‘Who [has] a RAM?!’: This Louisiana man shells out roughly a third of his income on car payments — with an astounding 12.75% interest rate on his auto loan

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Although he’s certainly not alone in this, 27-year-old Bryson from Lake Charles, Louisiana, made the most quintessential American financial mistake: buying a car he couldn’t afford.

During an episode of personal finance expert Caleb Hammer’s podcast, Financial Audit, Bryson — an operations manager making $48,000 annually — confessed that the interest rate on his auto loan was a whopping 12.75%…

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