Quote:
Originally Posted by Hondaracer
You’d be seeing a return in the savings on interest as opposed to using another means to obtain that money.
A heloc will almost always be a better rate than you’d get from a dealership on a vehicle. Reno’s you could potentially add value to your home and with that potentially have some tax write offs that would offset your loan etc.
I know there is obviously the train of thought thinking dont spend the money you don’t have, however, I think there is a lot to be said about getting things like Reno’s out of the way and actually enjoying your home as opposed to living in shitty conditions until you Reno a month before you sell in hopes of making a few extra bucks.
|
Having leased and financed cars in the past, I'm not sure I'd go that route again regardless of who I'm borrowing from. It's not easy to watch your hard earn cash disappear with depreciation.
Quote:
Originally Posted by westopher
Absolutely not.
There are plenty of car purchases made in the last 10 years by people that have outpaced real estate investment.
You can drastically increase the value of your home with the proper renovations, sometimes netting double the ROI in a home sale.
There are people who's marriages, or careers have been salvaged by a desperately needed break to travel, or simply vacation.
Blanket statements about investments, or how others spend money, are for those that haven't bothered to actually learn about the possibilities, or can't see the big picture.
|
People who purchase cars as investments will have enough cash to buy it outright. These collectors are not your average motorist who may require financing to buy a daily driver that will depreciate once they drive it off the lot.
I'm not going to tell others how to spend their money but if they want to borrow to go on vacation that's their choice. I go on multiple trips every year and I've never once had to borrow. That's what budgeting and saving are for.