Re: car loan
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You answered your own question incorrectly. You're right that you want to have debt in the depreciating asset, but the reason is so that by some chance the asset becomes worth less than what you owe on it you can default.
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Reading comprehension 101 please.
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The homestead act has nothing to do with depreciation or appreciation.
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Looks like you may need an advanced class to understand my reason for including that bit of information there.
Jimbo
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