Table 1
The Cost of Poor Credit
Credit status
APR (percent)
Monthly payment (dollars)
Total interest paid (dollars)
Cost of having poor credit (dollars)
Excellent
3.75%
$694.67
100,082.42
$0
Good
5.00
805.23
139,883.68
39,801.26
Average
7.50
1,048.82
227,575.83
127,493.41