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You will lose out on market gains. Never take loans from your retirement. Don't be a poor American. Buying a car requires cash. Pay cash for cars. If you only have 5k cash to put down on a car, you need to buy a 5k car. If you only have 1k, guess what, you need a 1k car. SiGmA_X fucked around with this message at 18:32 on Nov 30, 2014 |
# ¿ Nov 30, 2014 05:09 |
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# ¿ May 15, 2024 05:13 |
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WhiskeyJuvenile posted:Apples to apples, any loan I take is being paid back with post tax dollars, and I'm not too concerned with the productivity of my account; it is still growing at 2% interest, and although I forego higher gains, I'm insulated from loss. I would surely go with a bank note if you can't cash flow it. You're losing market gains and paying a higher rate that you would get from a bank. Unless you have horrid credit, which I guess could be a fair assumption based on being flat broke and making 120k/yr+...
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# ¿ Nov 30, 2014 18:28 |
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WhiskeyJuvenile posted:"yes, let me sell stocks instead of paying sub-2% APR" said no one ever And you ARE selling stocks to take a sub-2% loan by doing this. While you could do the same with a credit union, and NOT sell your stocks. But that doesn't change the fact that you can't afford the car and should save up for it. Its just a car, and its ~12% of your salary. That should be pretty easy to cover with cash. SiGmA_X fucked around with this message at 07:02 on Dec 1, 2014 |
# ¿ Dec 1, 2014 06:04 |