Fuck Cars

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A place to discuss problems of car centric infrastructure or how it hurts us all. Let's explore the bad world of Cars!

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As a bike rider, I forget this is a thing. Asked my neighbor, he pays $350/month in insurance alone 🙃 (slrpnk.net)

submitted 6 days ago by [email protected] to c/[email protected]

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[–] [email protected] 1 points 5 days ago (1 children)

I'm doing the same thing, but I still don't understand it. Why are creditors offering 3.54% car loans instead of just getting 8% themselves?

[–] [email protected] 2 points 5 days ago (2 children)

That loan was likely originated during a different intertest environment. So that commeneter is playing arbitrage

[–] [email protected] 2 points 5 days ago

This is exactly the case. Also, I worked for a credit union at the time, and employees got a 1% discount on interest rates for loans over a 24 months.

[–] [email protected] 1 points 5 days ago

I can't speak for the other guy, but these high interest investments were available when I took out my car loan too. That's why I opted for the longer term loan.