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If you can make 4% you make 4% be it $10000 or ten billion.
Oh please. It’s retarded bs we read like this “I buy a car on a loan at 1% and my money makes 7% in the market so I really am still up 6%. “ when realistically most people usually overbuy on the vehicle on loan because a smooth salesman, cant actually qualify for 0-1% and pay around 4/6% and up to 18% if they hav3 ****ty credit with a loan for up to 72 months because that’s the only way for the loan to be “affordable”and don’t have the money to invest to make 7x and even if they do have some money to invest they don’t have enough money saved so making “7%” is such a small amount on that “saved” money they aren’t making any money if you use the same term as the loan. Yeah invest 30k in whatever for 40 years and you have hundreds of thousands. Tell me something I don’t know. You still need to have that 30k to start with.
Yes there are some people who qualify for 0% and can pay a loan off fast. I’m not arguing that.
Christ people 63% of Americans don’t have $500 to come up with in a emergency and you guys are talking like everyone has 40k laying around to invest and buy a car on loan. In order to buy a car at loan vs investing tactic you NEED to have the actual cash to beat the loan rate for the term of that loan rate. So unless you got a crapton of money.....you’re not beating anything but the bishop
Another thing to think about as a matter of personal finance, is keeping adequate "cash" on hand - in a savings account or stock account, to handle unexpected expenses, like a new roof or furnace for the house, or even to tide you over during a job loss. So if you have $30,000 on hand, you probably don't want to wipe out your savings completely to pay for a $30,000 car... you could for example consider putting down $15,000 and taking a car loan on the remaining $15,000 balance to leave yourself with some cash to cushion unexpected expenses.
Oh please. It’s retarded bs we read like this “I buy a car on a loan at 1% and my money makes 7% in the market so I really am still up 6%. “ when realistically most people usually overbuy on the vehicle on loan because a smooth salesman, cant actually qualify for 0-1% and pay around 4/6% and up to 18% if they hav3 ****ty credit with a loan for up to 72 months because that’s the only way for the loan to be “affordable”and don’t have the money to invest to make 7x and even if they do have some money to invest they don’t have enough money saved so making “7%” is such a small amount on that “saved” money they aren’t making any money if you use the same term as the loan. Yeah invest 30k in whatever for 40 years and you have hundreds of thousands. Tell me something I don’t know. You still need to have that 30k to start with.
Yes there are some people who qualify for 0% and can pay a loan off fast. I’m not arguing that.
Christ people 63% of Americans don’t have $500 to come up with in a emergency and you guys are talking like everyone has 40k laying around to invest and buy a car on loan. In order to buy a car at loan vs investing tactic you NEED to have the actual cash to beat the loan rate for the term of that loan rate. So unless you got a crapton of money.....you’re not beating anything but the bishop
Please, I’m sorry if I’m giving the kind of stuff you should do so you don’t end up in that 63%
I last bought a two year old Camry and I financed it because I expect to make more in the market than the interest on the loan.
That’s what us 37% do.
I never had 30k to start with when I began putting enough in my 401K to qualify for the company match.
I just paid cash for another 16-year-old car. All are 2003s with million-mile engines and manual transmissions. I am truly set for life. All the rest of you can pay for interest, full-coverage insurance, and depreciation; I don't.
I just paid cash for another 16-year-old car. All are 2003s with million-mile engines and manual transmissions. I am truly set for life. All the rest of you can pay for interest, full-coverage insurance, and depreciation; I don't.
I worked my rear off so I could afford something other than a 16 year old car, lol. It was part of my motivation to obtained the spending power I have.
If I had no such interest, I would not have bothered with years of schooling and numerous hours of work and acquiring responsibility. I would have just kicked it back and worked some mediocre job. Nothing wrong with doing that of course if that is your goal.
You’re not giving me any advice that
1. I don’t know
2. I’m far beyond what your advice can help me
3. I’m far beyond that 63% group you think I’m in.
4. 3/4 of that 37% you consider yourself in are still over buying.
If you are walking in a car dealer and using their financing...you most likely are already are paying too much
You’re not giving me any advice that
1. I don’t know
2. I’m far beyond what your advice can help me
3. I’m far beyond that 63% group you think I’m in.
4. 3/4 of that 37% you consider yourself in are still over buying.
If you are walking in a car dealer and using their financing...you most likely are already are paying too much
If you don’t have financing before you walk into the dealer you are an idiot
I worked my rear off so I could afford something other than a 16 year old car, lol. It was part of my motivation to obtained the spending power I have.
If I had no such interest, I would not have bothered with years of schooling and numerous hours of work and acquiring responsibility. I would have just kicked it back and worked some mediocre job. Nothing wrong with doing that of course if that is your goal.
I don't work at a mediocre job. I like my job and I like all the cars I own.
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