"Too_Many_Tools" wrote in message
...
On Feb 14, 3:54 pm, "RogerN" wrote:
"Spehro Pefhany" wrote in message

...





On Sun, 14 Feb 2010 14:34:48 -0600, the renowned "RogerN"
wrote:

"Gerry" wrote in message
...
On Feb 14, 12:25 pm, "RogerN" wrote:
My wife had an auto accident Friday and now needs something to drive
to
work. In short, I should get my income tax money this Friday, I'm
wanting
to get cash now and pay it off this Friday, it will save me $2000 over
being
forced to buy from a dealer for the auto we are wanting. I've found
several
auto's I like at dealers for the $7K-$8K range, I found some I like
better
from individuals for the $5K range (same model, newer, lower miles,
$2k
less). But either way I go about it, having the cash gives me leverage
at
the dealer or the option to buy from a private seller.

Are their credit card cash advances that actually give you cash? Or
how
about pre-approved financing? Will financing companies approve you for
a
set
amount based on book value?

RogerN
/
/My son got an advance on his tax refund from HR Block three years ago
/and man did he get f'd. He got only 60% of his refund and HRB took the
/rest. I'd wait if I were you

That's a heck of a rip-off. I was thinking about getting a cash advance
for
a 3% fee and then paying the card off before the high cash-advance rate
was
charged. Or I could balance transfer a portion and use the tax refund
money
to pay higher interest balances.

Will an ATM or bank give you a cash advance on a credit card? I don't
want
the 20+% interest rate but since I can pay it off in a week it wouldn't
matter.

RogerN

You will pay 20%-ish interest on the entire balance, not just the cash
advance, until ALL the balance is paid off. This is the kind of thing
that gets people into trouble.

If you have a margin brokerage account with some marginable securities
you can borrow against those at a very reasonable rate (as the loan is
fully secured).

Best regards,
Spehro Pefhany
--

I have a few cards with zero balance, I could get a cash advance, and pay
it
back to a zero balance in a weeks time if I can get the cash out
instantly.
I think I could make an offer and save enough money to pay the cash
advance
fee and then some. I can wait a week but it puts an inconvenience on those
helping us.

RogerN- Hide quoted text -

- Show quoted text -
/
/And what if your other car breaks down?

For now I have two spare vehicles, a 1988 Ford F150 and a 1992 Ford F350
7.3L Diesel. I have spare vehicles but they are more expensive and less
convienient to drive than the daily driver vehicles. Also, reliability is
why I had Prizms, in 13 years the Prizm with 205K miles only left us
stranded 1 time.

/Or an illiness takes you or your wife out?

My finances are set up to not require my wifes income, I'm paying
overpayments on everything trying to get everything paid off.

/Or the water heater goes out?
/
/TMT

I've pretty much always have enough money to replace a water heater. If
things get desperate I'll make minimum payment on items. I can also use
credit if I have to until I can sell some stuff. I put my Case 580 backhoe
on craigslist today.

I'm trying to get it so me and my wife both have reliable vehicles and have
a spare auto to use when one needs service. All this while also trying to
keep my finances where I can make ends meet without the wife's income. The
prizm has worked out well for me, I had 5 years of payments and 13 years of
transportation out of the 97. The 2001 got deer totaled last year after
only being paid off a couple of years but I replaced it with a 96 Honda
Civic, also reliable and no car payment.

To expedite my debt reduction I plan to try to sell my backhoe, the 1988
F150, and maybe the jon boat this year.

RogerN