Personal loan from bank- advice

bris

If your really rich you get a black card that has no limits.


But yes really ricj people still use finance on almost everything as they don't like using their bank balance to buy things out right.

MinuteNoodles

bris said:

But yes really ricj people still use finance on almost everything as they don't like using their bank balance to buy things out right.

Is the wrong answer. The only time they do this is when the interest rate on the debt is lower than the ROI. 
Warren Buffet, one of the world's most successful investors, has no debt, runs around in modest cars. In fact the really rich actually live quite modest lifestyles as you don't get to be rich by blowing your money. The ones you see on Youtube tend to be plastic millionaires, their lifestyle is funded by debt.

Dr_Crypto

I guess rich people are a hetrogenous group. I don't know any truly rich people but I know plenty on £200-300k and most of them have some debts. It seems a bit odd that someone on say £300k can't borrow £100k.