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I'm all over a 1.7% loan (I have a sky high credit score as well).
A 2013 car is not necessarily "cheap". Some 2013 luxury cars can be $20K or much more.
Or maybe you got a very low monthly payment.
Good for you... put it on autopay, forget about it and enjoy your new (to you) car.
It was a Honda CRV with low miles, (paid $11K), plus, I have bought nearly all my cars using the same Credit union, been a member since I was 18 yrs old.
I think this made the difference ,that I had been a life long member, while my credit score did help lock in a low rate, I think even if my credit was bad, they would have approved the loan, just at a higher rate or required a Cosigner.
Saving for even more vacations. It's all about paying attention to detail.
Quote:
Originally Posted by Ziggy100
Suze Orman’s advice is great for dumb people who need to have their hand’s held when making financial choices. Her own choices are pretty questionable. She really dated a guy in 1987 and bought a BMW to show how bad of investment it was?
Sure we all should be riding a $100 bike to work and living in a tent to save money in retirement. But live a little. I hate to see her financial advice on taking a vacation. 100% depreciation immediately!
Saving for even more vacations. It's all about paying attention to detail. Insurance cost comparisons, Vehicle MSRP comparisons, Here is a place to start comparing MSRP and insurance costs.
Car purchases should be well thought out. Fuel mileage, insurance costs, loan interest. and cost of ongoing maintenance should all be checked and rechecked.
New car, used car, keeping your existing car all have financial consequences and only you can make a good decision concerning your needs.
An objective car buying decision making process can result in a large portion of your rent or mortgage being paid as a reward of good decision making.
Or you car use the additional savings to pay off existing debt, go on a vacation, or invest or an IRA.
Last financed a car in 1987. Paid for is beautiful.
My choice is clean, low mileage, late model, that I can afford to buy for cash.
^^^^^This. The only time I bought new, is when I knew I would keep the car long term, and that is well over ten years. A three year old car with 30K - 35K miles is the sweet spot for many used vehicles.
She is a motivational speaker, a seller to be honest. She makes people think about their lives and finances. She helps them get off the dime to starting saving and being more responsible with their finances. But the bottom line she is a seller who made a fortune off her fans.
There are vehicles that hold value. Find those, get a great rate and have a great ride for many years. Most people are too lazy to know how to buy a used car, so those people are making a risky decision.
Saving for even more vacations. It's all about paying attention to detail. Insurance cost comparisons, Vehicle MSRP comparisons, Here is a place to start comparing MSRP and insurance costs.
Car purchases should be well thought out. Fuel mileage, insurance costs, loan interest. and cost of ongoing maintenance should all be checked and rechecked.
New car, used car, keeping your existing car all have financial consequences and only you can make a good decision concerning your needs.
An objective car buying decision making process can result in a large portion of your rent or mortgage being paid as a reward of good decision making.
Or you car use the additional savings to pay off existing debt, go on a vacation, or invest or an IRA.
Pretty cool sources of information, but doesn’t everybody do this anyway?
I stopped listening to Suze Orman and Dave Ramsey years ago. Always hated it when PBS money begging season came around, and sure enough, there was Suze, plying her trade. Following their "advice" generally cost me money in the long term. Remember, they really aren't "helping." They are hawking their products, books, seminars, etc.
According to Suze Orman, lots car buyers are being downright dumb.
This has been so long before Suze explored the notion.
#1) gearhead thinking about choices (and now the anti-gearhead too).
#2) financing. Pretty much at all if you can't deduct the expenses.
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Saving for even more vacations. It's all about paying attention to detail.
