Built and priced a Ford 250 WOW!
- Thread starter Mikewood
- Start date
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Most people also trade in or sell their old car when they get a new (or new to them) one. Silly geese...
...but I can borrow money cheaper than inflation
Took you long enough...
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.
Yep.
Money is cheap right now.
My 1st mortgage was 18%.
With inflation, they're almost paying me now.
Not always. Most of the time it's a rebate or 0%, and 99% of the time you're better off taking the rebate since the finance charges won't be as high as the rebate if you secure good financing from other than the dealer.
But when they throw it in on top of the rebate, then it becomes hard to argue with. Of course you still have to make the payment on the principle which is outrageous enough.
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.
The interest rates have to raise at some point. Yeah it'll suck, but if they don't raise them sometime soon the results of that will suck even more.
