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Polls & Surveys - Please Participate!
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Old 10-25-2005, 07:10 AM   #21
Tenchi
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Quote:
Originally Posted by ProV1
i did, and i fcukin love it!!!

ne1 else *HATE* getting a loan and paying interest?? i got a kickass APR 5 yr ARM on my brand new house and will be paying that off as well after 5 yrs..


uh....ok.


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Old 10-25-2005, 07:41 AM   #22
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I paid cash for mine (just the amount on top of the trade-in value of my old car).
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Old 10-25-2005, 07:43 AM   #23
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I paid cash for mine (just the amount on top of the trade-in value of my old car).
what car did you trade-in and how much extra did you have to pay?
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Old 10-25-2005, 08:04 AM   #24
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Screw paying cash, I just stole mine.
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Old 10-25-2005, 08:55 AM   #25
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Old 10-25-2005, 09:05 AM   #26
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purchasing the car is the only way to go. leasing it is a bunch of bs. you lose money that way
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Old 10-25-2005, 09:58 AM   #27
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Actually EDawg has the right idea. Leasing can be a good idea, but if you like to mod your car leasing is not the way to go. Buying a new car isn't a good idea, from a financial point of view, as soon as you drive off the lot you've lost money. Probably the best way to go is to pay cash (if you can afford it) for a late model, low mileage used car. That way you've let the original owner lose money on the initial depreciation, you own it so you can mod it all you want and you're not paying the high interest rates associated with used car loans.
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Old 10-25-2005, 10:01 AM   #28
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Quote:
Originally Posted by BGA
Probably the best way to go is to pay cash (if you can afford it) for a late model, low mileage used car. That way you've let the original owner lose money on the initial depreciation, you own it so you can mod it all you want and you're not paying the high interest rates associated with used car loans.

ding ding ding
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Old 10-25-2005, 10:14 AM   #29
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Paying cash, from your savings, for a car is not the best use of your money IMO. If you pay all the money upfront for an M3....say 45k and you use the car for 2 years and then sell for 35k you have effectively tied up 35k for 2 years.

I buy cars with a HELOC. I buy the car upfront, make the HELOC payments while I use the car then I sell the car and pay down the HELOC with the money. I then pay down any of the remaining balance while I am driving the next car I purchase using the same method.
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Old 10-25-2005, 10:51 AM   #30
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Quote:
Originally Posted by BGA
Actually EDawg has the right idea. Leasing can be a good idea, but if you like to mod your car leasing is not the way to go. Buying a new car isn't a good idea, from a financial point of view, as soon as you drive off the lot you've lost money. Probably the best way to go is to pay cash (if you can afford it) for a late model, low mileage used car. That way you've let the original owner lose money on the initial depreciation, you own it so you can mod it all you want and you're not paying the high interest rates associated with used car loans.
yup thats what I've been doing
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Old 10-25-2005, 10:56 AM   #31
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Old 10-25-2005, 10:58 AM   #32
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Old 10-25-2005, 11:04 AM   #33
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purchasing the car is the only way to go. leasing it is a bunch of bs. you lose money that way
hahahaha.....
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Old 10-25-2005, 11:15 AM   #34
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Paying off a car in cash is not always the best idea... it feels good to have that title in your hand, but like others have been saying, you can invest that money into better things. I have a few friends that are investing into a construction type project making as much as 12% interest. If you car loan is only 4.9% or something low, it would be better to take that 50k you put down on that m3 and make money with that 50k. Just my opinion though.
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Old 10-25-2005, 11:17 AM   #35
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I slapped my sales man with my cash
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Old 10-25-2005, 12:24 PM   #36
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cash is the only way to go. don't spend money you don't have. the only time i plan to 'finance' anything is when i buy a house.
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Old 10-25-2005, 12:25 PM   #37
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Old 10-25-2005, 12:27 PM   #38
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I paid in full in cash
Best thing I ever bought.... and conveniently the expensive
Condo is next..... perhaps paid in cash as well???
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Old 10-25-2005, 01:01 PM   #39
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Quote:
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that's cool, but getting a whistle in your exhaust is even more woot woot than that.

WOOO WOOO!!!
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Old 10-25-2005, 01:07 PM   #40
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cash is the only way to go. don't spend money you don't have. the only time i plan to 'finance' anything is when i buy a house.
or a yacht
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