bignfast

Financing a house and a car is a lot different than financing things such as wheels & tires or a stereo system. The only way I would finance that is if it was 0% and I had the cash to pay it off anytime. I bought my ski boat on a credit card with 0% interest for 18 months and paid the minimum for 16 months and then paid it off. I had the cash in the bank the whole time collecting interest while I used someone else's money for free. On top of that I also got a whole bunch of reward points on my credit card for the large purchase. I probably would not have bought the boat if I needed to finance it as it is purely a want and not a need.

coley909

I'm not sure it's what it is its how expensive it is. 3000 grand is a chunk of change that doesn't need to be spent but if you can afford the payments and interest then why not. You can't take it with you. One guy buy a eco boost and financed wheels into the loan of the truck. What's the difference?

Plus you don't need a 30k+ but just about every one in this section has one. Its not about needs really, if it was between wheels and tires and his familys food bill it'd be different. Its between him not having the money now and having it maybe a year later or 6 months we don't what his situation is.

ianinedm

To each their own but financing is a slippery slope. You may have the money now and want to take advantage of free interest for 16mos but a lot can happen in that time. Injury/illness/loss of job etc. most cards that have free interest for a period of time are backloaded where as if any payment is outstanding at the end of that time the interest is retro active back to the start or it jumps really high.

But again, to each their own. It's not my money.

Brycicles

I remember kids in high school used to take out loans like this, for big wheels and sweet stereo systems...

Biff it

I paid cash for my $2000 Sound system.
Not
Lookig to start a thread to hear people bicker about how stupid of
A idea is. Just looking for some decent references.

coley909

Good luck on that one. We all tend to fight pretty quickly on sensitive topics. Ask someone about which engine is better eco or 5.0 you'll see. Good luck to you though I'm not in Canada so I'm no help

ji603

Funny. It's mostly the canadians down hur too, who finance dey rims nsheeit. Gnomesayin?


You guys have something agains bank accounts?

tko_818

iTrader: (1)

this.. I would never finance anything if I had to pay interest (besides car/house) or if I didn't have the money to do so. I like to keep my money for as long as I can just in case.. why not hold onto my 3 grand while I borrow someone elses 3 grand for free? sure I could have just dropped the money.. but I felt more secure with it in the bank while I earned up another 3k to pay

RowdyAggie

If you can't buy it cash, you don't need to buy it.

Biff it

I take it you paid cash for your truck and house?