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Author Topic: Is this normal when borrowing?  (Read 15479 times)

JammingJAY

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Re: Is this normal when borrowing?
« Reply #30 on: July 15, 2009, 01:23:33 pm »
The good news Banko is the rate you pay is tied to your FICO.

Folks will be subsidizing you in their orbital rates!

 ;D

Corvettes on the other hand just cost.

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onthefence

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Re: Is this normal when borrowing?
« Reply #31 on: July 15, 2009, 04:21:33 pm »
Quote from: bankomatic on July 15, 2009, 11:52:36 am
Well, if I had crystal ball and I knew I was going to get into an accident I would certainly buy the insurance,

Really?  I would have just avoided the accident.

Quote from: bankomatic on July 15, 2009, 11:52:36 am
Also, I can afford to total the car and buy a new one which is why I don't want to pay someone premiums to take on that risk because I can afford the risk on my own.

Well, if you don't want a loan secured by your auto because of the extra insurance, would it be possible for bankomatic to get a loan secured by his bonds and/or stocks?
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cowdiddly

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Re: Is this normal when borrowing?
« Reply #32 on: July 15, 2009, 05:06:01 pm »
Arvest bank (owned buy the Waltons of Walmart fame is loaning personal loans for 5.25%0. I'm tempted to take one as I know for a fact I can beat the return but I just don't need another payment in my life right now. WHY WOULD YOU BORROW FROM PROSPER RIGHT NOW? And NO I DON"T TRUST THEIR NEW SCOREX ANY MORE THAN THEIR FIRST VERSION. Just one look at the 7.04 returns advertisement makes me want to call the SEC for falsely advertising rates of return, after all  these are securities now, and should have to follow the SEC rules for securiies :ninja:
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ferengi31337

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Re: Is this normal when borrowing?
« Reply #33 on: July 15, 2009, 05:40:24 pm »
LOL, 4% for a car loan.  I wonder why my stock broker's margin rate is 8%.  You'd think collateral with wheels would be riskier....
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onthefence

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Re: Is this normal when borrowing?
« Reply #34 on: July 15, 2009, 10:18:02 pm »
Quote from: ferengi31337 on July 15, 2009, 05:40:24 pm
LOL, 4% for a car loan.  I wonder why my stock broker's margin rate is 8%.  You'd think collateral with wheels would be riskier....

That's why the require comprehensive insurance & offer rates like that to people with excellent credit history.
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ferengi31337

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Re: Is this normal when borrowing?
« Reply #35 on: July 16, 2009, 07:59:08 am »
I don't get your response at all.  I have perfect credit, too.  If I offered you a choice of collateral between a liquid security held in your possession or a car which would be in my possession, which would you prefer?
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onthefence

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Re: Is this normal when borrowing?
« Reply #36 on: July 16, 2009, 02:15:24 pm »
Quote from: ferengi31337 on July 16, 2009, 07:59:08 am
I don't get your response at all.  I have perfect credit, too.  If I offered you a choice of collateral between a liquid security held in your possession or a car which would be in my possession, which would you prefer?

It depends on the liquid security.  Several companies have gone bankrupt or have been on the verge of bankruptcy.
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