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New car buying advice needed.
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<blockquote data-quote="ron g" data-source="post: 1003148" data-attributes="member: 13653"><p>ok. let me state the blindingly obvious. as much as i promised myself i would never respond to one of these threads i just can't help it...</p><p></p><p>[lecture mode on]</p><p></p><p>the 50k "cash back" is not cash back. it is a high interest rate long term loan. (not sure if you can use it to reduce the principal or not?)</p><p></p><p>your credit would not be finished. it would be transferred. from a credit card account to a combined long term instalment sale / loan account.</p><p></p><p>with none of the advantages of a credit card, probably a higher rate of interest, and you will wind up paying far more.</p><p></p><p>[/lecture mode off]</p></blockquote><p></p>
[QUOTE="ron g, post: 1003148, member: 13653"] ok. let me state the blindingly obvious. as much as i promised myself i would never respond to one of these threads i just can't help it... [lecture mode on] the 50k "cash back" is not cash back. it is a high interest rate long term loan. (not sure if you can use it to reduce the principal or not?) your credit would not be finished. it would be transferred. from a credit card account to a combined long term instalment sale / loan account. with none of the advantages of a credit card, probably a higher rate of interest, and you will wind up paying far more. [/lecture mode off] [/QUOTE]
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