mine's not paid til 2010 on schedule. but this car is the only thing we have any liability for. i could have waited a few years, but my old car was going to need a transmission, and running the numbers, it was about as much to buy a newer car sooner.

honestly, a civic would have done the job, and the payments at $300/mo instead of $600/month would have been nicer, but for me, I feel comfortable calling the car a $300/month hobby.

to justify it, i currently net an extra ~$800/month after all is paid, and my wife will finish her program and start working in a year and a half. at that point it goes back to the classic: do i make more money investing than i lose in interest? 8%/year is a typical rate of return for unmanaged stock investments, so is the uncertainty and risk worth the extra few percent i'll probably net? i'll just have to run the numbers and make an informed decision as time goes on. and who knows, we could have a child to pay for, and the whole situation change!

 

So much wisdom.....

 

You could just think of it as "renting" a car.

I don't pay for my year's bar tab up front either.

Our cars are paid off, but I'd consider a lease (which is the same thing) to get into a 911 TT a year earlier.

 

I'd rather keep earning interest on my investments then pay off a car, which you accuratly pointed out depreciates.

BTW -- Did you pay cash for your house?

 

BTW -- I'll never pay mine off. It will be sold before the loan is completed, so I NEVER had to pay the remaining portion of the loan. Go figure.

 

2012 here heh

 

So say I have $14,000 CASH should I finance a used AP1 or AP2 or just save up more until I can really afford one? It current sitting in a 5% online savings account. So any advice???

 

Mines paid off thank god. I dont miss the payments one bit. Now i just put a contract on a new home. Im excited

 

Uh people need to buy cars

 

Eh, I was tired, I'm allowed the occasional o/e switch.