If you own a car, do you have a car payment?
If you own a car, do you have a car payment?
Seems like everyone I know is tied to a car payment. When they finally get it paid off, they go buy another and reset their debt cycle. Curious what percentage of bogleheads have car payments.
Re: If you own a car, do you have a car payment?
I chose to pay the zero interest loan monthly and set the full payoff balance aside in an interest bearing account
If past history was all that is needed to play the game of money, the richest people would be librarians.
-
- Posts: 2139
- Joined: Fri Mar 15, 2013 10:41 pm
Re: If you own a car, do you have a car payment?
I'm financing my 2013 Maxima at 0%. Got it for 26.9K, well below sticker, because it was the base model and a left over.
-
- Posts: 1094
- Joined: Wed Jul 16, 2014 7:28 am
Re: If you own a car, do you have a car payment?
I took a loan because the rate was 1.49% interest, and I needed to keep some cash for other potential expenses. But I paid it off in 18 months, and I wouldn't have bought a new car at all except that my wife got a good job that required travel, and I wanted her to be safe. Bought her a Subaru Impreza for the AWD, comfort and the gas mileage. I'm still rocking a fashionable 2004 station wagon that I inherited from my grandfather.
Re: If you own a car, do you have a car payment?
I have owned my '06 Dodge Stratus for 4 years now. I bought it used (1 year old). Aggressively paid the loan off. Suzie Orman tells us to keep our car for 10-15 years. Yes, the car is 8 years old. 7 more years will go by quick.
The money that I would be paying every month is automatically going into the stock market.
BTW: Your title of your post is contradictory, in that, if you OWN a car, you cannot have a PAYMENT. Just sayin'
The money that I would be paying every month is automatically going into the stock market.
BTW: Your title of your post is contradictory, in that, if you OWN a car, you cannot have a PAYMENT. Just sayin'
Re: If you own a car, do you have a car payment?
I got a loan because they offered an extra $500 off if I took it. My first payment was for $29k. It will be paid off in four payments, so ask again in two months.
- BrandonBogle
- Posts: 4467
- Joined: Mon Jan 28, 2013 10:19 pm
Re: If you own a car, do you have a car payment?
I put No because I went with the intent of your post even though I technically do have a car loan. I bought the car, negotiating solely on price, the then they offered me 0% financing instead of my $1.5k rebate in 2006. At the time, I had access to CDs paying 8% the first year, 7.x % the second year, and 6.x% the third year (see Ken's blog around SECU of MD for details from 2006-2008). So, I got way more in risk-free interest than the $1,050 benefit of buying cash.
When that car loan was paid off 4 years later, I still had roughly $21k in 6.8% student loans. I took PenFed's 0.99% auto loan to pay off these 6.8% loans and aggressively paid down my 4.5% student loans over the next year. So kow I just that 0.99% loan, but it really represents my student loans than money for buying the car.
When that car loan was paid off 4 years later, I still had roughly $21k in 6.8% student loans. I took PenFed's 0.99% auto loan to pay off these 6.8% loans and aggressively paid down my 4.5% student loans over the next year. So kow I just that 0.99% loan, but it really represents my student loans than money for buying the car.
Re: If you own a car, do you have a car payment?
I have a 2007 Sonata whichwas paid off in 2011. I just bought my wife a 2012 Honda pilot for 29000 earlier this year and have those payments for another 4.5 years. But for 3 years it was nice to be free of them.
-
- Posts: 5463
- Joined: Wed Dec 28, 2011 8:56 am
- Location: North Carolina
Re: If you own a car, do you have a car payment?
I answered no but did use my HELOC to pay for it. 6 months later I have paid it down to about $3k (from original $24k). I have either paid cash or used HELOC to buy all my cars in last 30 years except for an interest free loan for a Sonata. When I used HELOC, I aggressively pay loan off, usually in less than 2 years.
Re: If you own a car, do you have a car payment?
Own vehicles
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
Re: If you own a car, do you have a car payment?
I have a lease payment on one and I own a couple of older cars outright. Due to the incentives and the fact that I tend to keep my newest car for only 3-4 years, it made more sense to lease this time. Last time it made more sense to buy. Paid cash for that one.
Re: If you own a car, do you have a car payment?
I have paid cash for all my cars. all new. Run until can't run any more. Have 4 all over 140,000 they just keep going. Years old (7,10,20 and a 72 bug).
