Originally Posted by AndyR83
I guess I just don't understand. I have about 30k in the bank right now, and an extremely manageable $500 a month car payment. I find this favorable to having, say, 6k in the bank and no payment.
I understand that you disagree, but besides being able to say "I do not owe any money on this thing that I bought. It belongs entirely to me" I fail to see the benefit. If I suddenly needed $20k, I wouldn't have any way of putting my hands on it. With my current arrangement, I am able to do so. I have a strong credit score, am financially secure, and my monthly expenses allow me to contribute heartily to my retirement account and my savings biweekly while also living comfortably. I don't see how I am unable to afford this car.
Leave my cattle out of this
You could be building wealth with that payment money. Think about what that $500/month payment could be in 30 years if you invested it. The numbers are crazy!! This is a free country and people have the right to be wrong and do stupid things.