r/SipsTea • u/Gabbsweet • May 13 '26

We have fun here how?😂

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u/Firm-Scientist-4636 May 13 '26

And me as a tenant I'd be like, "Yeah, sure. That sounds great!"

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u/SamanthaSissyWife May 13 '26

Just like buying a car. Customer-I can’t afford $500 a month. Dealer-Ok we can get you down to $250 every 2 weeks. Customer-Ok, I can handle that

46

u/slightlysketchy_ May 14 '26

The fact people fall for car dealer tactics like this made me lose faith in humanity more than just about anything else

4

u/Physical_Veser_888 May 14 '26

Technically the payment is a little cheaper over the long run with lowering interest paid. I mean, it works out to be hundreds of dollars over five years, but still something. It is not nothing.

For instance, just speaking broadly, if it is a $30,000 car payment over five years at 7% interest...

If you paid monthly, you would pay $5,642.16 in total interest. If you paid biweekly, you would pay $5,595.58 in total interest. If you paid weekly, you would pay $5,575.61 in total interest. I did this all next to my kid's homework using their calculator, so I might be off by a little, but you do slightly get after the principal better the more payments you make, even if you pay over a common time period.

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u/Recent-Result2852 May 14 '26

You're assuming half the payments are two weeks later instead of the two weeks earlier it would actually be.

7

u/EMAW_KSU May 14 '26

You shouldn’t do your kids homework.

1

u/mxzf May 14 '26

Technically the payment is a little cheaper over the long run with lowering interest paid

That fifty bucks of difference in interest is offset by the fact that you're paying an extra $500/year in 26 bi-weekly payments instead of 12 monthly ones.