-
- Posts: 471
- Joined: Fri Dec 13, 2013 7:23 am
Re: If you own a car, do you have a car payment?
I took a loan for my car 2013 VW Tiquan when the dealer offered $1000 off of the price to finance it. I had to maintaing "a balance" for 6 months. So I took the loan, paid it down to the point that 6-months of payments would pay of the car, and finished that up last year. I think I paid ~$25 in interest to get $1000 off the car. Of course, had I financed the whole thing for the whole term I would have paid like $2500 in interest. Guess they didnt expect a boglehead when they launched that promotion.
Stay the course. If you can't resist greed, and fear is proven to be 2x as strong, you are doomed as an investor.
-
- Posts: 18502
- Joined: Tue Dec 31, 2013 6:05 am
- Location: 26 miles, 385 yards west of Copley Square
Re: If you own a car, do you have a car payment?
wow, the other Maxima owner on this site.investingdad wrote:I'm financing my 2013 Maxima at 0%. Got it for 26.9K, well below sticker, because it was the base model and a left over.
Have owned or leased one or two Maxima's since 1985 and our current 2008 bought outright with all bells & whistles @ $32.0 OTD is the last of the line. Diminished quality and service (from three different dealers) these last few years has brought us to the end of the line. We are now a one car - low mileage - family and in a couple of years will be looking at a Subaru or Honda.
Don't it always seem to go * That you don't know what you've got * Till it's gone
Re: If you own a car, do you have a car payment?
No car payments here since 2005. My wife was always a "we'll always have a car payment" person. I convinced her otherwise. She was also a "we'll always have a mortgage" person. I convinced her otherwise.
Now I'm working on "we'll work until 67 and then collect Social Security". This one seems harder than the others. Not for me, but for my wife.
Now I'm working on "we'll work until 67 and then collect Social Security". This one seems harder than the others. Not for me, but for my wife.
Re: If you own a car, do you have a car payment?
It might be interesting to have more poll options to find out whether folks with a car payment are really "tied" to it. From the responses, it seems that idea of getting a loan does not have the connotation that it used to and indeed it may be a financial plus.
Maybe even ask if you can fit all your cars into your garage, too?
Maybe even ask if you can fit all your cars into your garage, too?
- cheese_breath
- Posts: 11787
- Joined: Wed Sep 14, 2011 7:08 pm
Re: If you own a car, do you have a car payment?
Own two vehicles outright. Last time I had a car payment was 1989, and I paid it off in four months. Before that my last car payment was 1973.
The surest way to know the future is when it becomes the past.
-
- Posts: 856
- Joined: Thu May 03, 2012 9:14 am
Re: If you own a car, do you have a car payment?
Financed my last car at 0.9% interest over five years. I figured I could make more in the market but decided I hate additional loans and paid it off in 14 months.
Next car will most likely be cash.
Next car will most likely be cash.
Re: If you own a car, do you have a car payment?
I have the title but I used a HELOC to finance it so I answered yes. I can pay it down (or not) on my own schedule and it uses the approximately 80% equity in my home at a very low cost.
-
- Posts: 2219
- Joined: Fri Sep 02, 2011 10:34 am
Re: If you own a car, do you have a car payment?
I have owned around 55 cars since 1965, none of them were purchased with borrowed $$.
First purchase, in 1965, was a 1960 Renault Dauphine, 3 speed, 32 horsepower, and would hit 65 mph with a good tail wind, $200. Most recent purchase, in 2012, was a 2009 Jetta Sportswagen (2.0 Turbo), $15k, which goes like stink.
Almost all were used with the exception of a couple of Civics when I was a new father and worried about dependability.
First purchase, in 1965, was a 1960 Renault Dauphine, 3 speed, 32 horsepower, and would hit 65 mph with a good tail wind, $200. Most recent purchase, in 2012, was a 2009 Jetta Sportswagen (2.0 Turbo), $15k, which goes like stink.
Almost all were used with the exception of a couple of Civics when I was a new father and worried about dependability.
"Every time I see an adult on a bicycle, I no longer despair for the future of the human race." H.G. Wells
-
- Posts: 629
- Joined: Wed Jun 08, 2011 2:34 pm
Re: If you own a car, do you have a car payment?
0% for 60 months = car payment
Re: If you own a car, do you have a car payment?
