How much do you owe?

Those are all Supras, guessing he means he wants the new one coming out.

 

The BMW Zupra in front?

 

LOL...perzactly!

 

That’s exactly why I have a hard time understanding why people pay cash for a truck while still having a mortgage

 

Oh shit, now you've done it.

 

It is usually true you will save more interest paying off your mortgage, but if you do the math is often pretty low numbers when you factor in appreciation, tax write-off, etc. especially if you have a sub 4% home loan.

 

But 4% over 30 years plus property tax, maintenance, remodeling and whatever else you put into a home in can actually be not as great as it seems

 

Don’t forget the $500k - $1m in appreciation over 30 years.

 

Got 1.8% and 20k down on the 31k truck, gotta few more payments left. Next is the house mod.

 

Yes that’s on the hopeful side but that $350k house actually costs about $700k when it’s all said and done. Home ownership can and doesn’t create great wealth but only if you sell

 

Paid cash for mine. Still have a small loan at 0% on the wife's Suburban.

 

Yes, when we sell and go tiny. Or move into our paid off Cabin and pocket the house money. You have to pay to live. Home ownership, over the long-term, beats other ways to live, financially speaking.

 

Try not to think about it. I do own my home if that makes me a little bit more acceptable to you high rollers.

 

Because vehicles depreciate and homes (normally) appreciate.

An old axiom is 'financing a depreciating item makes you a two time loser'.

I'll gladly take a 3-4 yr old well cared for used vehicle for cash over a new one on time.

But that's just me. By the worlds standards (Tacoma World that is) I don't have much. But its all paid for. I deeply appreciate others paying their SS taxes, buying new vehicles and generally keeping the economy moving so I can enjoy the Life of Riley.

 

I had to google “Life of Riley”. I like it. Always learning on TW.

 

I paid out of pocket while I lived at home with my parents and what not. I have to years left which will be spendy as I was at a community college before but now I’ll be moving onto a university hence time to take out some loans. I hope you figure out a way to get rid of that, I can’t imagine. Best of luck to ya man!

 

Been paying on it for 14 years. That includes my masters and doctorate. It's paid for itself already and I don't freak out about it anymore. It sucks, but I wouldn't be doing what I'm doing w/o my degrees.

 

Hey if your career choice demands it it’s necesary such as the medical field and what not. I can’t get into the field I want without it either, even though close friends of mine do it don’t ever use anything they learned from school in it sometimes the evil of school loans is necessary.

 

Pretty much the same exact thing. 20k down, will be paid off in less than a year.

Not bad considering I’m paying more then 30k a year towards my house.