• explodicle@local106.com
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      11 months ago

      In our case, we were able to get a better rate from investing than the rate we’re getting charged on the car loan. It was “cheaper” to take the loan than to pay up front! This economy is nuts.

      • soggy_kitty@sopuli.xyz
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        11 months ago

        That’s great if you can guarantee you beat the interest rate of the car. But as you’ve said the economy is nuts and anything can happen 🤣

    • ImFresh3x@sh.itjust.works
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      11 months ago

      When borrowing rates are lower than investment returns borrowing just makes good financial sense.

      I could pay off my home loan today, but at 2.5% interest why, when I can keep that money and leave it in a safe high return investment? I’d be losing 10s of thousands a year in returns for my retirement to save a few thousand in mortgage interest.

      Same thing with cars.

      Then again, I don’t even buy new cars. I just get a dependable used Japanese car and drive it until it dies at 300k miles.