re: Bad credit auto loan, big down payment

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I was once your age and wished somebody would have given me the advice that I am trying to give to you.

Contrary to what I have posted and how you have interpreted it, I'm happy that you can "afford" this vehicle. But what happens, god forbid, if you suffer a life changing event that takes away your ability to earn an income? What happens if your company decides to close up shop one day, without you having a clue that this was about to happen?

Instead of financing a vehicle for $30 to $35K, why don't you take that money that you have to pay cash and buy a used 3 to 4 year old vehicle and start paying yourself back in the amount of $30 - $35K over next 60 months?

What would you rather? A truck that you'll want to get rid of in 5 years that will be worth less than 1/2 of what you paid for it, because you're 22 and your style and perhaps relationship (family - think house, life insurance, child's needs, etc.) situation will change or at a minimum $35K in investments that are working for you? What do you think will offer more security to your spouse? A 5 year old + truck or a fully funded emergency fund?

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