I used to finance/lease cars and change things up every few years. Then I made a decision that I never wanted car payments again, so before the next car, I'd have to have the money saved.
The biggest thing this did for me is completely change what I thought was an appropriately priced vehicle to drive. Getting a bank draft for tens of thousands of dollars to go buy a car really adds to the gravity of the purchase/decision.
The biggest net benefit, in my opinion, is the financial flexibility. If you lose your job, or your income drops and. you have years left of obligations on an asset that is worth less than your remaining loan amount, that could be the difference between needing to take more drastic measures like moving houses or dipping into retirement savings early.
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