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General Category => General Discussion => Topic started by: The Shadow on June 29, 2008, 07:17:47 PM

Title: Brand new Cars Are Making You Poor/ Good article
Post by: The Shadow on June 29, 2008, 07:17:47 PM

This seems like good advice.  I agree with it.   I don't think this applies for just people in their 20's. It's good advice for any age.  The main point is, run the wheels off your old car, and save for buying a new one in the mean time.  Try to pay the bulk of your new car in cash, and don't lease.

I have one disagreement with this article:  I say if you've been saving hard for a car you really want, and are able to pay cash for it, and you're a hard working fellow, then get it!! 


http://youngprofessionalfinance.com/serendipity/archives/86-Brand-New-Cars-Are-Making-You-Poor.html

Title: Re: Brand new Cars Are Making You Poor/ Good article
Post by: The Shadow on June 29, 2008, 07:19:01 PM

In other words, spend the extra $10,000 and get what you reaLLY WANT

Title: Re: Brand new Cars Are Making You Poor/ Good article
Post by: Johnson Brown on June 29, 2008, 07:28:37 PM

Also if you have very good credit and can get 0% financing do that and leave your money in the bank, maybe try to get a few cds, just split it up.  Say you have the $20,000 in cash and will need it for your car payments, get a few cds that mature at different dates.