The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Real-Estate Leveraging||Date: 9/1/2005 8:58 AM|
|Author: imsaving||Number: 47525 of 75792|
If you plan on having $43000 in the bank within 2 years, why couldn't you first use a portion of that to pay off the car loan, then use the extra savings that puts in your pocket to pay off the other loan?
The reason is because if I refinance and have a small payment, this will enable me to save the $43000 a lot easier within 2 years. If you notice above, I will cut my payments in half. That's why they call it leveraging.
Also the installment loan is secured with my home property with a 5.8% interest. The car loan is around 5% as well.
Interesting thoughts from all of you.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|