because it's been asked 10 trillion times. basically, if you pay cash for your car, you have no idea how to manage money, because that cash could be invested to make WAY MORE CASH than whatever interest lexus financial is currently offering.
meaning.... just because you CAN pay cash for the car, it would be a dumbarse idea to do so....
It's not a bad idea to pay cash for a car, especially if it's a Lexus. Nothing depreciates value faster than purchasing a car but with Lexus, it's depreciates a lot slower. Re-sale value of Lexus' are pretty high. If you would have told me that you were purchasing a TSX, G35 or C230 for cash, i would say you would be taking a huge loss.
Paying cash with no interest it definitely the best way to go if you have the money. Interest alone on a $30,000 loan with 7% interest is around $2,100. You save that much by paying cash. However, it's not something everyone could do or else everyone will be driving around in a used 80'-90's Accord. Even if you have the money to pay cash for the whole car, it's an oppurtunity cost. Even the richest people who buys Range Rover's, Aston Martin's, Ferrari, etc... leases.
your payment doesnt compute.. unless you got a used car or a 250 because 616 a month for 60 months = 36,960 with no interest rate factor, 4k down means the sticker was about 40k you either had some equity in a trade or your interest rate is better than that.
no i didnt..i got a brand new 2006 is350 for 35k!!..it was a sweet deal!
$24.59 a month.
Yeah.. it's almost paid off. I dunno if that's a good or bad move for me but it makes me have nothing to pay for every month except gym and the cell. Of course you gotta pay the stupid home crap.