I'm turning 18 on October 10th. And I want to finance a car instead of saving up for a used ragedy car like my peers.
So I talked to my finance teacher and asked how much interest they would give me since I just turned 18 and have no credit. He said when he was 21 they gave him 22% interest, so what he did was got out a loan from his credit union for 7% to pay off the car loan and then just paid monthly for the credit union loan since it was cheaper.
Should I do this?? Finance a car then take out another loan with less interest to pay off that loan? Or what would you suggest? What did you do when you financed your first car?
By the way, I have two jobs. And plan on using the second job to strictly pay off my car note, so how I will pay really isnt the issue, its how can i pay the least.
2006-09-28
03:53:35
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10 answers
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asked by
bootlegcrayolas
1
in
Buying & Selling