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Why wouldn't you take the loan on your van? Interest rates are under 3%, which is definitely cheaper than any mortgage or student loan you might be carrying. A
by JSONwebtoken 9y ago
Why wouldn't you take the loan on your van? Interest rates are under 3%, which is definitely cheaper than any mortgage or student loan you might be carrying.
Auto loan risk is significantly mitigated by modern advancements in GPS & tracking technology. No other collateral is as easily repossessable as a modern car.
- jedberg 9y ago3% is barely less than the mortgage, and it wouldn't be worth the hassle. Also I would never pay down my mortgage early. Which means I need to find an investment that will have a greater than 3% return. Since I can't really guarantee that, it's not really worth it. I'd rather not put myself into a situation where I'm that badly underwater.