i wanted to take out 5000 dollars and the interest rate is between 14.4% and 18% depending on credit. And i would get 3-5 years to pay it off depending on my credit. but when do the payments start? immediately after the loan or later? i forgot to ask them about that but please fill me in
2006-09-29 09:13:21 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
TOO HIGH !
You may try to get a new credit card with no interest fees for 6 months. It will give you enough time to find a better loan.
If you go with a loan, the first payment will be due for 1 month after the loan.
Good luck !
2006-09-29 09:42:57 · answer #1 · answered by Anonymous · 0⤊ 0⤋
That is some high interest rates. Is that the best you can find? If you have decent credit you should be able to get a better rate. Credit Unions have better rates than banks so check with them. Your first payment is usually do after 45 days. I bought my new car on sept 7, my payment is due Oct 20.
2006-09-29 16:19:26 · answer #2 · answered by GreeneyedCowgirl 5 · 0⤊ 0⤋
Looks like an unsecured loan, and the interest is a bit high. Payments usually start in 30 days.I would avoid it if possible, as you will pay back twice what you borrow.
2006-09-29 16:22:09 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Those interest rates are insane...Think about this, you can get a car loan for $30K at about 5-7% interest. If you have good credit that is, I would tell the bank to stuff it.
2006-09-29 16:21:57 · answer #4 · answered by joe b 3 · 0⤊ 0⤋
Sounds like a really high interest rate. You can get a credit card with 0% for a year if you shop around.
2006-09-29 16:20:39 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Most of the time the payment is due 30 days after you get the loan. They will answer this question, when you go and sign your paperwork.
2006-09-29 16:22:16 · answer #6 · answered by loves2dream2003 2 · 0⤊ 0⤋
Usually your first payment is due 30 days after you receive the funds.
2006-09-29 16:31:39 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Sounds about right for an unsecured loan. Ask though if there is any penalty for early payoff.
2006-09-29 16:22:21 · answer #8 · answered by U can't b serious 4 · 1⤊ 0⤋