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<blockquote data-quote="Nesikep" data-source="post: 1532202" data-attributes="member: 9096"><p>When I bought one of my cars, I had JUST gotten myself out of credit card debt, my work was booming and I was working stupid overtime. I went to my bank and got a line of credit, Prime plus 2 I think it is.. was it the best rate I could get? well,.. maybe not, but they didn't care what I bought with the money either and it's always available. I paid the car off then moved back to the farm, bought my truck with money from there, then paid it off over 2 years. 10 years later I still have $18,000 I can use whenever and for whatever I want.</p><p></p><p>Personally, I'd get the line of credit for liquidity but pay cash for the item, then you have no interest payments unless you need to dip into those funds.</p></blockquote><p></p>
[QUOTE="Nesikep, post: 1532202, member: 9096"] When I bought one of my cars, I had JUST gotten myself out of credit card debt, my work was booming and I was working stupid overtime. I went to my bank and got a line of credit, Prime plus 2 I think it is.. was it the best rate I could get? well,.. maybe not, but they didn't care what I bought with the money either and it's always available. I paid the car off then moved back to the farm, bought my truck with money from there, then paid it off over 2 years. 10 years later I still have $18,000 I can use whenever and for whatever I want. Personally, I'd get the line of credit for liquidity but pay cash for the item, then you have no interest payments unless you need to dip into those funds. [/QUOTE]
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