To: ex-Texan; biblewonk
The best strategy, Reed said, is "to try to match the term of the loan to the time you intend to keep the vehicle." Perpetual car payments are the "best strategy"?
Pay with cash. Decide to be satisfied with a car you can actually afford.
Ping.
6 posted on
04/05/2005 12:29:07 PM PDT by
newgeezer
(Just my opinion, of course. Your mileage may vary.)
To: newgeezer
Buy a car with a big ole tax refund and ptc.
15 posted on
04/05/2005 12:36:34 PM PDT by
biblewonk
(WELL I SPEAK LOUD, AND I CARRY A BIGGER STICK, AND I USE IT TOO!)
To: newgeezer
Pay with cash. Decide to be satisfied with a car you can actually afford. Amen to that.
24 posted on
04/05/2005 12:44:09 PM PDT by
calex59
To: newgeezer
He's actually got a good point. What he's saying is that it's OK to pay off a purchase over the expected life of the purchase.
This is a good rule of thumb for people to use in all aspects of their finances. Vacations, for example, should be paid off immediately because they're "spent" by the time you receive your credit card bill. And there's nothing wrong with financing a car over five years if you expect to keep it for at least that long.
59 posted on
04/05/2005 1:39:33 PM PDT by
Alberta's Child
(I ain't got a dime, but what I got is mine. I ain't rich, but lord I'm free.)
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