Subject	Credit Unions typically have higher interest rates...
Posted by	Kenny on August 29, 2006 at 8:12 AM
	This message has been viewed 68 times.
In Reply To	credit unions...they dont have to pay taxes on the interest posted by Atl300zxTT on August 29, 2006 at 06:25 AM
Message	...because their total amount of operating capital is lower than larger banking organizations. Because of the way economies of scale work, they have to charge higher interest rates to turn the same proportional profit. Sure you save on whatever tax credit you're referencing, at the expense of a greater over all payment. Caveat: This is a massive generalization, YMMV. Recursively Yours, Kenny... PETZ Member #5
Follow Ups	what banks has everyone used for a used car car loan? - suprakillinz 03:35:24 08/29/06 Pay cash. Or get home equity line of credit and - AzHeat 03:39:14 08/29/06 I am not a home owner, I rent, and dont have 29k - suprakillinz 03:48:10 08/29/06 Scary to use home equity to finance a depreciating asset... (n/m) - John P. 08:36:26 08/29/06 Yes. Yes. (n/m) - RSR 08:42:22 08/29/06 it depends. (n/m) - SactoTodd 08:51:35 08/29/06 On what? Just curious. (n/m) - ZJeweler 09:30:05 08/29/06 If you're going to purchase a depreciating asset anyway, - Dustin 09:55:58 08/29/06 A car forum is not the place for sound financial advice - SactoTodd 09:56:36 08/29/06 Okay. - ZJeweler 10:05:12 08/29/06 Except you wouldn't be upside down with the car since - Dustin 11:20:16 08/29/06 Touche' - ZJeweler 11:34:36 08/29/06 LOL! Yep. (n/m) - Dustin 11:38:52 08/29/06 Re: Okay. - SactoTodd 12:05:25 08/29/06 I totally agree. - ZJeweler 12:46:10 08/29/06 If you are going to purchase a car anyway why not - AzHeat 13:01:26 08/29/06 Technically you cannot write off interest on... - DangerHunter 11:29:37 08/29/06 If you use an equity line to purchase a car and you can't - Only1Z 20:24:58 08/29/06 formerly Peoplefirst.com... - Fuzznutz 05:14:59 08/29/06 I used them as well. They lend based on your credit - zgene4 09:20:33 08/29/06 credit unions...they dont have to pay taxes on the interest - Atl300zxTT 06:25:01 08/29/06 Credit Unions typically have higher interest rates... - Kenny 08:12:36 08/29/06 Well the one i use only allows the employees of my company - Atl300zxTT 08:25:48 08/29/06 Glad you found such a good rate =). - Kenny 09:02:23 08/29/06 I also thought they were usually lower because they are NFP. - Scotts94z32 09:47:31 08/29/06 That's the tax credit he initially referenced. - Kenny 09:53:38 08/29/06 Higher rates but will finance older cars as well. (n/m) - BigTDogg (MA) 08:36:40 08/29/06 I've never had a CU loan at a higher rate than - LordZ 08:42:37 08/29/06 Re: I've never had a CU loan at a higher rate than - Kenny 09:09:54 08/29/06 I've always used credit union because they had lower rates. (n/m) - Woody75 (Denver) 09:16:03 08/29/06 Same here. Never seen a CU with higher rates than a - just4kinks 12:10:49 08/29/06 3rd. My credit union is usually at least a full percentage - Swatsav 12:13:38 08/29/06 Credit unions are in a different tax bracket than - Red-Oct 10:17:04 08/29/06 Mine was lower way back then because of direct deposit - SeedyROM 17:35:44 08/29/06 stop. you have enough cars that don't run (n/m) - spyhunterTT(nj) 07:32:42 08/29/06 NO! He needs more!! LOL (n/m) - kryptonite729@VP (GT2871s) 07:52:58 08/29/06 94 jeep runs great;-) and my z runs just not insured - suprakillinz 13:32:56 08/29/06 I used capitaloneautofinance.com for my supra - kryptonite729@VP (GT2871s) 07:54:05 08/29/06 Borrow from your parents at a reduced interest rate (n/m) - spicyZ 08:13:11 08/29/06 Interest rates are up b/c the prime rate is up. (n/m) - boileralum 08:49:30 08/29/06 Come on now - you KNOW he knew that. ;-) (n/m) - Scotts94z32 09:45:26 08/29/06 I'm not one to assume Antonio and common sense have - boileralum 10:12:37 08/29/06 CapitalOne is good. I used them in the past but all rates - craigb 09:29:37 08/29/06 USAA.com (n/m) - SniPer SR71 (Dallas) 09:34:11 08/29/06 2nd. (n/m) - TT XTZ 10:38:52 08/29/06 3rd. - bobZtwin (NC) 10:56:13 08/29/06 age of car has a lot to do with apr. (n/m) - nemo1080 09:43:44 08/29/06 Not usually. It's either new OR used. (n/m) - Scotts94z32 09:45:49 08/29/06 At my CU it's either new, used, or really used. - Kenny 10:02:49 08/29/06 2nd (n/m) - BigTDogg (MA) 10:16:36 08/29/06 3rd - nemo1080 10:58:38 08/29/06 no (n/m) - zboost(tx) 10:50:00 08/29/06 It depends on what bank you're talking about. - Kenny 11:17:06 08/29/06 Well, in MY case - YES>> - Scotts94z32 11:38:26 08/29/06 Re: what banks has everyone used for a used car car loan? - Nadir(Detroit) 10:13:47 08/29/06 Big 2nd on the credit union. - ZJeweler 10:57:41 08/29/06 Hibernia is a great one! - aquariuscsm 11:11:12 08/29/06 A few loan facts from experience setting APR rates: - The Devils Z 11:13:01 08/29/06 I used Brianna Banks for my car loan... (n/m) - BigTDogg (MA) 11:37:58 08/29/06 And I'm sure that's all you used her for.... (n/m) - ZJeweler 12:00:34 08/29/06 She used me. For real, gave me a work out! (n/m) - BigTDogg (MA) 12:09:03 08/29/06 Never borrow money to purchase a depreciating asset IMO. - 240Z FeO2 12:48:12 08/29/06 thats any car though, so if I go out and buy a new - suprakillinz 15:15:55 08/29/06 What car has a rissing price? (n/m) - Scotts94z32 17:14:48 08/29/06 Ferrari F40 & Mazda 323GTX, dhu (n/m) - SactoTodd 17:25:19 08/29/06 supra, they just keep going up and up and up - suprakillinz 18:59:34 08/29/06 No offense, but the Supra crowd is old and tired... - Only1Z 20:28:32 08/29/06
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