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The point I was trying to get at is....
Posted by LesH [Email] (more from LesH) on Wed, 22 Oct 2008 18:45:09
In Reply to: forget it..., LesH, Tue, 21 Oct 2008 17:45:41
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You take out a loan to buy a $5000 car. You pay high interest because the bank doesn't really want to make these kind of small mostly-unsecured loans. So really you are paying way more than $5000 for the car. Then what happens when you need the $300 DIC, the $1500 timing chain, the $1000 insurance payment, etc etc etc?
In today's financial market, are you going to be able to make enough income from your money to compensate for the interest you are paying the bank (re comment about "why not use the bank's money")?
Posts in this Thread:
- auto loan for a 15 year old car, rob 94 aero, Tue, 21 Oct 2008 07:21:58
- Re: auto loan for a 15 year old car, yaofeng, Tue, 21 Oct 2008 18:08:48
- forget it..., LesH, Tue, 21 Oct 2008 17:45:41
- The point I was trying to get at is...., LesH, Wed, 22 Oct 2008 18:45:09 <-- Viewing This Message
- Re: forget it..., TML
, Wed, 22 Oct 2008 17:27:05 - Re: forget it..., rob 94 aero, Wed, 22 Oct 2008 05:45:04
- Not everyone has 5K sitting on the bank, that doesn't, Wasabi, Wed, 22 Oct 2008 05:17:03
- Excellent point. I agree. n/m, Sebastian, Tue, 21 Oct 2008 19:45:16
- Re: auto loan for a 15 year old car, No Snaab, Tue, 21 Oct 2008 16:15:25
- Part of the problem is that it's not worth $5K, Noel, Tue, 21 Oct 2008 15:40:28
- Re: auto loan for a 15 year old car, Dan-O, Tue, 21 Oct 2008 13:43:48
- Credit Card Companies Checks!!!!, Wasabi, Tue, 21 Oct 2008 13:00:34
- Re: auto loan for a 15 year old car, Dale, Tue, 21 Oct 2008 12:51:47
- What about a personal loan?, Finch, Tue, 21 Oct 2008 07:41:35
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