A Monday Thread...in honor of National Simplicity Day

gobucks0409 said:
Probably just an under the desk handy
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jack nicholson GIF
 
PnkPanther said:
interest rates are so low, I don't worry about it

For me I'll go 4 years on a car loan. I almost always use by credit union and take out 5 year car loan since interest rate is same for 48 or 60 month loan, but pay off in 48

With that said, interest rates being so low, I'd argue if you're investing the money right now you're better of than debt reduction

I wouldn't want a 6, 7, or even 8 year car loan though, even with no interest
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The financial podcast I listen to has the rule set at 3 years, 20% down, and never pay more/month than you invest.

But yes ... If you took the same starting monthly budget and invested what you didn't pay towards the car. You would be losing money drawing out the payments for 7 years. You would also owe more money than your car is worth for a lot of that loan period.
 
It's a 5 year loan.... I'm good
 
Flavortown Tebow said:
Do you get tingly in your pants when car loan/lease posts are made here?

Tell me how bad I got taken for that $65.

I'll never learn!!!!!
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No I don't get tingly.

But it's clear you still don't understand the concept and I'm not going to bother with the vortex again.
 
PnkPanther said:
No I don't get tingly.

But it's clear you still don't understand the concept and I'm not going to bother with the vortex again.
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Trust me, the laughs will last me a laugh time, buddy.

Hopefully I'll get to level 100 Money Skillz like you some day.
 
gobucks0409 said:
The financial podcast I listen to has the rule set at 3 years, 20% down, and never pay more/month than you invest.

But yes ... If you took the same starting monthly budget and invested what you didn't pay towards the car. You would be losing money drawing out the payments for 7 years. You would also owe more money than your car is worth for a lot of that loan period.
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You can different advice from different people.

I dont have an issue with 4 or 5 year loans if interest is low, but that is me.

I'll also add, I really enjoy having my current car paid off. My plan was to get new car next year, but I've decided it'll be at least 2 more years
 
Flavortown Tebow said:
Trust me, the laughs will last me a laugh time, buddy.

Hopefully I'll get to level 100 Money Skillz like you some day.
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There are people with much better money skillz than I have.

I can say this, dealers prefer buyers who lease over buyers who buy and it's not because they make less money off people who lease.
 
PnkPanther said:
There are people with much better money skillz than I have.

I can say this, dealers prefer buyers who lease over buyers who buy and it's not because they make less money off people who lease.
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You're assumed role as the car finance guru is probably the best piece of bait in these threads now that Rocko is gone.

But...

Premier League No GIF
 
Kburjr said:
I pay cash. I abhor owing people anything.
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I get the philosophy

With rates as is, if I have 40k cash, Im investing it because return should be > low interest in today's market
 
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