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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]we bought at $60K car (excluding taxes, etc) and put down around $10K. got a 5 year loan at a very low rate for the rest and pay around $1000/month.[/quote]

Insane waste of money.[/quote]

I wouldn't say so - if you spend a ton of time in your car and have the means, I actually don't think $60K gets you an extravagant car.  You get a decent 5 series or an E class Mercedes, certainly not over the top.  
[/quote]

You're out of touch with reality.  You can get a decent car for $30-$40k less.  A fool and his money are easily parted.  If you're rich enough to pay cash, whatever.  If you're financing $50k, you're a fool IMO.[/quote]

yep.  fool.[/quote]

i'm the OP in this portion of the thread. you all are assuming a lot. we could have paid cash if we wanted to but why do so when financing is available at incredibly low rates?[/quote]

I agree with OP the smart choice would be to finance at 0% to 2% APR 100% of the car and shove that money into the market (401K, etc...) and earn 6-8%... lately the market has returned substantially more than that.... Most people are debt adverse so if paying cash makes you sleep better at night... then pay cash.  But paying all cash in this low interest rate environment is not the most financially sound decision.[/quote]

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