Quote:
Originally Posted by Tsar
hate to break this to you but the notion of credit is really popular only in US, and countries in Europe. The rest of the world, not so much. I know when I lived in Russia there was no "finance" a car, or "lease" one for that matter. You wanted to buy an S600, you better bring 150-200k in CASH to the dealer.
If you dabble in real Estate in US, and run into some Russians you will quickly find out that they like to deal with cash, no silly mortgages, plus stuff is more negotiable when you deal with cash.
That China bit doesn't surprise me one bit.
|
This is an excellent point. The only "good" thing I can think of concerning credit is refinances. My parents bought a house, refinanced it, and used that "cash" to invest in a business that profits more than the refinanced mortgage has in interest.
I dabble in the stock market for the purpose of saving up for a house. I want to finance as little as possible.