4 ms·

Refinancing at 2.5% is the closest I have ever been to winning the lottery. I can't imagine trying to buy a house or finance a car right now, especially with de

Refinancing at 2.5% is the closest I have ever been to winning the lottery. I can't imagine trying to buy a house or finance a car right now, especially with dealers charging crazy ADMs. Something is going to have to give.

test6554 4y ago
I wish there was a p2p lending program where I could make some cash and people with good credit could borrow for better rates than banks offer.
- lotsofpulp 4y ago
  There is, just put a sign outside your door or post an ad on Craigslist/Facebook/etc. Although, I hope you have a good reason to think you are better at predicting probabilities of default than professional lenders with teams who do it day in and day out.
  - PubliusMI 4y ago
    Many professional lenders face regulatory challenges that a small private lender might not face. For example, a professional lender is likely to face greater scrutiny under the Civil Rights Act.
- njarboe 4y ago
  Lots of companies doing this for awhile. I'm not sure about the rates, but you can find them by googling "best ptp loans for investors" or something like that. https://www.prosper.com/ https://www.prosper.com/ is one, for example.
- supertrope 4y ago
  It's called a credit union.
- fundad 4y ago
  Credit Union?
avgDev 4y ago
A credit union I used for my house which had competitive rates has very good rate for new auto loans. It is about 4.09% for 4-5 years.
- post_break 4y ago
  I'm sorry are you saying 4.09% is a good rate? Anything 2% or lower is a good rate, my house was 4% back in 2019.
  - avgDev 4y ago
    Yes, I think 4% is still relatively low and a good rate. I would probably take out the loan to have that money invested in the market or bonds.
  - rocket_surgeron 4y ago
    In the context of banking and financing for the entirety of human history, 4.09% is fantastic, outstanding, amazing. In the context of the last four years it is not. It is "merely" good. I do not consider the last four years to be the foundation on which to start building assumptions. Even in the context of the last four years, for auto loans 4.09% is only above average for about six of the last 48 months (Sept 2021 - Feb 2022).

test6554 4y ago

I wish there was a p2p lending program where I could make some cash and people with good credit could borrow for better rates than banks offer.

lotsofpulp 4y ago
There is, just put a sign outside your door or post an ad on Craigslist/Facebook/etc. Although, I hope you have a good reason to think you are better at predicting probabilities of default than professional lenders with teams who do it day in and day out.
- PubliusMI 4y ago
  Many professional lenders face regulatory challenges that a small private lender might not face. For example, a professional lender is likely to face greater scrutiny under the Civil Rights Act.
njarboe 4y ago
Lots of companies doing this for awhile. I'm not sure about the rates, but you can find them by googling "best ptp loans for investors" or something like that. https://www.prosper.com/ https://www.prosper.com/ is one, for example.
supertrope 4y ago
It's called a credit union.
fundad 4y ago
Credit Union?

avgDev 4y ago

A credit union I used for my house which had competitive rates has very good rate for new auto loans. It is about 4.09% for 4-5 years.

post_break 4y ago
I'm sorry are you saying 4.09% is a good rate? Anything 2% or lower is a good rate, my house was 4% back in 2019.
- avgDev 4y ago
  Yes, I think 4% is still relatively low and a good rate. I would probably take out the loan to have that money invested in the market or bonds.
- rocket_surgeron 4y ago
  In the context of banking and financing for the entirety of human history, 4.09% is fantastic, outstanding, amazing. In the context of the last four years it is not. It is "merely" good. I do not consider the last four years to be the foundation on which to start building assumptions. Even in the context of the last four years, for auto loans 4.09% is only above average for about six of the last 48 months (Sept 2021 - Feb 2022).