Re: Just a thought - Saab General Bulletin Board - Saabnet.com
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Re: Just a thought
Posted by AeroDave [Email] (more from AeroDave) on Wed, 13 Jul 2005 11:55:59
In Reply to: Post for Finance/Number Smarties 1.9% vs 6%, Scott Paterson 
[Profile/Gallery]
, Wed, 13 Jul 2005 11:09:19
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Wouldn't this sort of depend on your overall tax situation? In some circumstances, you may see a lower tax liability, but not actually get the deduction back at filing time. I would think, in a case like that, the overall lower interest would be more desirable. Another thing to think about is that a home equity loan can be, and often is, paid back over 10 or 15 years. You'd make lower payments, but pay a LOT more interest in that case, even given the tax benefit. A car loan would be 4, 5, or 6 years in most cases ($981.81 - $1,471.83 in interest at 1.9%, approx). If you took 10 years to pay the same loan, the interest alone would be $8,306.15, quite a difference even if you DO get some taxes back...
-Dave
Posts in this Thread:
- Post for Finance/Number Smarties 1.9% vs 6%, Scott Paterson , Wed, 13 Jul 2005 11:09:19
- $1,100 savings for 24 months, Mike Lynch
, Fri, 15 Jul 2005 13:36:21 - Chasing the free money, OKSaabs, Wed, 13 Jul 2005 14:51:23
- Need to make sure the 1.9% rate is really the ...., TKC, Wed, 13 Jul 2005 12:22:07
- Re: Just a thought, AeroDave, Wed, 13 Jul 2005 11:55:59 <-- Viewing This Message
- Re: Post for Finance/Number Smarties 1.9% vs 6%, OKSaabs, Wed, 13 Jul 2005 11:50:32
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, Wed, 13 Jul 2005 14:33:57