Quote:
Originally Posted by tranzformer
Take the $25-30k you would pay for the car. Get a 1.99% loan for 4 years. You already have the money to pay the loan off outright. Then pay the monthly loan while you invest or leave the money in a CD/high yield savings account.
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Show me a high yield savings or CD that is over 1.9%? And that's assuming people get approved for that rate. Assuming they do, where are these CD's and accounts?
There is maybe 1 or 2 banks in the US offering 2%, which makes the process moot. CD's also are around 1%, half of what your APR for the loan would be in the best scenario.
You'd have to find the absolute best savings or CD just to break even after paying the taxes on the gains. All that effort for what would amount to mere dollars saved.