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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!

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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.
Bal. 1  Bal. 2
9650	9900
9298	9500
8944	9100
8589	8700
8232	8300
7873	7900
7512	7500
7150	7100
6786	6700
6419	6300
6052	5900
5682	5500
5310	5150
4937	4798
4561	4442
4184	4082
3805	3720
3424	3354
3041	2985
2656	2612
2269	2236
1881	1856
1490	1473
1098	1087
703	697
307	303
-92	-94

Good stuff, thanks! Now say I roll the balance of the 0% back into another 0%/3% deal?

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.

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.

Citi has 18 month 0% offers with 3% fee. Why don't you just go for those?

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?

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.

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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