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

So me being able to pay cash for a vehicle and save money at the same is wrong?

Ok
Thanks

Please RA and have this thread deleted.

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So me being able to pay cash for a vehicle and save money at the same is wrong?

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How do you not understand that you could be saving more and actually earning more money instead of just dropping a lump sum on, like you've said 20 times, a depreciating asset?

What everyone is trying to explain to you is the concept of compounding interest and how to use it to your advantage to maximize wealth. Don't focus on the depreciating car. Focus on the funds that you're spending on the car and the opportunity cost you are giving up by paying cash.

I can't tell if you are trolling or just not there in terms of financial comprehension.

1. What’s is your trading cycle?
2. As a depreciating item, personally I choose to lease my cars.
3. Paying cash for a car has many flaws...

Always take advantage of 0% interest- PERIOD

OP. If your millionare friend can get 15% annual return on money infused in his business and get a 3% APR loan for a $40k vehicle for 5 years, he will pay ~ $3k in total interest over 5 years on the loan while doubling the money used in his business. So he nets like $37k over 5 years. Yeh, millionaires do get loans.


$40,000*($1+.15)^5

Math is tough for some people.

He’s obviously one of those people.

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you mean *fleece

those who brag about an ~700+ credit, it cost them ~100k in payments over the years.

prove me wrong.

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You're trolling at this point.

Sorry about the downvote.

They should put those arrows on opposite sides to prevent fat thunbing.

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No the rest of your incoherent garbage is the troll

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I'm the furthest person on here from incoherent...

Never had a car note.

To me, the advantage of paying cash is that it forces you to make smarter buying decisions and think about how you prioritize money.

I know that 1.9% dealer financing + $35k in a conservative investment portfolio is *most likely* going to beat paying full cash minus dealer incentives.

But I also know that writing a $6k check for a gently used old Honda that some old woman kept in a garage every night and only drove it 30 mph twice a week to church and the Piggly Wiggly is going to get me from A to B just fine for a long time. And I can do whatever I want with the surplus money - like spend it on something I enjoy far more than starring at traffic while sitting in a metal box atop four tires.

But that's just me. For others, car = life.