Debit vs. Credit Cards

[KennyG]

We've been through this before. There are two kinds of low interest financing. One is fully provided by the manufacturer. It doesn't make any difference to the dealer whether you finance or pay cash. The other requires "dealer participation" and then the dealer can knock some off the price if you pay cash. Just ask the dealer and he will tell you which it is. (Auto dealers are required to disclose if there is dealer participation but for some reason, tractor dealers don't seem to be.)

 

[Torvy]

We've been through this before. There are two kinds of low interest financing. One is fully provided by the manufacturer. It doesn't make any difference to the dealer whether you finance or pay cash. The other requires "dealer participation" and then the dealer can knock some off the price if you pay cash. Just ask the dealer and he will tell you which it is. (Auto dealers are required to disclose if there is dealer participation but for some reason, tractor dealers don't seem to be.)

Dealer Participation is about the interest rate. In the 'auto' world, that means the dealer gets up to 2% of additional interest rate. The dealer would have zero interest in taking cash when he could make more participating in the loan.

There is another form of low interest that most people cannot wrap their heads around because it means looking at the portfolio beyond one deal. Banks and other financial institutions must balance their portfolio with low risk to offset high risk. High risk makes the money, low risk keeps the auditors happy. Lenders offer zero (or below market) rates to people who don't need the loan, but have excellent credit.

At the end of the day, while it is true there is no such thing as a free lunch, many of us can pay a lot less if we take those 'free' deals.

 

[tallyho8]

I have several credit cards that I use for special purposes. One card is for gas purchases and restaurants. It gives me 5% back on gas and 3% on restaurant purchases. Another one is for groceries and gives me 2% back. Another is for travel and gives me 3% back. Another is for Home Depot, Lowes and Office Depot and gives me 3% back. I have a Paypal Debit card that I use for everything else. It can be used for debit with your pin number or for credit with the money coming right out of your account either way. I only use it for credit because I get 1 1/2% back using it that way. I have never paid 1 cent of interest or fees for any of these cards as I pay everything off monthly.

I try not to be judgmental but there is no way I would hand my credit card to someone who looks like this, period.

 

[goeduck]

Okay, I will be judgmental. HOLY CARP!

 

[Jstpssng]

I understand where you guys are coming from. However, 40 years ago my parents never would have trusted a guy wearing his hair in a ponytail.

 

[jyoutz]

I understand where you guys are coming from. However, 40 years ago my parents never would have trusted a guy wearing his hair in a ponytail.

George Washington wore a ponytail.

 

[two_bit_score]

Okay, I will be judgmental. HOLY CARP!

That shade of orange really bothers me too.

 

[two_bit_score]

I understand where you guys are coming from. However, 40 years ago my parents never would have trusted a guy wearing his hair in a ponytail.

Say whatever you want but I hope we never get to the point that tats like that on someones face is a sign of trustworthiness.

 

[lman]

I guess his ears are off-limits.

 

[goeduck]

I guess his ears are off-limits.

Yes, why not more tats on his ears and while they are at it on the whites of his eyeballs. His nose has some room for more expression. Freaky, Creepy.