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I got hired!! So happy.
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Anyone have the CTFA designation?
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I got hired!! So happy.
Anyone have the CTFA designation?
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@FA2 it’s not overspending if it is within your budget and they charge you virtually no interest??? How do you not get that rather than dump $25k into a depreciating asset that I would rather put that money to work in my business and get a loan for 2% interest and then get whatever $ I do put into the car over my period of ownership back when I sell it? That’s like simple arbitrage. If I can spend $25k on marketing my business or any other investment and get more than 2% return on that money then why would I put it into a car??
@FA5 thank you for dropping some knowledge on these fools, exactly what I do and for the exact same reason. As long as rates are this low no reason not to use them. Buying a couple years old way better than lease rolling.
The ad hominem attacks illuminate deep insecurities. Some folks don't feel the need to cling to their shiny new cars as a measure of self worth.
FA4 seems like a real ray of sunshine. "Don't agree with me? You're an idiot" Would love to be a fly on the wall in your meetings when clients don't agree with you.
2012 Toyota corolla 18k, fully paid
2007 honda civic. I am the original owner and have over 100k miles on the car. I paid about 22k in cash when it was new.
98 lexus bought 5 years ago for 6k for cash. Old reliable so far I plan on driving it till the wheels fall off.
Did anyone else read this questions and first response was : “who gives a shit what cars we drive?”
It’s a fricken car.. if anyone judges you for that they’re a loser.
Anybody with me?
@FA5.. thanks! Make no mistake though, sh is a head turner and the my clients love it. Not too mention it’s a great ice breaker for meeting new folks as well.
2009 Infiniti G37S. Purchased new for $42k and paid it off relatively quickly. It still runs great. Had my first real repair 2 weeks ago to replace coolant hoses. No desire to spend money on another car.
Why in the world are any of you buying cars in cash or paying them off in total? Literally you are sinking cash into something that depreciates like hell. I’ve always bought cars a couple years old like my current Bmw 3 series that was a CPO and put the least amount of money down and financed the rest. Literally get interest rates of 1.99% for a 6 year loan and I’ve never once lost money when I’ve gone to sell. Usually I end up making a bit more than what my loan payoff is and I sell and get something new that’s still in warranty every three years or so. Even if I kept the loan through the entire term the amount of interest I would pay adds up to a few hundred dollars. Believe me my money can work harder than 1.99% by me putting it into my business and marketing more, anyone buying a car in cash is insane in my opinion
Like I said on another thread, unremarkable luxury. Bought a 2011 G37x two years ago for $19,900 with 32k miles. Financed it at 3.35% for 5 years. Will drive it for 7'ish and then give it to one of my kids with 150k+ miles on it. Had a 2004 Volvo S60 before and bought it also at 32k miles (I always buy lease returns) and put 285k miles on it over 10 years then gave it to my daughter. She drove it two months then totaled it in a freeway accident. Very glad she was in that Swedish tank. But back to the question, my total cost of ownership is way lower than rolling a lease every three years but only because I average 25k miles a year. And the financing angle is only become of the stupid low rates but that won't last forever and I'll consider more/all cash at that point.
2007 GMC Sierra crew cab, paid $12k for it 7 years ago. 230k miles on it now.
2008 Nissan Altima. No debt. 213k miles. Still runs like a champ.
2017 bmw lease
Debt hides the true price of the car. Most people I know that overspent on a car wouldn't not have overspent if they had to come up with the cash. Why do you want to be endlessly in debt on a depreciating asset?
2017 GMC Denali
.....you are retarded, eventually your car will break and you will buy a new one again and then you will have spent the same amount as me. Also you have been driving around in a piece of shit for 10 years.
Hmm 6k and it's going strong after 5 years I expect to get another 5 years easy. 600$ a year. Versus 400$ a month for 10 years is 48,000$ and you have very little to show for it after 10 years. You think my approach doesn't make financial sense?
63 Lincoln Continental, bought for 5k, paid cash. Best car ever.