It's mine.......all mine!!!

[JOS3]

yeah, im paying through the ass over the 4 years, but then again - its only 4 years

 

[mountjonas]

but if you don't pay your credit card, they can take your car, right?

 

[vindication]

I've had 0% intrest right when I bought the car. Main reason why I bought it. Now only $1500 more to pay and it is totally mine

 

[mcstark]

but if you don't pay your credit card, they can take your car, right?

Nope...effectively there's no lien on the title anymore. Now it's just revolving credit, rather than a loan that needs to be paid off. Think about it...if you didn't pay your CC bill does that mean they can take all the stuff you bought with it? Nope.

Although, I agree that overall transferring debt to a CC isn't a smart move in the long run, because paying off a loan looks better on your credit report.

 

[protegeV]

aounsa good(thumb)

 

[loccusst]

As long as the car loan was for at least one year his credit report will be good. I hope you checked the fine print on the providian card. If you did then smart move. Also a high credit card bill can hurt you when you get a loan. The still look at that, its just not as bad as if you had a loan out. Its all about you ratio of debt to income. I too got a low interest through Mazda, so not entirely worried about paying it off other than just having car payments.

 

[pingdum]

Nope...effectively there's no lien on the title anymore. Now it's just revolving credit, rather than a loan that needs to be paid off. Think about it...if you didn't pay your CC bill does that mean they can take all the stuff you bought with it? Nope.

Except on sitcoms.

Although, I agree that overall transferring debt to a CC isn't a smart move in the long run, because paying off a loan looks better on your credit report.

I get the same benifits of paying off my car loan, which I did.

 

[mountjonas]

Nope...effectively there's no lien on the title anymore. Now it's just revolving credit, rather than a loan that needs to be paid off. Think about it...if you didn't pay your CC bill does that mean they can take all the stuff you bought with it? Nope.

if that's the case, what's stopping me from running up my credit and not paying a cent. if you don't pay your credit card bill the credit card co. should be able to take your stuff.

 

[Dimitrios]

Repo man shall cometh and taketh all away.

Credit cards aren't a solution; I hate when people think they're better off when they use them.

 

[maitai92]

I got 0% financing too for $185/ month. and will be paid off in less than a year.

 

[kgo]

somehow i didn't qualify for the 0% financing, but i think it was cuz i took the cash rebate instead. maybe i should have shopped around for a rate...either way, my monthly payment is like $200/month for another year and a half.