I wrote / said:
OK, first of all, you should have known what I meant, not what I wrote!
You shouldn't pay cash for a vehicle. Or any depreciating asset.Yeah I definitely agree with you on this. I'm 28 and grew up poor.Coming from nothing, I only pay cash. I'm probably a rarity because of my strange perspective... the main reason I only pay a ton of $ upfront and don't finance is because I can't imagine driving around in Chase Bank's or Bank or America's car. The cars are mine and nobody is going to be taking them away from me. Worked too hard to acquire the things I want to enjoy only to risk having them taken away even if I can afford the payment. Everyone is different though.
I can give you my specific circumstances, but that is just anecdotal. I, as well as my friends, all saved lots of money specifically to purchase a house, knowing how powerful putting a lot of money down was for financial freedom. So yes, one should put as much money down as possible, and get that payment as low as possible. Any other way to do it is wrong (I am just sharing my opinion, not attacking anyone LOL).OK, first of all, you should have known what I meant, not what I wrote!
What I meant was, in my thinking, at the time, when I wrote it, was that back in the day, a $1000/month house payment was what one might typically pay for an entry-level first-time house. Natch you can make the monthly payment amount anything you want, depending on down payment, term, rates, etc. aside from the obvious selling price.
In my thinking, at the time (and I still don't understand why you couldn't read my mind) was that a typical first-time buyer has very little down payment. So, therefore, $1000 won't get you anything these days in most parts of the country. Even Texas.
My purchase method is invest until I see enough gains to cash out of investments and then buy cars with cash. Kind of the same thing as what you are referring to.
LOL takes a lot longer to do though!
Nope, just my propensity sometimes to laser-focus on one part of something to the exclusion of another part. In this case I focused on the body of my own post and ignored the title.Thanks....I thought I was losing it.
I don't think so...saw a GT500 for only 5k over MSRP when they have been 15-20k over. So maybe the madness is starting to subside. Interest rates are up, volume is also up...but demand will be down because now we're back to weeding out people by interest rates. To counter this, dealers will try to entice with 0% or cash back. I guess we'll see.
Yea I don`t doubt 0% will be back soon, maybe some next year. The car market is still hot regardless of what clickbait titles say. This coming winter December-March I just don`t see 0% happening.
Just kind of funny that these two comments, right in a row, provided basically the opposite opinions.I can give you my specific circumstances, but that is just anecdotal. I, as well as my friends, all saved lots of money specifically to purchase a house, knowing how powerful putting a lot of money down was for financial freedom. So yes, one should put as much money down as possible, and get that payment as low as possible. Any other way to do it is wrong (I am just sharing my opinion, not attacking anyone LOL).
The current generation has much more of a "what's the payment" mindset, rather than "how much money is this going to cost me total". This is why salesmen ask what payment can you afford? And my (admittedly) asshole response is usually, you let me worry about that, tell me how much this this is going to cost me out the door and I will tell you yes or try again.
But seriously, modifying a car while you are still paying on a note is mind boggling.
This is 100% dead on the money.
LOL, agreed. Opinions are like butts, we all got one and they all stink.
Not trying to cause a big debate here. But I think a lot of people use the I can make more money in the market just as a excuse to not have to put large amounts of money into a car. Most people including myself simply do not want to see my savings drop 40-60k on a car purchase. And that is perfectly ok either way.LOL, agreed. Opinions are like butts, we all got one and they all stink.
I do understand the "I can make more in the market than I pay in interest" argument (Not in the current market mind you...but usually that is true). It just doesn't work for my neanderthal brain and comfort level.
