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But over five years you had to spend $621.16 a month to make $2385.58, or about $40/month. I'd rather have the $621.16 a month. If you put the $35000 in

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Old 04-16-2011, 01:29 PM   #1 (permalink)
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But over five years you had to spend $621.16 a month to make $2385.58, or about $40/month.

I'd rather have the $621.16 a month.

If you put the $35000 in a savings account at 2.5% (where can I get one?) and withdrew the $621.16 a month to pay the loan, I don't think you'd be making as much - would you even be ahead?

Added:
While I haven't use the 12C in a while (or ever, I was a TVM on the 41CX person), it looks to me like you'd have made 0.15 in your savings account at the end of five years.

If I save the $621.16 over the next five years, I end up with the same net worth, but with the flexibility of spending on something else some month's if necessary (tires?). Along the way, I bet my net worth is simlar as well.
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Old 04-16-2011, 01:42 PM   #2 (permalink)
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I feel the flames coming already!

My heart exists in my right foot. 0 down, rolled in 10k of my audi... $800 a month payment. 30k base price +10k from my audi, 40k loan... Purchased the car at 29 years old. Good thing I'm an aerospace engineer, i pay around $2000 per payment per month. I always have cash for a down, but i was more interested in getting mods going
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Old 04-16-2011, 01:56 PM   #3 (permalink)
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Originally Posted by Nitex View Post
I feel the flames coming already!

My heart exists in my right foot. 0 down, rolled in 10k of my audi... $800 a month payment. 30k base price +10k from my audi, 40k loan... Purchased the car at 29 years old. Good thing I'm an aerospace engineer, i pay around $2000 per payment per month. I always have cash for a down, but i was more interested in getting mods going
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