Anonymous
Post 03/31/2013 17:30     Subject: Car loan, good or bad?
Anonymous wrote:Yes, I am. $959k invested, home on the Hill paid off (and income generating), no other debt of any kind. And I'm under 50.


No, really, you're not.
Anonymous
Post 03/31/2013 17:27     Subject: Car loan, good or bad?
Yes, I am. $959k invested, home on the Hill paid off (and income generating), no other debt of any kind. And I'm under 50.
Anonymous
Post 03/31/2013 17:25     Subject: Car loan, good or bad?
Anonymous wrote:Pay it ff. I'm a millionaire with no debt.


No, you're not. No one with any actual financial sense thinks this way. The only people who think this way are slavish to Suze Orman and Michelle Singletary, two debt phobes who are otherwise known as the stupidest people in personal finance.
Anonymous
Post 03/31/2013 17:21     Subject: Car loan, good or bad?
Pay it ff. I'm a millionaire with no debt.
Anonymous
Post 03/31/2013 17:20     Subject: Car loan, good or bad?
Agree, keep the loan. Invest the difference.

Source: I'm a millionaire.
Anonymous
Post 03/31/2013 17:18     Subject: Re:Car loan, good or bad?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Thank you for starting this thread. My DH did that -- I just wanted to pay it off. I guess I am just stuck in the 1950s or something!


I would pay it off.


Why on Earth? Not very financially savvy? Leverage is your friend when the rate is < 1%.


Not for a stupid car loan, Gordon Gekko. Pay that kind of shit off. Who has car loans?


Dude, if someone's going to loan me $20,000 for 0.9% interest and I can make 9% interest elsewhere, I'm going to do that. But you carry on scraping by, mkay?
Anonymous
Post 03/31/2013 16:38     Subject: Re:Car loan, good or bad?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Thank you for starting this thread. My DH did that -- I just wanted to pay it off. I guess I am just stuck in the 1950s or something!


I would pay it off.


Why on Earth? Not very financially savvy? Leverage is your friend when the rate is < 1%.


Not for a stupid car loan, Gordon Gekko. Pay that kind of shit off. Who has car loans?
Anonymous
Post 03/31/2013 16:14     Subject: Re:Car loan, good or bad?
Anonymous wrote:
Anonymous wrote:Thank you for starting this thread. My DH did that -- I just wanted to pay it off. I guess I am just stuck in the 1950s or something!


I would pay it off.


Why on Earth? Not very financially savvy? Leverage is your friend when the rate is < 1%.
Anonymous
Post 03/31/2013 16:10     Subject: Re:Car loan, good or bad?
Anonymous wrote:Thank you for starting this thread. My DH did that -- I just wanted to pay it off. I guess I am just stuck in the 1950s or something!


I would pay it off.
Anonymous
Post 03/31/2013 15:57     Subject: Re:Car loan, good or bad?
Anonymous wrote:Thank you for starting this thread. My DH did that -- I just wanted to pay it off. I guess I am just stuck in the 1950s or something!


Yeah, leave the money management to DH. Your take is really kind of stupid.
Anonymous
Post 03/31/2013 15:46     Subject: Car loan, good or bad?
I have a loan and wish that it was paid off. Just pay it off and keep car for 10+ years.
Anonymous
Post 03/31/2013 15:28     Subject: Re:Car loan, good or bad?
Thank you for starting this thread. My DH did that -- I just wanted to pay it off. I guess I am just stuck in the 1950s or something!
Anonymous
Post 03/31/2013 12:00     Subject: Car loan, good or bad?
I would just keep the car loan. It's almost free money.
Anonymous
Post 03/31/2013 08:05     Subject: Car loan, good or bad?
Anonymous wrote:Just curious what others think...

I bought a car last fall and got their 0.9% financing (even thought I didn't need it, the rate was seductive). I have about 20k financed, although I could easily pay this off. I have about 40k uninvested, and have no imminent plans for it. Does it make sense to keep a loan like this, since the interest is so low? It's not like the interest is tax-deductible.

Thanks.


In theory you can get a better return investing your cash elsewhere (and that would be true the last few months, certainly). Under 1% is cheap money. So, yeah, the loan is worth it.
Anonymous
Post 03/31/2013 07:31     Subject: Car loan, good or bad?
Just curious what others think...

I bought a car last fall and got their 0.9% financing (even thought I didn't need it, the rate was seductive). I have about 20k financed, although I could easily pay this off. I have about 40k uninvested, and have no imminent plans for it. Does it make sense to keep a loan like this, since the interest is so low? It's not like the interest is tax-deductible.

Thanks.