07-18-2009, 03:18 PM
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#11 (permalink)
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Retired admin
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Quote:
Originally Posted by m4a1mustang
Financing a car is totally fine if you need it. The only issue we financial experts have with it is depreciation. There's risk involved so that's why GAP insurance or a large down payment is a good idea when buying a car. If you can stay above water with your loan you are totally fine.
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Rapid depreciation 
What's the rule on downpayment? Isn't it something like, 15-20%?
I think financing is okay if done right, but as with all credit, people abuse it. As we have seen in other threads, we have kids in here living with their parents purchasing Zs. Many better things to spend money on than a new car. 
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