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fw101
Silly Member
posted: Dec. 2, 2012 @ 8:32p
Yelf said: Let's use $10K as a starting point and the balance most likely won't be paid off in 12 months. Say a $400 monthly payment.
Any calculators out there to help working the #'s? Found a few showing interest/balance after each month. Thanks for any help! Depends on the interest rate after 12 mo. 0% promo. Assuming 400/mo constant payment, 11% seems about the breakeven. If the rate after 12 mo. promo is > 11, go with 5.99%, otherwise, go with 0% promo. Amortization table under both scenarios (using Excel) is below --- balance at end of each month. Scenario 1: 5.99% fixed APR Scenario 2: 3% upfront fee, 0% for 12 months, 11% after that. 10k borrowed and 400/mo payment in both cases.
Good stuff, thanks! Now say I roll the balance of the 0% back into another 0%/3% deal?
fw101
Silly Member
posted: Dec. 2, 2012 @ 9:46p
Yelf said: Good stuff, thanks! Now say I roll the balance of the 0% back into another 0%/3% deal? Payoff is in little over 2 years. So if the new 0%/3% deal is for 12 months, go with it --- 3 < 11.
rlaw
Broke Member
posted: Dec. 3, 2012 @ 2:22a
Yelf said: Good stuff, thanks! Now say I roll the balance of the 0% back into another 0%/3% deal?
The only drawback is whether or not
Such an offer will be available to you in the future.
hirenrp
Senior Member
posted: Dec. 3, 2012 @ 8:28a
Citi has 18 month 0% offers with 3% fee. Why don't you just go for those?
Yelf
Member
posted: Dec. 3, 2012 @ 8:30a
I'm on one now which is expiring in January. Thanks
hirenrp said: Citi has 18 month 0% offers with 3% fee. Why don't you just go for those?
SuperMxyz
Happy Member
posted: Dec. 4, 2012 @ 10:22a
Both sound like a pretty bad deals. Do you have any paid off cars to borrow against or anything? I think you can still get 2%-2.5% for 5 years.
jaytrader
Handsome Member
posted: Dec. 4, 2012 @ 5:27p
Join NFCU. Should be another $0/0% BT for 12 months deal approaching. Or grab a Chase Slate. $0/0% for 18 months.
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