Shit.........[facepalm] forgot who I was supposed to post +1 for
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Shit.........[facepalm] forgot who I was supposed to post +1 for
Prolly for me.....tks man
I wasn't planning on using it.Quote:
Originally Posted by HoneyBadger
I might use it to buy a car sooner than I had anticipated, but we'll see. I'm not behind on any bills or anything. I wouldn't use it for that, silly.
Quote:
Originally Posted by Irving
Famous, NEVER EVER HEARD, last words
Why would you borrow against your house to buy the only asset that loses value like a brick in water? Why borrow at all? Why not just save for a few months and pay cash?
Correct. At least that's what you two have been talking about.Quote:
Originally Posted by HoneyBadger
Whereas i mentioned RAINY DAY FUND and was dismissed. He's borrowing against a semi solid investment to "possibly buy" a solid depreciating investment.
Myself. I open a rainy day packet and make use of it. No Interest, No monthly payment, Nothing. Except i now have to restock that source.
MMMMMmmmmmmm Who's financial savvy now?
Evidently You do.
Why the Hate Bro ?Quote:
Originally Posted by Westy
[LOL]
It's going to be nice the rest of the week. Get to painting.
Well, I'm currently borrowing a vehicle to work out of, and it gets terrible gas mileage. So while projections show that I can save the cash in under 3 months, I'm coming the gas tank every single day. The amount of interest I'd pay on a sub 10k loan that is paid off in under six months will pale in comparison to the $24 a day I'm currently paying in gas.
I currently have $40,000 worth of available credit without the HELOC, so having additional credit available is not likely to change my spending habits and get me into trouble.
I'm really trying to just use cash, but if the burden on family gets to be too great, I'd rather place the burden on myself via a loan if necessary.
Final note, I've got enough equity in my house that I would be setting up a HELOC, regardless, it just so happens to be bad timing. I didn't apply with the idea in mind to buy a car. Remember that I don't WANT to buy another vehicle.
Oh, and I came in here to say I think I saw Monkey and company trolling down Southbound I-25 in fancy cars today.