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What is better to pay for a product with $$$ from your pocket or get a loan?

A photo of Businessman Businessman
What is better to pay for a product with $$$ from your pocket or get a loan and pay it off slowly while keeping most of the money in your pocket.
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A photo of SUMmer123456 SUMmer123456

@Businessman wrote
What is better to pay for a product with $$$ from your pocket or get a loan and pay it off slowly while keeping most of the money in your pocket.



Depends on the rate of financing, and the opportunity cost of your investment. I don't necessarily think that one is BETTER than the other. It depends a lot on how much risk you're willing to take.
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What kind of product? You should always live within your means, unless you're making a large purchase like a house. You should avoid buying things like furniture, computers, etc. with a loan. "Rent to own" is also a huge scam.
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A photo of kraken kraken
Loans generally suck. I'd say if you can't afford it, you probably don't need it.
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A photo of ktel ktel
The only good loan is a mortgage
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A photo of Businessman Businessman
I am actually thinking about buying a laptop and paying it off in 2 years. Most likely I will pay it off in less than 1 year. Thats the only item I really need. I have enough money to buy it for cash. However, I want to keep some extra money on my bank card in case opportunities will arise.


@ktel wrote
The only good loan is a mortgage



I want to disagree with you. There are lots of risks with buying a house and taking a mortgage. You can buy a house today and tomorrow real estate bubble may blow up and you will be screwed big times.

The only good loan is your student loan. Thats the best loan which you will ever get in your life.


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A photo of ktel ktel

@Businessman wrote

The only good loan is your student loan. Thats the best loan which you will ever get in your life.




Unless you rack up a ton of student loans for a useless degree.
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A photo of chatmike chatmike

@ktel wrote

@Businessman wrote

The only good loan is your student loan. Thats the best loan which you will ever get in your life.




Unless you rack up a ton of student loans for a useless degree.





This x19821789091.


Student loan debt has surpassed credit card debt in the states
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@chatmike wrote
Student loan debt has surpassed credit card debt in the states


That's also because Americans have lowered their standards and thus a post-secondary degree is meaningless there.
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A photo of ktel ktel
And it's more meaningful here?
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A photo of kraken kraken
anyway, you don't NEED a laptop. bring a desktop if you have one, and take notes in class on paper. use library computers for essays and stuff if need be. or buy a super cheap laptop. Unless you're planning to work a lot and will be able to pay it off soon, I don't think a loan for a laptop is worth it.
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A photo of Businessman Businessman
If I had enough money to pay for my college/university I would still take a loan and invest my money elsewhere. While you are still attending school you dont have to pay any interest rates on your loan.

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A photo of vel vel
Get a crappy laptop and run some user-friendly distro of linux or Windows XP. I didn't use my laptop for anything other than watching movies, checking mail, erratic browsing and write-ups.

Besides, there really is no point in getting a high end laptop/desktop unless you game.
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A photo of Mar Mar
Pay cash
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A photo of Viking21 Viking21
If I were in this certain situation...I would certainly go for pay the with money (pocket). Unless it is something you are certain you need and can pay the loan in x amount of months.

If it is an electronic...for sure pay from pocket. By the time you pay off the loan the technology will be dated.

Furniture...maybe.

Car...I would take a loan, but not for long (3 years MAX).

Well that's my opinion.

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