10-22-2008, 02:45 PM
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6th Generation Texan
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Join Date: Feb 2002
Location: Devil's Backbone,RR 32,
TX
Cobra Make, Engine: Lone Star Classics #240,Candy Apple Red,Keith Craft 418w - 602 HP,584 TQ
Posts: 8,157
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Not Ranked
Quote:
Just to make the math simple,let's say you are in the 25% tax bracket.
How is paying your bank $1 in interest to save paying 25 cents in taxes a good financial decision ?
You can quickly go broke saving money like that.
Again...If you can't pay cash,you can't afford it.
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What I gave as an example has nothing what so ever to do with the interest rate of the loan. It Just doesn't matter what it is.
Last edited by 392cobra; 10-22-2008 at 03:54 PM..
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