05-11-2004, 12:11 AM
When you finance a car, you end up paying so much in interest and at the end of the loan your car is paid for, but it's now a 5 or 6 year old car that's worth about 25% (on average) of what you paid for it.
Is that logical?
Buying a house makes more sense than renting. That I'll agree with. Buying a car, for me, is not worth it unless you avoid long loan terms and paying a lot of interest by making a huge down payment or paying in full in cash.
But hey, I get tired of driving the same car after about 2 years, so leasing is great for me. Also, I'll never have to pay maintenance with a warranty that outlasts my lease.
Is that logical?
Buying a house makes more sense than renting. That I'll agree with. Buying a car, for me, is not worth it unless you avoid long loan terms and paying a lot of interest by making a huge down payment or paying in full in cash.
But hey, I get tired of driving the same car after about 2 years, so leasing is great for me. Also, I'll never have to pay maintenance with a warranty that outlasts my lease.