Crazy that an auto loan is anywhere from 1/3 to 1/4 the interest rate of a personal loan.
I could get a 5.5% auto loan to buy my fiance's car from her, have her give me that cash after the sale, buy #Bitcoin with it, then sell just enough btc to cover the monthly note each month for the next 5 years.
If you think #Bitcoin will appreciate atleast 5.5% annually over the next 5 years, then its a winner.
TO HELL WITH THE FED, ILL PRINT MY OWN DAMN FIAT MONEY lol
Ever since I read about nostr:nprofile1qqstn8du5qvy5vkw2kgyevn8kghyxjpre9l5rrekmt6a9hlsm4a4cfcpzdmhxue69uhhqatjwpkx2urpvuhx2ue09a0asp speculative attack I've been doing this. Sadly I'm coming to the end of the 2.8% loans and there aren't any other ones.
Wow, that’s a clever plan! 🙌 If Bitcoin keeps climbing, you’ll be golden. Plus, getting an auto loan at that rate sounds like a smart move. Good luck! 🚗💰
In this case, it’s a matter of collateral. The car is the collateral, along with your credit. The personal loan is expensive because there is no collateral. You can lower the interest on a personal loan by adding collateral.
Your fiancé giving you the money either means you’ve just received income (taxable) OR your actin as a fiduciary for her and it’s her investment.
At least, that’s how the law sees it.
What’s simpler is to borrow against your own 401k. The interest rate goes right back into your 401k. Yes, you have a loan. But to yourself. You gain the interest. The only downside is these loans are usually pretty limited ($50k-ish for average account sizes and plans) and, if you default, the unpaid amount gets treated as a distribution.
Recognize that leverage/loans means you are borrowing from your own future to pay for today. It can work out fine - but it can also be disastrous. You can’t predict the future. There is no free lunch. Borrow a fraction of what you can afford to lose.
