I had the cash, but my wife was worried that she had no credit score activity, so we got a loan for $17K. Trade-in was paid for.
I hated paying interest for no reason. When I was younger paying cash for a car wasn’t always an option. People seem to have no concept of compound interest. They only care about the monthly payment so they’ll stretch the loan out over 7 or even *gasp* 8 years. Pay a lot more…
So, paid off the ’25 OBX Sasquatch at 6 months old.
I had the cash, but my wife was worried that she had no credit score activity, so we got a loan for $17K. Trade-in was paid for.
I hated paying interest for no reason. When I was younger paying cash for a car wasn’t always an option. People seem to have no concept of compound interest. They only care about the monthly payment so they’ll stretch the loan out over 7 or even *gasp* 8 years. Pay a lot more…
Debt is modern slavery.