cb1111
Newbie
- Location
- Virginia, USA
As soon as the chip market corrects, I predict that the value of used cars will plummet. When that happens, a lot of people are going to be underwater on their loans and those cars will enter the market as people dump them.
My dad always said "never buy anything on credit (house excluded) unless you can pay cash for it, but it is more convenient, cheaper or easier to buy it on credit. And then pay it off as soon as possible"
I've only paid cash for cars - put a couple on credit cards and paid them off at the end of the month, several with 0% interest and one with .9% interest when CDs were paying 4%.
I've mostly driven nice cars, but I've also driven beaters including Renault 12 (or maybe 14 - it was so awful that I put it out of my mind) and one of those Honda AWD station wagon/van thingies. But everything was paid for and that was great.
A car isn't worth it - buy basic transportation until you can pay cash for the car you want - especially since you don't really love what you have.
But there is one non-negotiable requirement. Even if you sell your car, you'll have to continue to hang out here.
My dad always said "never buy anything on credit (house excluded) unless you can pay cash for it, but it is more convenient, cheaper or easier to buy it on credit. And then pay it off as soon as possible"
I've only paid cash for cars - put a couple on credit cards and paid them off at the end of the month, several with 0% interest and one with .9% interest when CDs were paying 4%.
I've mostly driven nice cars, but I've also driven beaters including Renault 12 (or maybe 14 - it was so awful that I put it out of my mind) and one of those Honda AWD station wagon/van thingies. But everything was paid for and that was great.
A car isn't worth it - buy basic transportation until you can pay cash for the car you want - especially since you don't really love what you have.
But there is one non-negotiable requirement. Even if you sell your car, you'll have to continue to hang out here.