How did you purchase your car? Finance or cash?

[ayau]

I'd rather have 30k in my account and pay 1k in interest over 5 years than lose 30k in the first day of ownership. Interest is cheap. No point paying cash unless you have so much money that you dont know where to spend it. Doubt anyone here is in that situation.

[ayau]

If you have 30k cash, use it as a downpayment on a house (assuming you're renting and saving for a house). Use it for education, etc. There are so many things better than throwing 30k for a car.

[DarkSunrise]

I intended to pay in full upfront, but TFS offered me $10k at 0% interest over 36 mo. So I took the loan.

[whatsinaname]

Originally Posted by Prog

Where the heck are you getting 5-10% guaranteed return over the same period time as a car loan?

While I didn't say guaranteed, most well known low to medium risk ETFs/MFs have averaged 5-10% annually over the last ten years. Hell, a couple of my MFs did 25%+ last year, and I invest very conservatively.

[monkeedoo]

bit coin

[OICU812]

You pay now or pay later either way you pay right? Sure if someone doesent own a home, has lots of other higher priority bills I agree those should be taken care of first. However if you're at point those are all covered, all cash sure why not one less thing to owe on.

[Wilso]

I got a better deal leasing, with a cheaper buyout at the end of 4 years as well. Saved 1200 compared to financing. Just make sure you look at EVERY option

[R.S-HawK]

Financed @ 6yr/1.74%

[Teclis]

Well I got half of it financed, but then again I live in Norway, and gotta pay 100k USD for my GT86 TRD... Getting it in may-june thou, can't f****** wait

[Ocala FR-S]

Consumer debt is a way to get something nicer and/or sooner than you could otherwise afford. For that privilege, you pay more. By paying more you end up with less money. It's foolish to believe that consumer debt will do anything else.

[orlandorealtor]

Cashola

[1086]

Originally Posted by trevorovert

I can't stand when people say stuff like this.

You aren't going into debt. Your car is an ASSET. The only way you're going into debt is if you put 0 down.

Lol, sorry but I can't stand when people say stuff like this. If you even put $10k down, and have a loan, you're in debt, a loan is debt. Not everything you can sell is consdiered an asset, also. Yes many assets also come with expenses, such as a car or house. But you cannot conclusively say it is just an asset, because it isn't just that.

Your car is an expense, not a strict asset. What money are you making off of your 86? Are you renting it every weekend so that the money you make from renting it pays off your monthly payments? (for example.) If you paid cash in full for the purchase, no loan, you are still paying expenses for your car. Also, will you make the same money back you put down if you sell it? Probably not.

You can argue though, that the U.S. dollar is technically over 90% devalued, so you are getting more (brand new car) with devalued money. A bit of an abstract way to look at it but nonetheless true.

[86-tundra]

Originally Posted by 1086

Lol, sorry but I can't stand when people say stuff like this. If you even put $10k down, and have a loan, you're in debt, a loan is debt. Not everything you can sell is consdiered an asset, also. Yes many assets also come with expenses, such as a car or house. But you cannot conclusively say it is just an asset, because it isn't just that.

Your car is an expense, not a strict asset. What money are you making off of your 86? Are you renting it every weekend so that the money you make from renting it pays off your monthly payments? (for example.) If you paid cash in full for the purchase, no loan, you are still paying expenses for your car. Also, will you make the same money back you put down if you sell it? Probably not.

You can argue though, that the U.S. dollar is technically over 90% devalued, so you are getting more (brand new car) with devalued money. A bit of an abstract way to look at it but nonetheless true.

yes, I understand your point but I think you missed mine. while you are technically "in debt" I think that people TOTALLY overlook what the meaning behind "being in debt on a 25k car" means

0 down on a 25k car, 3 months later it's worth 22k let's say. You've probably brought the buy out to 24k.

So you're really only 2k in debt. what I'm saying is people are too afraid to "be in debt" when they don't think about the fact that they are not actually in debt for the price of the full car.

[Wilso]

Who ever says a car is an asset is a bafoon.. A depreciating item is never an asset.. a house.. now that's an asset