Quote:
Originally Posted by Sliver
That seems back-asswards. Saving up to buy something actually feels good. Buying something on credit feels crappy to me.
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You get the same satisfaction when you're done paying for it too. I was quite happy once my car, that I financed, was paid off and I no longer had monthly payment commitments. Ditto for the student loan. For us, it was good. The extra money at the time went towards our mortgage down payment so we could put 25% down. I think in the long run that was the better choice for us when mortgage rates were nearly 5% and our car was only 2%.
It totally depends on the situation. If the finance rates of vehicles was up there with credit card rates, then we would have considered used cars or paying for the car out right.