Good debt can be those that you need, but cannot pay for it at the moment. Cars and homes can be a good investment since you need a place to live and way to get to and from work. Financing a car can also be good if you plan on keeping it as long as it is running. Some simple ways to get good debt is finding the lowest interest rate you can find. Most mortgages have low interest rates and you can take out a home equity loan to pay for a car because the interest rate is lower compared to an auto loan and the interest is tax deductible.
October 30, 2009
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