More Money

A recent article in the Wall Street Journal reports that people with higher credit scores have shorter-terms for their auto finance. You know? They have more money. They can either pay more upfront or take on a larger monthly payment. The same article reports that consumers with longer terms spend more of their income on monthly payments. That would be true even if the payments are lower than the shorter-term financing, because again, they have less income.

The rich are different than you and me. They have shorter finance terms.

Last modified on Tuesday, 12 June 2018 15:45