re: I have never had a car payment; have you?

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I am not unrealistic I drive a 6 year old vehicle, my wife drives a four-year-old vehicle, my daughter drives a four-year-old vehicle all pay with cash and all will last a very long time. In the meantime we are stockpiling cash for our next vehicles.

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And you wouldn’t invest that money because?



The difference between throwing money at a mutual fund earning ~8% every year and car note financed at >4% for a few years becomes quite profound over time.

Made worse by the fact that you are somewhat undercutting yourself bargaining for the car. They’ll be less likely to move that last little bit without the numbers being driven to the finance department.

When your credit score is in the 800s its probably better to have a car payment.

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Why?

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I think it is unlikely that I will have cash on hand for a $25k-$35k new to me truck, so I will finance.

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Ask any millionaire if they've ever had a car note? Or borrowed money to build wealth.

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Uh..wat... you need to be the one to go ask this question because pretty much every single one will say yes.

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When you get tired of living paycheck to paycheck and being broke, come find me.

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Just because you can get what is essentially free money and pay it off over time doesn’t mean you live paycheck to paycheck.

My wife and I had enough money to pay for our new car up front, but that would have significanlty depleated our savings account (not investment account). Having just built a house and having two young children it just made sense to keep the cash on hand in case and use low interest rates to pay off the vehicle over time.

Now we still have the cash in hand and we are paying more than just the note and further cutting into the principle, reducing the amount of extra money we will pay.

I’m slowly learning that there are very few absolutes in this world, so to say it never, ever makes sense to finance is pretty ill-informed/uneducated.

Mafukka, i could come pay cash for all your cars tomorrow

He means plant operator millionaires that saved all their lives to accumulate a million dollars

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Pssst:
Your new vehicle depreciated the second you drove it off the lot.

I choose to pay cash for the vehicles I drive.

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Cool? Doesn't mean that you're financially smarter than others. Why would you not take a super low loan rate then use the cash in the market?

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I'll help you when when you need it most.

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You're right, you did help me as well as other posters here... We'll know that you're a poser sitting atop a drunk high horse attempting to be an authority on something you're not...

These broad generalization threads are really, really dumb. There are a ton of times where it makes far more sense to finance than pay for a car outright.