Dealer Question??
Elder User
Joined: Oct 2003
Posts: 653
Likes: 0
From: Florida
I can't claim the credit. After I bought my 98 'vette for cash, a friend of mine explained the economics of the situation to me. I hate having a car payment, but it does make good sense, particularly if you can take the interest as a tax deduction, or if the 5 rate is low enough to be offset by investments.
Thread Starter
|
Junior User
Joined: Dec 2003
Posts: 96
Likes: 0
RGR that HJUDGE I will take 10,000 and put it under my matress persay and make car payments out of it. The other 30,000 I will invest and off set the intrest. Now I am on the hunt for some good financing do you have any reccomendations?? Oh by the way thanks!!
Senior User
Joined: Jan 2002
Posts: 270
Likes: 0
From: Okinawa Japan
Not for sure but a buddy of mine talked to a bank and somehow loaned himself money through the bank, where the bank and himself both made a percentage. I have had him tell me how but I don't figure I will ever have enough to loan myself 40,000.
Senior User
Joined: Jun 2003
Posts: 401
Likes: 0
From: Stockton, CA.
Lease It, no money up front. I did my truck, I own a trucking company so every payment is a wright off for 60 month's @ 450.00 with a 10,000 payoff at the end that you can refinance or let it go back if you want to, that way if the truck is not worth 10,000 at the end of the lease you don't get hit with the depreciation. no tax, lic. fee's. (closed end lease)
Senior User
Joined: Jun 2003
Posts: 401
Likes: 0
From: Stockton, CA.
Originally posted by Mizzou
CD
How many miles a year do you get with your lease. If you drive thousands of miles a year doesn't it cost allot more?
CD
How many miles a year do you get with your lease. If you drive thousands of miles a year doesn't it cost allot more?
I'm set up for 12,000 a year, I Can stay within that range. But the mileage thing will only apply if you turn the truck back in after the lease. And i was going to keep it.
Thread
Thread Starter
Forum
Replies
Last Post
