For the people who bought your sedans by yourself. Do you guys pay it off monthly, lease it, or just pay it off on the spot? I have about 10k saved up right now and im not sure if i should buy my sedan now and try to pay it off or wait 2 years and pay it off on the spot.

 

Buy it now! I financed the hell out of mine and I have to say, $400 a month is a lot easier to say yes to than >$20K cash out of my bank account. Get a loan with no penalty for prepayment, best of both worlds.

 

buy it now no point in waiting life is short

 

My dad had originally leased out the car. I decided to buy it from at the end of the lease.

He put all the money on the table and I put a lump sum as a down payment to him. I now just pay him monthly.

 

I made enough on the sale of my last house to pay cash for mine and put down 20% on another house. Got lucky.

 

I used the insurance money from my previous totaled car (Lexus ES300) to pay off my G35 up front. Got very lucky

 

i put $5k down and did a 36 month loan @ 1.9% APR...so i pay $717.91 each month...I owe around $10k now...can't wait to pay it off...

 

Damn $717 a month I bet you dont like to write that check.

 

I borrowed to the . The world was built on credit.Get it now!

 

I borrowed to the . The world was built on credit.Get it now!

 

yeah...that's why it's automatic withdrawal from my checking...even though it's technically the same, i feel less pain

 

Depends on who is giving you the cheapest dolla!

Simple equation...goes good with houses or cars so i'll use simple math.

If the loan is for $100,000 and you are paying 5% interest you are going to pay $5,000 in interest the first year (we are using simple numbers here, I am getting my Master's in Finance from a reputable college and a stockbroker for a top wall street firm for 2 years so don't start flexing on me!)

If you took cash of 100,000 and invested it, the question is : could you make more than $5000 that year...if the answer is YES then you let the bank buy the car and you invest the money, if the answer is NO then you have to think about it.

Never pay cash for a house ... crazyiest thing i ever heard unless the current interest rates are higher then you can make in the market doing semi-moderate investing!

I would bet that you can make more money with your cash...so with cars' and houses' ... damn skippy, make the other guy (bank) pay the interest ... you may make more in the market covering your premium as well and that is just a freeeeeee car (house) !!!!!

you just need a couple things:
disipline to hold the cash and invest it
good record keeping

alright i'm done here.

 

/\ correct

 

Paid cash. I prefer to avoid paying interest in any situation. I don't ever carry a credit card balance and am paying off the home in 6 years (15 year loan).

 

paid cash.

get a great paying job, don't make foolish financial decisions like impulse buys, and invest wisely. to the victor goes the spoils (i.e. G units).