NEW TRUCK!!!

Huntindog wrote:

Bionic Man wrote:

Huntindog wrote:

Jayco-noslide wrote:
Ummmm. Must be like buying a fancy luxury car; Mercedes, BMW. I won't ask you personally and don't want to know, but I'm wondering how many young folks buy and finance these things for a hundred years.

I have not had a car payment in decades. That will remain so going forward.

As for the youngsters.... Starting out they likely need to have car payments. Hopefully many will get off the payment train ASAP.

I just bought an Expedition. Ford Credit finance choices were 0% for 5 years or 1.8% for 6. At those interest rates it would be silly to use your own money.

Congrats on the new ride. I hope it treats you well.

Financing is never free. It is rolled into the price when it is offered. If you look hard enough, you can buy it for less if you forgo the "free" financing

Just one of the many games the car biz plays.

My question is, you are pretty adamant about paying cash. If one negotiates the best deal they can, then when it comes to the money, they can finance that new truck for say 1.5% , is it wise to still pay cash, whats your thoughts on that.

My thoughts providing its the best deal regardless, you got the rebates, you got what you could trading the old truck in whatever etc etc. Why not use their money. Lets pick 40K you had to pony up to pay cash, can you earn at least 5% somewhere, would you not be better off say in four years paying the loan, and letting the 40K make you some money ,at least a bit more after covering the interest on the loan. Remember now you still have the 40K in the investment making 5%. I always hear ,well its peace of mind having paid cash, is not also peace of mind making money, and ALWAYS having the option to pay that loan off at any time. I know things change, but is that a good or bad option .