Infiniti Fiinancing
12-08-2007, 02:19 AM
#16
Exactly.
I am sure you can find a money market account around 4.5% interest.
10k is going to get you 0.6 interest if using their 3.9% financing deal or 1.6 if using their 2.9% deal (with my estimated 4.5% money market rate).
No reason to give them your money so they can make more interest off it
Thats why the financing rates they are advertising are called "deals" because they are lower than what you could earn with your money elsewhere.
Hope that makes sense.
I am sure you can find a money market account around 4.5% interest.
10k is going to get you 0.6 interest if using their 3.9% financing deal or 1.6 if using their 2.9% deal (with my estimated 4.5% money market rate).
No reason to give them your money so they can make more interest off it
Thats why the financing rates they are advertising are called "deals" because they are lower than what you could earn with your money elsewhere.Hope that makes sense.
12-08-2007, 12:48 PM
#18
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tax deduction with 2nd mortgage
With a HELOC you are paying interest, whether its tax deductible or not, with the money market account you are getting paid.
12-08-2007, 08:15 PM
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If there are some numbers people on this forum I'd be interested to see the outcome.
As it stands, I've mostly done 2 year leases over the past decade.
12-08-2007, 09:15 PM
#20
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I took advantage of the 2.9% financing as it was a good deal. I'm not an accountant so I won't try to crunch the numbers but from the surface it seems like the deduction just stops you from paying tax on that interest money on the HELOC, it doesn't actually make you money (over the interest rate you pay for the car) like a bank account would.
12-13-2007, 12:58 PM
#21
Exactly.
I am sure you can find a money market account around 4.5% interest.
10k is going to get you 0.6 interest if using their 3.9% financing deal or 1.6 if using their 2.9% deal (with my estimated 4.5% money market rate).
No reason to give them your money so they can make more interest off it Thats why the financing rates they are advertising are called "deals" because they are lower than what you could earn with your money elsewhere.
Hope that makes sense.
I am sure you can find a money market account around 4.5% interest.
10k is going to get you 0.6 interest if using their 3.9% financing deal or 1.6 if using their 2.9% deal (with my estimated 4.5% money market rate).
No reason to give them your money so they can make more interest off it
Thats why the financing rates they are advertising are called "deals" because they are lower than what you could earn with your money elsewhere.Hope that makes sense.
12-13-2007, 01:02 PM
#22
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Perhaps check http://www.bankrate.com/brm/rate/mmmf_home.asp
If you have a paypal account they usually have one of the highest yielding money market accounts.
If you have a paypal account they usually have one of the highest yielding money market accounts.
12-13-2007, 01:25 PM
#23
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Typically when you have a monthly payment due, any extra you send in will apply to the accured interest FIRST then apply the rest to the principal. It should work the same way as student loan since that's what I am paying now.
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