bdiamond001

New tax law no longer gives a deduction for Home Equity loans

linderpat

Correct - HELOC will no longer be deductible. Plus, why ever put your house at risk for non-essential things. Home equity is one aspect of a savings plan. But an important one, obviously. I am always amazed, for instance, by folks who roll credit card debt into a home equity, then run the debt back up. Crazy and risky financial planning. Pay cash when you can, and borrow only when your cash can perform better than the loan rate.

Bruce In Philly

ah oh....... crap.

Peace
Bruce in Philly

Paolo123

Financed 60k from Consumers Credit Union @ 1.99% for a '11 Carrera recently. They also have an awesome rewards checking acct that has 4.45% interest.

rwdds

One other option (if you are veteran or have been an employee of the federal government) is USAA insurance. A great company that offers easy straightforward loans with very low rates. They also offer excellent insurance for auto & home.

Cramp

leon yagudayev

I think its called Lightstream. And I got auto loan from them in litteraly 1 hour for z3 M couple of years ago. The car at that time was 13 years old

Quadcammer

care to provide a link to this checking account that pays 4.45% interest

Tcc1999

PCA1983

I've used PenFed too, and one of my mortgages is with them.

I was surprised to find AAA offers auto rates as low as 1.79%, when you set up automatic payments, for new and used cars with excellent credit.

By the way, I jacked up our credit scores by paying off all our credit cards several times a week instead of once monthly. We use credit cards for every purchase possible without a surcharge for using a credit card. Paying every few days keeps the reported balances very low, while maximizing our cash rebates (currently around $1200-500 cash back each year). Just this simple trick of paying early and often raised our credit scores from 795/800 to 825/830. I like it because it's easy to do on my phone, and it keeps me informed of what's happening on my account activity.

On the best credit cards,
here are the best credit card cash rebates I've found -
AMEX Blue Cash Preferred: 6% on groceries, 3% in department stores
Sam's Club MasterCard: 5% on gasoline, 3% on dining and travel
PenFed Visa: 2% on everything else

devioustrap

​​​​​​​

https://www.myconsumers.org/personal/checking

If you're willing to swipe your card 12 times a month, this isn't crazy at all.

I have a LMCU account that's similar, 3% if you use the card 10 times.

Flat_Six_

Same. My loan rate is lower than my savings account interest rate ... so I made money keeping the money in my saving's account.

Tcc1999

groovzilla

if you can, pay cash for cars - i've been doing this for 25 years - cheaper insurance only needing liability policy and i self insure if i'm responsible for damage to my car - i've calculated that i have saved approx $60K insurance savings alone in 25 years with porsches and ferrari i've owned

doccao