I know the interest rates today are in the 1.5% range but I wonder what they were in the 80s and 90s. Just after the Carter presidency they must have been astronomical.
I bought a car in 1981 at 17% gmac interest. It cost about half of her original loan. I paid it off in 4 years. She’s an idiot and probably has 5 credit cards maxed out all the time.
“23 years ago” was eight years after the end of the Carter presidency.