I’m gnashing my teeth right now

I checked my car loan account, and instead of a balance owing of $8265, the balance stands at $8302.

*sigh* Why the extra $35 or so?

Well, first of all it’s time for the all-important half-yearly $25 administration fee. What a crock, they do NOTHING for that money that isn’t more than covered by their profit from the interest. However, it’s part of the terms of the loan, I’ve always known about it and I just have to accept it.

But as well as that, my interest rate has gone up enough to add another $10 or so, based on last month’s balances. By the projected end of this loan (18 weeks and counting by my sped-up timeline) this will cost me an extra $50 minimum in interest. Aaargh!

(On the plus side, I probably would have been more disappointed if I’d thought I’d cracked the $8K mark, only to find this had happened and pushed me back over it again!)

Of course, I could probably cope with this better if I didn’t get a letter almost every month telling me how I am welcome to `redraw the $xx in extra repayments you have made’. Currently I am eligible to redraw $4172. But there are strings attached – that ubiquitous $25 fee is charged for accessing the redrawn funds.

Ha! You don’t suck me back in that easily …

… But what’s that you say? I could pay for new clothes and that `well-deserved holiday’ and maybe even borrow a little extra to get my next car?

La! La! La! La! (*fingers in ears*) I’m not listening!

I am SOOO not borrowing money to buy a car again!! 

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