Huntindog wrote:2112 wrote:Mont G&J wrote:I totally agree. 0.9% is as close to free money as you can get. Have YOUR money work for YOU. I would loose $$ paying cash for a vehicle, or many other things. Economics 101.
I'm not impressed by those of you that take money from your savings to pay cash for a vehicle when interest rates for a new vehicle loan are at an all time low ranging from zero to 2.5%
First off those low financing offers aren't really all that low or free. It is INCLUDED in the price of the vehicle. Pay cash, and it WILL be cheaper.
And what's a saving account pay now? 0.25 at best.
In fact there are some million dollar accounts that are actually PAYING banks to store their money! As per a Wall Street Journal report.
If you are in something that is paying more, then it is not savings but investing. Investments are NOT risk free. There is a potential to lose money, and have nothing to show for it.
The lowest final cost is what impresses me.
That is the REAL Economics 101.
I totally agree. They hide the financing in the cost of a new truck. 0% interest but it could be bought in cash for thousands less. I went to buy a freezer a few months back and the salesman told me that they offer "free delivery". I told him "that's no big deal for me as I have my own truck". He then told me that it would be $50 less if I picked it up myself. Sure doesn't sound like "free delivery" to me.
