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Cars and Transportation
Reply to "Am I being unnecessarily cheap about new car purchase?"
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[quote=Anonymous][quote=Anonymous]A car is a depreciating asset. If your car will run for awhile after getting it fixed, pay for the repair. In most cases, it would be cheaper than a car payment. Keep in mind that a new car comes with higher insurance, higher property tax, sales tax, title and registration fees, etc. [/quote] And take the money you're saving to put towards buying your next car outright. Don't borrow if you don't have to. Also, if you're thinking you'll borrow and pay it right off, check to see if you'd still be obligated for the interest you originally contracted for. Car loans aren't like mortgages -- you can't put money towards the principal and reamortize.[/quote]
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