PenFed had 1.49% 5 year financing available when I bought 22 months ago. The decision was pay cash or leave it in the market..... the rear view mirror says I made the right call so far. Actually, it was more a no brainer than anything else. Going backwards from there, 6 years of no payments, 10 years of payments, 10 years of no payments.
I'm situational on vehicles. If someone wants to give me money so be it. If not, write the check.
EDIT: Wonder if I can remember them all.... 1967 MG1100, 1967 Austin Cooper 1275 S, 1970 Opel Kadet Rallye, 197? Toyota Corolla 2D, 197? Toyota Corolla 4D, 197? AMC Gremlin followed by company cars for several years, then a 1984? Datsun Sentra, 1987? Toyota MR2, 1998 Porsche Boxster, 2000 Porsche Boxster S, 2003 Jeep Liberty, 2013 Benz C350.
A dozen so far.....
I'm situational on vehicles. If someone wants to give me money so be it. If not, write the check.
EDIT: Wonder if I can remember them all.... 1967 MG1100, 1967 Austin Cooper 1275 S, 1970 Opel Kadet Rallye, 197? Toyota Corolla 2D, 197? Toyota Corolla 4D, 197? AMC Gremlin followed by company cars for several years, then a 1984? Datsun Sentra, 1987? Toyota MR2, 1998 Porsche Boxster, 2000 Porsche Boxster S, 2003 Jeep Liberty, 2013 Benz C350.
A dozen so far.....
Last edited by midareff on Fri Jul 18, 2014 9:58 am, edited 1 time in total.
Re: If you own a car, do you have a car payment?
Hi,
I bought my 2014 Nissan Altima on a loan. I could buy the car with cash. Why?? I get additional $500 cash back and the 3 years 7.5K loan is at 2.69%. Effectively, I get paid ($500 - $326) = $174 to take the loan. The loan is less than 0%.
KlangFool
I bought my 2014 Nissan Altima on a loan. I could buy the car with cash. Why?? I get additional $500 cash back and the 3 years 7.5K loan is at 2.69%. Effectively, I get paid ($500 - $326) = $174 to take the loan. The loan is less than 0%.
KlangFool
30% VWENX | 16% VFWAX/VTIAX | 14.5% VTSAX | 19.5% VBTLX | 10% VSIAX/VTMSX/VSMAX | 10% VSIGX| 30% Wellington 50% 3-funds 20% Mini-Larry
-
- Posts: 775
- Joined: Tue Jul 02, 2013 4:50 pm
Re: If you own a car, do you have a car payment?
Paid off our two vehicles last October and vowed never to have car payments in my life. Established a savings account (Car Fund) to save our monthly car payments and it will be used for future car purchases with cash. CASH is king in my life right now
Debt is dangerous...simple is beautiful
Re: If you own a car, do you have a car payment?
My wife just bought a vehicle we were prepared to write a check for it but after making the deal we were offered the 0% financing .With reluctance I agreed to it but not the 60 months much shorter time wise .
2014 No. 42 2015 No.342 2016 No. 6 2017 238 2018 no. 175 2019 no. 144 6 year average 157.83. Proves I am just an average investor.What do I know? "Good bless America land that I love..."
- nisiprius
- Advisory Board
- Posts: 52216
- Joined: Thu Jul 26, 2007 9:33 am
- Location: The terrestrial, globular, planetary hunk of matter, flattened at the poles, is my abode.--O. Henry
Re: If you own a car, do you have a car payment?
I really recommend this maneuver: "when the loan ends, just go on making the payments, only make them to yourself."
The first few were financed. They were 36-month loans, and even then we kept our cars for at least 5 or 6 years. These days you'd probably need a longer loan but on the other hand cars are much better and more durable and you can keep them longer. After the third one, I set up a dedicated savings account at the credit union that I called the "car replacement account." As soon as the car loan payments ended, I set up automatic transfers of the same monthly amount from our checking account to the "car replacement account." Because it was the same amount we were already paying, it was almost painless.
By the time we needed to replace the car, there was almost enough in the "car replacement account" and by scraping a bit I was able to pay cash for it.
After negotiating the price, the salesperson started to talk about financing, and I remember the look of disappointed surprise on his face when I pulled out a checkbook and said "Oh, that's OK, I don't need financing, I'll just write the check now."
Even if you don't save the full amount to buy the next car, you can save enough so that next time you only need to finance a portion of the price, and then a smaller portion the next time.
