Lee Duna@lemmy.nz to News@lemmy.worldEnglish · 8 months agoAn Auto Loan Debt Crisis Looks Imminentwww.automoblog.netexternal-linkmessage-square165fedilinkarrow-up1286
arrow-up1286external-linkAn Auto Loan Debt Crisis Looks Imminentwww.automoblog.netLee Duna@lemmy.nz to News@lemmy.worldEnglish · 8 months agomessage-square165fedilink
minus-squareAux@lemmy.worldlinkfedilinkarrow-up1·8 months 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-squareryathal@sh.itjust.workslinkfedilinkarrow-up1·8 months 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-up1·8 months 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.