Author Topic: Tweet Thread (Read 3223113 times)

wing · « **Reply #10940 on:** March 20, 2015, 09:06:00 pm »

Only works with TD visa so don't waste your time.

Solstice2006 · « **Reply #10941 on:** March 20, 2015, 09:27:36 pm »

Quote from: CanuckS2K on March 20, 2015, 08:53:55 pm

My wife's 2012 Civic is into it's 37th month of it's lease and boy is the local Honda pulling out all of the stops to get us to get into another Honda. Constant voicemails, emails, and even snail mail offers. The latest email today was a 1% reduction and also a "free" 4 year 100K warranty. Wtf? Not sure what that one is all about considering their warranty is 5 year and 100k. In any case, I won't be going with Honda once the wife's vehicle is done in 11 months.

Why because they are trying too hard?

Solstice2006 · « **Reply #10942 on:** March 20, 2015, 09:28:57 pm »

Quote from: wing on March 20, 2015, 07:23:01 pm

My main bank is RBC they don't charge me anything and I like / need the convenience of a real bank (had PC for years ran into too many times where I couldn't get enough cash ASAP).

BMO holds my mortgage so I have an account with them. At one point it was a free account. Then they wanted to charge me $8 a month. I said no, they put me on a new plan, pay per transaction. I was fine with that since I don't do any transactions, the account is there so I can see my mortgage balance.

Now they want to charge me $4 a month just for that privilege. Wait, I pay you $6500 in interest a year for my mortgage and that's not enough?

You need an account to check your mortgage balance? I just login to MCAP with a user id. It tells me all the details...

CanuckS2K · « **Reply #10943 on:** March 20, 2015, 09:31:45 pm »

Quote from: Solstice2006 on March 20, 2015, 09:27:36 pm

Quote from: CanuckS2K on March 20, 2015, 08:53:55 pm
My wife's 2012 Civic is into it's 37th month of it's lease and boy is the local Honda pulling out all of the stops to get us to get into another Honda. Constant voicemails, emails, and even snail mail offers. The latest email today was a 1% reduction and also a "free" 4 year 100K warranty. Wtf? Not sure what that one is all about considering their warranty is 5 year and 100k. In any case, I won't be going with Honda once the wife's vehicle is done in 11 months.

Why because they are trying too hard?

No, just because they have nothing that interests me. I'm used to having a sports sedan and that's what I plan on getting back into.

wing · « **Reply #10944 on:** March 20, 2015, 09:35:52 pm »

Quote from: Solstice2006 on March 20, 2015, 09:28:57 pm

Quote from: wing on March 20, 2015, 07:23:01 pm
My main bank is RBC they don't charge me anything and I like / need the convenience of a real bank (had PC for years ran into too many times where I couldn't get enough cash ASAP).

BMO holds my mortgage so I have an account with them. At one point it was a free account. Then they wanted to charge me $8 a month. I said no, they put me on a new plan, pay per transaction. I was fine with that since I don't do any transactions, the account is there so I can see my mortgage balance.

Now they want to charge me $4 a month just for that privilege. Wait, I pay you $6500 in interest a year for my mortgage and that's not enough?

You need an account to check your mortgage balance? I just login to MCAP with a user id. It tells me all the details...

Right, my mortgage is with BMO so yes that's the only way to see my mortgage.

For years I didn't have an account with them so didn't know anything about my mortgage unless I called them. So I got an account for something at one point and don't want to lose the ability, but I'm not going to pay $50 a year just for that.

wing · « **Reply #10945 on:** March 20, 2015, 09:38:06 pm »

Maybe I should just pay off my mortgage and not worry about it lol

I just need to find $300k

Solstice2006 · « **Reply #10946 on:** March 20, 2015, 09:39:53 pm »

Maybe use it as a savings account. Varies bank to bank, but if you have like $2000 in there, no service fees... Call Retention!

wing · « **Reply #10947 on:** March 20, 2015, 09:44:58 pm »

Sure can have the account for $0 if I put $1500 in there. And they will pay me 0.00001% interest.

It's the principle, why should I invest my money for them to make money on? I can make much more with my $1500

Bubba · « **Reply #10948 on:** March 20, 2015, 10:00:43 pm »

Trying to decide where to go for a day trip on Saturday.

HeliDriver · « **Reply #10949 on:** March 20, 2015, 10:59:40 pm »

Quote from: wing on March 20, 2015, 09:35:52 pm

Quote from: Solstice2006 on March 20, 2015, 09:28:57 pm
Quote from: wing on March 20, 2015, 07:23:01 pm
My main bank is RBC they don't charge me anything and I like / need the convenience of a real bank (had PC for years ran into too many times where I couldn't get enough cash ASAP).

BMO holds my mortgage so I have an account with them. At one point it was a free account. Then they wanted to charge me $8 a month. I said no, they put me on a new plan, pay per transaction. I was fine with that since I don't do any transactions, the account is there so I can see my mortgage balance.

Now they want to charge me $4 a month just for that privilege. Wait, I pay you $6500 in interest a year for my mortgage and that's not enough?

You need an account to check your mortgage balance? I just login to MCAP with a user id. It tells me all the details...

Right, my mortgage is with BMO so yes that's the only way to see my mortgage.

For years I didn't have an account with them so didn't know anything about my mortgage unless I called them. So I got an account for something at one point and don't want to lose the ability, but I'm not going to pay $50 a year just for that.

What do you need to see?

I have a mortgage with TD, but no account with them. Yes, if I want to pay extra one month or something I'd have to go down to the branch, but so far that's never happened.

