What should I do....(spending $$$ question)

[+Daemon+]

What should I do, when I sell one of my cars? use poll plz

[amyb]

It's nice to save extra money.

[Cleetus]

2005 Mustang

[Damned Angel]

why not go on a well deserved vacation?

[Ya_know]

It all depends on what interest rate the WRX is at currently. If you are at anything below 2.9, I would strongly advise you not pay it off or pay it down. At 2.9 or better you would be better to save money with 2% interest, and you would only have .9% loss, yet still have a fat wad in the bank for emergencies.

Or you could invest the money, and make more than 2%...

Now, if the loan on the WRX is high interest...8-22%, PAY IT OFF! You are losing money big time!!!

Anything between 3 and 8 is a grey area; you have to make the call.

As far as new toys, I am married, with young kids. I don't remember what it was like to just buy something very expensive for myself

[+Daemon+]

It all depends on what interest rate the WRX is at currently. If you are at anything below 2.9, I would strongly advise you not pay it off or pay it down. At 2.9 or better you would be better to save money with 2% interest, and you would only have .9% loss, yet still have a fat wad in the bank for emergencies.

Or you could invest the money, and make more than 2%...

Now, if the loan on the WRX is high interest...8-22%, PAY IT OFF! You are losing money big time!!!

Anything between 3 and 8 is a grey area; you have to make the call.

As far as new toys, I am married, with young kids. I don't remember what it was like to just buy something very expensive for myself

ahha thanx for the tips.

my apr is 5.4% (im 22 first new car 03 wrx, got loan on my own) 1 car out of 3 I own

I was thinking about maybe going to another country for 2 weeks like umm the uk maybe, or the down under...

[DocPC]

Rent the Hilton sisters for an evening.....

[Stalemate]

It all depends on what interest rate the WRX is at currently. If you are at anything below 2.9, I would strongly advise you not pay it off or pay it down. At 2.9 or better you would be better to save money with 2% interest, and you would only have .9% loss, yet still have a fat wad in the bank for emergencies.

Or you could invest the money, and make more than 2%...

Now, if the loan on the WRX is high interest...8-22%, PAY IT OFF! You are losing money big time!!!

Anything between 3 and 8 is a grey area; you have to make the call.

As far as new toys, I am married, with young kids. I don't remember what it was like to just buy something very expensive for myself

I'm going to look you up when the time comes to finance my new car.

[Ya_know]

I'm going to look you up when the time comes to finance my new car.

Cars suck when it comes to their value. I try to tell people, get low interest, and put nothing down, unless cash incentives outweigh the 0% loan, then 0% is your best bet!

A friend just bought a new 2003 civic, put $12k down on it, against my recommendation. She didn't hear too good. I think she financed $5000 for 3 years at a low interest rate. Here is the kicker in two years, that car will go well below $10000 in value, lets say it does total out in a wreck she owes around 1500, insurance pays that off, then gives her a cash settlement for the remainder of the blue book, lets say $7500. She now has about half of the original down payment, plus she is out two years worth of payments, and she will be looking for a new car! It will in effect have cost her $8000 to “lease” this car...$320 a month will get you into a Camery, forget about a civic.

As frequent as cars are in accidents, and as costly as fixing them is, meaning the older they are, the easier it is for them to total out, for me it is too much to gamble. I always say, get the GAP insurance, they pay what insurance doesn’t in the event you still owe for a car that was totaled, and then make minimum payments on a low interest loan. You talk the least amount of risk with that method, and you can keep money in the bank instead of depleting savings…



(all figures used are complete generalizations...)

[Diver01]

Cars suck when it comes to their value. I try to tell people, get low interest, and put nothing down, unless cash incentives outweigh the 0% loan, then 0% is your best bet!

A friend just bought a new 2003 civic, put $12k down on it, against my recommendation. She didn't hear too good. I think she financed $5000 for 3 years at a low interest rate. Here is the kicker in two years, that car will go well below $10000 in value, lets say it does total out in a wreck she owes around 1500, insurance pays that off, then gives her a cash settlement for the remainder of the blue book, lets say $7500. She now has about half of the original down payment, plus she is out two years worth of payments, and she will be looking for a new car! It will in effect have cost her $8000 to “lease” this car...$320 a month will get you into a Camery, forget about a civic.

As frequent as cars are in accidents, and as costly as fixing them is, meaning the older they are, the easier it is for them to total out, for me it is too much to gamble. I always say, get the GAP insurance, they pay what insurance doesn’t in the event you still owe for a car that was totaled, and then make minimum payments on a low interest loan. You talk the least amount of risk with that method, and you can keep money in the bank instead of depleting savings…



(all figures used are complete generalizations...)

I like the way you think.

[King Grover]

hookers and booze

[edball]

2005 Mustang

What he said !

[+Daemon+]

What he said !

the new body of the mustang was pushed back to 2006

[Cleetus]

WHAT!>!!?!!???

Give me a link!!!!

Of course then again, that gives me more time to get out of debt and hopefully get better financing when I go to get that new sweet sweet ride.

[Diver01]

the new body of the mustang was pushed back to 2006