Someone please explain this to me. A finance company used this as an alibi to rip me off last month...
I think I understand it alittle. Adding up 1,2,3,4,5,6,etc until you get to 12 is 78. That corresponds with the number of months in a loan. Basically what this is, is a prepay penalty. You pay early, you are still responsible for the entire amount of the loan; principle, interest, fees, and whatever else was in that contract. Make sense? YES. SLIMY??? YES
