Lee Duna@lemmy.nz to News@lemmy.worldEnglish · 1 year agoAn Auto Loan Debt Crisis Looks Imminentwww.automoblog.netexternal-linkmessage-square126fedilinkarrow-up1247arrow-down13
arrow-up1244arrow-down1external-linkAn Auto Loan Debt Crisis Looks Imminentwww.automoblog.netLee Duna@lemmy.nz to News@lemmy.worldEnglish · 1 year agomessage-square126fedilink
minus-squareAux@lemmy.worldlinkfedilinkarrow-up1arrow-down1·1 year agoNo, remortgage your property at super low interest rate below inflation and then buy with the cash you got. This way you’re saving crap loads of money.
minus-squareryathallinkfedilinkarrow-up1·1 year agoThat’s even worse. Now you have your house on the line for a depreciating asset. It’s the depreciation that makes financing cars such a bad deal.
minus-squareAux@lemmy.worldlinkfedilinkarrow-up1arrow-down1·1 year agoOnly if you want to sell your house in a few years. If not, it’s a money printing machine.
No, remortgage your property at super low interest rate below inflation and then buy with the cash you got. This way you’re saving crap loads of money.
That’s even worse. Now you have your house on the line for a depreciating asset. It’s the depreciation that makes financing cars such a bad deal.
Only if you want to sell your house in a few years. If not, it’s a money printing machine.