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Joined: May 2000
Posts: 4,476
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OP
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Joined: May 2000
Posts: 4,476 |
so - i need to refinance my car, but in calling my lender the guy suggested that since i have a balance under $7,500 (which is usually the low-end of the "good" rates) i'll have a 15% loan on my hands...
he suggested checking into my credit card company to see if i could carry the balance at a good rate... so Citibank has the offer of 3.9% until it's paid off - what do you guys/gals think?
Todd Christ SVT Contour Registry
MODS: KKM Intake, SHO Shop Y-Pipe, Bullit Fuel Door, Edelbrock RPM Resonator
'98 E0 SVT Contour #1037 of 6535
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Joined: Apr 2002
Posts: 452
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If it's 3.9% until it's paid off FOR SURE, then go for it! You have to be careful though because some of those balance transfer deals are only good for a limited time.
Silver E1
I'm afraid Speed Demon has given me the mod bug.
AIM: Davo7Wins
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Joined: Mar 2001
Posts: 1,041
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And some of deals only last for a short period than Interst rates (APR) jump up to 19% or so...
Just read the back of Citibank info.
Sounds good though. Credit Unions are nice too.
Silver 98 SVT Contour E0 #4124 (Currently on Life Support) Built 11/97 Bought 1/98 Eibach Pro Kit \ Koni \ Niche Pultec 17"x7.5 \ Yokohama Parada 215/17/40 \ Shaved Wheel wells / Brembo-KVR Cross Drilled Rotors / KVR Carbon Fibre Brake Pads / Aeroquip SS Brake Lines \ 21mm Rear Progress Tech. (Powder Coated Black) \ Superchips Auto Meter Pro Shift Light \ Extrude Honed \ Stripped Resonater Street Scene Free Flow Exhaust \ Injen Technology Prototype CAI \ Weapon R filter \ Hose Techniques Red Kit \ Folia Tec Red Caliper Paint \ MOMO (shift knob, pedals, seat belt pads) \ Clarion, Sounstream, Kicker \ Optima Red Top Battery \ SVT Emblem Mods Jet Hot Coatings (25-30% Cooler) on Upper Intake Manifold, Sho Shop Y-Pipe, Cat, and CAI "Come Out...Come Out Where Ever You Are" http://www.geocities.com/speeddemons19
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Joined: Jan 2001
Posts: 212
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Joined: Jan 2001
Posts: 212 |
Also most will bump your rate to their highest interest rate if your late on even ONE payment and it will stay that way till the balance is payed!
So you could be paying 23.99% interest on your car! YIKES!
Rice is just a matter of money. How fast do you wanna look!
99 Contour Sport SE MTX
KKM filter, B&M shifter
No res, BAT kit, Aussie Bar
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Joined: Sep 2000
Posts: 1,701
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Originally posted by RT and his SE:
Also most will bump your rate to their highest interest rate if your late on even ONE payment and it will stay that way till the balance is payed!
So you could be paying 23.99% interest on your car! YIKES! I pay 19.5%  [cough]bad credit[/cough]
Nick
2000 Malibu LS
Mods: K&N, Jet-PCM
Lowered with Eibach's and on 18's,Clear Sidemarkers,Tinted all around, badgeless
Retired Vehicles: 98 Contour
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Joined: Jun 2000
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Might want to see if MBNA is still doing their 0% deal.. I did this about 6 months ago - Got $36,000 cash from them, and paid it back 5 months later. Only cost to me was a 1-time $40 transaction fee. If memory serves, it was basically free money for 1 full year, and then interest came after that. Depending on how long your loan is and how fast you can pay it off, this might not be a bad way to go.
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