Comments on: Don’t Waste Money Financing a Car for More Than 3-5 Years http://genxfinance.com/2009/07/30/dont-waste-money-financing-a-car-for-more-than-3-5-years/ Helping a unique generation achieve financial independence. Tue, 16 Mar 2010 14:21:49 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: thesweetmagnolia.com » Blog Archive » Personal Finance Links (Harry Potter / Michael Edition) http://genxfinance.com/2009/07/30/dont-waste-money-financing-a-car-for-more-than-3-5-years/#comment-121472 thesweetmagnolia.com » Blog Archive » Personal Finance Links (Harry Potter / Michael Edition) Sat, 15 Aug 2009 18:37:26 +0000 http://genxfinance.com/?p=1647#comment-121472 [...] Generation X Finance advises readers not to waste money financing a car for more than 3-5 years. [...] [...] Generation X Finance advises readers not to waste money financing a car for more than 3-5 years. [...]

]]> By: Title Insurance Florida http://genxfinance.com/2009/07/30/dont-waste-money-financing-a-car-for-more-than-3-5-years/#comment-121398 Title Insurance Florida Fri, 07 Aug 2009 10:59:49 +0000 http://genxfinance.com/?p=1647#comment-121398 You are absolutely right, most of people not think about their depreciation on cars, depreciation + Maintenance + Time Wasting all need to be count in all this than you can easily get understand. You are absolutely right, most of people not think about their depreciation on cars, depreciation + Maintenance + Time Wasting all need to be count in all this than you can easily get understand.

]]> By: Terry Sands http://genxfinance.com/2009/07/30/dont-waste-money-financing-a-car-for-more-than-3-5-years/#comment-121394 Terry Sands Thu, 06 Aug 2009 17:30:36 +0000 http://genxfinance.com/?p=1647#comment-121394 Evolution - Leased Cars are not dealer maintaned unless the person leasing it pays extra for that. And in most cases, people that lease cars dont pay anything additional for maintenace because they wont have the car long enough for it to make a difference! In my opinion, buying an "off lease" car is not a "plus" as I beleive it has been maintained worse than a normal 2 yr old car... Evolution – Leased Cars are not dealer maintaned unless the person leasing it pays extra for that. And in most cases, people that lease cars dont pay anything additional for maintenace because they wont have the car long enough for it to make a difference!
In my opinion, buying an “off lease” car is not a “plus” as I beleive it has been maintained worse than a normal 2 yr old car…

]]> By: Terry Sands http://genxfinance.com/2009/07/30/dont-waste-money-financing-a-car-for-more-than-3-5-years/#comment-121395 Terry Sands Thu, 06 Aug 2009 17:30:36 +0000 http://genxfinance.com/?p=1647#comment-121395 Evolution - Leased Cars are not dealer maintaned unless the person leasing it pays extra for that. And in most cases, people that lease cars dont pay anything additional for maintenace because they wont have the car long enough for it to make a difference! In my opinion, buying an "off lease" car is not a "plus" as I beleive it has been maintained worse than a normal 2 yr old car... Evolution – Leased Cars are not dealer maintaned unless the person leasing it pays extra for that. And in most cases, people that lease cars dont pay anything additional for maintenace because they wont have the car long enough for it to make a difference!
In my opinion, buying an “off lease” car is not a “plus” as I beleive it has been maintained worse than a normal 2 yr old car…

]]> By: Weekly Roundup - Hands Off My Clunker Edition | Start Living Frugal http://genxfinance.com/2009/07/30/dont-waste-money-financing-a-car-for-more-than-3-5-years/#comment-121391 Weekly Roundup - Hands Off My Clunker Edition | Start Living Frugal Thu, 06 Aug 2009 10:21:17 +0000 http://genxfinance.com/?p=1647#comment-121391 [...] Don’t Waste Money Financing a Car for More Than 3-5 Years [...] [...] Don’t Waste Money Financing a Car for More Than 3-5 Years [...]

