Gap Insurance?
Posting Guru
Joined: Jul 2004
Posts: 1,479
Likes: 4
That's just it by paying the extra amount per month you don't invest the difference of $250. You're assuming you can make the investment while making the higher payments. I am just making an apples to apples comparison based on what BIg d posted, not funny marh just pretty straight forward! Based on your aveerage American in debt statement mine scenario is closer to reality!
Senior User
Joined: Jan 2006
Posts: 289
Likes: 0
From: North Texas
Originally Posted by KevinM
That's just it by paying the extra amount per month you don't invest the difference of $250. You're assuming you can make the investment while making the higher payments.
If I only invest the DIFFERENCE between the higher payment and the $250/month, I invest $40.35/month. At the end of the term I have $2,815.22.
My investments have now netted me $6,422.34 and yours have netted you $2,422.51. Unlike yourself, I didn't have to put down any money up front and we had exactly the same monthly payment. Excuse me, I have to go. I have $4,000 to spend...
Posting Guru
Joined: Jul 2004
Posts: 1,479
Likes: 4
You don't get it! I am only taking the difference your math assumes you can still invest! Based on your soap box speech that Americans live beyond their means your assumption is non consitant with your proclaimation. One who has the large down payment probably does not live beyond their means due to cash availability. One thing I know for sure I would not leave my retirement investments with you! Your assumptions exceed reality!
Nuff said!
Nuff said!
Senior User
Joined: Jan 2006
Posts: 289
Likes: 0
From: North Texas
Originally Posted by KevinM
You don't get it! I am only taking the difference your math assumes you can still invest! Based on your soap box speech that Americans live beyond their means your assumption is non consitant with your proclaimation. One who has the large down payment probably does not live beyond their means due to cash availability. One thing I know for sure I would not leave my retirement investments with you! Your assumptions exceed reality!
Nuff said!
Nuff said!
No, You still don't get it. I took your fuzzy math and actually put it to pen and paper. Assuming ONE buyer in the position to make either decision, I showed you that it didn't make sense to put the cash down. That's all.
One who has the large down payment probably does not live beyond their means due to cash availability.
Remember, we're talking about a financial decision here, not two different people in two different situations. Are you going to continue adding variables or can we leave well enough alone?
Based on your soap box speech that Americans live beyond their means your assumption is non consitant with your proclaimation.
One thing I know for sure I would not leave my retirement investments with you!
Your assumptions exceed reality!
'Nuff said.
Postmaster
Joined: Nov 2004
Posts: 2,511
Likes: 0
From: Marion, VA
I retired debt free at 55 with all the toys I wanted (new truck, camper, nice house, motorcycle, etc) with a simple plan I followed all my life and it lets one avoid problems such as gap insurance, etc. It is very simple:
You can charge necessities but you always pay for luxuries.
A house is a necessity so you can charge that.
A car/truck is a necessity so you can charge that. However a good car/truck is a luxury and you don't charge luxuries.
I was teased for many years by my fellow workers for being tight and cheap but I'm retired and they are still working with a mountain of debt. Work is highly overrated and it's nice to not punch a clock and still be able to buy the toys you want.
You can charge necessities but you always pay for luxuries.
A house is a necessity so you can charge that.
A car/truck is a necessity so you can charge that. However a good car/truck is a luxury and you don't charge luxuries.
I was teased for many years by my fellow workers for being tight and cheap but I'm retired and they are still working with a mountain of debt. Work is highly overrated and it's nice to not punch a clock and still be able to buy the toys you want.
Posting Guru
Joined: Jul 2004
Posts: 1,479
Likes: 4
Your'e the one who made the speech, tailored and sku's your assumptions to meet your results, not good financial strategy! Nothing like back engineering! My numbers do work! It's simple math, and BTW if my fiancial approach on things were off as you have eluded to, I think I would be in a world of hurt. My investments are doing very nicely thank you, and I should be retired in about 2 years debt free, not even close to 60, and a very nice nest egg! So go on with your elusions of grander and lets see how you do in the end!
osbornK - well said!
I'm done!
osbornK - well said!
I'm done!
Last edited by KevinM; Oct 6, 2006 at 09:07 AM.
FTE Stories
Ford Trucks for Ford Truck Enthusiasts
2027 Ford Super Duty Buyer's Guide (Every Model, Engine, & Package)
Brett Foote
Top 10 Ford Truck Tragedies
Joe Kucinski
AEV FXL Super Duty - the Super Duty Raptor Ford Doesn't Make
Brett Foote
Lobo Vs Lobo: Proof the F-150 Lobo Should Be Even Lower!
Michael S. Palmer
Ford's 2001 Explorer Sportsman Concept Looks For a New Home
Verdad Gallardo
10 Best Ford Truck Engines We Miss the Most!
Joe Kucinski
2026 Shelby F-150 Off-Road: Better Than a Raptor R?
Brett Foote
2027 Super Duty Carhartt Package First Look: 12 Things You NEED to Know!
Michael S. Palmer
10 Most Surprising 2026 Ford Truck Features!
Joe Kucinski
Thread
Thread Starter
Forum
Replies
Last Post
