Loan interest rate.....

[wjmiller3]

Just recieved a letter from Wachovia, who is the holder of my flight training loan. My interest rate went down from 5% to 3.2%. Went online to check and sure nuf, 3.2%. HELL YEAH, had to share some good news!!!!

 

[Douglas]

That is great!

I just got my car insurance in the mail, it went down $70.

Crazy times.

 

[ILS37R]

I got audited by a state I haven't lived in for several years, so I pulled out my old W-2s and now they owe me money.

 

[matt152]

2.75% here. Thank god for the recession. :whatever:

 

[dr650]

anyway or any companies offering locked in rates?

 

[Matt13C]

Lucky! Mine went the opposite route, used my credit card for some flight training, the interest rate WAS really low. I just received a letter in the mail saying the interest rate was going to more than double to 15%. I still have never been late on any payment, for anything, and yet BOA decided to screw me. My parents got the same notice and they have perfect credit and carry almost no debt on the card.

Luckily if I dont use the card ever again, I can pay off the debt at the current rate, but that policy could change. I want to get the money off there asap. If anyone knows a good company that offers low interest fixed rate loans, post it up please!

 

[wjmiller3]

I may be wrong, but I dont think you will ever see a fixed rate, non-secured loan. At least from the traditional lenders anyway.

 

[Matt13C]

I may be wrong, but I dont think you will ever see a fixed rate, non-secured loan. At least from the traditional lenders anyway.

I think BOA was offering them for AOPA flight training loans, but they were quite high, around 12% last I checked.

 

[killbilly]

I may be wrong, but I dont think you will ever see a fixed rate, non-secured loan. At least from the traditional lenders anyway.

Actually, I have exactly that from my credit union in Dallas, but I had good credit and wasn't borrowing a great deal of money.

Folks - if some of you are reading this thread thinking now is a great time to buy the money for flight training - beware. Rates WILL go back up, and the 2.X% rate you get today, tomorrow and maybe for the next 5-7 years can be pretty damn daunting later on when it resets to a higher rate. Witness the ARM catastrophes. Don't be that guy.

 

[wjmiller3]

Actually, I have exactly that from my credit union in Dallas, but I had good credit and wasn't borrowing a great deal of money.

Folks - if some of you are reading this thread thinking now is a great time to buy the money for flight training - beware. Rates WILL go back up, and the 2.X% rate you get today, tomorrow and maybe for the next 5-7 years can be pretty damn daunting later on when it resets to a higher rate. Witness the ARM catastrophes. Don't be that guy.

I think that is key. I dont think you would be able to get $60,000 unsecured fixed rate at todays rates.

And yes they will go back up, I am trying to put as much as I can on my loan now since more is going to principal.

 

[IslandFlyer]

I just saved 15% on car insurance by switching to Geico!




























(sorry I had to)

 

[matt152]

Folks - if some of you are reading this thread thinking now is a great time to buy the money for flight training - beware. Rates WILL go back up, and the 2.X% rate you get today, tomorrow and maybe for the next 5-7 years can be pretty damn daunting later on when it resets to a higher rate. Witness the ARM catastrophes. Don't be that guy.

:yeahthat:
Even if you have a loan that is variable at prime, it will go up eventually. But I would be very surprised if we saw a rate increase in the next two years.