New vs. Used (Cars)

Page 3 of I'm unfortunately starting the process of looking for a new car and will probably be purchasing a new one this weekend. My 2006 Nissan Altima just has ... 77 comments | 2616 Views | Go to page 1 →

  1. #31
    Voice of Reason's Avatar
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    Quote Originally Posted by oldgrappler View Post
    Dave Ramsey.
    I've never read anything by Dave Ramsey and have not listened to his show. The last new car I bought was in 1992 and I've been doing this method ever since. Glad to hear Dave endorses this.
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  2. #32
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    Quote Originally Posted by TheDeuce View Post
    And borrowing money isn't the big bad wolf that Dave Ramsey tells you it is, either.
    Agreed. Debt used wisely is a wealth building tool.

  3. #33
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    Quote Originally Posted by Voice of Reason View Post
    Agreed. Debt used wisely is a wealth building tool.
    Absolutely. Ramsey criticizes having and using credit at a comedic level, and it is unwarranted.

  4. #34
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    Quote Originally Posted by TheDeuce View Post
    Right. Paying cash for huge purchases sounds like a great idea, and is unrealistic for the overwhelming majority of people.
    It's unrealistic for a host of people because they've put themselves in a financial position to make it unrealistic.

  5. #35
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    Quote Originally Posted by Randy Parker View Post
    It's unrealistic for a host of people because they've put themselves in a financial position to make it unrealistic.
    It's unrealistic because most people aren't okay with being miserable in order to save enough money to be able to say they bought a car with cash.

    Using credit isn't negative, regardless of how bad Ramsey wants you to believe. It's no different than anything else, it takes discipline and being responsible.

  6. #36
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    Quote Originally Posted by TheDeuce View Post
    It's unrealistic because most people aren't okay with being miserable in order to save enough money to be able to say they bought a car with cash.

    Using credit isn't negative, regardless of how bad Ramsey wants you to believe. It's no different than anything else, it takes discipline and being responsible.
    Miserable is a strong word. I would use the same words you used in reference to debt: discipline and responsibility. As I said before, we haven't had a car payment in 15 years & in no way have we been miserable. Disciplined and responsible, yes.

    I don't think debt is evil, but neither do I consider it wise. I believe it's in a person's best interest not to have a significant chunk of their income obligated to creditors.

  7. #37
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    Quote Originally Posted by TheDeuce View Post
    It's unrealistic because most people aren't okay with being miserable in order to save enough money to be able to say they bought a car with cash.

    Using credit isn't negative, regardless of how bad Ramsey wants you to believe. It's no different than anything else, it takes discipline and being responsible.
    The people calling for his advice have no discipline and have shown they aren't responsible. His plan for them to get out of debt is being miserable to save money and get themselves out of debt. Using credit definitely isn't negative if you manage it well, but most people don't. IMO Dave Ramsey has to be over the top because those people can't manage credit. The only way for them to dig themselves out of a hole is the extreme measure he lays out.

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    Quote Originally Posted by UKMustangFan View Post
    We値l have to just agree to disagree. Borrowing money for any reason is never a good thing IMO.
    Hey, I don稚 totally disagree with you, and I commend anyone who can live comfortably and completely debt free. But as others have said, using debt wisely is a key avenue to building wealth. The debt I have actually allows me to save more money and helps me budget.

  9. #39
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    Quote Originally Posted by Randy Parker View Post
    Miserable is a strong word. I would use the same words you used in reference to debt: discipline and responsibility. As I said before, we haven't had a car payment in 15 years & in no way have we been miserable. Disciplined and responsible, yes.

    I don't think debt is evil, but neither do I consider it wise. I believe it's in a person's best interest not to have a significant chunk of their income obligated to creditors.
    It's fear mongering by Ramsey to sell his own products, IMO. Almost anything can be bad if it gets out of hand, credit is no different.

    And I used miserable because DR uses it himself.

  10. #40
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    One huge plus of being completely debt free--one that I never really thought of before--is that you hold the cards at your place of employment. I've known a lot of employers that will manipulate or attempt to control employees based on the fact that they provide the salary. Having no debt & sitting on a pile of cash gives you middle finger power, as no debt plus a huge pile of savings enables you to give your employer the middle finger if necessary.

  11. #41
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    Quote Originally Posted by TheDeuce View Post
    And I used miserable because DR uses it himself.
    Gotcha.

  12. #42
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    Using debt/credit to own real estate is one area where it is a great tool for building wealth.

    I also think having an equity line in place on your home is a good idea. It is added liquidity that can help in certain situations.

  13. #43
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    If you can get 0% APR and are responsible with your money, I don't know why anyone wouldn't take advantage of that.

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    Quote Originally Posted by MJAlltheWay24 View Post
    If you can get 0% APR and are responsible with your money, I don't know why anyone wouldn't take advantage of that.
    Because of the thousands of dollars in depreciation when you drive the new car off the lot.

  15. #45
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    Quote Originally Posted by Voice of Reason View Post
    Because of the thousands of dollars in depreciation when you drive the new car off the lot.
    There are products to combat that.

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