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re: Should I get GAP on an ‘07 4-Runner?
Posted on 4/13/19 at 4:40 pm to Fat Bastard
Posted on 4/13/19 at 4:40 pm to Fat Bastard
What if he got a good interest rate and he can invest that money at a higher rate? In that case he wouldn’t have “bigger issues” but would be quite smart.
I don’t understand why long term, low interest rate loans are so looked down upon, whether it be a car, or anything else.
I don’t understand why long term, low interest rate loans are so looked down upon, whether it be a car, or anything else.
1
Posted on 4/14/19 at 10:25 pm to lsumatt
quote:
What if he got a good interest rate and he can invest that money at a higher rate? In that case he wouldn’t have “bigger issues” but would be quite smart.
I don’t understand why long term, low interest rate loans are so looked down upon, whether it be a car, or anything else.
Because you are not going to get anything resembling low interest on a 07 vehicle, in fact it is likely over 12%.
OP would likely be much better off taking a personal loan but this reads like that is not a viable option.
I could be wrong but this is the impression I got from the limited info.
No to GAP insurance, OP you are already going to pay full coverage on a 12 year old vehicle for the length of the loan which is likely going to cost you more than the 4-runner.
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