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car loan
I just bought an XTerra and they screwed me over with the amount that I owe... I want to transfer the balance to a credit card with a low interest rate for the life of the card, rather than a credit card with a 0% until a certain date - does anybody know of this? Or know of any other options? My car loan was $20,000 more than it should have been... Thanks!
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Posted 2/27/07 9:23 PM  |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: car loan
how could your loan be $20K more?
if you want to FM me, I work in Finance (and own an Xterra) and could help you figure it out, im not quite sure I understand how your loan is so much more..
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| Posted 2/27/07 9:51 PM |
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Nik09
LIF Adult
Member since 5/05 1982 total posts
Name:
Nikole
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Re: car loan
$20,000 is a lot of money to be over the price you expected it to be. I would question that first.
As for the credit card. I think it's a great idea just be sure that the interest stays lower than what you're currently paying on your car loan. Also, be sure to find out if there is a fee to pay your loan in full before a certain amount of time. Dealerships and Banks are counting on your interest to make money. They may penalize you for paying off before a certain # of months.
Good luck!
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| Posted 2/27/07 9:51 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: car loan
there ususally isnt prepayment penalties for a car loan...
but i dont think you'll find a CC that will give you 0% for more than a year or two.
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| Posted 2/27/07 9:53 PM |
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Gertyrae
Peace out Homies!
Member since 5/05 20046 total posts
Name:
Gerty ®
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Re: car loan
I have a friend who did this...check the payoff amount on the car.
As far as the $20K over what you thought, are you figuring the total cost of the payments? Cuz that would be normal over a 6 year loan.
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| Posted 2/27/07 9:54 PM |
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Nik09
LIF Adult
Member since 5/05 1982 total posts
Name:
Nikole
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Re: car loan
Posted by Meaghan729
there ususally isnt prepayment penalties for a car loan...
Mine did  there was a penalty if I paid earlier than 18 months
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| Posted 2/27/07 9:55 PM |
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Re: car loan
I don't need 0%, just something lower than I have now for the life of the card... I wasn't paying attention to when we signed the paperwork because the dealership closed at 9 and we were still there at 10:15 signing paperwork, so by that time, I really wasn't paying attention and just wanted to get out of there... I think that the people added 10,000 instead of subtracting it... I'm going to have DH go talk to them tomorrow, but it's just frustrating. thanks though!
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| Posted 2/27/07 9:56 PM |
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BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
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Re: car loan
not many companines offer LOL (life of loan) deals... and if you do, it for current customers and not so much a new customer... even if you do find something, to get approve for X amount after a new car loan is started is hard..
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| Posted 2/27/07 9:56 PM |
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Re: car loan
Posted by Nik09
Posted by Meaghan729
there ususally isnt prepayment penalties for a car loan...
Mine did there was a penalty if I paid earlier than 18 months
and I don't have a penalty for prepaying, I've already checked that out!
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| Posted 2/27/07 9:56 PM |
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Re: car loan
Posted by Gertyrae
I have a friend who did this...check the payoff amount on the car.
As far as the $20K over what you thought, are you figuring the total cost of the payments? Cuz that would be normal over a 6 year loan.
No, I've already checked that, I have 10,000 in finance charges and that all matches up fine...
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| Posted 2/27/07 9:58 PM |
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BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
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Re: car loan
Posted by IslandPrincess
I don't need 0%, just something lower than I have now for the life of the card... I wasn't paying attention to when we signed the paperwork because the dealership closed at 9 and we were still there at 10:15 signing paperwork, so by that time, I really wasn't paying attention and just wanted to get out of there... I think that the people added 10,000 instead of subtracting it... I'm going to have DH go talk to them tomorrow, but it's just frustrating. thanks though!
when dealing with $$$$, take your time and read everything. it shouldn't matter what time it is...if its that late, you should of came back the next day. the dealer would be worry you won't come back but that is there problem, not yours..
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| Posted 2/27/07 9:58 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: car loan
Posted by IslandPrincess
I don't need 0%, just something lower than I have now for the life of the card... I wasn't paying attention to when we signed the paperwork because the dealership closed at 9 and we were still there at 10:15 signing paperwork, so by that time, I really wasn't paying attention and just wanted to get out of there... I think that the people added 10,000 instead of subtracting it... I'm going to have DH go talk to them tomorrow, but it's just frustrating. thanks though!
did you get the loan thru Nissan as well? BC if that is the case, that they added wrong, someone has $10K they shouldnt have....and you definitely need it back! make sure DH goes with your canceled checks from the downpayment and all the info you have.
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| Posted 2/27/07 10:00 PM |
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Re: car loan
Posted by BabyBoy
Posted by IslandPrincess
I don't need 0%, just something lower than I have now for the life of the card... I wasn't paying attention to when we signed the paperwork because the dealership closed at 9 and we were still there at 10:15 signing paperwork, so by that time, I really wasn't paying attention and just wanted to get out of there... I think that the people added 10,000 instead of subtracting it... I'm going to have DH go talk to them tomorrow, but it's just frustrating. thanks though!
when dealing with $$$$, take your time and read everything. it shouldn't matter what time it is...if its that late, you should of came back the next day. the dealer would be worry you won't come back but that is there problem, not yours..
Yeah, I know it's my fault. After sitting there for five hours, my mind just started to wander, since they said we would be done by 8pm.
Thanks for all of your suggestions, I appreciate it!
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| Posted 2/27/07 10:00 PM |
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BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
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Re: car loan
Posted by IslandPrincess
Posted by BabyBoy
Posted by IslandPrincess
I don't need 0%, just something lower than I have now for the life of the card... I wasn't paying attention to when we signed the paperwork because the dealership closed at 9 and we were still there at 10:15 signing paperwork, so by that time, I really wasn't paying attention and just wanted to get out of there... I think that the people added 10,000 instead of subtracting it... I'm going to have DH go talk to them tomorrow, but it's just frustrating. thanks though!
when dealing with $$$$, take your time and read everything. it shouldn't matter what time it is...if its that late, you should of came back the next day. the dealer would be worry you won't come back but that is there problem, not yours..
Yeah, I know it's my fault. After sitting there for five hours, my mind just started to wander, since they said we would be done by 8pm.
Thanks for all of your suggestions, I appreciate it!
trust me..i know also...i got to a dealership around 6 ish... on a sunday, dealership closed at 9 or so, didn't walk out till 10:30...place was shut down except for our area...we kept going to leave, they check with manager to lower rate, monthly payment etc...
they are all about making the deal now.
if they mess up, they should fix it...i would go down asap to straigthen that out.
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| Posted 2/27/07 10:15 PM |
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