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Originally Posted by tranzformer
My local credit union's rate is 2.15%. That is with no risk. Want to increase your risk? You can definitely go higher based on how much risk you are willing to take. Please don't rely on advice from an internet forum, use a financial advisor. I am sure they can get you a better investment rate than that. Hopefully closer to 6-7%.
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6-7% not a chance...
Quote:
Originally Posted by tranzformer
I prefer having cash available rather than sinking +$25k into a car that will loose value as soon as I drive it off the lot. If you want to sink cash into the BRZ, go ahead. I would rather keep those funds available to invest or for an unexpected event.
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No one has said they were spending all or even most of their available cash to buy the car outright. That would be absurd and foolish.
Quote:
Originally Posted by tranzformer
I am already pre-approved for a auto loan rate for 1.9%/48mo. I would be stupid not to do that. Leaves my $25k in the bank and will only cost me ~$20/month in interest. I am easily making more than $20/month with my investment of that money currently.
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Well obviously your scenario doesn't apply to everyone here. Not everyone has access to that credit union, and some of us prefer to have a local brick-mortar bank instead of online only, which is where you find the highest rates.
My local banks offer .01%(yes, .01!!!), while most others offer a whopping .05% Then there is this one individual local bank that does .598%, almost 12 times higher than the average. It's that or online for me.
http://www.money-rates.com/savings.htm