Fear of Debt

[clearskies]

The worst idea you are receiving is to buy a used car... a new one will do you fine, no mechanic for a year at least, will be sold after a couple of years at a good price if taken care of. Better buy somthing good than never. I wd never ever suggest a used car. You wont spend ur weekend in repair.

[IndiReloaded]

According to Click & Clack, Fras (I love them), its always better to repair a car & drive it into the ground.

Depends on how much your time is worth, tho. And if you can claim the expense, like I said.

[Aegis]

I've been told one of the worst investments you can make is a brand new car, since they depreciate many thousands of dollars in the first couple years of ownership, regardless of use.

[Pears]

I hate money.

You mean you love money.

I started a 401k plan. Have you invested in retirement funds?

[Junket]

No.
___________

[shh!]

I've been told one of the worst investments you can make is a brand new car, since they depreciate many thousands of dollars in the first couple years of ownership, regardless of use.

I've heard they lose thousands in value the minute you drive them off the lot.

[Mish]

I wd never ever suggest a used car. You wont spend ur weekend in repair.

You won't spend your weekend in repair if you take good care of it. Why throw tens of thousands of dollars to the wind?

[Junket]

I don't care how much I lose when I drive the car off the lot, so long as it lasts me a good 10 years.

[Aegis]

2 10K cars will probably drive farther/live longer than 1 20k car

[Junket]

2 10K cars will probably drive farther/live longer than 1 20k car

Honda Fit.

Preferably 2007.

[ShirleyVA]

Better buy a car now so it will save you time going around places you need to go. One thing that you also have to do while you are still young, healthy and able to do overtime is to take overtime if you feel you have nothing to do at home yet.

Save as much as you can when you are younger and spend on meds when you grow older. Take the opps while you still can and invest on time deposits or something at the bank so it will earn too.

You are very liquid so money won't be a big problem. Investing it so it will earn at the period you don't have any projects will help too.

As I say do it while you are still young and healthy. As you grow older all kinds of illnesses will knock on your door and it will be a great relief to have some savings at the bank.

[Aegis]

.com's in the sig but it's still like a half-assed attempt at real content. I'm torn as to what to do.

[lesa]

I've been told one of the worst investments you can make is a brand new car, since they depreciate many thousands of dollars in the first couple years of ownership, regardless of use.

Purchasing a car should not be considered an investment. I would rather get two cheap cars and use the rest of the money for better investment.

[Asparagoose]

Not that I'm hurting or anything, but $15,000+ for a car is nothing I'm capable of payin' for in cash. Having a monthly payment scares me. I don't like the idea of living outside of my means. All my credit cards I pay off every month.

Financially, it's always a bad idea to pay interest on a depreciating asset. Paying interest on a home isn't bad because your home is appreciating in the long term. A car only goes down in value and very fast. If you need to finance your new car, make sure it's a cheaper car and inexpensive. Cars will depreciate, but cheaper cars hold on to most of their value. Try japanese cars or ford. There's nothing wrong with debt. It's really not that complicated at all, don't let it scare you Frasbee.

[Tedel]

We were just talking about a water-powered car in another thread. Why don't you give it a try? That will be a lot cheaper in the long run.