Timeline for Is it better to draw down offset or finance a vehicle purchase (or neither)?
Current License: CC BY-SA 4.0
5 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Jun 10, 2019 at 3:17 | vote | accept | aroth | ||
| Jun 3, 2019 at 2:01 | history | edited | RonJohn | CC BY-SA 4.0 |
added 381 characters in body
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| Jun 2, 2019 at 22:39 | comment | added | Victor | @RonJohn - it is true (or the best option if buying now) because any interest incurred on Loans 2 & 3 would be tax deductable, and with a salary of $150k, the OP would get back (in tax savings) 37% of any interest incurred on those loans. So even though loan 2 is at 4.75% the OP would get back 37% of 4.75% (about 1.75%), so would effectively be paying only 3% interest on that loan compared to 3.9% on Loan 1 (which is not tax deductable). | |
| Jun 2, 2019 at 12:35 | comment | added | RonJohn | Why is sentence #1 true? | |
| Jun 2, 2019 at 10:15 | history | answered | Victor | CC BY-SA 4.0 |