This is why so many Canadians are in debt. Why would I borrow money if I have the cash on hand? LOL. This makes no sense to me. Please enlighten me with why you would recommend I borrow money? Perhaps I'm missing out on something?DoorCrasher wrote: ↑Well, it's off topic, and, again, none of my business, but why wouldn't you have a god interest rate fornthat 40k$ and borrow for your car? That's what I've done last February, put the car on the HELOC at a fixed rate of 2,5% for 5 years, and put my extra money in a mutual fund in a TFSA and from now on I have made 10%... Could have been better with more agressive account, but also could have been worse... And if you buy a brand new car manufacturers often have 0% interest rate... But if you have 0% interest rate on a new car ask for the car's price if you pay cash...
Edit: fyi not all car manufacturer offers a 0% interest rate.