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Posted on 4/16/15 at 7:52 pm to barry
Where can I get these low used car rates??
Posted on 4/16/15 at 10:50 pm to fatboydave
Yes, I am also interested in a 2% loan rate
Posted on 4/17/15 at 6:31 am to hungryone
quote:
hungryone
Looks like Dave Ramsey checked in to downvote you.
Posted on 4/17/15 at 6:41 am to matthew25
DCU
RFCU
PenFed
RFCU
PenFed
Posted on 4/17/15 at 8:32 am to Sigma
Penfed has the 2% rate for used cars for 36 months.
Posted on 4/17/15 at 9:05 am to makersmark1
right and in the 80's you paid 12-18% for a mortgage. I had no trouble finding a place to park our checking account that pays 3%
Posted on 4/17/15 at 9:09 am to Creamer
To each his own regarding the anti-debt thing. But this is a very good loan rate, OP is a person with significant future prospects and his spouse has a solid job. They have no other debts. If he lacked formal education, advance planning skills, or any level of sophistication about abstract thinking, then the complete debt avoidance strategy might be good for him. He's almost done with law school; assuming he passes the bar, he will shortly be in a position to interact with clients--to accept fees from them, to appropriately manage his trust accounts holding clients' funds, to negotiate settlements on behalf of others in divorce, child custody, and business proceedings....
One size fits all strategies are simplistic and naive. He's got the education and brainpower to learn to manage his finances in a way more sophisticated than wads of cash in envelopes. Sorry if some people don't, but not all of us with reasonable debt are buying useless crap. Some are building businesses, creating jobs, and seizing life's opportunities.
One size fits all strategies are simplistic and naive. He's got the education and brainpower to learn to manage his finances in a way more sophisticated than wads of cash in envelopes. Sorry if some people don't, but not all of us with reasonable debt are buying useless crap. Some are building businesses, creating jobs, and seizing life's opportunities.
Posted on 4/17/15 at 11:56 am to Creamer
you are looking at this all wrong. You have to look at the cost for you to borrow (2%) and the CAP rate for your rental properties. If your cap rate is higher (it should be a minimum of 10-12%) then you should finance as much of the car as possible and use that money to make more money for you.
Shoot me an email if you'd like to talk some more about the house investing djw70726@yahoo.com
Shoot me an email if you'd like to talk some more about the house investing djw70726@yahoo.com
Posted on 4/17/15 at 1:40 pm to bobaftt1212
So the spread should be 40x?
Posted on 4/17/15 at 9:38 pm to makersmark1
OP, will this vehicle be just a commuter vehicle or for business only? Ever thought of leasing and just pay the leased amount off (to the residual)? If leasing is out, if you finance the vehicle, make sure it is a simple interest loan, thus if you really just want to be done with a car payment, you can just pay off the car without penalty and avoid the interest the rest of the term
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