Quote:
Originally Posted by evildick
I recently purchased a used car on my line of credit for about 28K. Was simpler than bothering with a car loan, and I can pay it off as fast as I want.
Not a good idea to just pay the minimum monthly. Haven't you seen those commercials with the dude from Starsky and Hutch?
"It'll take you 33 years to pay off that debt!"
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Actually, I am an idiot. I just remembered I transferred the money from my line of credit to my bank account, then sent them a bank draft.
So I guess that is not technically the same thing.