Interest rates
What kind of interest rates did you get? Did you get your own or did you use the dealers? thanks
Forum Discussion
danimal53 wrote:
nothing wrong with a 10+ year loan when you can pay extra/early without penalty. your minimum payment is obviously going to be lower, which would help if there were a job loss, unexpected expense, etc. can always pay more to reduce that 10 years (and total interest)
money is very cheap right now, and saying "don't ever finance" isn't always the best/wisest decision for everyone
There in lies the "problem".. There is no such thing as "cheap money", it costs you SOMETHING whether it is interest or your TIME and typically it is BOTH.
You go to "work" and put YOUR TIME into a 8hr, 10hr, 16hr work day, the company doesn't pay you to sit around.. No they expect you to work.
Nobody has ever gotten rich by borrowing money, sure you can get a loan to start a business but keep in mind better than 90% of all upstart businesses which borrow money to start up WILL fail within the first year..
The MOST "successful" businesses tend to not borrow money to startup and they are the ones that often turn out to make it past the first year of operation..
Spending your hard earned money WISELY is the best way, that means not borrrowing more than what you can pay off in a reasonable time at an interest rate which is as low as possible..
You and anyone else are more than welcome to hand a banker lots o money.. After all the bank Presidents deserve their multi-million mansions plus retreats homes plus expensive sports cars..
