Savings and getting a loan

Discussion in 'Monetizing' started by Fast-Sincere, Jan 23, 2017.

  1. Fast-Sincere

    Fast-Sincere New Member

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    Nov 23, 2016
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    I'm sure each one of us would like to save for our future and we work to earn for a living. But, the thing is , in my case, I'm getting a vehicle loan for our business. Its because, it is a necessity. I do not want to get all our savings and income. What do you think? Is it advisable to borrow from banks? Did you ever tried getting a loan for the sake of your business? I need to hear your advice.
     
  2. Lengend~

    Lengend~ Member

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    Dec 22, 2013
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    If you know you can pay it back in time go for it. If can't pay it back in time or don't pay it back you'll have bad credit.
     
  3. Eleonore Westphal

    Eleonore Westphal New Member

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    Jan 25, 2017
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    I more than agree! It's hard to pay a loan when you have nothing to pay for it. Banks sometimes have higher interest rate. My brother loaned from other institution, not a bank.
     
  4. Lengend~

    Lengend~ Member

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    You really 42 or that's just a random age? The loans I hate the most are student loans.
     
  5. Fast-Sincere

    Fast-Sincere New Member

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    Nov 23, 2016
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    Thanks for the input. Well, I agree that bank rates higher compared to private financial companies. I have inquired about loans on auto purchase of second hand cars and brand new as well. The terms and interest rates is good but, the down side is, they are the one who is suggesting where to get the vehicle. Partnership?Most definitely.