YES alwaysQuote:
Originally Posted by Zerohero
i mean if you absolutely cannot get to work than i guess maybe, but really, buy a cheaper car
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YES alwaysQuote:
Originally Posted by Zerohero
i mean if you absolutely cannot get to work than i guess maybe, but really, buy a cheaper car
Really? I thought the rule was that it was alright as long as you don't (I forget the term) end up paying on one car after it's dead and you have a new car.
What's compound interest? I am intrigued.
http://i.cnn.net/money/galleries/200...es/gal_pie.gifQuote:
Originally Posted by stormy
Right, but that's only half the story. Your credit rating is (partly) determined by the ratio of all your debt to all your available credit. When you close accounts, your available credit goes down, so you could be hurting your credit score as much as you would if you got into debt. (Without actually being in debt, which would suck for more than just your score.)
But if you say had all your cards balance at 0, and then closed a card wouldn't that then leave you with the same ratio?
Here's a protip: Save as much as you can. Just a little peek at what lies ahead for us younger folks.
Take it for what it's worth.Quote:
The massive wave of baby boomers that will soon be eligible for social security and medicare places a tremendous strain on the economy over the next 10-30 years. Social Security gets all the press, but Medicare is the monster problem-------5-6 times the financial strain of Social Security. Another report today shows that the healthcare inflation rate last year was 6.7%, 3 times the regular rate of inflation and not likely to get better anytime soon, no matter whoever wins the election.
it's less horrible that way, sure, but you're still borrowing to own a depreciating asset. you don't actually ever own anything that way - when you stop paying, you stop driving. you may as well have leased.Quote:
Originally Posted by Thief Silver
(if this winds up being cheaper than a lease, then it's not such a bad deal. borrowing a few grand for a used car is infinitely smarter than financing a new car. i would avoid borrowing anything for a car if at all possible, though.)
i mean, if it's the only way to keep on the road, then do what you have to do.
That shit is not going to work anymore, noob.
*to theif*
the total available credit would be lower. its a ratio of borrowed money to money allowed to borrow basically.
That's not necessarily true, part of the enjoyment of a car is that one or two years after you have paid off the car.Quote:
- when you stop paying, you stop driving. you may as well have leased.
IE the Seabring we bought via financing was paid off two years ago.