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Personal Loans Discuss personal loans, secured and unsecured, and general borrowing.

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  #1  
Old 12-23-2008, 07:41 PM
polo708 polo708 is offline
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Join Date: Dec 2008
Location: Arizona
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Default Advice on a personal loan

new here and looking for some help.

I want to take out a personal loan. Nothing too big, just $3500-$4000. Its for a car im restoring, nothing important but something that I am passionate about.

My question is... what is the best way to go about this? I can get a loan through my bank(USAA) at 11%. Is this a decent rate or can I find lower somewhere else?

What about opening a credit card and just charging it on there? I see a lot of them offering 0% APR for the first 12 months. What is the catch with this?

Any other suggestions? My credit is good so im not worried about that, just looking for the cheapest way to do this. Thanks in advance
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  #2  
Old 12-24-2008, 02:16 AM
MoneyTrev MoneyTrev is offline
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Location: Biriths Columbia, Canada
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Default Re: Advice on a personal loan

Peer to Peer loaning? You can check it out.
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  #3  
Old 01-02-2009, 07:53 PM
singlemom singlemom is offline
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Join Date: Jan 2009
Location: Colorado USA
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Default Re: Advice on a personal loan

polo708 you can find cheaper rates for sure just look around.

A credit card is a good way to go. The low APR is usually temporary and will carry a penalty if not paid off within a certain time. If you go the credit card route make sure to pay if off as soon as you can.

Also since it's not a lot of money you need maybe take a look at some friends or family for the financial help you need to complete the car.

good luck...
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  #4  
Old 01-18-2009, 08:39 AM
brian brian is offline
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Default Re: Advice on a personal loan

Just shop around, but do take a look at the terms, not least early repayment penalties - I personally think it's a good idea to avoid loans which penalise early repayment, because as a normal part of debt management it's a an option you may want and need to push on.
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  #5  
Old 05-21-2009, 03:17 PM
tradelines tradelines is offline
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Join Date: May 2009
Location: CA/USA
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Default Re: Advice on a personal loan

If your credit is good. A credit card would work. Personal loans are simplistic in a sense and may work for what you are doing. It really all depends on the FICO score to determine what is the best way to go.

We specialist in helping consumers increase their score to respectable levels, then provide options for loans that are best suited for your needs.

You are more than welcome to call us if you feel we can be of any assistance to you.

Quote:
Originally Posted by polo708 View Post
new here and looking for some help.

I want to take out a personal loan. Nothing too big, just $3500-$4000. Its for a car im restoring, nothing important but something that I am passionate about.

My question is... what is the best way to go about this? I can get a loan through my bank(USAA) at 11%. Is this a decent rate or can I find lower somewhere else?

What about opening a credit card and just charging it on there? I see a lot of them offering 0% APR for the first 12 months. What is the catch with this?

Any other suggestions? My credit is good so im not worried about that, just looking for the cheapest way to do this. Thanks in advance
Reply With Quote

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