BMW R18

[the Ferret]

Sound answers all tommymck

[Cormanus]

Thank you, teacher. That is clear and helpful. Paul Simon's observation, "When numbers get serious, they leave a mark on the door" has always resonated with me.

So here's the plan: I'm going to lay out $21,476 to import a CB1100 RS from Japan. I could pay cash but the dealer will take $20,000 if I finance it through their usurer at an outrageous 3%. As the Bank of Stichill is offering me 5.98% on my meagre savings, I'm going to take the finance. As one balance goes down, the other goes up and I should actually be a tad shy of $1,900 cash in front at the end of it all.

Except, I woke up and I'd been dreaming.

Apropos of nothing at all, my monthly credit card statement once told me that if I incurred no further charges on the card and paid only the minimum monthly payment, it would take me 'more than 83 years 3 months' to pay it off and total interest would be 'more than $106,197,608.00'.

[the Ferret]

[Stichill_imp]

It's always about six of one, half dozen of the other when it comes to a 0% interest rate vs. a lower price for cash.

Oh yes, the credit card companies are more than happy to let you maintain your principal balance and pay usurious interest in perpetuity. My approach is to get a no-fee cash rewards credit card and pay the balance in full each month. The nice thing about credit cards: if there's fraud, it's their dime that was stolen, not yours. Whereas fraud on your debit card could drain your entire bank account, leaving you standing out in the cold.

[Cormanus]

Yes, that's my strategy too, Stichill. I think the notice was a terrible mistake in their system. They've never acknowledged it. When I worked it out on their numbers, I don't think I'd ever have paid it off.

[LongRanger_imp]

I’d jump on that Bank of Stichill 5.98% offer, but deposits at his institution aren’t covered by the FDIC. Instead, I think my cash would be siphoned off to the Stichill Charitable Foundation (aka the Stichill Motorcycle Fund), never to be seen again. Cormanus, FDIC is similar to the FCS in your fair country.

[Cormanus]

When I looked up FCS Google said it was a Fin Control System for surfboards. I looked further. In light of your advice, I might have to resort to the original plan and pay cash. It's a pity after the headache I gave myself working it all out.

[Stichill_imp]

I’d jump on that Bank of Stichill 5.98% offer, but deposits at his institution aren’t covered by the FDIC. Instead, I think my cash would be siphoned off to the Stichill Charitable Foundation (aka the Stichill Motorcycle Fund), never to be seen again. Cormanus, FDIC is similar to the FCS in your fair country.

Shhh!