Anonymous
Post 05/31/2016 09:17     Subject: Finance a car or borrow money from 401k
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:It's a bad idea, of course. Are you going to tell him that or are you just looking for confirmation?


This is a new friend so I am not going to say anything. I was just curious if this was something people did.


No. This is a worse idea than leasing.


OP here. I love leasing. I like getting a new car every 2-3 years and never have to deal with repairs. DH only buys cars in cash.


leasing is more expensive than buying over time.
Anonymous
Post 05/31/2016 08:50     Subject: Finance a car or borrow money from 401k
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:It's a bad idea, of course. Are you going to tell him that or are you just looking for confirmation?


This is a new friend so I am not going to say anything. I was just curious if this was something people did.


No. This is a worse idea than leasing.


OP here. I love leasing. I like getting a new car every 2-3 years and never have to deal with repairs. DH only buys cars in cash.


And he always buys a certified used car.
Anonymous
Post 05/31/2016 08:49     Subject: Finance a car or borrow money from 401k
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:It's a bad idea, of course. Are you going to tell him that or are you just looking for confirmation?


This is a new friend so I am not going to say anything. I was just curious if this was something people did.


No. This is a worse idea than leasing.


OP here. I love leasing. I like getting a new car every 2-3 years and never have to deal with repairs. DH only buys cars in cash.
Anonymous
Post 05/31/2016 08:23     Subject: Finance a car or borrow money from 401k
Anonymous wrote:
Anonymous wrote:It's a bad idea, of course. Are you going to tell him that or are you just looking for confirmation?


This is a new friend so I am not going to say anything. I was just curious if this was something people did.


No. This is a worse idea than leasing.
Anonymous
Post 05/31/2016 08:18     Subject: Finance a car or borrow money from 401k
Anonymous wrote:
Anonymous wrote:It's a bad idea, of course. Are you going to tell him that or are you just looking for confirmation?


This is a new friend so I am not going to say anything. I was just curious if this was something people did.


It's not. Your friend is a moron.
Anonymous
Post 05/31/2016 08:16     Subject: Finance a car or borrow money from 401k
Anonymous wrote:It's a bad idea, of course. Are you going to tell him that or are you just looking for confirmation?


This is a new friend so I am not going to say anything. I was just curious if this was something people did.
Anonymous
Post 05/31/2016 07:46     Subject: Finance a car or borrow money from 401k
It's a bad idea, of course. Are you going to tell him that or are you just looking for confirmation?
Anonymous
Post 05/30/2016 23:53     Subject: Re:Finance a car or borrow money from 401k
Why lose the tax free appreciation on a 401k when you can get cheap financing on a car? Makes no financial sense. We just pay cash for cars.
Anonymous
Post 05/30/2016 23:46     Subject: Finance a car or borrow money from 401k
Your friend is an idiot, he's not old enough to withdraw without severe penalty right?
Anonymous
Post 05/30/2016 23:08     Subject: Finance a car or borrow money from 401k

Option 3. Keep the one he has or buy/ finance a much cheaper reliable Japanese car.
Anonymous
Post 05/30/2016 23:03     Subject: Finance a car or borrow money from 401k
It's his life. If you get a thrill by tut-tutting, by all means, tut-tit away.
Anonymous
Post 05/30/2016 23:02     Subject: Finance a car or borrow money from 401k
Our friend is planning to pull money out of his 401k to buy a luxury car.

Is this normal?

We always finance or lease. Never thought to borrow against 401k.