guitarplayer

Guy I work with told me at lunch today that he bought his BMW 3 series on one of those zero interest for 12 month balance transfers from a credit card company. After 12 months, he transferred that remaining balance to another credit card company. When that 12 month interest free term was over he paid off the balance. 2 years, a $36,000 loan with no interest! Why didn't I think of that? I get these offers in the mail all the time!

Any other neat creative financing offers that I am clueless about?

lexrex

Yes, it's doable, but you have to be careful with those balance transfer offers. Sometimes credit card companies will lower your credit limit after you make the transfer, hitting you with over-the-limit penalties and (worse) socking you with a 20%+ default interest rate. If you make any mistake with your payment, even with another card company, they'll put you in default status. And if you use the card for purchases, your entire payment goes to the interest-free balance, while the interest on purchases accrues.

mazeta

Take the BT money and put into a CD or interest bearing account instead.