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There you go thinking logically!
Posted by phred (more from phred) on Fri, 8 Aug 2003 09:48:49
In Reply to: If they offer low, low rates for 7 years..., FrozenSaab, Fri, 8 Aug 2003 09:45:17
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As they point out, people are going to 7 years because it's the only way to afford the monthlies. So there is no other money to invest somewhere, they are tapped just making the payment. Besides, "good" savings investments at the moment aren't rising much above 2 or 3 percent, so no one is going to get rich off this.
It's odd that they didn't mention in the article that this explains the incredible interest in leasing - you can drive a car you can't afford! At least in my case :). Probably a better option than a 7 year loan.
posted by 216.205.22...
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