- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: People who think they are smart because they pay cash for their cars
Posted on 11/27/17 at 3:29 pm to Street Hawk
Posted on 11/27/17 at 3:29 pm to Street Hawk
quote:
Your guys need to look up this Finance 101 concept called 'Time Value of Money'.
Sounds like you need to look up “risk”. Debt adds to risk.
quote:
If you can finance the car at a rate that's lower than what you typically make out of your investments, you should choose to finance instead of paying cash, even if you can afford to pay for the car fully using cash.
My car note is 0.00. Every month, my car note is the same 0.00.
Why? Because I paid C A S H.
My only debt is my house.
2
Posted on 11/27/17 at 3:34 pm to Supermoto Tiger
There is no one size fits all way to handle finances, and there are certainly advantages to paying cash for a car..... but why do people keep saying “I have a $0 note!!!!” as some kind of argument winner? You already paid full value for something that a person who finances gets to spread over multiple years. Paying for things sooner isn’t something to brag about in isolation.
Posted on 11/27/17 at 3:35 pm to Street Hawk
Dave's problem isn't just the finance charges. It's the depreciation hit on a new car. And he's right.
This post was edited on 11/27/17 at 3:42 pm
Posted on 11/27/17 at 3:38 pm to TigerCoon
I mean the new car issue is a bit different than the “how to pay for a vehicle” issue.
Posted on 11/27/17 at 3:46 pm to Supermoto Tiger
quote:
My car note is 0.00. Every month, my car note is the same 0.00.
Why? Because I paid C A S H.
My only debt is my house.
What a totally useless and pointless post. I bet you are one of the folks Dave Ramsey's made his fortune off of. There are some truly awful posts in this thread and this is one of them.
Posted on 11/27/17 at 5:57 pm to euphemus
People who can afford to do so, do so to avoid the hassle of monthly car notes and reduce insurance and vehicle costs. Then there are people like you who choose the hassles and higher costs. There is gratitude in being debt free, and I never listened to Ramsey.
Posted on 11/27/17 at 6:20 pm to kc8876
quote:
You look it up, I already said I wasn’t going back and forth posting articles, I don’t care enough
Lol he actually backed up his stats but you refuse to
The funny thing is in this thread we have people who claim that it's idiotic to pay for something because they 100% can make more than that investing....yet that includes the bank being "stupid" with that much cash on hand giving it to the borrower for that "low" rate of return
The borrower is the slave to the lender
Posted on 11/27/17 at 9:37 pm to Adam Banks
quote:
Lol he actually backed up his stats but you refuse to
I didn’t refuse to do anything, I told him before he sent that that I wasn’t going back and forth posting articles that I already know he’s read that say what the average is
quote:
The funny thing is in this thread we have people who claim that it's idiotic to pay for something because they 100% can make more than that investing....yet that includes the bank being "stupid" with that much cash on hand giving it to the borrower for that "low" rate of return
The borrower is the slave to the lender
So the bank loaning someone money that doesn’t need it because they are financially secure is a reason for a person to not use it to their advantage because the bank will get a low rate of return?
Don’t answer that, because you have no idea what you’re talking about
Posted on 11/28/17 at 6:22 am to Street Hawk
quote:
You do realize interest goes both ways, i.e you can also make interest on the money you invest?
Over 5 year loan though?
Posted on 11/28/17 at 6:36 am to Nawlens Gator
quote:
hassle of monthly car notes
There is this thing called auto-pay. It works wonders.
Posted on 11/28/17 at 6:39 am to Adam Banks
quote:
100% can make more than that investing....yet that includes the bank being "stupid" with that much cash on hand giving it to the borrower for that "low" rate of return
Anyone who says something is “100%” is wrong. At the same time, the bank’s economics aren’t the same as an individual’s. Just like with credit cards, a decent part of their upside is actually the people that default.
quote:
The borrower is the slave to the lender
This is stupid. Every significantly sized company in the world has debt on their books. I guess they are all stupid too?
Posted on 11/28/17 at 6:55 am to CorporateTiger
I'm not sure if this has been covered, but the only thing I'll add is that if you have two recurring payments, house and car loans, and you want to pay off one, do so on the car.
The house loan is tax deductiblw, whereas the car loan is not.
The house loan is tax deductiblw, whereas the car loan is not.
Posted on 11/28/17 at 8:26 am to East Coast Band
I'm willing to bet that every single person in this thread who has written " I pay cash for my cars " is either
A) A liar
or
B) A person who has never owned a car worth more than $2500.
I mean the average American couldn't even come up with $1000 in cash with 24 hours notice, but we're to believe that nigh on 30% of OT posters buy new cars with cash? Come on.
A) A liar
or
B) A person who has never owned a car worth more than $2500.
I mean the average American couldn't even come up with $1000 in cash with 24 hours notice, but we're to believe that nigh on 30% of OT posters buy new cars with cash? Come on.
Posted on 11/28/17 at 8:36 am to HeyHeyHogsAllTheWay
quote:
I'm willing to bet that every single person in this thread who has written " I pay cash for my cars " is either
A) A liar
or
B) A person who has never owned a car worth more than $2500.
I mean the average American couldn't even come up with $1000 in cash with 24 hours notice, but we're to believe that nigh on 30% of OT posters buy new cars with cash? Come on.
...and apparently are some of the smartest hedge fund managers around with an annual return north of 20% repeatedly with zero downside risk.
Have an upvote, sir.
This post was edited on 11/28/17 at 8:37 am
Posted on 11/28/17 at 8:38 am to Janky
quote:
...and apparently are some of the smartest hedge fund managers around with an annual return north of 20% repeatedly with zero downside risk.
I thought my 3% return was reasonable
Posted on 11/28/17 at 8:42 am to Janky
quote:
.and apparently are some of the smartest hedge fund managers around with an annual return north of 20% repeatedly with zero downside risk.
Have an upvote, sir.
Of course they also average 6'4 226 lbs , run a 4.3 40 and have an average IQ of 158, so there's that............
and right back at you with the upvote.
Posted on 11/28/17 at 11:05 am to HeyHeyHogsAllTheWay
quote:
I'm willing to bet that every single person in this thread who has written " I pay cash for my cars " is either
A) A liar
or
B) A person who has never owned a car worth more than $10,000.
Fify. Thats just me though.
Posted on 11/28/17 at 11:37 am to HeyHeyHogsAllTheWay
quote:
I'm willing to bet that every single person in this thread who has written " I pay cash for my cars " is either A) A liar or B) A person who has never owned a car worth more than $2500.
I couldn't always do this but now I can so I do. Maybe I'm a little further on in life than you?
quote:
I mean the average American couldn't even come up with $1000 in cash with 24 hours notice, but we're to believe that nigh on 30% of OT posters buy new cars with cash? Come on.
This is true. The average American is very stupid. Do you count yourself among them? I don't.
Posted on 11/28/17 at 11:42 am to arkiebrian
quote:
I couldn't always do this but now I can so I do. Maybe I'm a little further on in life than you?
NO ONE believes you are buying new cars and paying cash.
I retired from the military at age 42 with a nice retirement package. I'm not even a little bit worried about whether you are "further along in life" than I am. I am concerned , however, about your need to lie on anonymous message board, and my fear is that your next step is a complete psychotic break which results in yet another push to take away MY guns.
Posted on 11/28/17 at 11:45 am to HeyHeyHogsAllTheWay
ok buddy
Sorry things are so rough for you.
Sorry things are so rough for you.
Page 10 of 11
Popular
Back to top
Follow TigerDroppings for LSU Football News