General LSX Automobile Discussion Non-technical LSX related topics.

mileage/loan question

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Old 03-18-2008, 01:01 PM
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Originally Posted by qwk93ta
I have a different philosophy on paying for a car. I have a monthly budget for a car payment, $300. I only put down tax plus $1,000 so I am not upside down in the car later. I would never take 12k out of the bank to buy a car. The interest rate on my 00 WS6 is 5.75%.
mmmkay.

the 12k in the bank will earn you 3% or so in a savings acct. instead you'll pay 5.75% to borrow that money.

that makes poor financial sense.

as far as i am concerned if you buy something with someone else's money you're always upside down.




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