Interest rates
What kind of interest rates did you get? Did you get your own or did you use the dealers? thanks
Forum Discussion
Shop around, banks and credit unions are giving good rates on short term loans now if you have good credit. Often you get an extra 0.5% lower rate if the loan is paid automatically from your checking account.
In the past the only thing we bought on credit was our house. Since the 2008 crash, interest rates on loans are "upside down". In 2010 when we got our trailer I was ready to pay cash, but I could get a 3 year loan at 1.5% and was getting 3.5% tax free return on my investments, so better to borrow, came out ahead.
Recently bought a new 2500HD truck, same thing ready to pay cash, but could get a 3 year loan at 1.75% against my current 4% tax free investment returns.
Makes no sense, now. Those with good credit and don't need to borrow can come out ahead borrowing instead of paying cash.
In the past the only thing we bought on credit was our house. Since the 2008 crash, interest rates on loans are "upside down". In 2010 when we got our trailer I was ready to pay cash, but I could get a 3 year loan at 1.5% and was getting 3.5% tax free return on my investments, so better to borrow, came out ahead.
Recently bought a new 2500HD truck, same thing ready to pay cash, but could get a 3 year loan at 1.75% against my current 4% tax free investment returns.
Makes no sense, now. Those with good credit and don't need to borrow can come out ahead borrowing instead of paying cash.
