Refinance Advice
#1
Refinance Advice
Hey all,
I am a proud owner of a preowned 2007 650r. I am a first time rider and very excited about this new adventure.
I feel i got a really good deal on my bike. The question i have is this. I financed the bike and got a 21.99% APR. Which is nuts!!! I have excellent credit, but i was told used bikes get much higher rates. Anyways, i am looking to refinance this loan. I was thinking of paying it off with a 9% APR credit card. Does anyone have advice or experience with this kind of situation?
Thanks for any help!
I am a proud owner of a preowned 2007 650r. I am a first time rider and very excited about this new adventure.
I feel i got a really good deal on my bike. The question i have is this. I financed the bike and got a 21.99% APR. Which is nuts!!! I have excellent credit, but i was told used bikes get much higher rates. Anyways, i am looking to refinance this loan. I was thinking of paying it off with a 9% APR credit card. Does anyone have advice or experience with this kind of situation?
Thanks for any help!
#2
That's brutal.....and highway robbery. Go to a credit union, or borrow the money from a family member and offer to pay them 5% which is better than any money market right now. Or better yet, go get a brand new bike and pay 9%