When I turned 16 my parents bought me a car. The car was a 2002 Infiniti G20 and only had 40k miles on it. It was a great car and sometimes I still miss it. But it became time to move on!
Sevin is now in the market for a car! I’ve been in the market for a little bit but haven’t figured out what I want. I’m not too picky but I want something that is reliable. I’m still trying to decide whether I want to pay cash, or make a down payment and get a loan or lease the vehicle. People can make cases to benefit one way or the other. Obviously every situation is unique.
I’m curious what car you have and what financing you did with your ride!
Suggestions for cars or more than welcomed!
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My suggestion is to pay cash. Unless you are using it for a business where it is a tax write off. Leasing is much like a Strip Club, the money goes out but it will never be yours. LOL. Good luck in your search.
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Good point!! I have considered buying a car large enough to qualify for a 100% bonus depreciation as well!
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Haha has that’s the best description of leasing I’ve ever heard.
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Cash only, every time. Always used. Probably just like your grandparents purchase.
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Thanks! I appreciate your advice!
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What do you need your new car for? Getting from A to B? Hauling furniture dangerously?
Carrying bundles of silver?
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Mainly getting from A to B. I’ll take it on some road trip and may occasionally haul furniture In or on it!
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I've always liked Edmunds.com to get reasonable pricing information on cars I'm interested in and you can also look at their calculator which compares low apr financing vs cash rebates. Have fun car shopping!
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Okay, I’ll check that out! Thank you! I figured if I could get a loan with a low enough interest rate and buy a cash flow producing asset to offset it that may be the way to go!
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I don’t know how car financing works over in the USA. We have middle option where you take a Ioan with the car as collateral. You pay it off and own it at the end. Some car company’s have promos where they do near zero finance so even though you pay a small premium in the price you come out way in front any your capital can do more productive things. Australia is a bit different though. Our car manufacturers have now all closed, all our cars are imported and I believe we pay much more for cars. We bought a Hyundai Accent for $17k on 3 years zero interest deal. Cash price was only about $500 less so it was a good option.
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