But is there a real alternative to this at the current interest rate level? Other than higher payments or special repayments? With a falling interest rate level, the TE can still terminate early after 10 years and refinance.
I can only advise you to reconsider the financing. 296,000 * 4.5% = 13,320 * 30 years = 399,600 + 296,000 = 695,600 viewed this way not a good deal.
Maybe I’m missing something, but did you calculate 4.5% of 296,000 times 30? The interest portion decreases over the term. So that won’t be nearly 400,000 euros in interest, but more like around 200,000. Which is still a lot, of course, but with equity/current interest rates, it’s unavoidable. With a payment of about 1,600 euros, it would be paid off in under 30 years, so I would look at what the bank offers with a 20-year fixed interest period.
We follow the philosophy that we (except for the house) do not buy anything that we cannot pay for in cash.
Similar to my philosophy. However, I allow myself to buy a rational car on credit.
Especially since some furniture stores still offer 0% up to a certain amount.
If you point this out to a salesperson and then ask for the cash purchase price, you get a decent discount. Financing furniture is really a stupid idea. And what's next? Home theater, e-bikes for every family member, or even better, financing the vacation? Following the motto that you only live once?
If you point this out to a seller and then ask for the cash purchase price, you get a good discount.
Financing furniture is really a stupid idea. And what's next? Home cinema, e-bikes for every family member, or even better, financing the vacation? Following the motto you only live once?
And again the question here. Where is the problem? If there is enough money available to service the loans?
Primarily it's envy, because people already have their nice furniture on credit, while the average saver still sits at his old dining table for 5 years after moving in, because he only wants to buy the real wood oak table once he has saved the money for it ;)
Some things here are really so typically German, it’s creepy how well stereotypes can fit...
Financing furniture is really a stupid idea. And what's next? Home theater, e-bikes for every family member, or even better, financing the vacation? As the saying goes, you only live once?
Well, Tassimat, most people actually finance their phone with their 2-year contract ;) Many forget that.