10-09-2009, 12:09 PM
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#8 (permalink)
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Base Member
Join Date: Sep 2009
Location: NC
Posts: 27
Drives: 2010 335i
Rep Power: 16
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Quote:
Originally Posted by JoeD
Paying cash makes sense...if you can't manage your money.
I don't think it makes much sense to tie up a liquid $40K when you can get a much higher rate of return properly invested/traded than what you pay on a car-loan. Of course, I do that for a living so others might not have the means and know-how to make money in the markets daily, but I can guarantee you almost all broad-based ETFs and non-speculative US equities will rise significantly more than 5-6% within the next year, roughly the APR one would pay on a car-loan.
With every car I've financed, however, I've put down 50% rounded up to a nice, whole number. That is of course if there isn't a good promotional lease-offer from the manufacturer, as depending on the circumstances, leasing is the best way to go...
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No offense, but if you can do much better putting your money elsewhere, why would you put 50% down? Why wouldn't you borrow as much as you possibly could - my credit union will finance 110%.
To answer the OP's question, I paid cash because debt is a dumb thing to have. Debt = risk.
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