]]> By: Weekly Roundup - Hands Off My Clunker Edition | Frugal Dad http://genxfinance.com/2009/07/30/dont-waste-money-financing-a-car-for-more-than-3-5-years/#comment-121390 Weekly Roundup - Hands Off My Clunker Edition | Frugal Dad Thu, 06 Aug 2009 10:01:37 +0000 http://genxfinance.com/?p=1647#comment-121390 [...] Don’t Waste Money Financing a Car for More Than 3-5 Years [...] [...] Don’t Waste Money Financing a Car for More Than 3-5 Years [...]

]]> By: Goran Web | Net Age http://genxfinance.com/2009/07/30/dont-waste-money-financing-a-car-for-more-than-3-5-years/#comment-121380 Goran Web | Net Age Wed, 05 Aug 2009 07:37:28 +0000 http://genxfinance.com/?p=1647#comment-121380 The car is such an accessory, that we tend to really overlook the true costs associated with our gleaming new purchase, and rather look at how much we can afford to spend on vehicle on a monthly basis. What a waste! I've been driving the same car for nine years now, and really love the idea that there are no monthly interest ridden payments to be made to any financial institutions. The car is such an accessory, that we tend to really overlook the true costs associated with our gleaming new purchase, and rather look at how much we can afford to spend on vehicle on a monthly basis. What a waste! I’ve been driving the same car for nine years now, and really love the idea that there are no monthly interest ridden payments to be made to any financial institutions.

]]> By: Evolution of Wealth http://genxfinance.com/2009/07/30/dont-waste-money-financing-a-car-for-more-than-3-5-years/#comment-121349 Evolution of Wealth Mon, 03 Aug 2009 13:09:12 +0000 http://genxfinance.com/?p=1647#comment-121349 How about buying a car that is 2-3 years old that just came off a lease? That way it is dealer serviced and maintained, the worst depreciation is out of the way and it is probably still under warranty. To Midg, wouldn't paying cash for a depreciating asset be the worst investment you could make with your money? Factor in opportunity cost and it's nothing but losing. If you had the free cash you might then have the opportunity to offset some depreciating, obviously depending on the interest rate. It could be a leverage opportunity. Of course having the cash might look like a best case scenario to some. So what do I think the best case scenario is? Loaning yourself the money. Leverage your own assets and don't be reliant on a bank. Imagine that? How about buying a car that is 2-3 years old that just came off a lease? That way it is dealer serviced and maintained, the worst depreciation is out of the way and it is probably still under warranty.
To Midg, wouldn’t paying cash for a depreciating asset be the worst investment you could make with your money? Factor in opportunity cost and it’s nothing but losing. If you had the free cash you might then have the opportunity to offset some depreciating, obviously depending on the interest rate. It could be a leverage opportunity.
Of course having the cash might look like a best case scenario to some. So what do I think the best case scenario is? Loaning yourself the money. Leverage your own assets and don’t be reliant on a bank. Imagine that?

]]> By: Planea Tus Finanzas.com http://genxfinance.com/2009/07/30/dont-waste-money-financing-a-car-for-more-than-3-5-years/#comment-121345 Planea Tus Finanzas.com Sun, 02 Aug 2009 20:27:35 +0000 http://genxfinance.com/?p=1647#comment-121345 I believe that a new car should always be purchased in cash, saving our own money instead of financing it. This way we will always keep in mind how much we can pay, the kind of effort that we need to make and how much it really costs to get. This kind of thinking may lead us to buy a used car instead, or a cheaper new car. I believe that a new car should always be purchased in cash, saving our own money instead of financing it. This way we will always keep in mind how much we can pay, the kind of effort that we need to make and how much it really costs to get.

This kind of thinking may lead us to buy a used car instead, or a cheaper new car.

]]> By: Making Extra Money on eBay Edition | Money Smart Life http://genxfinance.com/2009/07/30/dont-waste-money-financing-a-car-for-more-than-3-5-years/#comment-121344 Making Extra Money on eBay Edition | Money Smart Life Sun, 02 Aug 2009 20:20:00 +0000 http://genxfinance.com/?p=1647#comment-121344 [...] Generation X Finance might save you some money when financing a car. [...] [...] Generation X Finance might save you some money when financing a car. [...]

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