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Your 4% interest car loan is actually 2 times more expensive than your 4% house loan, let me present you why
Say you’re taking a 500k 10 12 months car loan at 4% for a Mercedes, you pay this a lot each month,
Compare this to 500k 10year house loan additionally at 4%, you pay this a lot a month
Your 4% yearly interest for the car is at a flat 20k yearly While your 4% yearly interest for the house loan is solely 17.7k for the first 12 months
Then it will get progressively decrease for a complete of 107k interest paid to banks after 10 years Whereas for the car, whole interest paid is 200k for a similar interval
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