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  #13  
Old 01-07-2012, 10:06 AM
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Re: To Trade or Not? Need opinions ASAP

<$0.02> If all other things are equal, rates, length etc. you are paying monthly for your vehicle. Every month you'll sit down and write a check or tap some keys on a keyboard and send your hard earned money away for your transportation. That's what is transportation, not an investment. I for one want to make that check writing experience as painless as possible, and paying for a vehicle you really enjoy driving makes it easy for me. Depending on the length of financing, with that many points to reflect on your purchase, if you're entirely satisfied with your vehicle it won't be that bad, but if every time you regret not getting the color, option model, etc, it will suck.

If you can afford it, get what you need and want. </$0.02>
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  #14  
Old 01-07-2012, 10:15 AM
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Re: To Trade or Not? Need opinions ASAP

I understand people can get upset with my comments and that is ok. Deep down they know I'm right and is the reason why they get upset. Btw, I'm a married adult with kids and don't live with mommy and daddy. I've also worked my whole life and own everything we have because I paid cash for it. We started with cheap cars and a small house. Then kept moving up over time while saving for it and investing. It seems nobody believes in doing it the right way anymore.

Btw, buying a JGC is not investing. So if you pay cash or finance you still have something that will be worth nothing some day. So how much do you want to pay for that vs. actually investing your money is something you decide.

I'm really looking forward to see where they price the diesel!
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  #15  
Old 01-07-2012, 10:29 AM
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Re: To Trade or Not? Need opinions ASAP

Quote:
Originally Posted by jacobsed View Post
I've also worked my whole life and own everything we have because I paid cash for it.
That's nice, but not the smartest thing to do financially. You could get into a short term loan, 0.9% for example, then put rest of the cash to work to make more than a 0.9% return.
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  #16  
Old 01-07-2012, 10:59 AM
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Re: To Trade or Not? Need opinions ASAP

A 0% - .9% car loan would be for 3 years. The point difference on a short term investment for 3 years is nothing. Nobody gets rich playing the spreads on tiny interest differences for 30 - 40K over 3 years. People do get rich by being debt free and investing their money for the long term in growth stock mutual funds.
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  #17  
Old 01-07-2012, 11:01 AM
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Re: To Trade or Not? Need opinions ASAP

Facepalm.

carry on.
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  #18  
Old 01-07-2012, 11:20 AM
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Re: To Trade or Not? Need opinions ASAP

Quote:
Originally Posted by jacobsed View Post
I understand people can get upset with my comments and that is ok. Deep down they know I'm right and is the reason why they get upset. Btw, I'm a married adult with kids and don't live with mommy and daddy. I've also worked my whole life and own everything we have because I paid cash for it. We started with cheap cars and a small house. Then kept moving up over time while saving for it and investing. It seems nobody believes in doing it the right way anymore.

Btw, buying a JGC is not investing. So if you pay cash or finance you still have something that will be worth nothing some day. So how much do you want to pay for that vs. actually investing your money is something you decide.

I'm really looking forward to see where they price the diesel!
Thanks for your input.. However, I work hard and play hard.. So, now that I got your point, feel free to move on..

Quote:
Originally Posted by jacobsed View Post
A 0% - .9% car loan would be for 3 years. The point difference on a short term investment for 3 years is nothing. Nobody gets rich playing the spreads on tiny interest differences for 30 - 40K over 3 years. People do get rich by being debt free and investing their money for the long term in growth stock mutual funds.
Ok, find your own thread to offer financial advice...

Well, I decided on trading this in and getting the Limited and I'm heading out now to do the paperwork.. You only live once...

Thanks for most everyone's reply and thoughts.
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  #19  
Old 01-07-2012, 11:40 AM
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Re: To Trade or Not? Need opinions ASAP

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Originally Posted by JDrew View Post
Thanks for your input.. However, I work hard and play hard.. So, now that I got your point, feel free to move on..



Ok, find your own thread to offer financial advice...

Well, I decided on trading this in and getting the Limited and I'm heading out now to do the paperwork.. You only live once...

