Quote:
Originally Posted by 58thecat
New, 0 percent, pay it off quickly, enjoy the warranty, run it until it dies that is the only way you get the most bang for your buck. Last two vehicles I owned the old GMC went 21 years, owned it after three, replaced a few normal wear and tear items but had 18 years of no payments.
The jeep went 17 years same kinda deal...pay the buggers off quickly and at zero percent and say a seven year extended warranty your ahead of the game.
If you flip them and get into dept every other year you will never bank any money just keep throwing it out the window...but too each there own  |
If it's 0% then you want to pay it off slowly. Because while inflation pushes your wages up, the payments stay the same.
So $49,999 in 5 years is worth less than it is today.
I have taken 0% deals in the past and put my money in high interest savings. Then just used that account to pay the monthly payment. So by the time I paid off the car my money had made me a profit.
Of course you have to watch. The domestic companies just put the price up and offer 0%. Or offer massive discounts with a higher interest.