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Car Payment vs. Savings

Discussion in 'Money & Finance Forum' started by Savio, Oct 16, 2007.

  1. VA49er

    VA49er Full Access Member

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    I can't remember which card it was. There was a catch, however. Something along the lines of a rather large annual or up front fee.
     
  2. meatpile

    meatpile 7-9

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    I would imagine that the catch would be the mortgage company - merchant fees are LARGE.

    I would do that in a MINUTE. Not only do you get the points, you get an extra 30 days ( at least ) to earn interest on your mortgage payment. Might even be able to get 60, depending on what day your mortgage is paid and what day the card cycle starts. If you set it up to hit it on the first day of your card cycle, you may get 2 months of interest.

    If anybody finds anything else out about this, please let me know.
     
  3. VA49er

    VA49er Full Access Member

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    AMEX does it, but there is a HUGE catch. You have to have your mortgage with a specific mortgage lender and pay an upfront $395 fee.

    American Express Wants Your Mortgage Payment
     
  4. meatpile

    meatpile 7-9

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    I figured.

    I actually refused to do a credit card deal just a few days ago. I told them i'd do it, but there would be a 3% charge. 3% is what the banks charge to give me the money.

    I told them to give me a PO and I'd give 70 day terms, and they agreed. This actually happened twice this week. I loathe credit cards. I'll usually take them but not on large deals.

    I don't see how anyone can do this and have it actually benefit the consumer - the mortgage holder would have to charge a higher rate.
     
  5. wossa

    wossa Not a ********* any more

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    credit cards are the devil.

    I work at a traditional manufacturer. The type where customers place purcahse orders, we make and ship them a product. The kind of orders that have always been on terms, paid by check. The way we buy and pay for all our materials and services.

    But now everyone wants to pay with a credit card. And not pay at the time of order but take 60 days THEN pay with a CC. So not only do we finance them for 60 days then we end up taking a 2.5% hit on the merchant fee.

    Hell when I started here our largest customer was paying with a CC. And our merchant fee was almost 5%. They would pay a $135,00 invoice with a CC. Do the math - thats a $6750 hit for merchant fees. Multiply that times 20 and see how much it was costing the company in a year. I nixed that deal - got them to start paying by ach and saved the fees.

    CC payments for point of sale transactions are one thing - but accepting one on terms is ridiculous.

    Kind of off point but I had to rant.
     
  6. slydevl

    slydevl Asshole for the People!

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    Just checked. All of my cards limit who they can make payments to.

    I can do Time Warner, my car insurance, and Suncom so far.

    A little is better than nothing. I'd like to get those couple thousand points a month for my mortgage though.
     
  7. Guest

    Guest Full Access Member

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    Done deal

    ended up getting 1800 under MSRP/no money down/6%

    toyota has shit for incentives...but it's really the only vehicle I wanted. I'll end up making money off the mileage, but the payment and insurance is a wash with the car allowance.

    [​IMG]
     
  8. aaronbert03

    aaronbert03 Junior Member

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    Can anyone tell me how beneficial are bad credit car loans and how it affects our future cash pays?
     
  9. bradpitt7703

    bradpitt7703 Junior Member

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    There are some cases of bad credit card loans which comes for disputes. With the effective law and order system the culprit can be easily found and punished.


    ________________________________________________________________________________
    DUI lawyer
     
  10. liamryderd

    liamryderd Junior Member

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    bad credit car loans didn't refers as its name, but its a loan which can be a life saver for individuals with poor credit. The interest rate and the fess will be high because the credit holder posses a credit risk for the lender.Depending on the extent of the individual's credit, the ease of obtaining this type of loan can be somewhat limited. automotive Lawyers have more chances here.
     

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