OneMain Financial - One Main Financial is a rip-off
2 comments
I have a loan with One Main Financial at 35.83% I pay $335 a month if I'm lucky$20 goes towards principal each month
Reason of review: Pricing issue.
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Funny, funny! At the start of the loan, most of the payment goes to principle.
That's the case with just about all loans! As time goes on, more and more of the payment goes to principal. When all the payments are made, all the principal and all the interest are paid down to zero and you owe nothing! Sorry, there's no "Ah hah" moment here.
You haven't "caught" them doing anything. It's an age old process called "amortization"!
NO VALID COMPLAINT HERE.
Complainer has no understanding of amortization!
Correction! Most of your payment goes to interest not principal. I am paying extra on my car payment so the principal will go down quicker.