OK, it's true you would wind up paying a HECK of a lot more interest in the car, and would dramatically increase the potential to get upside down on it, your monthly payment would be less. It just depends on your financial situation.

 

Right, therefore, just numbers to go with the thought.

$25,000 @ 6.5% for 30yr = $24,375 interest. Payment $137.15

If you are using the vehicle all summer, this would not make sense.

If you were to hardly use it and still had like only 50K miles on it thirty years from now then I would see the reasoning. Regardless of what some may think, the cost of the surviving Stangs will increase after that time. If we still have dino juice.

You would still have to factor in a possible cost of mortgage insurance due to low equity on the home. There would be a possible tax savings on the interest, but there is talk of taking away that deduction in the near future tax changes.

 

Thanks for all the info. $23,000 if anybody wants it. Somebody would be getting a great deal.