ByteOnBikes@slrpnk.net to Fuck Cars@lemmy.worldEnglish · 29 days agoAs a bike rider, I forget this is a thing. Asked my neighbor, he pays $350/month in insurance alone 🙃slrpnk.netimagemessage-square218fedilinkarrow-up1657arrow-down143
arrow-up1614arrow-down1imageAs a bike rider, I forget this is a thing. Asked my neighbor, he pays $350/month in insurance alone 🙃slrpnk.netByteOnBikes@slrpnk.net to Fuck Cars@lemmy.worldEnglish · 29 days agomessage-square218fedilink
minus-squareexplodiclelinkfedilinkEnglisharrow-up1·28 days agoI’m doing the same thing, but I still don’t understand it. Why are creditors offering 3.54% car loans instead of just getting 8% themselves?
minus-squaresunzu2@thebrainbin.orglinkfedilinkarrow-up3arrow-down1·28 days agoThat loan was likely originated during a different intertest environment. So that commeneter is playing arbitrage
minus-squareJayleneSlide@lemmy.worldlinkfedilinkEnglisharrow-up2·28 days agoThis is exactly the case. Also, I worked for a credit union at the time, and employees got a 1% discount on interest rates for loans over a 24 months.
minus-squareexplodiclelinkfedilinkEnglisharrow-up1·28 days agoI can’t speak for the other guy, but these high interest investments were available when I took out my car loan too. That’s why I opted for the longer term loan.
I’m doing the same thing, but I still don’t understand it. Why are creditors offering 3.54% car loans instead of just getting 8% themselves?
That loan was likely originated during a different intertest environment. So that commeneter is playing arbitrage
This is exactly the case. Also, I worked for a credit union at the time, and employees got a 1% discount on interest rates for loans over a 24 months.
I can’t speak for the other guy, but these high interest investments were available when I took out my car loan too. That’s why I opted for the longer term loan.