$1,100 savings for 24 months - Saab General Bulletin Board - Saabnet.com
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$25k for 24 months, the length of your credit card offer, has a finance charge of about $500 at 1.9% if paid in a steadily deciining balance payment of $1,062 a month. At 6% the finance charge is almost $1,600 and the payment jumpts to $1,108. $1,108 minus $1,062 times 24 months is $1,100 ish savings.
The tax savings on a deductible home equity line won't come anywhere near the interest savings. Writing off a $1,600 finance charge vs paying a $500 finance charge without a write off, no brainer.
Posts in this Thread:
- Post for Finance/Number Smarties 1.9% vs 6%, Scott Paterson , Wed, 13 Jul 2005 11:09:19
- $1,100 savings for 24 months, Mike Lynch , Fri, 15 Jul 2005 13:36:21 <-- Viewing This Message
- Chasing the free money, OKSaabs, Wed, 13 Jul 2005 14:51:23
- Need to make sure the 1.9% rate is really the ...., TKC, Wed, 13 Jul 2005 12:22:07
- Re: Just a thought, AeroDave, Wed, 13 Jul 2005 11:55:59
- Re: Post for Finance/Number Smarties 1.9% vs 6%, OKSaabs, Wed, 13 Jul 2005 11:50:32
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