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Ploc @14.65 v/s 12.5 at LightStream?

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Ploc @14.65 v/s 12.5 at LightStream?

is having a 14.65%APR personal line of credit better than having a loan from the likes of Americo/lendingclub/LightStream etc at 12.5% for 36 mos or longer with or without the origination fees.

I have an AMERICO offer and LightStream offer and interested in moving $9400 from PLOC into one of these loan offers.

 

Should I or should i not?

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1 REPLY 1
Contributor

Re: Ploc @14.65 v/s 12.5 at LightStream?

the loan is better in the sense that you are going to save interest with the lower interest rate for a fixed amount, with fixed term and a strict minimum payment specific to payoff in that term. however, if there is any kind of fee that will probably negate the interest savings.


the line of credit is different in that there is no fixed term and minimum monthly payment of ~2%, meaning your payment could be variable if you needed. lastly, you have the ability to withdraw again as you pay down the ploc.

 

 %nperpvpmtcumipmt
loan12.5369400−314−1921
ploc fixed term14.65369400−324−2273
ploc 2%14.65789400−188−5154
Message 2 of 2
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