Country Living
Country Living, Country Skills
Country People

KountryLife.com - A Country Living Resource and Community
Community
Message Board
Country Topics
Trading Post
Memory Lane
Country Skills
Country Cooking

Channels
Gardening
Livestock
The Kitchen
Machinery
Tools

Photographs
Photo Gallery
Vintage Photos
Special Collections

Fun
Country Humor
Country Sounds
Coloring Book
Interactive Story

Farm Tractors
Pictures
Tractor Parts
Tractor Manuals

Miscellaneous
Classic Trucks
Antique Tractors
Modern Tractors
Site Map
Links Page
Contact Us

  
Country Talk Discussion Board

Re: Re: Re: Re: Re: new car purchases


[ Expand ] [ View Follow Ups ] [ Post Followup ] [ Return to Forum ]

Posted by Burrhead on February 17, 2004 at 21:49:51 from (12.74.240.207):

In Reply to: Re: Re: Re: Re: new car purchases posted by big fred on February 17, 2004 at 21:04:58:

If he's talking about the same renewals as the banks around here use it's like this.

You borrow whatever $ for a loan. They loan you the money and you pay back with 59 low monthly and then a huge final.

If you can't pay at least 50% of original amount borrowed as the final ballon payment they roll the final payment amount over for another 5 more years.

When they roll it over for you another 5 years then you pay the normal interest rate at the time plus another closing cost, land surveys, title % insurances, deed work, and legal fees that run from 5% to 10% of the final amount.

It is a fixed rate loan during each term, however the rate will adjust to current trends at each renewal.

If you live long enough to pay mortgae payments for 100-125 years then your all set with a renewable mortgage plan.




Follow Ups:




Post A Followup

Name:
E-Mail:

Subject: Re: Re: Re: Re: Re: Re: new car purchases

Comments:

Optional Link URL:
Link Title:
Optional Image URL:

Email Notification: If you check this box, email will be sent to you whenever someone replies to this message. Your email address must be entered above to receive notification. This notification will be cancelled automatically after 2 weeks.



[Home] [Search]

Copyright © 1999-2013 KountryLife.com
All Rights Reserved
A Country Living Resource and Community