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Originally Posted by MITCHAY
Another reason why it is good to buy a car outright.
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That is a good idea. My mum bought a brand new Focus outright but before she did sshe asked me would it be better getting finance and keeping her cash earning interest on it. I told her that you can earn 6% on the cash but you will be paying close to 13% interest on the loan.
If you dont want to buy a house, fair enough its up to the individuals choice, you seem to be on a very good wage espicially for your age. Why dont you save the cash to pay for the car instead of getting a loan, or maybe even save 15K and get a 15K loan. I was living off $200 a week when I was your age, which was 8 years ago, surely you can save the money.
07-01-2007, 06:38 PM
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