Quote:
Originally Posted by Matt Monson
And that was what? $8k? $10k? $250? $300/mo? It’s not the same thing and anyone who pretends it is is only kidding themselves. A guy who needs to finance a 993 in today's market can’t really afford the car.
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I think one of the biggest issues is if you can't afford to buy the car, or the vast majority of the purchase in cash... and something goes wrong with it. I.E. Needs a trans, engine build or seal etc... they are in deep $h1t.
We tend to be super conservative with buying anything with finance. Others think nothing of having two $60-70k 72-84 month notes on quickly depreciating luxury vehicles and a 30-year note on a $200k motorhome... and on top of that, a home mortgage. While not for us, I'm sure its fun while it lasts!
With that said, when I was in my mid 20's I refinanced a car that we had paid off to purchase my FFR Cobra kit. Probably a stupid thing to do for a freshly married couple and a new home mortgage. All in all, I would have done it again in a heartbeat... Sometimes those risks pay off as it was the link to an incredible amount of fun and the catalyst for meeting many of our life long friends.