I bought a car! :D

posted 3 years ago in Money
Post # 3
Member
9412 posts
Buzzing Beekeeper

@LadyBlackheart:  Eep! Do you qualify for a low interest line of credit (or ANY line of credit, which would be less than 15%)? I am glad you have a car, but I am sad you have to pay so much interest.

Post # 4
Member
3538 posts
Sugar bee
  • Wedding: September 2013

Yay! How exciting!! Congrats! 

Post # 6
Member
9412 posts
Buzzing Beekeeper

@LadyBlackheart:  I would go to your bank and ask! You have a history there and I wouldn’t be surprised if they were willing to give you a secured loan or line of credit (as in they take your car if you don’t pay). I hate to see anyone throw so much money away on interest. I’ve never seen a line of credit with an interest rate higher than 9% and that’s high.

Post # 7
Member
11772 posts
Sugar Beekeeper
  • Wedding: May 2013

@LadyBlackheart:  Congrats on getting a car!

I had a co worker whose car broke down, she NEEDED a car same-day, and wound up with an 18.75% interest rate. It happens!

Post # 8
Member
10489 posts
Sugar Beekeeper
  • Wedding: January 2011

@LadyBlackheart:  That is a ridiculously high interest rate.  You can find CCs (and not the special promo rates) that are lower!

Is the loan secured against the car?  If so, that’s even more ridiculous.

Post # 9
Member
6073 posts
Bee Keeper
  • Wedding: August 2012

Yay for having your own car!

 

I will be in the market for one soon.  Hopefully you can find a lower interest rate in the future!

Post # 10
mswallabyBee
2070 posts
Buzzing bee
  • Wedding: November 2012 - Oak Tree Manor

Nice!! So exciting! My DH has a Kia Optima and he loves it, they’re great cars

Post # 11
Member
2114 posts
Buzzing bee

@LadyBlackheart:  yay!!! congrats!

try refinancing in a year for a lower interest rate. Great to hear you got a good monthly payment!

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