My husband says its stupid but I think it will save us money,I will have it paid off in abut 13 monthes,its a second car and we need one BAD.
2006-06-28 01:13:39 · 3 answers · asked by Briana's mum 3 in Business & Finance ➔ Credit
It is a perfect way to save money by not paying interest. however, you need to pay the entire balance off with in that 12 month time, otherwise, they will charge you interest on the entire amount, not just what is left over at the end of 12 months. Read the fine print on the offer.
Other than that, go for it, as long as you pay it off.
2006-06-28 04:59:57 · answer #1 · answered by icsowesmemoney 3 · 0⤊ 0⤋
Why pay ANY interst then? Pay it off in a year, and don't pay ANY interest. The only thing about Credit Card debt is, when an emergency comes up? you can get stuck! IN THE REAR! You don't get your car paid off in time, and then, ONE OF THE KIDS NEEDS THEIR APPENDIX OUT! OR THE REFRIGERATOR BLOWS UP! Then you have to use MORE Credit, and THEN it becomes MORE and MORE REVOLVING DEBT! It's JUST LIKE A FRIEND of mine who KEPT getting in GAMBLING debt, and ended up COMMITING SUICIDE!! PAY CASH!!!!!!!! FOR EVERYTHING!!!!! Begin something your parents tried to teach you, DISCIPLINE, and start a CASHH ACCOUNT used for BUYING the things CREDIT CARDS want you to use the CREDIT for in the FIRST place. One college gal built a $22 balance on her credit card, when she kept, NOT making the MINIMUM PAYMENTS on the card debt, the INTEREST rate went to like 24%, and ACCRUED A $22,000+ Credit Card bill!! JUST FROM A $22 pair of shoes! Is THAT silly? WIAT, and BUILD the CASH through SAVINGS, and PAY CASH!! ALWAYS!
2006-06-28 08:29:54 · answer #2 · answered by thewordofgodisjesus 5 · 0⤊ 0⤋
I think it's a good idea. 6% isn't a bad interest rate for a used car.
2006-06-28 08:16:07 · answer #3 · answered by gummi bear 3 · 0⤊ 0⤋