Quote:
Originally Posted by Fat Charlie
If you do it right, financing is a great tool. I couldn't afford to buy my house in one payment, but even with zero down payment the mortgage was only $100 a month more than the rent I had been paying at the time. And if you're not planning on moving, owning is way cooler.
I drove off with my Fit with only a signature, too. I didn't have $15.5k burning a hole in my pocket, but I did have a pen. The fuel savings over the POS I had been in came close to covering the payments, and nowadays those payments are gone but the Fit isn't. I'd love to grab one of those Bolts, but I won't need a car for a long time. Not needing a car doesn't mean missing out on a deal: by the time my Fit goes, I'll be scouting some very nice used model 4s.
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Oh I promote buying cars with no money down if your rate is low. What's the cost to finance that extra $2-5,000? Not much more than the principal cost. But you pay the opportunity cost of no longer having $2-5,000 in cash.