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Ask Dave

Save It For the Mortgage?

Dale is about to buy a $9,000 motorcycle. The dealer is offering a 0% financing deal. Does it make more sense to finance the motorcycle and pay the cash on the mortgage, which has a 3.875% interest rate?

QUESTION: Dale in Pittsburgh is about to buy a $9,000 motorcycle. He has the cash, but the dealer is offering a 0% financing deal. Does it make more sense to finance the motorcycle and pay the cash on the mortgage, which has a 3.875% interest rate? Dave doesn’t like that idea at all.

ANSWER: If you take 3% of $9,000, that’s $270. We are having this discussion over $270. You are going to play footsie with snakes over $270. Not a chance.

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Discover How to Reset Your Money in 2021!

Kick off your money reset with our FREE livestream! You’ll learn how to turn small wins into big results.
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