Any bankers?

[HTexan]

Is a $35000 CD at 2.10% with a loan at 4%, at 3 years fixed a good rate?
 

[JOHN MATRIX]

they are just trying to exploit you any way they can.

[Spike]

they are just trying to exploit you any way they can.

thumbs up

I'm all liquid so i say fck the banks

[2Thick]

Is a $35000 CD at 2.10% with a loan at 4%, at 3 years fixed a good rate?
 

A legit 2.10% rate on a cd nowadays is actually pretty good if the term is not unreasonably long. As for the second part, are you saying that you're borrowing against the cd at 4% fixed for 3 years? Is the loan term only 3 years, or is it only fixed for 3 years, with a period of adjustment after the first 3 years? I'd personally avoid any loan that is not fixed for the entire term. If that is 4% for the entire term, I'd consider that a good rate to borrow at. But if you are borrowing very much LTV against the 35k @ 2.10% cd, you are losing money. Have you looked at possibly cashing out some of the cd (considering penalties and taxes of course) and compared the figures?

[ManBearPig...]

A legit 2.10% rate on a cd nowadays is actually pretty good if the term is not unreasonably long. As for the second part, are you saying that you're borrowing against the cd at 4% fixed for 3 years? Is the loan term only 3 years, or is it only fixed for 3 years, with a period of adjustment after the first 3 years? I'd personally avoid any loan that is not fixed for the entire term. If that is 4% for the entire term, I'd consider that a good rate to borrow at. But if you are borrowing very much LTV against the 35k @ 2.10% cd, you are losing money. Have you looked at possibly cashing out some of the cd (considering penalties and taxes of course) and compared the figures?

ha ha

[HTexan]

A legit 2.10% rate on a cd nowadays is actually pretty good if the term is not unreasonably long. As for the second part, are you saying that you're borrowing against the cd at 4% fixed for 3 years? Is the loan term only 3 years, or is it only fixed for 3 years, with a period of adjustment after the first 3 years? I'd personally avoid any loan that is not fixed for the entire term. If that is 4% for the entire term, I'd consider that a good rate to borrow at. But if you are borrowing very much LTV against the 35k @ 2.10% cd, you are losing money. Have you looked at possibly cashing out some of the cd (considering penalties and taxes of course) and compared the figures?

The loan is fixed at 4% for 3 years. CD Matures in 3 years.
Basically I'm borrowing against a CD to buy a car. I will own the car in 3 years, and at the mature date ,3 years, i will still have the principle plus interest. 

[PANDAEMONIUM]

Is a $35000 CD at 2.10% with a loan at 4%, at 3 years fixed a good rate?
 

If you're an exec and launder money, I can help you.  But I don't come cheap--unlike "dov's" mom.

[HTexan]

If you're an exec and launder money, I can help you.  But I don't come cheap--unlike "dov's" mom.

So no dollar BJs?  

[PANDAEMONIUM]

So no dollar BJs?  

 

[2Thick]

The loan is fixed at 4% for 3 years. CD Matures in 3 years.
Basically I'm borrowing against a CD to buy a car. I will own the car in 3 years, and at the mature date ,3 years, i will still have the principle plus interest. 

Sounds like a good deal then IMO, assuming the 4% is lower than you can get on direct auto financing right now. I know lenders sometimes offer 0% through dealerships (if you qualify), but I'm not sure if they are doing this sort of thing right now or not.

[funk51]

i heard cosmo kramer always wanted to be a banker.

[freespirit]

Legal criminals.

[HTexan]

Legal criminals.

[freespirit]

 

[buffdnet]

just remember your borrowing to obtain a depreciating asset.
in the end you lose regardless. but the best way to purchase and
automobile is to put down at least a third and borrow the rest for
no more than 3 years if you can't/won't pay cash. you could do alot worse.
better to drive an older paid for car and swallow (no homo bob ) your pride

[HTexan]

just remember your borrowing to obtain a depreciating asset.
in the end you lose regardless. but the best way to purchase and
automobile is to put down at least a third and borrow the rest for
no more than 3 years if you can't/won't pay cash. you could do alot worse.
better to drive an older paid for car and swallow (no homo bob ) your pride

No, a CD is better because you keep the principle and interest I get a better rate.
Yes I had a range rover sport so i know that SUV would have last forever, and then some.
But, a 2010 Shelby is sweet tho.

[buffdnet]

consider this.
you will pay full sticker. ford aint gonna discount that car.
making your intial depreciation much greater.

your depreciation over the 3 years will be far higher than on a non
sports car because they only appeal to a very small segment of car
buying market and are seaonal.
in the end you will lose money.
and oh yea, insurance. more lost money.
points to come on your license and higher insurance rates,
more lost money.
you won't listen and it is your money but a fool and his money....