Quote:
Originally Posted by Meeni
For 4 years the car has warranty and maintenance. At 5 years, it is also when the maintenance sinks starts to drain. You lose a lot of money the first year in depreciation, but you loose a lot of money on maintenance after 80k miles.
It gets you to your workplace, so it is a depreciating asset that permits you to get a job, in some sense it is the best of your assets, because if you don't have it, you get no revenues.
Ok, just make sure you pay cash for and no big deal. You can say the same thing for the clothes you wear and the food you eat.
I think you don't understand how monetary instruments works, and you should stay clear of them. For most people that actually understand what an APR and an opportunity cost are, it is just fine.
That being said, balloon payment is a big red flag. For the Op: Scratch a lot more on what that means for you, as usually, these types of loans are VERY expensive in the long run.
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I totally disagree. 80K is just getting a car broke in. You obviously don't know anything about proper maintenance and buying a good reliable car.
I think you don't understand how to become wealthy. Dealing in debt will not permit you to do so unless you can out earn your stupidity which most people can not do.