I borrow against cash using Shared Secured Loans with our credit union, rates are 3% over what the dividend rate is. I use this to manage recurring annual expenses to ensure I have the capitol on hand the following year to make the purchase again. I intend to use it for future vehicle purchases as well, 3% is half pr less of going rate for vehicle loan and when it's "paid off" the cash is available for the next vehicle. If a payment cannot be made, I can forfeit that payments value from the loan with no hit to credit
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Fountain
The Survival Podcast • Don’t Confuse The Symptoms with The Problems – Epi-3689 • Listen on Fountain
Most people get fired up about problems without ever asking if what they are looking at is actually the problem or just a symptom of something deep...