financing

there's such a thing as being too financially risk averse. Avoiding all debts is a bad idea

>>17228122
this. having a credit rating is important for getting loans. so if you take a loan on a car and pay it all back it'll make getting a future loan easier.

>>17228108
This picture is really bothering me, he's holding a Toyota key but the car in the picture is an Infiniti.

>>17228122
>>17228129
Taking a loan on a depreciating asset is plain robbery. Getting a mortgage makes sense since it's relatively secure.

>>17228108
I took a loan on my first car but I had literally no established credit. If I pay off this car I'm never taking a loan again but I done it just to establish some credit even though I could've got a credit card but I needed a car and didn't have enough cash to buy even a "cheap" car.

I'd never take a loan on an expensive car though. I owe $6k on my car. Also if I have to get a loan in the future, I won't have such high interest as I do now unfortunately. Fucking kikes.

>>17228151
A car is a tool. It's value is in other ways, not just monetary.

>>17228108
>*ever*
I guess you came out of your mother's cunt perfect and rich

>>17228108
depends on how much you make, and how much the loan is for. if its a vehicle you can write off then your stupid for NOT buying a vehicle you can write the loan off for.

depending on how much tax burden you have, buying multiple vehicles could very well net you a new car/truck for little out of pocket. For instance.

your company makes you 100k a year, and at the end of the year you owe about 30k in taxes (give or take, its a for instance). Now that money could go literally into the garbage sent to the state/gov or you could write off a portion of it every year such as buying vehicles, shop equipment, tools etc.

So you go out and buy a 30k car, and a portion of that is written off as a business expense every year, so instead of the loan being 30k, its significantly less.

>>17228151
Throwing tens of thousands down immediately is one of the dumbest moves unless you can only net yourself interest rates that are over the inflation rate, in which case, you should only be looking at $3k shitboxes.

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>It's another financially illiterate faggot whose knowledge of money doesn't go any further than "debt = bad"

>tfw by holding on to the bulk of my savings and financing a car now with a modest car payment and making small purchases on my security-secured low interest rate credit card I'll have a robust credit history and a good score to ensure I have the lowest possible interest rate available when i buy a house, saving me tens if not hundreds of thousands of dollars as well as letting the money i didn't put down on my loans work for me, almost always yielding a higher return than the interest I pay on the loaned money

>>17229463
>Security-secured low interest rate credit card
>Credit rating

That's some third world shit you've got going there.

>not getting zero-interest loans from your family

lol

>>17228108
>very poor, very stupid
That describes most of America

>>17229567
>not getting %0 loans from your family and then not paying them back for maximum financial stability

Why are people on /o/ so retarded when it comes to finances?
Paying cash can be just as dumb as taking a loan, depending on the situation.

>>17229589
>americans
>poor
poor in america just means you have to eat non brand stuff and live in big houses that are already 20 years old

Loans can be had for 2-3% p.a.
My investments yield 10-20% p.a.
It would be retarded NOT to take the car loan.

>>17228164
Have you ever tried to refi now that your credit is better? Possibly lower rate

>not financing the cheapest car you can find, barely driving it and paying it off in a couple years when you're 18-22 so the Jews love you and give you 0% on a rice model

Buy a shitbox and park the new.
Trade it in at high value and you'll be buying a SS Camaro for the cost of a hyundai.

I was both. Credit rating is pretty much maxed now, but there are no cars worth buying new. Car looks pretty dated now, but I can't argue with the maintenance costs.

Thanks for the great thread. This is a positive influence on the

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>>17228108

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>>17228108
False

If you have good credit, you should be able to get an interest rate that is lower than the rate return you can expect to receive by investing ,only over the course of the loan rather than putting that money down all at once. If that doesn't make sense to you, then ask yourself whether you'd take a 0% loan rather than pay all at once. Of course you would, because paying in installments gives you more financial flexibility. It's the same principle, just relative to your APR and what you do with your savings.

>>17228151
The car depreciates whether you take out a loan or not. What matters is that you get your money's worth out of the car. Selling a new car while you're still making payments means you either picked a disastrously bad car, got in a financial bind, or aren't even trying to be thrifty.

>>17228165
yes. and financing tools is what poor retards do

>its stupid to take a manageable loan out on a vehicle to build credit more exponentially than a credit card will get you

ok anon

>>17228108
OP is a faggot, as usual.

>>17228108

back on the bus.

>>17228108
People who say things like this are poor or stupid.

>>17231181
>Why are people on /o/ so retarded when it comes to finances?
You have to realize that most of /o/ has shitboxes. Like having a 2015 Mustang GT already puts you into the 1% of /o/ that owns a non shitbox.