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Smart Shopper Percentage of monthly income spent on a car?
Percentage of monthly income spent on a car?
390 messages,
Last post on Mar 21, 2009 at 5:50 PM
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Car Financing
- #389 of 390
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Re: should we pay some in cash for highlander? [lrich66]
by qbrozen
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Mar 20, 2009 (2:14 pm)
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Replying to: lrich66 (Mar 20, 2009 12:19 pm)
$35k? Huh. That's about $5k more than a full loaded Highlander Limited AWD is worth. Hope it lasts you a few hundred thousand miles to make up the difference in gas savings.
I know, its not the question you asked.
Anyhoo... at 5.9%, I would definitely put money down if you can afford to. Either that or you'll need gap insurance.
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- #390 of 390
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Re: should we pay some in cash for highlander? [lrich66]
by joesmith2
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Mar 21, 2009 (5:50 pm)
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Replying to: lrich66 (Mar 20, 2009 12:19 pm)
If you read my posts from the last year, you'll see I've never made a car payment in my life, and I've always advised people NOT to finance their car. However, I wrote that when we lived in a capitalist country. Now that we live in a socialist semi-communist country, things are different. Look at the tax incentives for buying a new car, especially a hybrid. New programs are sure to come as our government prints more money to try to fix the problems the government created. You might want to wait and see what these programs are, it could mean you need to buy a new car to take advantage. You may as well finance all you can, chances are you won't have to pay it back. When hyper-inflation hits, you'll be paying back with dollars that are worth much less than today. On the other hand, keeping cash could be a bad idea, since it will be worth so much less than it is now. I'm so glad I bought gold and silver when I did.
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