Most people also trade in or sell their old car when they get a new (or new to them) one. Silly geese...How many folks actually pay off a vehicle in full in 4 years without going and getting a new one?
...but I can borrow money cheaper than inflationpay cash for everything
NoDoesn't the transmission make up for the lack of power in the big rigs?
No
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I haven't bought a car since 2005.
I had 3, but sold one about 5 months ago.
Paid my last one off in 3. Then an F-150 ran into it.
Bought a cash car with the settlement. I'm not doing payments again.
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I know there are some who don't have payments, but in general, I think most of the population does. After 560,000 miles on my old truck, I've got my first payment in 10 years. Of course they offered the rebate and 0% interest so the payment option didn't hurt too bad. I've got a baler that was financed the same way. Ready to write a check and they asked if I wanted 3 years at 0% during the promotion.
It's not just consumers who have fallen into the finance everything trap. The manufacturers get a little desperate too if you buy at the right time.
I know there are some who don't have payments, but in general, I think most of the population does. After 560,000 miles on my old truck, I've got my first payment in 10 years. Of course they offered the rebate and 0% interest so the payment option didn't hurt too bad. I've got a baler that was financed the same way. Ready to write a check and they asked if I wanted 3 years at 0% during the promotion.
It's not just consumers who have fallen into the finance everything trap. The manufacturers get a little desperate too if you buy at the right time.
Lol. Well 0% is free money.
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Yep... With interest rates that low it's better to finance things that depreciate and use your cash for investments. Just gotta be aware that things are going to flip back to normal at some point.I've got my first payment in 10 years. Of course they offered the rebate and 0% interest so the payment option didn't hurt too bad. I've got a baler that was financed the same way. Ready to write a check and they asked if I wanted 3 years at 0% during the promotion.
0% interest (on your savings anyway) is the normal. If they raise it, then everything will be belly up....Yep... With interest rates that low it's better to finance things that depreciate and use your cash for investments. Just gotta be aware that things are going to flip back to normal at some point.
A savings account isn't investment. An investment is something that grows faster than inflation and will inherently have a little risk.0% interest (on your savings anyway) is the normal. If they raise it, then everything will be belly up....