles on it. Granted, it still works fine but this is a lot of milesThe biggest problem is I simply accepted their word for it as to what price the car should cost from the get-goKelleyBlueBook says the car was worth about 4000.Even if I wanted to I cant sell this car as it is 3000 in negative equity. On a scale of 1-10, how much did I screw upAssistant: Thats over 6,000 in depreciation for a car thats almost ten years old.No, its not. The car was worth about 6,000 when you bought it, there has hardly been any depreciation.You paid 10,500 for an almost 10 year old car that had 120,000 miles on it that was worth about 7000.That was part of the screw up. The other part is you are paying interest on the 3,500 that you overpaid so it is costing you even more.The final screw up is that you are paying 12.99 interest when currently most credit unions are making car loans at less than 3.The best I can do is give you a 7. You might have got more but you make no mention of financing an extended warranty or something stupid like that.Human: I just got off the phone with the bank and apparently they tacked on a warranty worth over 1500 which inflated the loan origination amount. This is more on the line of fraud than it is my mistake because I very specifically said we did not wish to purchase a warrantyAssistant: The warranty would have clearly been stated in the loan documents you or your parents signed. They dont get added without your consent and signature.Human: They just kept telling us to sign here and there and there. Its so easy for someone who isnt financially savvy to be given the run around in a dealership. There has to be a better way. We specifically said we didnt want a warranty and they added it anyway. That just seems so wrong to me.  <response>: No financial savvy is needed to know you should read every legal document you sign. This is a cheap life lesson, just work during the summer, pay this off. Will only take a year 