Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Anyway, yesterday in the mail was a letter from the dealer/car company "offering to make our Christmas a little brighter" by allowing us to skip our December payment (tack it on the end of the loan) for a "mere" $25.00.
The letter stated that "tis the season to spread holiday cheer and join in the spirit of giving", and that skipping our Dec payment would allow us to "check something off our holiday to-do list and focus on the spirit of the season" *snort*
Just wondering - how many people wil take advantage of this and how big a money maker it will be for them?
Never got one personally, but I've heard about them mainly for home mortgages though. The kicker is like you said you have to pay for this "service", at the same time you get to pay another month of interest on your loan.
Never got one personally, but I've heard about them mainly for home mortgages though. The kicker is like you said you have to pay for this "service", at the same time you get to pay another month of interest on your loan.
Well, in our case, it wouldn't add any interest as the car is finanaced at 0%, but still......
Hmm, we have two mortgages (our current home and a rental house) - I wonder if offers will be in the mail from them as well?
I've never seen one from our mortgage lender, but have gotten them for years for various loans we've had. Most frequently from our Credit Union. We rarely, if ever take them up.
Years and years ago (15+) I got offers to skip my car payment in Dec but there was never a fee for the priveledge, the interest just got tacked on to the end of the loan. I think I took them up on the offer twice.
I have had 2 car loans over the years and had a mortgage for 8 years, and never had this offered to me. Since I always pay off my loans in less than the allotted time, I wouldn't take advantage of anything that extends the time (or that cost a fee or added interest), but I could see that many people who are struggling to pay their bills each month would benefit from something like that. Might let you get ahead just enough to pay your rent on time instead of late for the next year.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
