Buying expensive things like cars?

[rayray]

(03-27-2022, 09:41 AM)fenders53 Wrote:

(03-27-2022, 07:34 AM)rayray Wrote: there's certain things that are not bad to take out a loan--as long as the rates are reasonable

at times i've already used our home's equity line of credit--you'd be amazed how quickly the loan comes down

i'm not a big fan of car loans unless you can get that 0% financing--always keep in mind car loans the interest is paid first then principle--they get their money first.

i also don't like using my cash--i keep it for emergencies--not purchases

i'm going through something similar--not a car but a fence

i'll be taking out about 20k loan for a fence--yes a fence

the days of putting up my own fence are done--time and man power

I've never had a car loan that worked that way.

most car loans are front loaded--almost all interest in the beginning--look at the end of the term and it's all principle