 1977 Interest Rates... 914 Sales and Resales, I won't complain about my mortgage any more.... |
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| Brian Mifsud |
 Oct 16 2006, 07:55 AM
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Mechanical Engineer  Group: Members Posts: 981 Joined: 3-March 03 From: Penngrove, CA Member No.: 384 Region Association: None  |
While sifting through the folder of receipts and records for my '76, I found the sales contract where my car was sold Used in 1977 (after apparent short "new" ownership)
Sale price was $7500 financed at 13%!!! According to the U.S. Department of Labor, my cars "purchase price" was equivalent to $25235.00 at a 5 year rate, here's what the previous owner would have paid: Cumulative Payments: $34,450.52 Total Interest Paid: $9,215.52 CarLoanCalculator Enjoy the Calculator and see what your car was "worth".... U.S. Department of Labor Inflation Calculator |
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| DNHunt |
Oct 16 2006, 08:06 AM
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914 Wizard? No way. I got too much to learn. Group: Members Posts: 4,099 Joined: 21-April 03 From: Gig Harbor, WA Member No.: 598 |
My first commercial loan on my practice was 18 1/2 %. The first payment to principle was $3.
Dave |
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| rhodyguy |
Oct 16 2006, 08:32 AM
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Chimp Sanctuary NW. Check it out. Group: Members Posts: 22,081 Joined: 2-March 03 From: Orion's Bell. The BELL! Member No.: 378 Region Association: Galt's Gulch |
i knew guys who had that same 18.5 on their mortages back in the late 70s.
k |
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