Originally Posted by mjeds

I typically do the same if not pay cash outright.


my last 2 vehicles (prior to the RCF) were financed as I had stepped up in level and cost.


but in each case I never financed more than 36 months, so the down payment was significant. I will typically keep a vehicle 6-8 years, make payments or 3 years, then after the payments are done, bank the payment amount for the next 3-5 years as the down payment for the next vehicle.


but I've always done well with saving.. I banked more than 50% of my paycheck for 10 years so I was capable of paying cash for my home, while I did finance 25% of the cost of the home and used the remaining savings to do some remodeling before moving in, my mortgage is only ~$400 a month to which I pay double or triple each month and will have it cleared in under 10 years.


I've always been of the mindset that if I want something I save for it, if I still want it after the money is saved it was worth waiting for, there are times when I will want something, save for a few months and then decide against getting it.. This mentality keeps the impulse buying in check for the most part.