Ifallsguy

That loan costs you approximately $400. That's more than the interest most banks pay on the money you loan them (what they call savings accounts).

travr6

Bought a used 2012 supercrew FX4 and paid cash.

I do not like debt.

TooManyVehicles

I know how to calculate interest cost, thanks. I done learned that way back in high school, later as an economics major and even managed to retain that knowledge even after working in the financial district (aka lower Manhattan).

The money in question was coming from a "high rate" savings account, paying .85%. So the net spread (before taxes) is .99-.85 = 0.14%. With a marginal tax rate of 30% (F+S), it isn't quite as close, .99 - .85*.7 = 0.395%. So that's a net carry cost (after taxes) of $150 over two years, but allowed me to have cash free for other purposes.

Sometimes it's OK to make certain (non optimal) decisions based on the 'sleep factor'. For instance, I decided to pay of my mortgage prior to retiring not because I needed to (in fact it might have been a better idea to refinance the whole thing as rates fell) but because I didn't want to have a monthly mortgage payment to worry about. (And yes, I know I did the exact opposite here, some 7 years later).

Bishop0090

630 for 72 mo. 2015 xlt

BadBoy4fun_wa

This is simply a choice of how you run your personal finances. I choose to finance all of it because the rate is stupid. For using their money it cost me $50 a month. I felt that was worth it on roughly $40k. If I choose to I can always pay it off and such.

I know this if I invest 40k for the next 7 years I probably could pay for half the cost of the truck. Hmmm so that is how I roll and personally surpised more people are not choosing to do so. Then again none of my biz!!

BlackBoost

Pay it off as soon as you can so you can have more cash after, and owe nothing. Also does wonders for your credit score. Truck - 2 years, mortgage - 10 years, etc. Get it over with quick and enjoy having no major bills.

old_programmer

2015 XLT Scab. My payment is $0/mo.

idrive

iTrader: (3)

I thought for sure this dick measuring contest would be over by now.....

tjm623

nope, now that you got here who do you think is the biggest?

Phil48315