Where is that simpson's clip of the rusted out car in Nelsons backyard with him saying "just 58 payments left and that baby is ours"?
Whats the depreciation curve for luxury cars that stupid people buy to make themselves look rich? (Disregard for a second that those people usually lease)
Glancing at the amortization table, it doesnt look to me like you would really be upside down at any point in the loan of a 7 year, $40k loan @ 3%.
Of course you pay more interest, but at a low enough rate, it may actually benefit you to put your cash in other investments.
End of: Principal Interest Balance
Year 1 $5,213.66 $1,128.70 $34,786.34
Year 2 $5,372.23 $970.13 $29,414.11
Year 3 $5,535.63 $806.73 $23,878.48
Year 4 $5,704.01 $638.35 $18,174.47
Year 5 $5,877.50 $464.86 $12,296.97
Year 6 $6,056.26 $286.10 $6,240.71
Year 7 $6,240.71 $101.87 $0.00
Grand Total $40,000.00 $4,396.74
Whats the depreciation curve for luxury cars that stupid people buy to make themselves look rich? (Disregard for a second that those people usually lease)
Glancing at the amortization table, it doesnt look to me like you would really be upside down at any point in the loan of a 7 year, $40k loan @ 3%.
Of course you pay more interest, but at a low enough rate, it may actually benefit you to put your cash in other investments.
End of: Principal Interest Balance
Year 1 $5,213.66 $1,128.70 $34,786.34
Year 2 $5,372.23 $970.13 $29,414.11
Year 3 $5,535.63 $806.73 $23,878.48
Year 4 $5,704.01 $638.35 $18,174.47
Year 5 $5,877.50 $464.86 $12,296.97
Year 6 $6,056.26 $286.10 $6,240.71
Year 7 $6,240.71 $101.87 $0.00
Grand Total $40,000.00 $4,396.74