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Money and Finances
Reply to "Buying a car with cash"
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[quote=Anonymous]If you don't buy in the two years since you sold your condo, you may be liable for capital gains tax, depending on how much money you made from the sale. This is probably not the case for you as you are considering buying a car with the proceeds, not a house. http://www.irs.gov/uac/Publication-523,-Selling-Your-Home-1 If you can't afford a monthly payment, can you really afford a new car? Invest some money and do what a PP recommended. Buy a two year old car with a warranty, so you don't take the hit on depreciation when you buy a new car. [/quote]
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