It sounds like a silly trick but it worked beautifully for me. I am sure the behavioral economists know all about this, but the only way I've ever been able to do serious savings is to make it automatic, e.g. via payroll deduction. Saving by just making a fresh decision every month to put something away never has worked for me.
I could say we never financed another car but that's not quite true. Of the six, seven, eight we've bought, one was financed for a special reason--my wife had just gotten her first job and wanted to build a credit record in her own name, so she financed it with only her name on the loan. Two were bought used from acquaintances. All the rest were bought new, for cash.
The first few were financed. They were 36-month loans, and even then we kept our cars for at least 5 or 6 years. These days you'd probably need a longer loan but on the other hand cars are much better and more durable and you can keep them longer. After the third one, I set up a dedicated savings account at the credit union that I called the "car replacement account." As soon as the car loan payments ended, I set up automatic transfers of the same monthly amount from our checking account to the "car replacement account." Because it was the same amount we were already paying, it was almost painless.
By the time we needed to replace the car, there was almost enough in the "car replacement account" and by scraping a bit I was able to pay cash for it.
After negotiating the price, the salesperson started to talk about financing, and I remember the look of disappointed surprise on his face when I pulled out a checkbook and said "Oh, that's OK, I don't need financing, I'll just write the check now."
Even if you don't save the full amount to buy the next car, you can save enough so that next time you only need to finance a portion of the price, and then a smaller portion the next time.
It sounds like a silly trick but it worked beautifully for me. I am sure the behavioral economists know all about this, but the only way I've ever been able to do serious savings is to make it automatic, e.g. via payroll deduction. Saving by just making a fresh decision every month to put something away never has worked for me.
I could say we never financed another car but that's not quite true. Of the six, seven, eight we've bought, one was financed for a special reason--my wife had just gotten her first job and wanted to build a credit record in her own name, so she financed it with only her name on the loan. Two were bought used from acquaintances. All the rest were bought new, for cash.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
-
- Posts: 2139
- Joined: Fri Mar 15, 2013 10:41 pm
Re: If you own a car, do you have a car payment?
I almost went with the Altima but I had read about some problems with the transmission in the 2013 models. How has the 2014 been for you? I ended up with a 2013 Maxima per my post above. First time "stepping" up a little bit and I've enjoyed it so far.KlangFool wrote:Hi,
I bought my 2014 Nissan Altima on a loan. I could buy the car with cash. Why?? I get additional $500 cash back and the 3 years 7.5K loan is at 2.69%. Effectively, I get paid ($500 - $326) = $174 to take the loan. The loan is less than 0%.
KlangFool
-
- Posts: 25625
- Joined: Thu Apr 05, 2007 8:20 pm
- Location: New York
Re: If you own a car, do you have a car payment?
No. My first car (still own 18 years later) I put 50% down and took a loan from my father. I paid him back as soon as I could (less than 2 years) - I don't like to owe anyone.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
-
- Posts: 25625
- Joined: Thu Apr 05, 2007 8:20 pm
- Location: New York
Re: If you own a car, do you have a car payment?
Why stop at 15 years? Maintain it, change the oil, give it a wash and wax every now and then, it will go much longer than 15 years. Save your money and invest it.jmndu99 wrote:I have owned my '06 Dodge Stratus for 4 years now. I bought it used (1 year old). Aggressively paid the loan off. Suzie Orman tells us to keep our car for 10-15 years. Yes, the car is 8 years old. 7 more years will go by quick.
The money that I would be paying every month is automatically going into the stock market.
BTW: Your title of your post is contradictory, in that, if you OWN a car, you cannot have a PAYMENT. Just sayin'
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
- pennstater2005
- Posts: 2509
- Joined: Wed Apr 11, 2012 8:50 pm
Re: If you own a car, do you have a car payment?
I do the same thing as Nisi, making payments into a dedicated savings account after car is paid off. Takes some discipline.
“If you think nobody cares if you're alive, try missing a couple of car payments.” – Earl Wilson
Re: If you own a car, do you have a car payment?
investingdad,investingdad wrote:I almost went with the Altima but I had read about some problems with the transmission in the 2013 models. How has the 2014 been for you? I ended up with a 2013 Maxima per my post above. First time "stepping" up a little bit and I've enjoyed it so far.KlangFool wrote:Hi,
I bought my 2014 Nissan Altima on a loan. I could buy the car with cash. Why?? I get additional $500 cash back and the 3 years 7.5K loan is at 2.69%. Effectively, I get paid ($500 - $326) = $174 to take the loan. The loan is less than 0%.
