About to purchase- Finance questions
Hey all, I have a downpayment on a new travel trailer and just sold my pop up last night. Thursday I will go to sign papers. They were touting 4.99% finance rates until I got the deal. Then it ju...
Forum Discussion
wing_zealot wrote:
Financing $12K for 12 years you are never even going to get close to 5%. I think if you start checking rates online, in order to get anything close to 5% you would need to finance about $25K or more. You did well by getting 5.99% if you ask me.
Now it's time for the popcorn as you get all the "how stupid you are" from the pay cash folks.
I was told the longer the loan, the lower the rate and that the break even point was $12K to loan.
I just bought a car 2 months ago and used some of my free cash for that. I am not going to deplete my savings by buying cash. I am only 33 and rather have it in the bank.
