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Well, the rate on an auto or home loan is fixed by the contract, silly!
Or else it is specifically bound by the contract to whatever increases that are in the contract. Just like the rate on your credit card is variable according to the contract you signed when you applied. You DID read what you agreed to, didn't you? If you didn't agree with it, why did you sign the application? BTW, in fact I do not have ANY debt outstanding. It's fun to tell that to people calling offering re-financing. I'm not rich (except in name)... just frugal. And frankly, I don't care whether I impress you. Frankly, you don't impress me, much. Rich RS wrote: What would you do if they hiked the APR on your auto or home loan just because they felt like it, even if you had a perfect payment history? Well, that's what the credit card companys are doing now - they are changing the rules mid-stream. Credit is credit - regardless what it is for. You guys on your high moral horses about paying credit cards off every month do not impress me (unless you have zero credit - no home, auto, commercial loans at all). |
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