Poll of the Day > debating if I wanna skip my car payment of Dec

(+) Yeah! (+)

They sent me an email saying I could. would just extend my payments a month and the next payment would go up 20 dollars.

No reason I really need to. But that extra few hundred would be nice to buy me a nice Christmas gift.
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Have you calculated it out to work out how much it costs you over the life of the loan? Most businesses dont willingly offer to extend credit terms out of goodwill without something in return.

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gloBal enemy posted...

Have you calculated it out to work out how much it costs you over the life of the loan? Most businesses dont willingly offer to extend credit terms out of goodwill without something in return.

The only this is literally just the 20 dollars added to the loan payment of January
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You should just pay it

20 dollars is actually a huge percentage
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JOExHIGASHI posted...

You should just pay it

20 dollars is actually a huge percentage

Doesn't that depend on how much the car payment is. An extra $20 is 20% of $100, but only 5% on $400.
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LinkPizza posted...

JOExHIGASHI posted...

You should just pay it

20 dollars is actually a huge percentage

Doesn't that depend on how much the car payment is. An extra $20 is 20% of $100, but only 5% on $400.

5% in a month is a lot
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JOExHIGASHI posted...

LinkPizza posted...

JOExHIGASHI posted...

You should just pay it

20 dollars is actually a huge percentage

Doesn't that depend on how much the car payment is. An extra $20 is 20% of $100, but only 5% on $400.

5% in a month is a lot

Twenty dollars for one month is not that bad.
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JOExHIGASHI posted...

LinkPizza posted...

JOExHIGASHI posted...

You should just pay it

20 dollars is actually a huge percentage

Doesn't that depend on how much the car payment is. An extra $20 is 20% of $100, but only 5% on $400.

5% in a month is a lot

But its just 1 month, though... And only $20. Which wouldnt even be able to fill most cars gas tank from empty to full... And the 5% a in a month is high of the full price is. For example, 5% of $50 is $2.50...
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I still recommend paying it regularly
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JOExHIGASHI posted...

I still recommend paying it regularly

if a few hundred dollars makes or breaks whether you can make a purchase, that's evidence in itself that you should have a larger savings buffer, and probably shouldn't spend it on gifts
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Clench281 posted...

if a few hundred dollars makes or breaks whether you can make a purchase, that's evidence in itself that you should have a larger savings buffer, and probably shouldn't spend it on gifts

Maybe he has good savings but doesn't spend it? I don't see how you can really make that connection with the info given
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Muscles posted...

Clench281 posted...

if a few hundred dollars makes or breaks whether you can make a purchase, that's evidence in itself that you should have a larger savings buffer, and probably shouldn't spend it on gifts

Maybe he has good savings but doesn't spend it? I don't see how you can really make that connection with the info given

True. I know some people who are financially secure. But might take this chance because it gives them play money, as they like to call it...
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I guess the question is opportunity cost - given it's only one month extra, wouldn't you be equally well served by say a credit card which has one month interest free (until statement comes out)?

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