Buy now and finance or wait and pay cash
Hello All! I want to full time when I retire in 6 years. Wanting to hear your opinions on whether I should buy something now and finance it or wait until I retire and pay cash. If I finance it ...
Forum Discussion
See my post above with the numbers. I used numbers directly off internet searches for going rates.
This isn't about owning vs renting or waiting vs now in general. This is about the OP's specific situation.
For HIS situation, he would pay more out on interest and storage fees by buying now to use it for 3 weeks a year for these 6 years than he would by waiting until he's at, or at least much closer to, retirement to buy and renting for those 3 weeks per year instead.
For someone else, the numbers would be different and I'd wholeheartedly say "buy now". But in the OP's situation, it doesn't make sense.
This isn't about owning vs renting or waiting vs now in general. This is about the OP's specific situation.
For HIS situation, he would pay more out on interest and storage fees by buying now to use it for 3 weeks a year for these 6 years than he would by waiting until he's at, or at least much closer to, retirement to buy and renting for those 3 weeks per year instead.
For someone else, the numbers would be different and I'd wholeheartedly say "buy now". But in the OP's situation, it doesn't make sense.
