Quote:
Originally Posted by Rathji
If you can get car financing for 0%-2%, then it would make sense to put that money onto a mortgage instead of a car, because there is almost no chance your mortgage rate is less than that. For example, borrow at 2% to avoid paying at 3-4%.
Maybe I am just being an idiot here, and people are able to get mortgages for a lot less than I am aware of.
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My mortgage is at 2.1%. I'm at prime -.9% on a variable rate. I have never heard of anyone getting a mortgage for <2%.
As for the buying new vs. used thing, I think the only time a person should go new is on a lease that can be written off for work. The depreciation on anything more than an entry level car, really is not worth it.