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Personal Finances / Buying or Selling a Home


Subject:  Re: Buying Retirement PLace in Fl Date:  10/28/2013  10:52 AM
Author:  PSUEngineer Number:  126498 of 128887

Okay, I added some bolding to emphasize the key part of the first statement.

Having money saved up to buy a car doesn't preclude anyone from 'financing a car if the terms are right'. However, not having money/assets to purchase a car when one is needed will likely require financing on whatever terms are offered, even if the terms are crappy.

Well, your message didn't come off like that. Also I wouldn't read it that way due to the overwhelming advice here never to finance a car. One group of posters will say you should never finance a depreciating asset. Unless you are going to turn around and sell in a year, I don't see the relevance of the statement. If your keeping a car for many years, the fact that it depreciates shouldn't affect the decision to finance it. To me, the decision to finance is a spreadsheet question. What does the math tell you to do?

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