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I am not really good at figuring finances out, so I could use some help here. We are going to be refinancing our home anyways and I was wondering if it made more sense to take out enough of the loan to pay for the Sky rather then taking a car loan. We have enough equity in our property to do this.
What I would do is make a car payment of ~450 every month on top of the loan payment till the cost of the car is paid off. I looked at some scenario's in Excel and it appears by doing, this we will actually save several thousands of interests for those year as compared to taking a second mortgage for the amount minus the cost of the sky. However, usually when I try to figure something out like this I miss the obvious.
So anybody with greater mind for finances has any input it would be greatly appreciated.
What I would do is make a car payment of ~450 every month on top of the loan payment till the cost of the car is paid off. I looked at some scenario's in Excel and it appears by doing, this we will actually save several thousands of interests for those year as compared to taking a second mortgage for the amount minus the cost of the sky. However, usually when I try to figure something out like this I miss the obvious.
So anybody with greater mind for finances has any input it would be greatly appreciated.