| ...try a collateral loan. My bank offers personal/signature loans for older cars but will also do a secured loan (guaranteed by a CD for example) for 1% over the CD rate. The bottom line is that I can get a $10K loan (guaranteed by a $10K CD) for 5% interest (4% CD + 1% fee). My CD still accrues normal interest and I get a cheap loan. They give out a no risk loan and get 1% in fees for the trouble. Other than that, you're looking at buy-here-pay-here rates at 20%++++ and a repo when your 2 seconds late with the weekly payment. BTW, for those with credit issues, this requires no FICO check (at least at my CU) because its guaranteed. Of course, if you have FICO problems you probably don't save to start with...but you'll have to talk to Suze Ormann about all that. Good luck either way Tim.
 |
