You mean taking a out a 30 year loan on a trip to Hawaii and a car that may last 7 years is a bad idea?
"You mean taking a out a 30 year loan on a trip to Hawaii and a car that may last 7 years is a bad idea?"
Amazing how many people don't understand that, not even after you explain it to them. The reply is: But my payment only goes up $200 a month and I get what I want NOW.
Good move... 200 x 360 that's $72,000 for that car and trip, sicker price of $30k.
"You mean taking a out a 30 year loan on a trip to Hawaii and a car that may last 7 years is a bad idea?"
Sounds good to me, but to each his own...
Heck here in Indiana they run radio commercials that tell you - - "relieve the stress of holiday gift bills by refinancing your house."
How well does that work?
default stats by location: http://www.frbsf.org/community/research/assets/GeographyofMortgageDelinquency.pdf