Finance or Outright ?

[Rashid.bk]

Originally Posted by polarinda

Save up and buy that 500k house in cash too. You never know when the next economical tsunami is coming and it could jam you up worse than owning that sub under finance.

I think I read some sarcasm, if so, I agree.

Originally Posted by Shikar

I actually agree, and do. Though it may have been said in jest above.
We all make our choices and live by them.

Regards.

^save 500K for a house, really.
where are you gonna live those years where you can conservatively save that much, with mom, in a slum.
what percentage is wealthy, actually I should say rich who can afford to drop 300-500k in cash on a house(oh, and still have x amount of $ saved up for the future) because that 15% of the population will be the only home owners. don't stop there, how about the car and health care......


sorry, but to much ridiculous in this this thread.

to much left or right is extreme. plan ahead, meet in the middle and be wise.

[c.rod]

Without getting into everyone's earning power IMHO this question is based on where u are at financially. How much u make compared to your bills. If your not stretched than to me it's not a big deal. If its just a other line of credit that adds up to a bunch of unsecured debt I would say no.

U have to figure if its a $10k watch at 0% for 3yrs. That's $277 a mo. IMHO if there were no plans to try and pay it off early with Bonus or tax money etc. I wouldn't want that kind of a payment on a watch.

[Shikar]

Originally Posted by Rashid.bk

I think I read some sarcasm, if so, I agree.





^save 500K for a house, really.
where are you gonna live those years where you can conservatively save that much, with mom, in a slum.
what percentage is wealthy, actually I should say rich who can afford to drop 300-500k in cash on a house(oh, and still have x amount of $ saved up for the future) because that 15% of the population will be the only home owners. don't stop there, how about the car and health care......


sorry, but to much ridiculous in this this thread.

to much left or right is extreme. plan ahead, meet in the middle and be wise.

How about gifting a 550k home to your parents at 41?? What a crazy idea?? :)
I will let you pretend to make the wise decisions. My private client banker spent 15 min in my office yesterday trying to convince me to finance something, he is a nice guy.
I am 44 and have a lot more tolerance now, please enjoy financing and paying interest/rent/lease etc.

Regards.

[F&Iguy]

Originally Posted by outtatime

So the only people who should be allowed to buy a car are those who can pay cash?

How many people who buy a $20,000 Toyota have $20k in cash to spend on it?

Goodbye auto industry...

I hope its not the end!
35% pay cash/check for a car and its about $30,000 OTD


pay cash for the watch

Work your money the best you can

[R_Ongjoco]

I never borrowed money for any watch yet. If possible, I would use my credit card for the points and pay it off at the end of the billing cycle. However, I also made a rule with myself that I wont buy anything (except for cars, house) that I can't pay off in 3 months. That's the maximum I've given myself. So far, havent used that rule as I havent bought anything I dont have cash for.

[T. Ferguson]

I get the the idea that 0% financing is "free" money. Still, I'd pay cash. The way I look at it is by financing the cost of a watch I'm not going to make that much with the $10K by holding on to it at current interest rates. At least certainly not enough for me to have to be on the hook to to write a check every month and have unnecessary debt going against my credit. It just seems to me that if I have to finance it then I can't really afford it. We are talking about a pure luxury item for gosh sakes. And if I don't "have" to finance it I don't see enough incentive in it for me to do so.

Of course that's me, and I'm a guy that pays cash for his cars for the same reason. I just hate having to owe somebody money every month. But at least with a car you are financing something that you need to get to and from work where you make money. Similarly, a house is a true investment and can have tax advantages.

Buying a watch on time? Not for me. But if you do finance it I'd suggest buying one with a date function so you'll be reminded when your payment is due each month.