wjlambert profile image 76

Is it reasonable to prepay for the purchase of a vehicle to a dealer in monthly installments?


I ask this question of a finance rep at a local dealer. His reply was, "Yes, it's a called a savings account". I wasn't looking for sarcasm, but he never gave me a straight answer. Right now a savings account will pay at best 0.10% / year, which if you were paying $250 / month for 12 months would amount to $3000 and $1.38 in interest.

 

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DreamerMeg profile image88

DreamerMeg says

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4 years ago
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    Wes Lambert (wjlambert) 4 years ago

    Thank you for the perspective. I appreciate that you've got a mind for precaution.