Alex_angel
“I guess you just have to be smart about it. Not like these wannabes in San Diego with their BMWs and Mercedes that they bought with the credit line they had.”
Why would they have bought any other way. Net after tax on a 7% Equity line in 35% tax bracket is %4.55. Cash in the bank is earning 5%. Sort of miss why you would elect for another form of financing.
Now if you have not saved up and could not afford the car otherwise I will go along with your statement that they should not have bought that type of car.
