Whats your monthly Payment?
02-18-2011, 01:47 PM
#41
2nd Gear Member
Join Date: Jun 2009
Location: Georgia
Posts: 195
02-18-2011, 03:26 PM
#42
5th Gear Member
Join Date: Jul 2006
Location: New Orleans
Posts: 4,491
An alternative view: continue to pay it off early then, when it is completely paid off, put an equal monthly amount into an investment account for the rest of your life! YOU earn interest/investment returns, AND you can pay cash for subsequent cars and never have to worry about losing job and being unable to pay!
Live life debt free, man.
Live life debt free, man.
02-18-2011, 03:29 PM
#43
2nd Gear Member
Join Date: Mar 2010
Location: Virginia
Posts: 156
well even if you have the cash to pay for a 30k car, i would never spend it all on one car, what happens if you have an accident that is your fault and your in the hospital? your now broke because you spend all of your available cash on a car.
02-18-2011, 05:54 PM
#44
4th Gear Member
Join Date: Jan 2007
Location: Palm Beach to South Carolina
Posts: 1,567
Dumb man, but everybody has an opinion! LOL
Just a thought... instead of paying $1,000 per month over your 0% payment of $425, you could put that $1,000 a month into an investment account every month from the beginning of your loan and have investment income/interest for 2 years before you would pay off your 0% loan with the "alternate view"... LMAO I mean... really!
Note: I don't usually attack anyone on forums (unless they think the 2010+ rear looks goods - just kidding!), but I felt I needed to say something...
Just a thought... instead of paying $1,000 per month over your 0% payment of $425, you could put that $1,000 a month into an investment account every month from the beginning of your loan and have investment income/interest for 2 years before you would pay off your 0% loan with the "alternate view"... LMAO I mean... really!
Note: I don't usually attack anyone on forums (unless they think the 2010+ rear looks goods - just kidding!), but I felt I needed to say something...
Last edited by jdmcbride; 02-18-2011 at 10:44 PM.
02-19-2011, 05:06 AM
#46
1st Gear Member
Join Date: Feb 2011
Location: NV
Posts: 80
Agreed. I could drop the $$$ to buy mine outright, but I don't want to dip into the MFF (Middle Finger Fund) too much. I like the financial freedom my savings account affords me. Like Green Bay Fudgepacker(sorry....born in Chicago) says....you just never know what could happen. I'm planning on just puting $10k down and and take a 48mth loan at 1.9% so should be about $550 a month and I'll prob bump that up and pay it off earlier.
02-19-2011, 05:26 PM
#47
5th Gear Member
Join Date: Oct 2009
Location: Maui
Posts: 4,752
If you only had $30k in the bank and literally spent it all on a car, that would be unwise. But if you have stacks, then thats another thing.
02-19-2011, 10:19 PM
#48
2nd Gear Member
Join Date: Mar 2010
Location: Virginia
Posts: 156
Agreed. I could drop the $$$ to buy mine outright, but I don't want to dip into the MFF (Middle Finger Fund) too much. I like the financial freedom my savings account affords me. Like Green Bay Fudgepacker(sorry....born in Chicago) says....you just never know what could happen. I'm planning on just puting $10k down and and take a 48mth loan at 1.9% so should be about $550 a month and I'll prob bump that up and pay it off earlier.
