Need some financing advice for mac

Discussion in 'Buying Tips and Advice' started by tkepongo, Nov 17, 2007.

  1. tkepongo macrumors regular


    Jul 31, 2007
    Oregon State University
    My vaio is really bad now and i need a new laptop asap. I have a choice of either using my parent's credit card and paying approx. 75 a month or taking a student loan. I only make approx. $300 a month so...what would you guys do if you were in my shoes?
  2. kylep6190 macrumors member

    Nov 4, 2007
    Look at how much interest each way will have and then calculate the final cost with interest added in and see whichever is cheaper.
  3. Maui macrumors 6502a


    May 18, 2007
    A student loan is almost certainly to be cheaper than credit debt, unless it isn't a real student loan. Does your school have a credit union? Go talk to them about a personal property (non-credit card) loan in your own name, so you can start building your own credit.
  4. jarenado macrumors regular


    Sep 4, 2007
    granted, you have to remember your parents are interest free, and if you have a tough month where you cant pay, they arent going to charge you fees, or try to repo your computer
  5. ab2650 macrumors 6502a

    Jun 21, 2007
    Very true ;) But it could put the OP in a bad position with his folks.

    One thing that wasn't mentioned is when using his parents credit card, if they will pay off the balance in full and he will just pay them back, interest free.

    If not, a loan will 9 times out of 10 have a better interest rate than a credit card. But 11 times out of 12 parents give the best rates of all. ;)

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