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Joined 10 months ago
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Cake day: November 16th, 2023

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  • If your friend can find an investment that nets > 6.9% then they should go w/ that but I’ve found it’s usually more cost-effective to pay down a loan. They can also refinance later if a lower pmt and/or % rate is desired

    I tend to buy cars with zero $$ down and instead throw extra money at the loan once it’s funded. I still keep the higher loan pmt to pay off the loan quicker. Having a large loan with a decent portion paid off boosts my credit score and helps me get higher loans in the future (I’ve been turned down for large loans in the past even w/ high income and good credit).