View Single Post
      01-21-2020, 11:26 AM   #31
Private First Class

Drives: M2 Competition
Join Date: Sep 2019
Location: Boston

iTrader: (0)

Originally Posted by flybigjet View Post
What's the purpose of saving, if not to use the funds occasionally?
What's the purpose of using the funds when the cost of a loan is so low?

The interest is $3,124.86 on a $40,000 5 year loan. You setup an auto withdrawal on $719 per month to make the payment and in 5 years of a 6.5% return your car is paid off and you have an extra $4,223 in your account.

That's before you even calculate the taxes, which will always be higher when you take a lump sum like that instead of $719 a month.