Thanks for most everyone's reply and thoughts.
Good on ya, JD! You said it yourself: "You only live once!"
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  #20  
Old 01-07-2012, 11:53 AM
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Re: To Trade or Not? Need opinions ASAP

Quote:
Originally Posted by jacobsed View Post
I understand people can get upset with my comments and that is ok. Deep down they know I'm right and is the reason why they get upset. Btw, I'm a married adult with kids and don't live with mommy and daddy. I've also worked my whole life and own everything we have because I paid cash for it. We started with cheap cars and a small house. Then kept moving up over time while saving for it and investing. It seems nobody believes in doing it the right way anymore.
All of that is great for you, but keep your unsolicited opinions to yourself. If someone starts a topic asking if they should buy or pay cash, fire away, but my problem with you is that you take any mention of financing and turn it into this "You're right and everybody else is an idiot" tirade, and thats the definition of a "troll".

I'm glad that philosophy works for you. I disagree, I would never pay cash for a car when I can get financing for free, or 1.9%. I would never pay cash for a house ever probably because of the fact that the mortgage interest, which is also absurdly low, is tax deductible. Just because I don't feel that way doesn't mean I don't have the cash, I'd just like to keep my cash for investing.

In any event, what I do is none of your business, and what you do is none of my business. So, like I said before...keep your unsolicited opinions to yourself. The vast majority of carbuyers finance. Thats just the bottom line.

Quote:
Btw, buying a JGC is not investing.
Right, which is why I'd like to use someone else's money for free, or 1.9% and keep my $40,000 for actual investing.

Quote:
I'm really looking forward to see where they price the diesel!
Then go post in the diesel thread.

Quote:
A 0% - .9% car loan would be for 3 years.
Wrong. When I bought mine Jeep was offering 0% for 5 years. Even if it is 3 years, I personally think its a mistake to use your own $40,000 when someone is offering you a FREE LOAN for that $40k. Hell, put the $40k in a 3 year CD and make 1.5%. Even better, use it to fund all the maximum retirement accounts you can fund, get those tax deductions, and put the rest in the CD and make 1.5%. That $40k makes you $1,800 over three years just in the CD. On top of that, the cash remains pretty liquid.

With rates as low as they are, I wouldn't even put any money DOWN on a finance. Let alone pay cash.
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  #21  
Old 01-07-2012, 12:00 PM
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Re: To Trade or Not? Need opinions ASAP

Quote:
Originally Posted by jacobsed View Post
A 0% - .9% car loan would be for 3 years. The point difference on a short term investment for 3 years is nothing. Nobody gets rich playing the spreads on tiny interest differences for 30 - 40K over 3 years. People do get rich by being debt free and investing their money for the long term in growth stock mutual funds.

If the difference is nothing it shouldn't make a difference if you pay cash or not right? There is really no "right way" its what ever way the buyer wants to handle it.
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Old 01-07-2012, 12:10 PM
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Re: To Trade or Not? Need opinions ASAP

And to expound further on what you quoted him saying jp, if people get rich by investing their money for the long term in growth stock mutual funds, wouldn't it be better to invest the $40,000+ cost of a Grand Cherokee in those growth stock mutual funds for the long term, and then get a low or no interest loan and pay for the Jeep out of one's discretionary income for 3-5 years?

Theres more than one way to do this is my point.
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  #23  
Old 01-07-2012, 12:15 PM
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Re: To Trade or Not? Need opinions ASAP

Quote:
Originally Posted by jacobsed View Post
I could keep commenting but I'm sure I'll get a nasty gram from the moderator.
Well, I personally am not quite at that point.....yet! That being said I do highly recommend you start your own thread on the benefits of paying cash versus financing. I'm quite sure you'll get plenty of folks to argue your point to without having to crap up other peoples threads. I'll even argue with ya, verbally sparring with people is what I live for!
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  #24  
Old 01-07-2012, 01:01 PM
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Re: To Trade or Not? Need opinions ASAP

Having debt doesn't make you wealthy so arguing about borrowing at low interest rates, playing spreads and having the interest for a tax deduction is ridiculous. You still pay the principal and more for the interest. And why would I pay a dollar to save a nickel as a tax deduction?

The real question is should you spend $40K on a vehicle or invest it. That is up to you and not a point to argue about because nobody can decide that except you. My point is if you are going to buy then you should pay cash. And for most people that is not a $40K vehicle.

If you are buying it as part of your business and it is making you money then it becomes a different conversation. My points are directed as if you are buying for your personal vehicle.
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