Home improvement loan with Upgrade

[Realist]

There are many loans in life that are unnecessary, money spent that "might" be better spent elsewhere.  But, where's the fun in that?

I try to identify how to achieve the fun, while still pursuing the best opportunity.  In your loan scenerio, it appears you are about to spend less than $2700 in interest over the life of the loan, to obtain this loan.  That's not a bad deal.   Manipulating the loan through terms is always the strongest advantage to you.  More down, the least but still affordable in term, allows you to pay the most on principle and the least amount on borrowed money.  You control this option by taking out a set term loan (5 years in this case), and prepaying the monthy payment towards principle.  In the event of catastrophe, you can default back to the original terms.  The option, but not the obligation to prepay down on pay off.

Run the numbers, run the calculators.  You can calculate everything down to the dollar these days.  By using finance in this way, you can acquire a lot, with very little interest paid on loans.  Provided one doesn't just pay cash.

[ptatohed]

Um, @Realist , who are you talking to? 

[Realist]

What the heck.

I have no idea how a response, actually became a new post.  I wonder if I fat fingered something.

Mods can delete this one if they want.  It goes nowhere and has no content to be directed at here.

*scratches head*

[MySunrise271]

@Realist I thought this topic was moved from General Credit. If you go there the topic is there but not sure why only your response is here 🧐