Quote:
Originally Posted by btimola
Wow...
Ok 1st off i have 7 cars. And no no hondas, actually all german except the frontier and now the z. My friend didnt dump money into it, he bought it like that. Has bad credit. He was trying to recoup some cash. I got the z as a more reliable option. What does it matter that my gti is a 2003? They only made 1000 yellow in the u.s. a civic? Wow really? Nissan is the only japanese line i like, and 80% being because of the gtr. Pay off in a year ehmm yeah i never pay minimum payments...all my cars are paid off. Plus i sold 3 of my quads and will be putting the 11k into the loan. If you pay minimum payments on your car good luck. The z drives well, but lacks power, and if you cant see that then i bet you havent driven many fast cars. It has a ton of potential and love the look.
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Congrats to you in paying off your cars even though it may not always be the best move. Here's why, money has been really cheap to borrow for the last 10 years or so.
Example car loans can be gotten for 1.49% new and used cars at 1.99% on the internet. Conservative investments have yields of 4% with much higher returns if you have some money invested in the stock market. So let's say we're moderate investors and put 50% in bonds with the other 50% in stocks. We average an annual moderate return of 6%.
In very simplistic math, $10,000 at 1.99% equals to $199 interest paid. $10,000 at 6% earned is $600. A difference of $401 profit for the year without lifting a finger. Multiply this times 7 (amount of cars you own) and this can add up pretty quickly. I don't know about you, but I like making money without lifting a finger
