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According to myFICO, someone with a Credit Score of 720 could take out a $200,000 30-year fixed rate mortgage at 6.179%. This life among the mortgage, they'll pay about $240,000 in interest. Someone with a 650 Credit Score would obtain the same mortgage at 8.992% and pay about $328,000 in interest - almost $100,000 more! Obviously any good small difference in interest on a motorized vehicle loan may cost you an estimated $1,000 in extra fascination.
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