A J asks:
I am contemplating purchasing a used boat which is over 15 years old. I am looking at the best way to finance this purchase and need some input. The only loan I have is a student loan for $ 4K and the only credit card I have has a balance of $ 11K with 0% interest for the next 6 months, and then a 8% rate after that. I have a few other credit cards which send me access checks with 0% fee and interest for one year that I could use to finance the boat. I would use $ 11K in an access check to finance the boat at 0% interest on a second credit card which would increase my credit card debt to $ 22K with 0 interest for awhile and then 8% on both eventually. However, I believe I can pay off these cards before any interest kicks in. The second option is to get a boat or personal loan for the $ 11K and pay about 10% interest. I would intend to pay the loan as quickly as possible as well. My question is, should I finance the boat using $ 11K of credit card at 0% interest or get a bank loan?

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