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Originally Posted by TeenGodFather
It's just stupid. Wait 3 years with your 2 cars and then BUY a newer car outright and skip the intrest in the loan. But each to their own, apparently the people in the US just LOVE credit.. I personally hate it and never buy anything I can't afford to pay NOW.  |
I could've waited 2 months and bought one cash for about $38,500-$42k... and thats what I had decided to do, until I just couldn't hold back anymore and had to get it yesterday.
I'll pay it off within 1 year, same plan with my truck. I put $11k down on my truck and financed $28k+, $17k down here and financed $30k+
I don't see the point in dumping $40k all at once into a vehicle when I can finance it and use the savings to invest in something that presents an ROI.
Putting money into a car is 100% like throwing the money away, I understand this.