I don't want a specific "car loan" "house loan" or anything else... i just want $20,000 to which I could pay a nice round $300 ish montly payment. Any ideas....
2006-12-06 05:29:33 · 4 answers · asked by Richard A 1 in Business & Finance ➔ Personal Finance
If u have a house that u can use to put up for the $$ you get your $$.. as long as the house has value as in all loans and liens are not more that what u want to borrow
2006-12-06 05:34:48 · answer #1 · answered by scubastieb@yahoo.com 2 · 0⤊ 0⤋
Just save $300/month for about 5 years and you will have $20,000 and no interest charges. If you put the $300 in a money market account you actually get interest back. If you can "afford" a $300 payment per month you could probably save $20000 faster by putting away extra money each month. Plus the risk of having a loan out there if you loose your job or become disabled, etc.
If you have a loan just to blow you will pay at about $5000 in interest just to have $20,000. So you are paying the bank to have $20000 when you could have the bank paying you interest.
2006-12-06 13:38:47 · answer #2 · answered by mldjay 5 · 2⤊ 0⤋
If you don't have specific business need for this money, do not borrow it. You would be living beyond your means, and it will land you smack dab in the middle of the rat race.
2006-12-06 15:44:21 · answer #3 · answered by Monstblitz 4 · 0⤊ 0⤋
Bank or loan company. But what will you use for collateral, no one is just going to give you 20g's on the cuff.
2006-12-06 13:35:10 · answer #4 · answered by Anonymous · 1⤊ 0⤋