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Old 10-25-2011, 12:13 PM   #62
Scooby Newbie
Member#: 223200
Join Date: Sep 2009
Chapter/Region: MAIC
Location: Rosedale MD
2009 WRX
Pearl White


Originally Posted by Steve.804 View Post
Well of course if you have an "extra" $30k laying around and you were offered 7% interest, pay cash. But really, name one manufacturer that is not offering some sort of discounted finance rate (or cash back, it's all the same thing (discount))
Good point - however, I'm sure there are people out there who have cash to put down on a car, but choose to hold onto it.

Also, as I mentioned above, financing simply allows people to buy cars they really can't afford. Not saying that if you can't eventually pay it off, you shouldn't buy it. But a lot of people today are taking 60 months loans. Maybe even longer, I don't know. Seriously?!? If you can't pay your car off in less than 4 years, you shouldn't be buying it. This is exactly how people get upside down on their loan b/c they finance a car for 60 months, want a new car in 2 years, still owe a ton of money on it, and they just trade it in for $6k less than they bought it for.

I'm not anti financing....i'm anti people spending more than they should b/c they were able to get their payment under $XXX.
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