Huntindog wrote:
2112 wrote:
Mont G&J wrote:
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%
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.
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 agree. Never have put a dime into the stock market casino, haven't had a car or truck or trailer payment since 1991 and still retired at 55 completely debt free. When paying cash you learn about needs vs. wants. Don't need carpet in a truck. Never had it in any truck. I never even had air conditioning until the year 2000. Now I need it though, good thing it is standard these days.
