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Suppose you are buying a new car for $30k, and you owe $10k on a car that would sell for $5k. A dealership would take the car worth $5k and lend you $35k?
by lotsofpulp 1y ago
Suppose you are buying a new car for $30k, and you owe $10k on a car that would sell for $5k.
A dealership would take the car worth $5k and lend you $35k?
- ponector 1y agoExactly! And with high interest rate, like 15% for 8y. 3 years later you can roll over debt into the next new car.