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Nov 19, 2021
10:30
:18
am
Clark Addison
All-American
Bought a car for my daughter a few months ago and my bank gave me a loan at 1.79%. Not going to say no to that
Not sure if I will hold it the entire 5 years, but I certainly have better use for that money right now than 1.79%
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Clark Addison
Previous username
No One Important
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Clark Addison
Joined
Apr 14, 2007
Last login
Jun 9, 2024
Total posts
9,240 (580 FO)
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Messages
Author
Time
<< Deleted >>
materialized
11/19/21 10:23am
Yes, and thanks to inflation, it is a great deal!
RH84025
11/19/21 10:25am
Does your income increase with inflation? If not, you are still paying interest.
TailgateU
11/19/21 10:41am
Inflation bleeds into the stock market and I get a better return on that money
RH84025
11/19/21 10:44am
That approach fails to account for risk. The market will correct.
TailgateU
11/19/21 12:25pm
So you don't think a person can invest money and make more thatn 1.7% in
RH84025
11/19/21 1:31pm
Yes. I like the warranty it comes with. And it's not a ton of debt.
paulb
11/19/21 10:25am
Yes but only because we downsized last week from our vehicle of 15 years.
BYUforlife
11/19/21 10:26am
And it is a hybrid so I am already seeing savings in fuel cost.
BYUforlife
11/19/21 10:26am
Love our hybrid. Sometimes we get 54+ mpg.
paulb
11/19/21 10:27am
I sometimes get 99+ in my eco diesel. It’s usually downhill.
blueaussie
11/19/21 10:30am
Lol. I guess if I'm only counting when I'm in electric mode I get 99+ too 🙂
paulb
11/19/21 10:34am
Put your car in neutral and turn it off when going downhill. NO COST!
Ted Lasso
11/19/21 10:37am
Most hybrids do that for you, and charge the battery while doing it.
paulb
11/19/21 10:41am
4 paid off (including cheap/kids cars) and 2 payments
byu1
11/19/21 10:26am
Step one, get a 0% to 4% percent car loan. Step two invest the money you would have spent paying it off. Profit.
EternalOptimism
11/19/21 10:26am
My wife just asked me last week about paying off the one car loan we have. It's less than 10K. Interest is so low that
Pete
11/19/21 10:31am
Also, it is especially bad to pay off older loans as most of the interest has already been payed.
EternalOptimism
11/19/21 10:33am
Yep in fact I took out the most possible. I got a 6 year rate at 1.87%
cougarfann888
11/19/21 10:28am
Love it. Nice rate!
EternalOptimism
11/19/21 10:30am
Bought a car for my daughter a few months ago and my bank gave me a loan at 1.79%. Not going to say no to that
Clark Addison
11/19/21 10:30am
I realize people justify car payments because of low interest rates, but
Archaea
11/19/21 10:32am
I don't blame you. I usually end up paying them off early for the same reason
Clark Addison
11/19/21 10:33am
I'm aware of what financial wizards advise, so I'm not one of those guys, but
Archaea
11/19/21 10:35am
I do the same thing. But when I do buy a new one car I still finance it.
cougarfann888
11/19/21 10:37am
I buy only used cars with low mileage.
Archaea
11/19/21 10:44am
Well, to be fair eventually you might have a nest egg. Then the "payments" just go from one account to the other account
EternalOptimism
11/19/21 10:39am
You're probably right but I don't spend much on a car.
Archaea
11/19/21 10:43am
Honestly, for most people, it's a safer method. Job security, disasters, and I hate to say it but divorce makes things
EternalOptimism
11/19/21 10:35am
Bought my last with a loan to close the best deal. Held it for 4 mo and then paid it off for the same reason.
kccougar
11/19/21 10:35am
It's a fine line. My wife very much likes the peace of mind not making the payments. Right now we have our loan but
Pete
11/19/21 10:39am
I do. $7500 tax credit for my new Wrangler hybrid. And most of my
Utefaninenemyland
11/19/21 10:59am
No, my newest car is 2012
mncstr
11/19/21 10:59am
I think it needs to be acknowledged that one size does not
CougaRR4L
11/19/21 11:21am
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