I have savings and investments I could tap. With the only debt being the mortgage, that's an easy payoff. I also have short term disability coverage, long term disability coverage, life insurance, etc.
One way is not better than the other. They are just different. Now, using debt to live above your means is a totally different story. That's never a good idea. I am curious to know one thing...if I can finance something for 0%, and I have the cash to buy it, what is the downside to financing it at 0% and letting the cash earn investment income?
I've looked into a lot of the 0% financing offers. Like stater earlier, most (nearly all) are either a 0% financing, or a discount for cash payment. If the 0% financing price is actually higher then the cash price, how can it be 0% financing?
Your paying the financing cost up front, and then they are hoping you don't make that last payment by the date set, or they get to charge you more financi8ng charges, back to the original purchase date. You can keep believing its really 0 % financing if you want.
A couple years ago, we bought new flooring for our house. The company was advertising 0% financing, but the cash price was $1,000 cheaper. Please explain how that works.
BTW, our credit score is over 800 with no debt of any kind. Gene
