ORDER_66
I dont care anymore 2026
I keep mentioning it because maybe it's all I think about when I hear the name Lexus...
The Pursuit of Perfection.
There is no reason to own a car that costs more than 20k
- Thread starter Gonzo
- Start date
I keep mentioning it because maybe it's all I think about when I hear the name Lexus...
The Pursuit of Perfection.
sayyestothis
Free the guys
^^bc it's true. It's called leverage. An interest rate under 3% on a large loan is cheap money....put that extra money in ur reserve fund or invest it if you already have a reserve fuND (reserve fund is 6 months of living expenses in a liquid savings account)...
Pay urself first...y'all not looking at the whole picture.
this is about the dumbest statement i've seen in this thread
Pros for paying Cash For a Car
-No interest
-1 dollar has more value today then it will tomorrow
-You aren't paying cash for a car, you investing in an asset. When factoring in depreciation, you can still trade it in(or sell it) at a very good price and use that money to invest in another car
-and NO DEBT
having debt, no matter the amount is never better than not having debt. It is absolutely not "idiotic" to buy a car in cash if you have the means to comfortably do so.
philmonroe
Superstar
Who taught you this? Its a lot of people that are rich that have debt. Debt isn't a bad thing necessarily. Its stupid debt that is but a lot of people listen to that millionaire next door stuff so that's why they think no debt is better than debt.
sayyestothis
Free the guys
Yeah its cool. You aren't going to understand and that's fine. Just telling you how financially smart people operate.
Financially smart people dont shell out that advice
sayyestothis
Free the guys
So let's take this example...
Car is 20k. You can either pay 20k and buy outright on a depreciating asset which you'll never get 20k out of again and have it become illiquid
Or
You can finance for 3% and pay a little over 1800 TOTAL in interest over a 6 YEAR period. And this is 3%...used car loans are around 1.9 with good credit which makes it even MORE of a no brainer to finance.
But it's all good. U probably the same person that would say putting more than 10% down on a mortgage is smart too...lol
You see why you must not talk to any financially smart people?
Show me the financially smart people who say its a good idea. Not no smart-dumb coli poster whom nobody knows their credentials.
fukk you know about finance?
Just because you finance the car at low %, doesn't mean that the asset(car) is not accumulating depreciation. Dont try to school people on things you do not understand.
And house and car are different.
sayyestothis
Free the guys
fukk you know about finance?
Just because you finance the car at low %, doesn't mean that the asset(car) is not accumulating depreciation. Dont try to school people on things you do not understand.
And house and car are different.
Of course the car is depreciating. What does that have to do with my example.
And cars and houses are the same in my point that both are illiquid assets.
philmonroe
Superstar
Debt Use : Secrets from Smart Rich People
How Wealthy People Get Wealthier - Early To Rise
You can also look up "how rich people think differently" its articles out here. shyt ain't new but I'm not surprised. Its also not like dude or anybody else said you should go into debt for stupid stuff. Its a purpose for it if you so choose. I guess everybody knows your credentials and if not does that make you smart-dumb also or not because you parrot the company line on debt?
save me from responding to your usual shtick in that last sentence.
What it comes down to is you think it's better to have cash on hand, I think it's better to own outright. It's not to say I'm right or you're wrong, its a matter of preference. I just dont think its smart saying it's "idiotic" to pay for a car cash if you're in a position to do so, which is the post I was originally responding to.
philmonroe
Superstar
You just have to realize this is an issue people going to have different views on and esp people like us saying something that isn't as hyped to the mainstream going to get shytted on. People do it all the time on things they think can make money but people act like we saying go into debt for some stripper party in Vegas. The point with the debt is still to make money on something you've done your research on and think is going to pay off.
philmonroe
Superstar
Save yourself cause we both know why I said what I said in the last sentence. I also don't have no shtick I'm not an actor.
Anyway I can agree mostly with the other stuff you posted. It maybe idiotic to someone who believes in an opposite way of doing things than you. Doesn't make them right just like you think smart dumb people are the only ones saying debt is "cool". Different views and which ever one people use is going to dictate how they feel about the others. I've said in this thread or in others it depends regarding paying in cash. If,your like most people that are stupid regarding doing money things not involving a job and have no plans I think you're right they should pay in cash. They are not using the money for anything major anyway and might fukk it up but if you know what you can do with the money and did the due diligence why not? That's how I look at it simple and plain like most things people try to over complicate on every side.
SadimirPutin
Superstar
makes complete sense
Purchasing a car is just the beginning of the cost of a vehicle
I could buy a whole range o vehicles much nicer and more expensive than my current vehicle
but mine would be cheaper to maintain and serves the purpose I currently need
my next vehicle will be a pickup tho