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re: What’s your car payment?
Posted on 2/28/19 at 12:39 pm to BigB0882
Posted on 2/28/19 at 12:39 pm to BigB0882
quote:
That is fine and dandy but I got my vehicle financed at 0% interest. Why would I give them all the money up front when I can keep it and let it make me money and just pay them $500 a month? In this scenario, it wouldn't be wise to pay it all in cash.
That's assuming you make money. Borrower is slave to the lender. A car should be a small portion of your world, not an expense worth going into debt for.
1
Posted on 2/28/19 at 1:10 pm to Ostrich
quote:
Borrower is slave to the lender
Maybe if you are buying out of your means. That's a different argument. No one should buy a car that's beyond their means. No one should be living paycheck to paycheck to sweating it to payoff their car note. Not knocking if you have to do that just to drive to work or something, but obviously get the lowest note possible.
If you have more than enough on hand to payoff the car at any time, you are in no way a "slave to the lender". You control that situation. You can pay off at any time you want and walk away. You are merely using that debt to your best interest, which is increasing your net worth and being prepared for emergencies.
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