How many paid cash for their 3rd Gens

I pay cash for everything then watch poor people ask "Who cares". Come at me TW punks.

 

I haven't followed along, but I have yet to see a daily-driver vehicle that doesn't depreciate at some rate. You're paying for the utility of the vehicle, plus some additional amount for some mixture of comfort, convenience, and hopefully more reliability than a $1000 craigslist-special.

As for "not have payment" - IMHO it's far better to always have vehicle payments in your budget. Pay off any loans as soon as reasonable, then keep making those same payments into savings to cover maintenance, repairs, and to eventually put towards the next vehicle. Avoids budget shock when suddenly you need to go buy a replacement vehicle unexpectedly.

If you're not making some sort of savings deposit on a paid-off vehicle, you're essentially "spending" the equity you have as it depreciates and not offsetting it in any way.

 

Some of the "who cares" folks are by no means poor. Paying cash for everything (eschewing credit) is a middle ground between abusing credit and using credit to your advantage.

If that's the point where you're comfortable, great.

Nobody cares what you do except you, albeit some enjoy discussing the topic in general.

 

There is a time to pay cash and a time to let someone else worry about it.... I went. 3 years ago to buy a new zero turn. Took 8k cash with me.left with the mower and my cash and 0% interest for 4 years....

 

3 year lease, $500 down. Paying cash for things is silly if you don't have to.

 

Meh

 

Lol I wish I could make it rain.

 

I always paid in full used but this I saved for and my first new truck/ car. For 41 years of buying my own used junk to drive, this being my first new. Figured if I don't do it now when. I'm getting to old to bust wrenches every weekend. Financing is just dumb, why be a slave for someone else. You are already slaved to make the money why be a slave to spend it. 57 years old and debt free. I down own much but its all mine and no leftovers to leave behind when I'm gone. Hopefully this truck will be my last. I don't have enough time left to save for another.

 

anyone who demonizes credit, but cant figure out how to make it work to their advantage is a fucking moron. Do what works for you. I paid for most of my honeymoon on points and paid next to no interest on dollars spent to get the points.

 

Paid mine in cash. Nice not to have any payments.

 

Paying cash for a new vehicle isn't usually the smartest financial play.....so ya op, keep bragging.

When's the last time you heard someone with money bragging how they paid cash for their Mercedes? They don't because they lease.

 

cold cash down on my limited. probably/ may be my last vehicle i'll ever buy, oldster/ old schooler here

 

My Feelings Exactly!!!

 

^ the above couldn't be more true. Wealthy often just pay $1500-$5000 a month to drive whatever they want.

 

Actually all the rich people I know drive regular cars and all pay cash because they don't want to be bothered with payments.

Friend of mine owns a Ferrari, he drives a Hyundai Genesis. Another friend who owns a 911 Turbo S drives a Honda Fit...

Another friend of mine who owns a 2 million dollar house drives a Ford Explorer all cash.

The reality is rich people don't brag, they just have a car leagues above everyone else that do it for them.

 

Don't buy the 3rd gen. Oh wait wrong thread.

 

Lots of people can afford a ferrari, most cant actually afford to drive it. I work in the auto industry and see that on a daily basis.
I know lots of people who paid more than they can for homes and drive shit cars because house poor on the assumption the market will always travel upwards.

Also, almost all of the ultra wealthy people I know lease because their accountants say so and why not. a massively depreciating asset whose lease payment can work for their benefit come tax time.

 

Those are all good points, in my case I know how much they make and they can pay cash for their ferraris. I find it interesting they all drive simple cars.

I've never met anyone real who is rich and leases their cars except those who want a new car all the time, not because it's a financial benefit. My friends keep their cars for about 5-6 years.

20k for a Honda Fit is chump change. No reason for a lease. If you make 800k a year are you really going to bother leasing?

 

I would never admit, or volunteer this information. If someone makes a sarcastic remark "Nice truck, must be nice", I always reply... Yeah, the payments damned sure aren't.