chrisaukcam
Recycles dryer sheets
- Joined
- Jan 23, 2011
- Messages
- 57
So the plan originally was to buy a gently used truck to pull a travel trailer and travel a bit when we retire in February. The stocks rallied well in spring of 2018 and so I saw that we had made enough to buy a new truck from those gains, so that was put aside to make a cash purchase after retirement.
So I was looking at incentives on new vehicles. I saw that they have 0% financing and with my credit rating I should qualify. If I could get like a 3 year loan at 0% interest, then I can make a little extra if I put the money into CD's and cash them as needed for payments.
Then I got to thinking that with me retiring next month that I won't have a job and even though I will be making withdrawals from my 401k for living expenses, I don't know how that income is treated when doing a loan. I am guessing that others have gone down this path - how would this work with just passive income?
Finally I got to thinking, I could make the purchase here January - while I am still working so technically I can put down my current income, etc. It would be a bit devious to do this way, that could be an option if I would not qualify otherwise.
So I was looking at incentives on new vehicles. I saw that they have 0% financing and with my credit rating I should qualify. If I could get like a 3 year loan at 0% interest, then I can make a little extra if I put the money into CD's and cash them as needed for payments.
Then I got to thinking that with me retiring next month that I won't have a job and even though I will be making withdrawals from my 401k for living expenses, I don't know how that income is treated when doing a loan. I am guessing that others have gone down this path - how would this work with just passive income?
Finally I got to thinking, I could make the purchase here January - while I am still working so technically I can put down my current income, etc. It would be a bit devious to do this way, that could be an option if I would not qualify otherwise.