You Can't Make This Stuff Up!

[Lee Stewart]

If you have to finance a car for more than 5 years (60 months), you can’t afford that car

[Mr70]

Vintage pic,cause it's officially Winter.

[big gear head]

We had a track like that here when I was a lid. I wasn't old enough at the time to get to play on it, but I watched my uncle do it.

[muscle_collector]

Originally Posted by Lee Stewart

If you have to finance a car for more than 5 years (60 months), you can’t afford that car

my dad always told me that if you have to finance it period you cant afford it.

[Lynn]

my dad always told me that if you have to finance it period you cant afford it

Exactly. I haven't made a car payment since 1970. 33 bucks a month for my 57 Chevy.
If I can't pay cash, I don't buy it.

[Mr70]

Not necessarily true,back in May of 1989,I ordered a brand new IROC Camaro.
GMAC was offering 2.9% financing,while my savings account was paying me 6.5% interest.
I had the full car amount in cash,but chose to finance the entire amount because of that Low 2.9%,while earning 3.1% bank interest on the same amount.

[muscle_collector]

Originally Posted by Mr70

Not necessarily true,back in May of 1989,I ordered a brand new IROC Camaro.
GMAC was offering 2.9% financing,while my savings account was paying me 6.5% interest.
I had the full car amount in cash,but chose to finance the entire amount because of that Low 2.9%,while earning 3.1% bank interest on the same amount.

while I have been very fortunate and always paid in full for every vehicle I buy without financing, before my dad passed I reminded him of his teachings and asked him to explain why it wasn't a smart move to take advantage of gm's zero financing. of course he says it is just a ploy that they have just raised the price to compensate that and you can get a better deal to opt out of it. lol he was probably right.

[Lee Stewart]

[Lee Stewart]

[Lee Stewart]