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View Poll Results: Would you pay the high interst rate?

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  • Yes... it will pay off in the future

    9 20.93%
  • No way... I'd rather just not even get a new car

    20 46.51%
  • I'd consider it only if there were no other options

    14 32.56%
  • Other

    0 0%
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Thread: Would you pay a high interest rate...

  1. SNK
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    #1

    Would you pay a high interest rate...

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    Last edited by SNK; 01-05-2010 at 11:28 AM.
  2. Senior Member
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    #2
    I voted "Consider if no other options"..... Sista!
  3. Senior Member
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    #3
    No. You cannot count on refinancing as an option.
    I worship individuals for their highest possibilities as individuals, and I loathe humanity, for its failures to live up to these possibilities.
  4. Currently surviving Deployment # 1
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    #4
    I put Consider it. As someone who has had no other option, I would probably do it. Desperate times call for desperate measures. BUT it could very well screw you in the end. Its a risky choice.
  5. Senior Member
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    #5
    My DF has no credit and we need a new or newer used car because I have a 2 seater and baby will be here soon. USAA told us to take a higher intrest rate, and refinance in six months. Right now its hard to even get a high intrest loan. We are having issues finding one.
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    #6
    If you have utility bills in your name, that will establish credit. You might not be able to refinance in the future however. I'd only do it if there really were no other option
  7. SNK
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    #7
    Quote Originally Posted by Cubgirl View Post
    My DF has no credit and we need a new or newer used car because I have a 2 seater and baby will be here soon. USAA told us to take a higher intrest rate, and refinance in six months. Right now its hard to even get a high intrest loan. We are having issues finding one.
    That's exactly what they told me to do today when I spoke with USAA. They said "take the interest rate that you were given and call us back in 6 months to a year to refinance it"
  8. MilitarySOS Jewel
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    #8
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    Last edited by *skittles*; 01-04-2010 at 01:24 PM.
  9. NDNatlGuardGF
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    #9
    Someone mentioned earlier that having utility bills will help you establish credit. Unfortunately its not the kind of credit that they look for when getting a loan. I have an excellent credit score so I figured I'd get on DB's loan when he refinanced his car because his score kinda sucks, thinking we'd get a better rate. I was then told that while my credit score was very high, I didn't have much of a credit history, so I'd barely help him at all. With me in it, it only dropped by 1%! I only had a car loan for about 6 months because it took $1000 off the price. After that I paid it off with money from my deployment, so thats all the credit history I have besides me credit card which also apparently doesn't count for much.

    I would recommend looking for other options first, but if you're needing a better credit history, that may be your only one. If you just need to better your credit score, there are LOTS of other options.
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    #10
    No the finance people at Honda tried me working for a bank myself I new I could do better an I did took longer but it can be done!!!! Fight it especially of you have a good credit score!!
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