|
In general I agree with paying cash if you can swing it. The banks keep the interest rates on car loans up fairly high, so the money is "expensive" (unlike major business financing or home mortgages, which are pretty cheap lately.)
I financed my first Porsche thru my credit union, less than a year after graduating from college. (This was...ahem...a while ago). I had no other debts at the time, no cash/assets but a good job, and the ~$225/mo payment was no sweat. Nowadays I try to pay cash for as much stuff as possible, including cars. Being in debt sucks. Got the killer mortgage and the wife's killer student loans already - no need to make it worse.
__________________
Chris C.
1973 914 "R" (914-6) | track toy
2009 911 Turbo 6-speed (997.1TT) | street weapon
2021 Tesla Model 3 Performance | daily driver
2001 F150 Supercrew 4x4 | hauler
Last edited by campbellcj; 11-04-2002 at 07:36 PM..
|