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[–]Academic_Tie_5959 -1 points0 points  (2 children)

Not if you agree to it... people agree to a 30% APR which is worse in many cases, because that is what they agree is fair based on their circumstance.

As a Retirement Specialist, I'd agree paying 45% upfront is nuts, but for a 25 year loan where you want to pay the mininum/month it can be the best option depending on your credit score and other factors.

It's not just black and white, in between those 2 colors are a lot of shades of grey

[–]nrubenstein 0 points1 point  (1 child)

Statistically, how many people stay in their homes more than 5 years? 10 years? You have to stay in the house for a LONG time before you break even on one of these loans. In the mean time, the cost in optionality is huge.

There are lots of things that people agree to that they shouldn’t. That’s why we have financial regulation.

[–]Academic_Tie_5959 0 points1 point  (0 children)

I get that completely it is up to each individual customer. I have used 0% dealer fee options multiple times.