Quote:
Originally Posted by smokintr6
That's an incredibly dated attitude, and its a great recipe for sitting at home and waiting until you get old and die. There are a litany of reasons why financing a toy can actually be a good idea while still living well within one's means.
Personally I was daily driving 2 older vehicles that were paid off, and I specifically decided to buy a new F150 this year with financing. I want to have a reliable new vehicle if the world goes to crap, and I want the debt of the truck to be anchored in a 2020 dollar amount, and paid back with potentially hyper inflated 2022 dollars if the worst happens.
good reading about financing toys here:
https://rennlist.com/forums/911-forum/1205936-financing-a-classic-porsche.html |
I'm guessing Adam was referring to toys as in 2nd or 3rd vehicles to play with, not new pickups or SUV's. His logic would be it isn't smart for someone who can't afford an air cooled 911 to begin with to justify owning it by financing. New cars have predictable time honored rates of depreciation, antique cars do not. It's not a smart financial decision to buy an old car that way, that's all.