Whats the balance of your car loan???
09-18-07, 04:01 PM
#32
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24 months to go on the 3 year loan, $13.5k remaining.
H'mm.....last year people were jumping into real estate with the same mentality. The higher return on your money the greater the risk. That is Investing 101. You don't get something for nothing. In today's environment 10% is not a sure thing by any means. Sure, the market went up big today, but the last six weeks or so have been pretty turbulent.
H'mm.....last year people were jumping into real estate with the same mentality. The higher return on your money the greater the risk. That is Investing 101. You don't get something for nothing. In today's environment 10% is not a sure thing by any means. Sure, the market went up big today, but the last six weeks or so have been pretty turbulent.
Last edited by Evitzee; 09-18-07 at 04:14 PM.
09-18-07, 06:31 PM
#33
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24 months to go on the 3 year loan, $13.5k remaining.
H'mm.....last year people were jumping into real estate with the same mentality. The higher return on your money the greater the risk. That is Investing 101. You don't get something for nothing. In today's environment 10% is not a sure thing by any means. Sure, the market went up big today, but the last six weeks or so have been pretty turbulent.
H'mm.....last year people were jumping into real estate with the same mentality. The higher return on your money the greater the risk. That is Investing 101. You don't get something for nothing. In today's environment 10% is not a sure thing by any means. Sure, the market went up big today, but the last six weeks or so have been pretty turbulent.
09-18-07, 10:42 PM
#36
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I must say, I'm impressed with several of your posts. Considering that many IS owners on this forum are in their 20s, you guys/gals seem to have good financial insight. 
I/we take a loan on our cars from our credit union and pay it off in-full after 6months to a year. This helps maintain a high credit score. For my IS350, we'll put down $10k, finance about 35k at 4.8%, then pay it off within the year.
I/we take a loan on our cars from our credit union and pay it off in-full after 6months to a year. This helps maintain a high credit score. For my IS350, we'll put down $10k, finance about 35k at 4.8%, then pay it off within the year.
09-18-07, 11:49 PM
#37
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I must say, I'm impressed with several of your posts. Considering that many IS owners on this forum are in their 20s, you guys/gals seem to have good financial insight.
I/we take a loan on our cars from our credit union and pay it off in-full after 6months to a year. This helps maintain a high credit score. For my IS350, we'll put down $10k, finance about 35k at 4.8%, then pay it off within the year.
I/we take a loan on our cars from our credit union and pay it off in-full after 6months to a year. This helps maintain a high credit score. For my IS350, we'll put down $10k, finance about 35k at 4.8%, then pay it off within the year.
09-19-07, 12:10 AM
#39
This is exactly what I did when I bought my GS. I know this is an IS thread but I figure it's more of a money management issue also. For those of you who don't have investments that you can make or a side business that could benefit from adding a large amount of cash, follow droptopgal's suggestion. it'll help build up your credit and make you look REALLY good when you go buy the house.
09-19-07, 09:56 AM
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Even if one has the funds to pay $40k+ in cash for a car, a financially responsible person would still thoroughly evaluate and have some hesitation. Cash is cash. Sitting here reflecting a bit... Over time, it seems that the "game" does not change, but the price/cost of the "game" is much higher. Back in the Civic days, the amount needed to cover monthly expenses was significantly lower than these days. Ie. during civic days, $3k/month easily covered expenses to live, these days, $10k+/month is required. Again, hard work and sound planning.
09-19-07, 01:10 PM
#42
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hmmm - granted every situation is different, but I'm trying not to be offended by the "monkey" reference and the "a financially responsible person would still thoroughly evaluate" reference.
We paid the balance (minus our trade) in cash because a) we already have excellent credit and so don't need to worry about building it and b) think that it's throwing money away to pay interest. Which is why we pay off our credit cards each month. yes, we could probably break even by keeping that money in even a CD, but we also - because of "hard work and sound planning" - can more than afford it since we're DINKs and so are really talking about only 2 weeks salary.
So for some it might be foolish to pay cash for a car, but to us it made sense. To us it made no sense to finance $13k. Again, every situation is different.
We paid the balance (minus our trade) in cash because a) we already have excellent credit and so don't need to worry about building it and b) think that it's throwing money away to pay interest. Which is why we pay off our credit cards each month. yes, we could probably break even by keeping that money in even a CD, but we also - because of "hard work and sound planning" - can more than afford it since we're DINKs and so are really talking about only 2 weeks salary.
So for some it might be foolish to pay cash for a car, but to us it made sense. To us it made no sense to finance $13k. Again, every situation is different.
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