0% Interest Rates Worth It?

You’re going to overspend when you use a zero percent interest type of financing to make purchases.

QUESTION: A listener asks if 0% interest rates are a good deal.
ANSWER: No.  They’re never zero.  A new car loses 60% of its value in the first four years.  That means you’ll turn a $28,000 car into $11,000 in four years.  You call that zero!  Ninety days is not the same as cash!

You’re going to overspend when you use this type of financing to make purchases.  You’re going to buy a bunch of stuff you can’t afford just because you’re getting 0% or ninety days same as cash.

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