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Should I Accept a Relative’s Offer to Pay Off My Car Loan with 0% Interest but Higher Monthly Payments?
Should I Accept a Relative's Offer to Pay Off My Car Loan with 0% Interest but Higher Monthly Payments? I recently purchased a car for $25k on finance. Since I have new credit with little history, they approved me but with a 21% APR for 62 months, resulting in a monthly payment of around $600. However, I have a relative who is willing to lend me the full $25k so I can pay off the loan. In return, I would need to pay him $1500 a month with no inter...
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