ilmscore | Watch This To Save Money On Car Loans

Watch This To Save Money On Car Loans

Published: 2022-10-17
Status: Available | Analyzed

Predictions from this Video

Total: 4
Correct: 0
Incorrect: 0
Pending: 4
Unrated: 0
Prediction
Topic
Status
Effective interest rate on electric vehicle loans is around 5.8% after tax benefits.
"for electric vehicles the interest rates are around 8% and after tax benefits and all the effective interest rate comes down to 5.8%"
Electric Vehicle Loan Prepayment
Pending
If an individual can achieve over 6% returns on investments over a 5-year period, they should not prepay their electric vehicle loan.
"if I'm able to get more than 6% returns over a 5e period I should not prepay this loan"
EV Loan Prepayment Strategy
Pending
Salaried individuals should prepay combustion vehicle loans due to higher interest rates and lack of tax benefits.
"combustion vehicles have slightly higher interest rates and no tax benefits so salar people should prepay as much as possible"
Combustion Vehicle Loan Prepayment Strategy
Pending
Self-employed and business individuals in the 30% income bracket should not prepay car loans due to tax benefits from interest expense and depreciation.
"for them it is crazy you know they can claim both interest expense and depreciation of the car to reduce the tax so if they are in the 30% income bracket they should not prepay that loan"
Business Vehicle Loan Prepayment Strategy
Pending