Sure, everyone understands what goes into taking out a five -
year car loan then paying it off with interest in installments over the next 60 months.
Not exact matches
I've been asking myself this for
years, and having discussions about this with pastors; It's as if becoming a Christian is like buying a new
car but no one tells you the interest rate on the
loan or how much it will cost you each month,
then the
car breaks down and they tell you that you can't return it or exchange it for another because it's the «one true
car» and «once you buy this
car, you'll always own this
car».
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Also, if you stick to the 4
year rule,
then your
car payments will be more expensive than if you had opted for an 8
year auto
loan.
Also, if you have a
car loan that you can't reasonably expect to pay off in under two
years,
then you may want to consider selling your
car and getting a less expensive one (even if you're upside down with negative equity).
Then, put the money you would be paying on an auto
loan into a bank account and save for a slightly better used
car, which you can afford within the
year.
That; s why I am thinking bankruptcy is a better option because I can discharge my CC debt, start paying only the student
loan she is on and
then by the time my
car is paid off, 5
years, I will have monthly income freed up to begin paying the others.
Then you need to decide if 3
years from now, you can afford the MMI payment, your
car payment, the federal
loan payment and the private
loan payments all at the same time for at least two more
years until MMI and the
car is paid.
You can use bad credit
loans for just about any reason, including money for emergencies, wedding, honeymoon, engagement ring, new baby,
car repair, home repair or even a funeral.Bad credit
loans can be funded in as soon as 24 hours, and
then are repaid over several
years.
Sure, I got a crappy 12 % interest rate on the
loan, but I eventually refinanced the
loan to 10 %, and a shorter term, and
then I paid the
loan off early, about two - and - a-half
years after I first bought the
car.
Whereas U.S. consumers have used leasing mainly to flip their
cars every three or four
years, more than half of Canadians have traditionally bought out their leases and
then switched to
loans, he said in an interview.
If I want to refinance a
car that is two
years old, and getting a new
car loan is better APR
then a used
car loan and even a refinanced
loan, why does it matter which way you go?
So, unless you have the discipline to pay down your home equity line of credit above the minimum payment to pay off the debt from the
car purchase in three to four
years,
then you're probably better off taking the
car loan.
This would be $ 10,000 x 3 % = $ 333.34
Then multiply that $ 333.34 by four, the number of
years of your
car loan.
Then, put the money you would be paying on an auto
loan into a bank account and save for a slightly better used
car, which you can afford within the
year.