Banker asked:
My wife and I applied for an auto loan. We can borrow traditionally from a bank @ 9% or can go thru a family trust @ 7%…which makes sense because we can borrow more cheaply and pay the family more than they can fetch in today’s current interest rate environment (it would save a couple thousand dollars over the term of the loan).
My wife and I applied for an auto loan. We can borrow traditionally from a bank @ 9% or can go thru a family trust @ 7%…which makes sense because we can borrow more cheaply and pay the family more than they can fetch in today’s current interest rate environment (it would save a couple thousand dollars over the term of the loan).
However…we want to buy a house in a few years so WILL A BANK LOAN REPAYMENT OUTWEIGH THE LOWER INTEREST COST WE CAN RECIEVE NOW, meaning will this enable us to borrow at a lower cost when it comes mortage time.
Thanks
Cassandra