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My mother is 86. I've actually been living on my own for a few years...
lol
wow, i would hate to have ~800 / month car payments for 5 years...but then again, if you got a 0.9 financing rate, i guess it's all gravy in the end. better off having it in the stock market or something...well actually if i put my down payment in stocks back then i'd be screwed now lol.
wow, i would hate to have ~800 / month car payments for 5 years...but then again, if you got a 0.9 financing rate, i guess it's all gravy in the end. better off having it in the stock market or something...well actually if i put my down payment in stocks back then i'd be screwed now lol.
By the time you reach 3 years into the payment, the raise from your job should cover most if not all the payment already.
By the time you reach 3 years into the payment, the raise from your job should cover most if not all the payment already.
From what I've been reading... most of the people on this forum (from a financial planner's point of view) ought to be purchasing USED Honda civics and paying them off in a year or two and be debt free for years. Do the young folks understand "opportunity cost" and "future value of money"? Instead of paying $7,000 per year in lease/finance costs on a G37... if you paid $3,000 per year on a car and invested the remaining $4,000 per year in an IRA... when it came to retire you'd have $500,000 per year for each year you chose to forego the car bling and invested $4,000! A 4-yr lease could be worth $2 MILLION in retirement (based on stock market 50 yr avg of 10.5%/yr).
Do the young folks understand this? You're not going to be young forever!
From what I've been reading... most of the people on this forum (from a financial planner's point of view) ought to be purchasing USED Honda civics and paying them off in a year or two and be debt free for years. Do the young folks understand "opportunity cost" and "future value of money"? Instead of paying $7,000 per year in lease/finance costs on a G37... if you paid $3,000 per year on a car and invested the remaining $4,000 per year in an IRA... when it came to retire you'd have $500,000 per year for each year you chose to forego the car bling and invested $4,000! A 4-yr lease could be worth $2 MILLION in retirement (based on stock market 50 yr avg of 10.5%/yr).
Do the young folks understand this? You're not going to be young forever!
Dr.
I agree, some of the APR I seen are pretty insane...