Never spend your own money - spend the bank's


100% , the person in the original post is borrowing for consumer discretionary , not productive assets or even a must have like a car
 
galway_blow_in said:
i borrowed 30 k in 2013 to buy a jeep , rate was 6.74% ( low no matter what sarenco thinks )
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If you want to borrow money to fund a car purchase that's obviously your choice but you are fooling yourself if you think a real interest rate of 6.5% is somehow cheap money - it isn't.
 
Sarenco said:
If you want to borrow money to fund a car purchase that's obviously your choice but you are fooling yourself if you think a real interest rate of 6.5% is somehow cheap money - it isn't.
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not to buy a house ! , to buy a car - vehicle , its low , my brother is a full time dairy farmer , he is thinking of buying some farm land close to where he lives at the moment , best interest rate he can get is 5.76% and thats secured , many loans out there are not at mortgage rate levels
 
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