Comments on: Don’t Waste Money Financing a Car for More Than 3-5 Years http://genxfinance.com/dont-waste-money-financing-a-car-for-more-than-3-5-years/ Helping a unique generation achieve financial independence. Thu, 09 Feb 2012 18:21:30 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: john http://genxfinance.com/dont-waste-money-financing-a-car-for-more-than-3-5-years/comment-page-1/#comment-246502 john Thu, 21 Apr 2011 09:16:11 +0000 http://genxfinance.com/?p=1647#comment-246502 i think its better just to pay a car for in cash. a used reliable car. why make paments on a car, regardless of how much interest you will pay. a car depreciates and is not considered an asset. making car payments on a used car is just plain insane and stupid. Look, if a person does not have the cash to pay for a car, then they should not drive, but take the bus instead. this is my opinion. i bought a used honda civic, and paid cash, 6,000.00 dollars. i have had the vehicle for 9 months now, and the car has given me no problems. the only thing i pay for is my insurance, but NO CAR PAYMENTS. its an awesome feeling. Just buy a good reliable used car, and try to pay it off in cash. You will be a much happier person. i think its better just to pay a car for in cash. a used reliable car. why make paments on a car, regardless of how much interest you will pay. a car depreciates and is not considered an asset. making car payments on a used car is just plain insane and stupid. Look, if a person does not have the cash to pay for a car, then they should not drive, but take the bus instead. this is my opinion. i bought a used honda civic, and paid cash, 6,000.00 dollars. i have had the vehicle for 9 months now, and the car has given me no problems. the only thing i pay for is my insurance, but NO CAR PAYMENTS. its an awesome feeling. Just buy a good reliable used car, and try to pay it off in cash. You will be a much happier person.

]]> By: Title Insurance Florida http://genxfinance.com/dont-waste-money-financing-a-car-for-more-than-3-5-years/comment-page-1/#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/dont-waste-money-financing-a-car-for-more-than-3-5-years/comment-page-1/#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/dont-waste-money-financing-a-car-for-more-than-3-5-years/comment-page-1/#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: Goran Web | Net Age http://genxfinance.com/dont-waste-money-financing-a-car-for-more-than-3-5-years/comment-page-1/#comment-121380 Goran Web | Net Age Wed, 05 Aug 2009 06:37:28 +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/dont-waste-money-financing-a-car-for-more-than-3-5-years/comment-page-1/#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/dont-waste-money-financing-a-car-for-more-than-3-5-years/comment-page-1/#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: pays to live green http://genxfinance.com/dont-waste-money-financing-a-car-for-more-than-3-5-years/comment-page-1/#comment-121335 pays to live green Sat, 01 Aug 2009 14:34:42 +0000 http://genxfinance.com/?p=1647#comment-121335 I hate it when car salesman try to sell you a car by the monthly payment and not the actual cost for a car. When I was searching for a car, many would quote the lowest monthly payment instead of the actual price of the car. Whenever shopping for a car, always ask for the full price and not monthly payments and try to avoid financing through them if you can get just as good of a rate through a local credit union or bank. I hate it when car salesman try to sell you a car by the monthly payment and not the actual cost for a car. When I was searching for a car, many would quote the lowest monthly payment instead of the actual price of the car. Whenever shopping for a car, always ask for the full price and not monthly payments and try to avoid financing through them if you can get just as good of a rate through a local credit union or bank.

]]> By: Jerry http://genxfinance.com/dont-waste-money-financing-a-car-for-more-than-3-5-years/comment-page-1/#comment-121330 Jerry Fri, 31 Jul 2009 23:35:17 +0000 http://genxfinance.com/?p=1647#comment-121330 These are valid points, assuming the purchase is of a new vehicle. However, buying a late model new car can also lead to great savings and even less in some ancillary costs (for insurance, etc.). Jerry These are valid points, assuming the purchase is of a new vehicle. However, buying a late model new car can also lead to great savings and even less in some ancillary costs (for insurance, etc.).
Jerry

]]> By: Tips to save money http://genxfinance.com/dont-waste-money-financing-a-car-for-more-than-3-5-years/comment-page-1/#comment-121321 Tips to save money Fri, 31 Jul 2009 11:27:47 +0000 http://genxfinance.com/?p=1647#comment-121321 That's a great point of view you've given there Jeremy. I'll be reading more articles on your blog to get some more serious advice from you. That’s a great point of view you’ve given there Jeremy. I’ll be reading more articles on your blog to get some more serious advice from you.

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