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Posted on 6/30/19 at 3:59 pm to Volvagia
I love these threads.
Posted on 6/30/19 at 4:00 pm to Strannix
I put this on Facebook in regards to my wife
Posted on 6/30/19 at 4:12 pm to Strannix
Betcha wished you had this one back.
Posted on 6/30/19 at 4:15 pm to Strannix
quote:
, if you have to finance anything other than a house or main vehicle you cant afford it.
This is a poor line of thinking
Posted on 6/30/19 at 4:16 pm to Strannix
The best are the ones that ask "what's the note"? The dumb asses with a 350 credit score think they can just take up the note that's in someone else's name instead of getting their own financing.
Posted on 6/30/19 at 4:17 pm to Janky
Best part is when you spell out at exactly how profound of a difference it makes over time via mathematics and compound interest, they don’t even argue the merit they just say “well everyone has different perspectives” as if the conversation didn’t start with them looking down their nose at anyone who didn’t do it their empirically inferior way.
Even ignoring the financing duration, the same crowd acts like hoarding such a sum over years in CASH is itself a smart move so opposed to investing it and liquidating at the purchase. It isn’t the 70s folks. Interest isn’t sky high so that you need to have massive piles lying around so you never use credit.
Even ignoring the financing duration, the same crowd acts like hoarding such a sum over years in CASH is itself a smart move so opposed to investing it and liquidating at the purchase. It isn’t the 70s folks. Interest isn’t sky high so that you need to have massive piles lying around so you never use credit.
This post was edited on 6/30/19 at 4:18 pm
Posted on 6/30/19 at 4:25 pm to Chuker
quote:
Most APR I see are in the 3-5% for vehicles even with great credit. Are you saying you know of a better place to park 8-20k that makes more than 3% guaranteed?
Granted, I bought a few years ago, but my rate was/is just over 2% for a (fairly new) used car through Chase.
Posted on 6/30/19 at 4:32 pm to Volvagia
quote:
blue chip mutual fund.
The stock market?
Why would the bank loan me 15k at 3% if they could instead invest that 15k in these wonderful bluechips themselves?
Posted on 6/30/19 at 4:41 pm to Chuker
They do you idiot, especially the major ones.
Why they offer it at all:
1)Risk diversification
2)That mortgage, or more specifically the monthly note, can be counted and reported as an asset of the bank. The bank can present this asset to regulatory communities to show that they are meeting legal liquidity requirements.
They prefer to be making something rather than nothing.
I’m not saying you should be all in on the market.
I’m saying you should layer your assets exactly like they do.
And only using the market for retirement isn’t doing that.
Why they offer it at all:
1)Risk diversification
2)That mortgage, or more specifically the monthly note, can be counted and reported as an asset of the bank. The bank can present this asset to regulatory communities to show that they are meeting legal liquidity requirements.
They prefer to be making something rather than nothing.
I’m not saying you should be all in on the market.
I’m saying you should layer your assets exactly like they do.
And only using the market for retirement isn’t doing that.
This post was edited on 6/30/19 at 4:46 pm
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