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Posted on 11/25/17 at 11:54 am to lsu xman
I’d never buy something that expensive. I like my money too much. I also finance the shite out of my car. At 1.9%, why pay cash. I can invest my cash in higher returns.
Posted on 11/25/17 at 11:55 am to eScott
quote:
Why pull money from an investment that you're making 20% on. Who cares how much the payment is, what's the % rate.
Yep, if you can make more than the loan percentage you are being offered, why pay cash?
Posted on 11/25/17 at 11:57 am to lsu xman
Woke
Posted on 11/25/17 at 11:57 am to eScott
quote:
Why pull money from an investment that you're making 20% on. Who cares how much the payment is, what's the % rate.
Some people have this irrational fear that financing a depreciating asset is somehow worse than dumping their cash into the same depreciating asset.
They have no concept that financing is just a fee to keep your cash and has nothing to do with the asset. At least if you are buying within your means. To many,especially those with good credit, the financing fee is minimal over 5 years and worth it. I have a high interest checking account that yields 2%. Why would I pay cash for a vehicle when I get interest rates for financing at 1.9%??? And if I bring home 15k+ a month (just an example), why would a high note be a problem?
Posted on 11/25/17 at 12:05 pm to lsu xman
No, but I haven't had a car note in 20 years.
Posted on 11/25/17 at 12:10 pm to lsu xman
thats why they offer 72 and even 84 month notes now
when idiots finally get smart and refuse to pay $50k-$6ok for trucks or even $40k for the base economy model
then they will return to prices in the $25-$30k range
but "muh" status symbol, look how much i paid for my cool truck
when idiots finally get smart and refuse to pay $50k-$6ok for trucks or even $40k for the base economy model
then they will return to prices in the $25-$30k range
but "muh" status symbol, look how much i paid for my cool truck
Posted on 11/25/17 at 12:10 pm to dcrews
quote:cuz that's what grandpappy told me in 1964!
Yep, if you can make more than the loan percentage you are being offered, why pay cash?
Posted on 11/25/17 at 12:13 pm to lsu xman
my car not was $750 a month, plus twice a year, it was nearly $1100, because it was auto-deducting out of my pay check. I get paid every two weeks, so two months a year, I get paid three times a month.
I refinanced it after knocking $10K off the balance, now its just under $500 a month at the same rate (1.8%)
I refinanced it after knocking $10K off the balance, now its just under $500 a month at the same rate (1.8%)
Posted on 11/25/17 at 12:14 pm to lsu xman
I get single cab work trucks bc I am poors or cheap
Posted on 11/25/17 at 12:17 pm to lsu xman
I refuse to do it. I started out buying cheap cars, cash. It lets me do this amazing thing called saving, and now I can buy nicER cars cash.
Posted on 11/25/17 at 12:19 pm to dcrews
quote:
Yep, if you can make more than the loan percentage you are being offered, why pay cash?
Because reality is different. Nearly everyone who says these things don't have the cash to invest, or purchase the vehicle in the first place. Maybe you're a unicorn.
Posted on 11/25/17 at 12:26 pm to GreatLakesTiger24
This is where the OT brags about poor financial decisions
Posted on 11/25/17 at 12:27 pm to NIH
If you’re paying $700+ on your lease, then you should be able to afford to pay cash for your vehicle. If you can’t pay cash, then that’s just a dumb financial decision and you should drive something cheaper until you’re able to pay cash.
Posted on 11/25/17 at 12:29 pm to AbitaFan08
why pay cash when 0%-very low APR is available?
Posted on 11/25/17 at 12:32 pm to lsu xman
Ford is offering 0% for 72 months. Udumb
Posted on 11/25/17 at 12:33 pm to GreatLakesTiger24
Well, in general leasing a vehicle sucks. I did it one time. Never again, it was foolish.
Second, typically you can get a better price on a vehicle when you’re a cash buyer.
Third, most financial advisors would tell you to minimize risk and monthly occurring payments where possible. If something drastic in your life happens and you’re on the hook for a $700+ lease per month, you’re up a creek. If you paid cash, then worst case scenario you can sell the vehicle and buy something cheaper.
I know, nothing bad ever happens to people on the OT (especially when it comes to finances) but it’s something that other people should consider when making a large purchase.
Second, typically you can get a better price on a vehicle when you’re a cash buyer.
Third, most financial advisors would tell you to minimize risk and monthly occurring payments where possible. If something drastic in your life happens and you’re on the hook for a $700+ lease per month, you’re up a creek. If you paid cash, then worst case scenario you can sell the vehicle and buy something cheaper.
I know, nothing bad ever happens to people on the OT (especially when it comes to finances) but it’s something that other people should consider when making a large purchase.
Posted on 11/25/17 at 12:39 pm to AbitaFan08
quote:
Second, typically you can get a better price on a vehicle when you’re a cash buyer. Third, most financial advisors would tell you to minimize risk and monthly occurring payments where possible. If something drastic in your life happens and you’re on the hook for a $700+ lease per month, you’re up a creek. If you paid cash, then worst case scenario you can sell the vehicle and buy something cheaper.
False. They WANT you to finance.
If you didn’t pay cash for the car, you’d have that same cash available for said emergency.
Posted on 11/25/17 at 12:41 pm to lsu xman
Scary how expensive vehicles have become.. gonna nurse the two we have
This post was edited on 11/25/17 at 12:42 pm
Posted on 11/25/17 at 12:43 pm to eScott
Exactly....makes no sense whatsoever
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