Quote:
Originally Posted by Xist
3% interest may not be much, but unless I am earning more on the same amount, I am still losing money.
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A car that you don't have enough cash to buy outright... is probably more reliable than the tax return-mobiles that my wife and I used to get every year (take the check to the crappy used car lot and see what we'd be driving for the next year).
Going into debt, overall, isn't a good thing. But if you're living paycheck to paycheck, it's almost impossible to buy something bigger than one of your paychecks. I'm pretty thrilled to own my house, which the bank now owns a little less than half of. I'm pretty happy about my car too: it's got 115k and looks a bit ragged, but it's got at least that much more life left in it and it's paid for. I didn't finance it so I could finance something else the moment the payments stopped, I bought it to run a long time, and financing it helped me do it.