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  • troy_mclure

    Well-Known Member
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    30   0   0
    Mar 13, 2010
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    Central
    Just did a refi on my gf's car loan. Saved about 3% and $30ish a month.
    If she wasn't so upside down on the loan it would have been cheaper to trade in on a new car with all the rebates and 0% interest.
     

    AustinBR

    Make your own luck
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    15   0   0
    Oct 22, 2012
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    Just did a refi on my gf's car loan. Saved about 3% and $30ish a month.
    If she wasn't so upside down on the loan it would have been cheaper to trade in on a new car with all the rebates and 0% interest.

    Yeah, that's the way to go. I saw that Chevy is doing a 0% loan for like 84 months right now...like what?!
     

    twinin

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    23   0   0
    May 5, 2017
    954
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    Houma
    They don't have to be above 4%, but most of the fixed rates are in the 3 to 5 percent range right now, so just thinking about savings.

    In my case, my old rates were around 6% and my new rate is at 4.28%. I also changed the term and will be paying the loans off much earlier than before.

    Best bet is to just go plug your info into the website I linked above and it'll show you how much you'll save with various options. You also have the option of fixed and variable, just keep in mind that variable is tied to Prime or LIBOR and will go back up whenever rates rise.

    Thanks for the tip. I will give it another month or so and use your link to see what they have. Some of mine are subsidized with 3% but some others are 5
     

    Markmmg

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    0   0   0
    Jun 12, 2010
    152
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    Dang, $20k. I am so glad I did not take out loans for college. I joined the Army National Guard for 6 years and they paid for my college education.
     

    jkingrph

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    0   0   0
    Jul 2, 2007
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    Great for you AutinBR -- I'm an old-timer and graduated before all the big student loans.....I joined the military to help offset the cost of undergrad degree......then the military paid 100% for my Master's Degree.....then they sent me to all over the world....including such awesome places as Iraq & Afghanistan. BTW, I only gave those places 1 star on Travelocity!

    When I graduate pharmacy school, I don't think they even had student loans. When I started at Northeast La State College in '63, I think tuition was twenty something dollars a semester, no matter how many hours you took, no lab fees, just had to pay for a parking permit which was nothing. I lived at home and commuted, worked part time after the first year and paid my way through the five years and came out debt free.

    Spent about 10 years in the USAF, got out and found a job in E Texas. My son went two years at jr college, then transfered to UT in Austin. I paid for all of that out of pocket. He was accepted at Law school in Miss, so I introduced him to student loans, taking out the maximum for the 3 years which was about $25,000, not a lot for 8 years of higher education.
     
    Last edited:

    Cheesy Lasagna

    Sooooo Cheesy!
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    54   0   0
    Aug 20, 2011
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    Kennah!
    Dang, $20k. I am so glad I did not take out loans for college. I joined the Army National Guard for 6 years and they paid for my college education.

    I went regular Army and did the same.
    Got scholarships for all my graduate work.
    That said, I fully respect those who educated themselves and took out loans.
    Don’t think either path is easier.
     

    AustinBR

    Make your own luck
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    Oct 22, 2012
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    Dang, $20k. I am so glad I did not take out loans for college. I joined the Army National Guard for 6 years and they paid for my college education.

    Yup, I didn't take any loans in undergrad, but it wouldn't have been easy to work full-time in grad-school and do well. A decent chunk of my MBA loans were from taking two international trips (as part of the program). I'd do it again in a heartbeat.
     

    Cheesy Lasagna

    Sooooo Cheesy!
    Staff member
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    54   0   0
    Aug 20, 2011
    1,848
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    Kennah!
    Yup, I didn't take any loans in undergrad, but it wouldn't have been easy to work full-time in grad-school and do well. A decent chunk of my MBA loans were from taking two international trips (as part of the program). I'd do it again in a heartbeat.

    Nicely done.
     

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