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Reply to "Pay off debt? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I am not that PP, but paying any interest, even cheap interest, on a depreciating asset turns a lot of people off. [/quote] +1[/quote] Yes, I'm that PP and it's for that reason. We would love to have zero debt but are okay with mortgage (since it would be so hard to save up the amount needed for a house in this area and didn't want to rent forever) and student loan debt (because it resulted in huge pay increases for both of us). But if I'm going to borrow money for a car, why not just lease one? [/quote] Because if you've decided to buy over lease, it is presumably to hold the vehicle long enough that it makes economic sense to have purchased, in which case your money is tied up for an unnecessarily long time without providing a reasonable return on investment. I agree that leasing is often a better option than buying. But if you're going to buy, there's no reason not to finance if the cost is low enough.[/quote]
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