KlangFool
No transmission problem with my 2014 Altima. Need to bring in my Altima to adjust the passenger side airbag sensor.
KlangFool
30% VWENX | 16% VFWAX/VTIAX | 14.5% VTSAX | 19.5% VBTLX | 10% VSIAX/VTMSX/VSMAX | 10% VSIGX| 30% Wellington 50% 3-funds 20% Mini-Larry
Re: If you own a car, do you have a car payment?
When I was just starting out back in the 1980's I partly financed one of my cars. Paid it off over a year. I hated making payments. All of the other cars I've owned during my life were cash purchases.
Re: If you own a car, do you have a car payment?
I was never a used car dealer like you. I've owned one-tenth the number of cars if you count half the car my spouse had when we got married. And I still own and pay insurance on 3 of them. I am even old enough that I may have already bought my last car.TheGreyingDuke wrote:I have owned around 55 cars since 1965, none of them were purchased with borrowed $$. .
-
- Posts: 2628
- Joined: Mon Aug 13, 2012 6:43 am
Re: If you own a car, do you have a car payment?
I just counted , it's 18 since 1970. All cash. 14 used, 4 new, all minivans when we had small kids and friends to haul.TheGreyingDuke wrote:I have owned around 55 cars since 1965, none of them were purchased with borrowed $$.
First purchase, in 1965, was a 1960 Renault Dauphine, 3 speed, 32 horsepower, and would hit 65 mph with a good tail wind, $200. Most recent purchase, in 2012, was a 2009 Jetta Sportswagen (2.0 Turbo), $15k, which goes like stink.
Almost all were used with the exception of a couple of Civics when I was a new father and worried about dependability.
First car was a 1960 Corvair production serial number was 564. $175 It had a gas catalytic heater, a tube radio, a non functioning parking brake and I had to put in my own seatbelts. It was bright red and I called it Eric (the red)
Current ride is a 2009 Pontiac Vibe GT. also Red bought it used. It does have a parking brake.
Re: If you own a car, do you have a car payment?
I'll add another one to the "I have a loan because the money's cheap" list. We have 2 cars, the newer one has a loan, though there's enough money in the bank to pay it off. I don't because the interest is lower than my marginal real return on the money I'd use to pay it off.
Re: If you own a car, do you have a car payment?
I just paid peanuts cash for a 2006 Saab 9-3, which happens to be my 3rd and the nicest car I have ever owned. Paid cash for previous ones as well and I have no intention to finance anything other than a house in the future.
There is no greatness where there is no simplicity, goodness and truth. -L. Tolstoy
-
- Posts: 61
- Joined: Tue Jan 10, 2012 9:17 pm
Re: If you own a car, do you have a car payment?
We paid off our cars this year, we are saving up money to buy the next car with cash.
-
- Posts: 6561
- Joined: Tue Jul 26, 2011 1:35 pm
Re: If you own a car, do you have a car payment?
Out of 14 cars, all used, and only two financed. Those were while I was in Grad School *,
when cash flow was an issue.
Other than that, I've only borrowed for houses, grad school, and engagement/wedding rings
(again while I was in grad school). All have turned out well (30th anniv. two years ago).
I don't expect to ever sign loan papers again.
when cash flow was an issue.
Other than that, I've only borrowed for houses, grad school, and engagement/wedding rings
(again while I was in grad school). All have turned out well (30th anniv. two years ago).
I don't expect to ever sign loan papers again.
Re: If you own a car, do you have a car payment?
I have 3 vehicles and no car payments... a daily driver, a pick up, and a hot rod.
I have financed vehicles before, but always like to pay them off ASAP. It's totally a mental thing, I just can't stand car payments.
I have financed vehicles before, but always like to pay them off ASAP. It's totally a mental thing, I just can't stand car payments.
Re: If you own a car, do you have a car payment?
What is this interest you speak of, stranger?jvclark02 wrote:I chose to pay the zero interest loan monthly and set the full payoff balance aside in an interest bearing account
"Don't trust everything you read on the Internet"- Abraham Lincoln
Re: If you own a car, do you have a car payment?
