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If the engine ever blows up, I'll spend the dough and have a new engine put in it; that will probably cost $4000 or so.
I didn't know people actually financed cars until I was already pretty advanced in age.
clambo says
I didn't know people actually financed cars until I was already pretty advanced in age.
Unless you are a kid just starting out, no one should need to finance a car. If you need financing, you are buying something you cannot afford, especially if it is a 5+ year loan.
Eh. I can make more with my cash investing instead of a car. So I finance the car and invest cash and generally get double the interest rate on the loan. Sometimes tax free.
WookieMan says
Eh. I can make more with my cash investing instead of a car. So I finance the car and invest cash and generally get double the interest rate on the loan. Sometimes tax free.
Around here, a credit union gives a car loan at 5.5% for a 3 year term. Please let us know how you can get 11% on cash, sometimes tax free. Please do not come back with "1% dealer financing" or such, since low dealer rates are tacked on to the price of the car.
I slap myself any time I see or hear someone paying for shit with cash. You won't get it until you figure it out. Cash is trash. It's only good in a business ownership setting where you need to launder it. As a consumer cash is the worst possible way to transact on your end.
Around here, a credit union gives a car loan at 5.5% for a 3 year term. Please let us know how you can get 11% on cash, sometimes tax free. Please do not come back with "1% dealer financing" or such, since low dealer rates are tacked on to the price of the car.
Appreciation and dividend reinvestment.
Buying a depreciating asset cash is stupid.
I'm not tying liquid cash up in a car.
https://caredge.com/ has a you toob channel that is pretty good covering this stuff.
WookieMan says
I'm not tying liquid cash up in a car.
Rich people finance cars.
Learn something new on Patnet everyday.
Why would anyone tie up cash into a car if you're only using it to get from point A to B?
Great deal? It's a 7-8 year old vehicle, I don't care how supped up, with 71k+ miles. And if it was used as it's geared, just ready to pop out with problems.