>financing a car
>buying shit you can't afford to pay cash for
ishiggydiggy
>>15015303
You look like shit op.
>>15015303
>dumping all your cash savings in a car
>>15015303
Can't tell if you're a girl or a boy
thinking of financing a supersport because i have no credit and want to eventually buy some real estate
it does feel like a strange thing to do, though
>>15015303
I put 15k down and financed the other 15k. Not because I didn't have it in the bank but because dealers offer 0.9%. I can make way more than that just parking my money in a money market. You would actually be a total fucking idiot if you didn't finance part of a car purchase right now even if you have the cash. Why would you lock your cash into a depreciating asset when such favorable terms exist? I don't think you actually have any money desu senpai.
Good thread.
About to make my first car buy probably getting a loan redpill me on best way to go about it besides cash
>>15015303
I finance because dumping my liquid assets into a liability is retarded. If I finance, i still have repair money, emergency cash for medical co-pays, etc.
If I flat out dump my savings into a car I may not have enough for emergencies. Plain and simple.
>>15015798
have good credit
don't have bad credit
if your interest rate is higher than oh....4% then you'll be donating a lot of money to some bank somewhere
gap insurance will help you if you wreck soon after purchase, it covers the amount you owe vs the amount the car is worth
loans are great if you can pay bills on time and have a dependable, steady job
but loans are the worst fucking thing ever if you're bad with money or your pay fluctuates plus/minus $100 from check to check
tread lightly
or, get a rich family member to pay for the car cash and pay them back interest free. bonus: you can work the money off instead of just giving them cash
>>15015474
>not wanting full ownership from day one
>>15015303
>mortgaging a house
>buying shit you can't afford to pay cash for
Enjoy living with your mom the rest of your life.
>>15015892
Full ownership of a depreciating asset is nothing to be proud of. Would you be proud of owning stock that went down every quarter?
Financing a car is not the problem. Financing a car with a stupid interest rate or for 72 months is the problem. It's stupid when you can't comfortably afford 24-36 months of payments, plus insurance, maintenance, and fuel and any unexpected repairs. If you get a low interest rate loan and invest the cash you would have used to pay for your car up front, at a higher return than your car loan interest rate, you will be able to make money on the cash you kept in your pocket while financing the car. Thereby off-setting some of the inevitable depreciation of the car.
Do you believe rich people pay cash for a Ferrari? Of course not. They finance it and use the cash they keep in their portfolios for other income producing activities.
It's poor people that think paying cash for cars is smart. People that understand wealth management use financing as leverage to increase their wealth. Dumb people walk into dealerships, pick out the nicest car on the lot, then go sit down in the finance office and agree to 6% or higher loans for 72 months, or even longer. They remain upside down on those loans for years and then just roll the remaining balance into their next car purchase. These people never get out of the crushing debt on vehicles they can never pay off.
>>15015857
>Click here
what's your idea of ideal paycheck in this scenario? you used +/-$100 for fluctuating paychecks
>>15015303
3 things you pretty much have to take a loan or finance
Cars
Education
House
>lease car I know I will buy out anyway at the end
>8k down
>0.9% 48 months, $300/month payments
>after 4 years will owe about 9k
>Have enough to buy it out already, 2 years left
>dat credit rating improvement
>Will only end up paying 1500 more than buy out price at the end
>have new car
>full coverage warranty
>small payments
>have been able to save money over 4 years
>driving a nicer car with no problems
Not like $1500 is any sort of money I'm in co-op and make more than that every couple weeks.
I still can't see how anyone would think this is a bad option other than thinking $1500 is going to kill them in the long run in which case why do you think you can even afford a car?
>>15016064
THIS THIS THIS
THIS THIS THIS
THIS THIS THIS
/o/, please read this post. There are airtight reasons for people with good credit to finance large purchases.
>>15016045
actually I live with your mom
you could always lease a car..
now thats a joke. What kind of idiot would do that?
I did. on a VW.
