Originally Posted By: Pop_Rivit
Originally Posted By: NHHEMI
You do realize that not everyone can afford to pay cash for a vehicle right?
That's the type of thinking that gets people into perpetual debt.
Anyone who can afford payments can afford to pay cash. All you need to do is practice some self-discipline and save up the money first. Take the money you're blowing on payments and put it into a safe investment. Continue making that payment to yourself every month, and in 3-4 years you'll have enough to buy that new car.
Then, if you're really smart you'll pay cash for an inexpensive used vehicle, and continue saving.
And while you're saving it up you'll be collecting some interest as well, so instead of paying interest you'll be collecting it. And unlike the original poster who was excited over saving a few dollars in interest, you'll be able to get very excited about both the interest you've saved and the interest you've earned.
Save the lecture for the financial forum. Your post only applies to people who are in an upper income bracket. The average person can not save enough money to buy a new car with cash like that. Also, what about the person who needs a car then not 4-6 years down the road?
For anyone who has the financial resources to actually pay cash for a vehicle that is great and all the power to them. I do not, especially now since I got sick. I need a dependable vehicle that I know what it will cost me each month in my budget. Used cars that break down and cost an arm and a leg to fix do not interest me. A known monthly payment and then a warranty that covers any breakdowns is what I choose to have.
I am not irresponsible financially. Some of you on this site are just out of touch with average people and what they can afford. And just because someone carries a note on something it doesn't mean they don't know what they are doing or are going to wind up broke and bankrupt.
I have a safety net in the bank, my bills are always paid on time or even early, and I have money each month to live on. I am not taking a trip around the world but if I want to do something reasonable I can. Paying cash for a vehicle is not possible for me.
Originally Posted By: NHHEMI
You do realize that not everyone can afford to pay cash for a vehicle right?
That's the type of thinking that gets people into perpetual debt.
Anyone who can afford payments can afford to pay cash. All you need to do is practice some self-discipline and save up the money first. Take the money you're blowing on payments and put it into a safe investment. Continue making that payment to yourself every month, and in 3-4 years you'll have enough to buy that new car.
Then, if you're really smart you'll pay cash for an inexpensive used vehicle, and continue saving.
And while you're saving it up you'll be collecting some interest as well, so instead of paying interest you'll be collecting it. And unlike the original poster who was excited over saving a few dollars in interest, you'll be able to get very excited about both the interest you've saved and the interest you've earned.
Save the lecture for the financial forum. Your post only applies to people who are in an upper income bracket. The average person can not save enough money to buy a new car with cash like that. Also, what about the person who needs a car then not 4-6 years down the road?
For anyone who has the financial resources to actually pay cash for a vehicle that is great and all the power to them. I do not, especially now since I got sick. I need a dependable vehicle that I know what it will cost me each month in my budget. Used cars that break down and cost an arm and a leg to fix do not interest me. A known monthly payment and then a warranty that covers any breakdowns is what I choose to have.
I am not irresponsible financially. Some of you on this site are just out of touch with average people and what they can afford. And just because someone carries a note on something it doesn't mean they don't know what they are doing or are going to wind up broke and bankrupt.
I have a safety net in the bank, my bills are always paid on time or even early, and I have money each month to live on. I am not taking a trip around the world but if I want to do something reasonable I can. Paying cash for a vehicle is not possible for me.