<prompt> Human: Hello reddit,Ive been looking into financing a car and its price is 22,995. After talking to the dealer about financing 5000 down, 1000 trade in, I was told that I would be paying an estimate of 345mo on a 72-month period. Is this too high?The dealer said that this was a deal of a lifetime, but Im not sure about it. My credit score is pretty good above 760 according to FICO. If location matters, I live in New Jersey. I honestly dont know much about loans, interest rates, APR, or anything. Any insight in this is greatly appreciated!Assistant: 22995-6000 16995A 17k loan for 72 months with payments of 345mth works out to around 14 interest.Deal of a lifetime? Yes, for the bank. Youre getting fucked.Human: Thanks. I was trying to do the math and i was getting about the same for interest, but I had no idea if that interest was normal or not. Ill probably look around for a better deal then.  <response>: Last car I bought, I got 1.9 financing. But I also have a really high credit score. But lets look at the difference...You borrow 17k for 72 months at 14 350mthI borrow the same 17k for 72 months at 1.9 250mth.So we could both get the exact same car. But you would pay 7200 100 difference, times 72 months more than me after all is said and done.Hell, I could even go 60 months at 1.9 and not only pay 50 less 297month - but Id also get to stop paying a year earlier.So I guess the real point is: interest is your enemy. Remember that above all else. The banks already have enough money. Dont give them any more of yours than you absolutely have to. 