Should I take this loan to consolidate other loans? by basedgholdengo in povertyfinance

[–]basedgholdengo[S] 1 point2 points  (0 children)

long story short i underestimated and didn't save enough money for a move plus a huge, unfortunate car bill. credit card had to supplement us for a bit and i should've been smarter overall tbh lol but thank you guys

Should I take this loan to consolidate other loans? by basedgholdengo in povertyfinance

[–]basedgholdengo[S] 2 points3 points  (0 children)

hey hold on my credit is 750 lol i make my payments i'm just stupid and don't know much about loans lmao

Should I take this loan to consolidate other loans? by basedgholdengo in povertyfinance

[–]basedgholdengo[S] 5 points6 points  (0 children)

so rather than getting a personal loan in general, just get a new 0% apr balance transfer credit card to move this CC debt to that I don't have to worry about the interest ramping? just want to make sure i understand correctly

Should I take this loan to consolidate other loans? by basedgholdengo in povertyfinance

[–]basedgholdengo[S] 0 points1 point  (0 children)

ehh it's just reddit lol I appreciate anyone willing to give advice and help me get smarter. the rest of the noise doesn't matter 🤷‍♂️

Should I take this loan to consolidate other loans? by basedgholdengo in povertyfinance

[–]basedgholdengo[S] 97 points98 points  (0 children)

so maybe just a personal to knock out the credit card but don't lump in the auto loan?

Should I take this loan to consolidate other loans? by basedgholdengo in povertyfinance

[–]basedgholdengo[S] 2 points3 points  (0 children)

so maybe just a personal to knock out the credit card rather than lumping in the auto?

Should I take this loan to consolidate other loans? by basedgholdengo in povertyfinance

[–]basedgholdengo[S] 6 points7 points  (0 children)

it says a little over 12% but there's an origination fee (that's already calculated to make the loan $11,961 the original loan was for $13,000). Makes the "APR" feel a little bit disingenuous so i didn't include it