Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Prices Paid: Buying & Leasing Experiences Hyundai Azera Prices Paid and Buying Experience
1084 messages, Last post on Nov 10, 2009 at 6:26 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
|
|
|---|---|
|
Replying to: gamleged (Dec 23, 2007 7:01 pm) My son was able to do this with a transfer of credit debt to a 0% 12 month loan.
|
|
|
Replying to: floridabob1 (Dec 24, 2007 3:08 am) I asked an advisor why companies would basically give money away on a 0% loan (almost always with some up-front money required, of course) and he said that credit issuers are betting that you'll screw up somewhere before you pay off your debt, and then they'll retroactively raise the rate into the 30% range or so! The screw-up can be anything, from a late payment on any credit card you hold, to a late mortgage or utility payment, anything that can show up on a credit report. At this point I have nearly everything on "auto-debit" and what isn't, I pay on-line well ahead of the due date, nothing goes into the mail with a hope and a prayer where my FICO 800+ credit rating in concerned!... 
|
|
|
|
|
Replying to: gamleged (Dec 24, 2007 9:06 am) You are correct! The rule is NEVER be late on a no interest loan. It will revert to a high interest rate going back to day one. |
|
|
Replying to: gamleged (Dec 24, 2007 9:06 am) If you do the same for 6 months, your effective rate is 12%.. And, as noted, if you don't pay it off, the rates skyrocket. It is seldom a great deal, in any case.
|
|
|
|
|
Replying to: kyfdx (Dec 24, 2007 3:01 pm) If you play your cards right, and there are enough banks available, you can go forever without paying interest. |
|
|
Got what I thought was a great price. I was a little concerned about the car having 80 miles on the odometer. After I bought (Saturday, 12/22) I read the posts about front end problems. Didn't drive the car yet (only home from the dealer). Sure enough, build date is Feb/05/07. Also, I paid $30 for carfax. Carfax reports on Jun. 01/07, this VIN had a pre-delivery inspection. Does it mean it was sold to another customer who may had subsequently returned it? Should I go back to the dealer about the two issues? TSB and pre-delivery inspection? Any advice is greatly appreciated. I know, I should've looked into these before signing. Thank you!
|
|
|
Replying to: kyfdx (Dec 24, 2007 3:01 pm) If you do the same for 6 months, your effective rate is 12%.. " I don't see it. 3% is 3% (or maybe 3.2% if you count forgone interest for a year on your initial 3% charge). And if you pay off the debt early at six months the 3% becomes an effective 6%...
|
|
|
Replying to: andysam (Dec 25, 2007 4:44 pm) |
|
|
Replying to: gamleged (Dec 25, 2007 7:24 pm) Make six equal payments of $17.17... total paid = $103. Pull out your trusty amortization calculator (What? forgot it in your other pants?) $103 paid over 6 months on a $100 debt = 10.28% APR. That's assuming you can amortize the fee over the six months... If you actually have to pay the fee upfront, then the imputed rate is higher. Of course, if you make minimum payments, then pay the rest of the principal at the end of the payment period, then your imputed rate is lower, as you had use of more of the money for a longer period of time. If the repayment and "zero" interest is over a 12-month period, then the imputed rate is 5.42%. (assuming a 3% upfront fee) Regards, kyfdx (free money isn't always free.. it might be, but not necessarily)
|
|
|
Replying to: kyfdx (Dec 25, 2007 7:33 pm)
|
|
You are here:
Forums
Prices Paid: Buying & Leasing Experiences Hyundai Azera Prices Paid and Buying Experience
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
2010 Hyundai Azera
Browse by Board
Browse by Topic
Today's Chats
