Forums
New posts
Search forums
What's new
New posts
New media
New media comments
Latest activity
Classifieds
Media
New media
New comments
Search media
Log in
Register
What's New?
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Navigation
Install the app
Install
More Options
Advertise with us
Contact Us
Close Menu
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Forums
The Water Cooler
General Discussion
What’s the catch with 84 months 0% APR?
Search titles only
By:
Reply to Thread
This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.
Message
<blockquote data-quote="TANSTAAFL" data-source="post: 4073354" data-attributes="member: 27098"><p>You are paying extra to get the loan, so in essence $900 is your interest on a $25,000 loan over 84 months. Assuming you are paying a low price on the tractor to begin with (fair) and you could get the same deal without the loan I'd go for it. $25,000. With todays interest rates or the ability to invest that money it's a great deal. Only downside is your ability to get credit elsewhere, since it will go against your monthly debt service on your credit report. I do feel that the goal of banks is to enslave us with monthly payments. They win if something happens over those 84 months and you cannot pay the $260 or so payment, they get the tractor. The banks know the numbers, how much the tractor will be worth each year over those years. You just need to be careful not to incur more debt. That's my take, I'm not in the same financial position as you, my experiences in life have been different than yours more than likely. #1 most repoed vehicles are Dodge!</p></blockquote><p></p>
[QUOTE="TANSTAAFL, post: 4073354, member: 27098"] You are paying extra to get the loan, so in essence $900 is your interest on a $25,000 loan over 84 months. Assuming you are paying a low price on the tractor to begin with (fair) and you could get the same deal without the loan I'd go for it. $25,000. With todays interest rates or the ability to invest that money it's a great deal. Only downside is your ability to get credit elsewhere, since it will go against your monthly debt service on your credit report. I do feel that the goal of banks is to enslave us with monthly payments. They win if something happens over those 84 months and you cannot pay the $260 or so payment, they get the tractor. The banks know the numbers, how much the tractor will be worth each year over those years. You just need to be careful not to incur more debt. That's my take, I'm not in the same financial position as you, my experiences in life have been different than yours more than likely. #1 most repoed vehicles are Dodge! [/QUOTE]
Insert Quotes…
Verification
Post Reply
Forums
The Water Cooler
General Discussion
What’s the catch with 84 months 0% APR?
Search titles only
By:
Top
Bottom