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Reply to "how much income or how much savings would you need before buying a $40K car?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I would never buy a $40K car. You can get a great car for half that.[/quote] I wouldn't either but then I only want to impress myself. My last vehicle I bought for cash. Paid off beats any brand or status.[/quote] +1![/quote] +1. People should ONLY buy cars in cash. If you can't afford it, you can't afford a new car.[/quote] Even when the dealerships are offering 0% financing? Couldn't you earn a higher return on your lump sum cash by investing it over 5 years and paying off the 0% interest loan slowly over those years instead? Well, that and the fact that some people need to drive to work and the cost of a monthly car payment is the cheapest way to get to work. Cheaper than taking a cab or hiring a zipcar every time you need wheels. But let's just ignore the realities of most people and pretend every person worth the space they take up has at least 20k in cash lying around. [/quote]
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