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Posted in Auto Loans
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scrambone

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re-finance auto or take out a small personal loan to pay off
I live on a fixed income. I have a car loan with 18 months left to pay at 265.00 per month. The int. rate is 29.9. Should I re-finance with less than 3k to pay? Or should I consider a small personal loan to payoff vehicle? OR should I keep plodding along like I am? I Could use the extra cash per month.

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refinance car loan

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PLEASE  refinance your loan!!!!!!   Even if you got a 20 percent loan, which is a lot, you would save a bunch.  My favorite thing to do is to apply for an interest free credit card, usually good for about 15 months, and pay NO interest. Make sure the card accepts balance tranfers.   With the amount of interest you are saving, you could pay extra on your loan and probably be done paying for it in 15 months.   If not, toward the end of the "no interest" time period, apply for another interest free card.  This will also give you more available credit that, if you are smart, you won't touch.  

Reply by
snowwman

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good idea.thank you.

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