Math may not be his expertise
Math may not be his expertise
I was thinking the same thing but no matter how I add or multiply 0, I still get 0 LOL.
Shit... I’d take 0% for a thousand months if they offered it!
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who the hell wants to be paying on a vehicle for 7 damn years?? The borrower is ALWAYS slave to the lender.
who the hell wants to be paying on a vehicle for 7 damn years?? The borrower is ALWAYS slave to the lender.
who the hell wants to be paying on a vehicle for 7 damn years?? The borrower is ALWAYS slave to the lender.
At 0% you can actually make money.I get your broader point and agree.
But at 0%, my thinking changes... drastically lol.
who the hell wants to be paying on a vehicle for 7 damn years?? The borrower is ALWAYS slave to the lender.
who the hell wants to be paying on a vehicle for 7 damn years?? The borrower is ALWAYS slave to the lender.
Your income is your best tool for building wealth. So, if that income is being spent of a depreciating asset for 7 years (even at 0%), it's not creating you wealth. Think about where your net worth would be if you put that same amount of money, every month, into an index mutual fund for 7 years.Lol. You do realize you can pay more every month, right? In fact, thats what people do when they DO have interest on their loans. They pay more principle to cut into the interest.
So now, Mr. Ramsey, why wouldn't you want a 7 year loan at absolutely zero interest.?
Your income is your best tool for building wealth. So, if that income is being spent of a depreciating asset for 7 years (even at 0%), it's not creating you wealth. Think about where your net worth would be if you put that same amount of money, every month, into an index mutual fund for 7 years.
Your income is your best tool for building wealth. So, if that income is being spent of a depreciating asset for 7 years (even at 0%), it's not creating you wealth. Think about where your net worth would be if you put that same amount of money, every month, into an index mutual fund for 7 years.
Your income is your best tool for building wealth. So, if that income is being spent of a depreciating asset for 7 years (even at 0%), it's not creating you wealth. Think about where your net worth would be if you put that same amount of money, every month, into an index mutual fund for 7 years.
For which Ram? The classic or the newer version? If it is a classic, I don't think that is a good deal on a soon to be discontinued bodystyle.I found a RAM dealer that is offering $10k off MSRP AND 0% for 84 months.....
Not all of us have a relative leave us a large sum of cash in order to buy a Z06 in cash.
So, for some that need or want a vehicle, 0% interest is not a bad option at 84 months. If this is a purchase just to purchase a car out of stupidity or to buy outside of their affordability, well, that's on them.
No argument that buying a new car is antithetical to building wealth. However, thats not the question. The question is if you WERE to buy a new car, buying it at 0%, regardless of the length of loan, creates the least economic impact and the length of the loan doesnt matter, provided you have the means to pay for the car.
Some people have a simplistic view that somehow anything greater than 60 months is some terrible financial decision, but who's smarter, the guy who borrows money at no cost for 5 years or the one that does so for 7?
Guys, calm down. I just provided the Dave Ramsey response lolYou just proved that exact point of the 0%. Say you buy a vehicle at 50k. You have the option to spend all that 50k in 1 day or you can put that 50k in a index mutual fund for 7 years and make payments monthly from that account. From day one you're making money on that 50k and your making monthly car payments.
You don't buy a car/truck for added value. You buy it because either you want it or you need a new vehicle l.
Which ram dealer is that. I would consider that myself. All around here are 0 for 84 with no other incentives, though I havent pushed them either.I found a RAM dealer that is offering $10k off MSRP AND 0% for 84 months.....