Quote:
Originally Posted by fistpoint
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.
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True saving/CD's APR currently suck plain & simple. It's better to invest it elsewhere. I am gonna finance the car; even though, I have the funds buy it out right because I want to build credit and in this market credit history is everything and of course for the unexpected.
"Prepare for the worst, Hope for the best."