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Sep 25, 2020
12:32
:54
pm
El Fuego
Truly Addicted User
Sometimes it doesn't make financial sense to buy cash. You might be leaving
hundreds behind due to dealer incentives especially with 0 interest.
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El Fuego
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El Fuego
Joined
Jan 13, 2012
Last login
Sep 27, 2024
Total posts
18,405 (2,123 FO)
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Messages
Author
Time
How many of you actually save for your next car? I decided to put away a car
LaserCoug
9/25/20 12:23pm
If you buy new, just get the super low interest rate instead
Jericho
9/25/20 12:25pm
This. I saved the money to buy my wife's new car but they offered zero interest
Blueto
9/25/20 12:29pm
I opened a separate brokerage account about 6 years ago for this exact purpose. I invest 2 car payments per month into
Pimpin4Paradise
9/25/20 12:26pm
I do the same thing..
TheLost
9/25/20 12:32pm
We've purchased our last 2 vehicles and motorhome in cash. We started
Sandy Lyle
9/25/20 12:30pm
Sometimes it doesn't make financial sense to buy cash. You might be leaving
El Fuego
9/25/20 12:32pm
I am more of the opinion that what's best for your money isn't necessarily what
EEcougar
9/25/20 12:36pm
If someone saved up to buy cash, they should have no problem paying it off in 6
El Fuego
9/25/20 12:48pm
Sometimes this is true, when purchasing from a dealership I had them
Sandy Lyle
9/25/20 12:37pm
Why would you ever pay cash for a car?
TheRealU
9/25/20 12:30pm
I don't like to have debt and liability only insurance is nice.
Sandy Lyle
9/25/20 12:31pm
Why? I have never understood the fear of debt.
TheRealU
9/25/20 12:35pm
There is value in not being a slave to debt
g$
9/25/20 12:42pm
This could come back and bite me, but I also only pay liability only for my
Sandy Lyle
9/25/20 12:42pm
Very good point. I don't gamble on my car insurance.
El Fuego
9/25/20 12:50pm
I also have only purchased used and haggle the price. I know it's not
Sandy Lyle
9/25/20 12:33pm
I am with you there - I am all about buying the 2 year old car/toy
TheRealU
9/25/20 12:36pm
An asset is anything that puts money in your pocket. A liability is anything
g$
9/25/20 12:39pm
So I don’t have to pay for full insurance coverage
Acorn
9/25/20 1:18pm
So you don't get full coverage on a $30-40k car? Seems like a gamble.
TheLost
9/25/20 1:39pm
Everyone should have as large a deductible as you can afford.
Acorn
9/25/20 1:53pm
Your math doesn't add up..
TheLost
9/25/20 2:13pm
Insurance math. It isn’t what you think
Acorn
9/25/20 4:02pm
RE: Insurance math. It isn’t what you think
TheLost
9/25/20 4:32pm
Sounds like you made a good decision paying premiums
Acorn
9/25/20 4:47pm
RE: Sounds like you made a good decision paying premiums
TheLost
9/25/20 4:49pm
Collision nor comprehensive are statutory requirements
Acorn
9/25/20 5:03pm
I set aside a little money each month
Virginia Ute
9/25/20 12:31pm
I did that. Several years ago I decided to lease a car. I only had it about a year but kept the direct deposit
kccougar
9/25/20 12:31pm
I bought used for myself last time because no payment. I would be the same as
Idahofallsblue
9/25/20 12:32pm
I just save. Then I use that money when I want for what I want. Also, I never spend a lot on a car so the need to save
Baron
9/25/20 12:33pm
I don't plan on ever getting a car loan again.
Sea Chicken
9/25/20 12:33pm
Nah, interest rates are so low that I just finance and don't look back
cougarblue
9/25/20 12:34pm
We bought our last car with cash. We haven't been saving, but probably will at
cougaman
9/25/20 12:36pm
I knew what I wanted in a car, had cash in the bank to buy if I bought a lo mile
Tarbo
9/25/20 12:39pm
I saved and then double how much I really wanted to buy to fit in with neighbors
ordinary tri guy
9/25/20 12:46pm
I saved up for a new truck several years ago
CBaass
9/25/20 1:03pm
This is a great example how people's car spending delays their retirement substantially.
Baron
9/25/20 1:07pm
Yep. You can sacrifice cars, vacations, toys, etc and cut some years off of
Acorn
9/25/20 2:04pm
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