Really , it depends on what care you have. If my Passat makes it even to 12-13 years, I'd be surprised. It's currently at 9. It's not that reliable of a car, and I do all the maintenance items regularly, but it has terrible ratings on Consumer Reports (for good reason).Grt2bOutdoors wrote:Why stop at 15 years? Maintain it, change the oil, give it a wash and wax every now and then, it will go much longer than 15 years. Save your money and invest it.jmndu99 wrote:I have owned my '06 Dodge Stratus for 4 years now. I bought it used (1 year old). Aggressively paid the loan off. Suzie Orman tells us to keep our car for 10-15 years. Yes, the car is 8 years old. 7 more years will go by quick.
The money that I would be paying every month is automatically going into the stock market.
BTW: Your title of your post is contradictory, in that, if you OWN a car, you cannot have a PAYMENT. Just sayin'
"Don't trust everything you read on the Internet"- Abraham Lincoln
Re: If you own a car, do you have a car payment?
I've never taken out a loan to buy a car, and I'm pretty sure my wife never has, either. My first car was a hand-me-down from my parents near the end of graduate school; before that I didn't need a car. My wife had a couple of different cheap used cars before we got married. By the time we needed to replace our cars a few years after we got married, we had enough money to buy two new cars for cash: a Toyota Corolla type car that we used for out-of-town trips, and an even smaller car for local trips (no more than about 15 miles round trip). That was 24 years ago. Since then we've replaced the first car twice (most recently last year), and the second car just once (also last year), each time with similar new cars for cash. No "upgrading" except for the normal escalation of standard features which is very noticeable after ten years.
I think after adjusting for inflation, each of the replacements actually cost less than its predecessor!
I think after adjusting for inflation, each of the replacements actually cost less than its predecessor!
Meet my pet, Peeve, who loves to convert non-acronyms into acronyms: FED, ROTH, CASH, IVY, ...
- Crimsontide
- Posts: 729
- Joined: Fri Oct 25, 2013 5:32 pm
- Location: DFW Metromess
Re: If you own a car, do you have a car payment?
Used to be one of those folks that thought I would always have a car payment, then I woke up... Haven't had a car payment in 10 years.
- TomatoTomahto
- Posts: 17158
- Joined: Mon Apr 11, 2011 1:48 pm
Re: If you own a car, do you have a car payment?
Paid cash for 3 cars; the fourth one offered (after price was finalized) an interest lower than inflation, so we "financed" that one. We had intended to pay in cash, but it seemed like free money. We have the payment auto-deducted (pun ) from our account, so no chance for late fees.
I get the FI part but not the RE part of FIRE.
Re: If you own a car, do you have a car payment?
I owe about 4-5k on a 0.9% interest car note for my Honda Fit. I could pay it off today but it would leave my e-fund a little lower than I'd like and the rate is low so I'm just letting it ride on auto-payment/autopilot for the time being.
Re: If you own a car, do you have a car payment?
Does anyone with a 0% auto-loan, make the monthly payment with a 2% cash-back credit card?
Re: If you own a car, do you have a car payment?
Last three I did he same thing, Lexus RX ,Lexus GX and Mercedes CLK 550 Cab, put half down in cash, took out a loan for other half (.9 % was the highest).I then put the money I would have used for other half( full payment) in MLP's ( ETP,ECA,HCLP) and some in PFF,the interest distributions,dividends far exceeded the .9 % I was paying and the value went up more then enough on most to pay for the down payment cash I laid out !
Loving those MLP's outperformed the S&P 12 out of the last 13 years AND the distributions are tax deferred !
The trick of course is to learn how to "use" credit to your advantage,not let them take advantage of you.
Loving those MLP's outperformed the S&P 12 out of the last 13 years AND the distributions are tax deferred !
The trick of course is to learn how to "use" credit to your advantage,not let them take advantage of you.
Re: If you own a car, do you have a car payment?
I bought my current car in 2004 for cash. Will consider financing the next one if I can get a 0% loan.
-
- Posts: 471
- Joined: Fri Dec 13, 2013 7:23 am
Re: If you own a car, do you have a car payment?
And then pay off the CC balance from a 0.85% savings account, which held the full cost of the car from the initiation of the loan?livesoft wrote:Does anyone with a 0% auto-loan, make the monthly payment with a 2% cash-back credit card?
Stay the course. If you can't resist greed, and fear is proven to be 2x as strong, you are doomed as an investor.