I know what my payment is each month, and roughly how much goes to interest and principal, so what more is there to know?

wing · « **Reply #10950 on:** March 20, 2015, 11:03:52 pm »

BMO has a mortgage cash account as well that keeps track of any extra money you put in there.

I like to track my finances and so I like to see that balance, at least monthly.

HeliDriver · « **Reply #10951 on:** March 20, 2015, 11:09:37 pm »

I guess I don't understand. Doesn't any extra money you put in just go straight to paying down the principal?

Snowman · « **Reply #10952 on:** March 21, 2015, 09:25:30 am »

Quote from: CanuckS2K on March 20, 2015, 09:31:45 pm

Quote from: Solstice2006 on March 20, 2015, 09:27:36 pm
Quote from: CanuckS2K on March 20, 2015, 08:53:55 pm
My wife's 2012 Civic is into it's 37th month of it's lease and boy is the local Honda pulling out all of the stops to get us to get into another Honda. Constant voicemails, emails, and even snail mail offers. The latest email today was a 1% reduction and also a "free" 4 year 100K warranty. Wtf? Not sure what that one is all about considering their warranty is 5 year and 100k. In any case, I won't be going with Honda once the wife's vehicle is done in 11 months.

Why because they are trying too hard?

No, just because they have nothing that interests me. I'm used to having a sports sedan and that's what I plan on getting back into.

Oh boy....this is going to be a fun 11 months

Solstice2006 · « **Reply #10953 on:** March 21, 2015, 09:40:01 am »

Quote from: CanuckS2K on March 20, 2015, 09:31:45 pm

Quote from: Solstice2006 on March 20, 2015, 09:27:36 pm
Quote from: CanuckS2K on March 20, 2015, 08:53:55 pm
My wife's 2012 Civic is into it's 37th month of it's lease and boy is the local Honda pulling out all of the stops to get us to get into another Honda. Constant voicemails, emails, and even snail mail offers. The latest email today was a 1% reduction and also a "free" 4 year 100K warranty. Wtf? Not sure what that one is all about considering their warranty is 5 year and 100k. In any case, I won't be going with Honda once the wife's vehicle is done in 11 months.

Why because they are trying too hard?

No, just because they have nothing that interests me. I'm used to having a sports sedan and that's what I plan on getting back into.

Would the Acural TLX fit the bill? By the time lease is up, the Cadillac CT6 will be out with the new V6!

wing · « **Reply #10954 on:** March 21, 2015, 09:42:18 am »

Quote from: HeliDriver on March 20, 2015, 11:09:37 pm

I guess I don't understand. Doesn't any extra money you put in just go straight to paying down the principal?

It does. But you can also take it back out without incurring extra cost or interest. So I use it as a bank account. Drop $10k in, then if I want to buy something I can take it out.

HeliDriver · « **Reply #10955 on:** March 21, 2015, 12:34:30 pm »

Quote from: wing on March 21, 2015, 09:42:18 am

Quote from: HeliDriver on March 20, 2015, 11:09:37 pm
I guess I don't understand. Doesn't any extra money you put in just go straight to paying down the principal?
It does. But you can also take it back out without incurring extra cost or interest. So I use it as a bank account. Drop $10k in, then if I want to buy something I can take it out.

My first thought was that that is a dangerous idea: treating your mortgage as a spending account.

But on second thought, I think it's really smart. I have a chunk of cash (emergency fund, if you will) that's just been sitting in an account earning 1.35% for years. Would have been way smarter to put that money against the mortgage at 2.9%, knowing that I could pull it out easily and with no fees if that emergency ever happens.

I wonder if my TD mortgage has a similar feature? Will have to look into this.

pi314 · « **Reply #10956 on:** March 21, 2015, 12:39:26 pm »

It also sounds like $50/year is worth it for that feature. (If the bank refuses to give you a no-fee account)

You'll probably save more than that in interest if you don't spend everything extra you put in. Is this BMO-specific?

wing · « **Reply #10957 on:** March 21, 2015, 12:47:26 pm »

Others have this feature I believe. BMO is very easy to access though.

johngenx · « **Reply #10958 on:** March 21, 2015, 12:47:56 pm »

The dealer that sold us the Corolla occasionally contacts us about trading it in. The last month or so they've been unusually aggressive about it.

They sent us a letter offering retail value for our trade. Since the missus does like the new RAV I stopped in just out of curiosity. They ballparked the trade in value at $2k. Really? That's retail? They have an identical car on their lot asking $10K.

"We could give you $1K off a new RAV as well." So basically I pay full price and get $3K for a car I could sell in minutes for $8K.

Am I surprised? Not at all. My experience is that trading costs at least $5K compared to selling.

I do wish they wouldn't lie by saying they're going to pay retail for a trade. I get that dealers make money on used cars (way more than new ones) and just be honest about it. Cripes.

Sent from my iPhone using Tapatalk

HeliDriver · « **Reply #10959 on:** March 21, 2015, 01:28:46 pm »

Quote from: pi314 on March 21, 2015, 12:39:26 pm

It also sounds like $50/year is worth it for that feature. (If the bank refuses to give you a no-fee account)

Or he could just keep $1,500 in the account and pay no fee. That's the way I'd go: you're still saving the mortgage interest (the $1,500 is still considered as repayment of principal, if I understand this right) and you also save the $50 fee.

So your $1,500 cash in the account is actually "earning" you 5 or 6% interest. Sounds good to me.