How to wipe out my car loan debt ASAP?!?
I have a car loan out that is now at 82, unfortunately I have a high interest rate of 15%. My plan was to have it paid off in 2012 but, I would like to try for the end of this year or the middle of next year (I know that seems really hard but it really is a burden). I’ve tried selling the car but didn’t get many calls even though I set the price lower than KBB value….my question is does anyone know what I could possibly do to pay the loan off as soon as possible. I can’t refinance for another year because I don’t have much of a credit history…so that really doesn’t help.
My plan is to try to make higher my payments….and maybe if I get the loan low enough I could do a balance transfer of the remaining loan to a 0% APR credit card for as many months possible (..if anyone knows where I can find a 0% APR credit card for at least 8 months please let me know). If anyone has any other suggestion PLEASE let me know!
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Comment from Rusty
Time May 16, 2010 at 4:33 am
Before you make that decision check with any of the credit cards offering 0% for a certain amount of time. I am pretty sure that is only for paying off another charge card, I don’t think you could charge the rest of your auto debt with the new card.