If you can get a LOC at 0.9%, that is a great deal. This is different though, as the loan is typically issued by the financing arm of the car manufacturer, and the 0.9% is based off an inflated value of the vehicle. If you paid cash, the cost of the vehicle would be much lower than the stated value of the car in the 0.9% lease agreement. The same applies to "interest free" loans. These deals are constructed in such a way so that people rationalize the purchase by thinking they are paying minimal (or no) interest.
OT but there's a long, great article on Edmunds.com about the process of buying and selling used cars - written by a guy who went undercover as a used car salesman in order to write it.
what have car loan discussions got to do with a 22-year-old's financial plan when he specifically says he doesn't want a car right now, might not even need one in 2 years ...
Nothing! But I was responding to Montrealer's point and the follow-up by Helianthus.
Don't conversations in your house go this way? They sure do in mine.
oh they do indeed or else people get ignored entirely ...
but i was hoping to turn the spotlight back on the OP.
he's another young person who has joined cmf forum & he's got life by the tail. This is so astonishing to me ! i mean, finance boards used to be populated by grouchy old men, right ?
so these talented youngsters are amazing. Especially their sense of responsibility & their good will. We should all be encouraging them all the way imho.
ps we have some angelic older folks here too.
I was responding to Montrealer's post.
As for the OP, I don't have much to add. In fact, I should follow in his lead, as he is better off than I. Definitely impressive to be going in the right direction at 22, with a well paying job and no debt!
That's a awesome read! Wow were they fing with mr.park.....you always know it's a game of poker and the "car" has nothing to do with it!One big physc game.I have had the "four" square pulled on me looking back when i bought a few yrs ago(friend of the family thou)amazing how they have sterotypes and buying patters/response patterns looking for cues-weakness,body language.Like a lion looking for a weak gazelle.
Process kinda reminds me of the "friendly" mutual fund salesperson with fancy diagrams and let me show you the "power of componding"lol. "and will hope you don't read the fine print and this is just standard stuff sign here"
myk, just out of curiosity, any idea what your allocation is going to be in the e-Series funds?
Did you get some travelling in between graduating and now? I think it's a great experience for young folks like us (and anybody, really), to be able to go travelling without the pressure of knowing you have to be back home by a certain time to get back to work.
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