4TehNguyen

iTrader: (1)

i dont understand so by financing you have to pay interest as well as dealing with a depreciating asset vs paying it off cash up front, I dont see how the second choice is a worse choice than the first

shaolin

iTrader: (2)

Damn, who got the gift?? what a lucky person

Wid IS350

I pay cash primarily because it's part of my expendable cash - money made on investments.

What rate are you guys getting typically? If it's anywhere under 6%, I'd agree.

There's also the home equity loan, for those of you looking fo reduce your AGI

tdog09

so what do you think are the perks/disadvantages to paying cash or getting a loan for those who chose these options?

4TehNguyen

iTrader: (1)

have to have some kind of investment that would generate more interest than you were charged interest for the financing. Requires a bit of money because you have to dump a large amount of money in the investment as well as pay a larger monthly payment because you didnt put a lot down

kensteele

Hehe, all those numbers, they kinda get tricky don't they.

It is better off for me, based on risk and my financial situation...you just gotta trust me on that.

Generally, after I have paid this car off by March 07, I will have paid a lot less total interest to the bank than the person who takes 5 years to pay it off.

is4me2

I went the Home Equity Loan route so I can deduct the interest to pay less taxes. I've budgeted myself though to pay it off sooner than the 20 year loan

syn1313

Food Stamps..... and all those beer and soda cans i picked up during spring break

Jherb350

iTrader: (1)

I did a one pay 3yr 15k/yr lease, traded in my 02 Acura + $2k. At the end of the lease I'll probably buy the car outright for $21k.

jcreech

I also received mine as a gift.

tim817

i"m 25. Turning 26 next week.

haniiip

i don't know why i would pay cash to buy a new car...as others are saying, this is not an investment. i'd rather use "other people's money" and invest my own cash in other things with better returns. but, this is just my opinion. got my 250 thru credit union at 5.25% for 60 mos.

poley1

not gonna pay cash entirely. My money tree in the backyard has quit producing temporarily. I plan on paying $16k in cash, financing $28k at hopefully 6% apr.

The people that got a car as gifts, apparently mom and dad have $$$$$$$$$$.

Foxberry

I'm 35. Felt great handing over a check for the full amount. Yeah, it's a depreciating asset, but a damn sweet one!

Dr C

I've paid cash for all but about one of the 36 cars that I've owned, most of which were purchased new.