<prompt> Human: SO we totalled our car deer and are probably getting 2600 for it. I went to the bank and asked about a car loan for 3000, figuring wed have to settle for something in the 5000 range were poor. Got pre-approved and was told monthyl payment for 4 years would be around 75. Doing the math 12 months x 75 x 4 years gives us a total of 3600. Would that make the rate like 20? that seems crazy...  <response>: Ask what the APR is. Perhaps theyre trying to make you think about it in terms of monthly payments rather than actual cost to mislead you.Small loans on cheap, older cars, are likely much riskier for the bank than most. I suspect they interpret the small amount as indicating that youre financially insecure and the age of the car as further indication that it will break and the financially-insecure borrower wont fix it or keep paying the note. 