Next Z to be unveiled in 2013 Tokyo auto show.

Pitch · 12-23-2013, 02:58 PM

Well...first time buyer I'm at 6.8%

Now...I'm up to 722 credit score and can get way better

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Chuck33079 · 12-23-2013, 02:59 PM

Quote:

Originally Posted by Pitch

Debt is debt and you can't say it's not.

Sure I can, and i'd be right. One is tax deductible used to purchase an appreciating asset. The other is used to purchase a vehicle, which is a liability. A house is good debt, the car not so much.

Quote:

Originally Posted by Pitch

Im not arguing they are of the same i.oirtance or anything now, dont get me wrong

Did you not read the part where I said once I pass 10k it's for a house jot a car?

That's the first thing you've said that has made any financial sense. Keep the Mustang several more years and buy a house. That's the right move.

Firebase99 · 12-23-2013, 02:59 PM

Quote:

Originally Posted by MMC Racing

With today's low interest rates (although he is so young he might not qualify), no money down is a great option. I'll pay that 1.49-1.99% all day long on a car note so I can invest the cash at 10%+ (32% in 2013).

Debt is not scary or a bad thing. Success is determined in how you leverage it.

What cash???? no offence to him, but hes 21 and way upside down a 5.0. Yea, borrow at low percentage and retain cash making more %. Great idea, IF you have the cash.

MMC Racing · 12-23-2013, 03:01 PM

Quote:

Originally Posted by Firebase99

What cash???? no offence to him, but hes 21 and way upside down a 5.0. Yea, borrow at low percentage and retain cash making more %. Great idea, IF you have the cash.

Don't be obtuse, the post I quoted mentioned a down payment.

Chuck33079 · 12-23-2013, 03:02 PM

Quote:

Originally Posted by MMC Racing

With today's low interest rates (although he is so young he might not qualify), no money down is a great option. I'll pay that 1.49-1.99% all day long on a car note so I can invest the cash at 10%+ (32% in 2013).

Debt is not scary or a bad thing. Success is determined in how you leverage it.

This only works if you have the cash on hand, and the discipline to invest it and not spend it. If you're paying <3%, by all means. Over that,paying down the note is a better plan.

Pitch · 12-23-2013, 03:05 PM

Quote:

Originally Posted by Chuck33079

Sure I can, and i'd be right. One is tax deductible used to purchase an appreciating asset. The other is used to purchase a vehicle, which is a liability. A house is good debt, the car not so much.

You say sure you can say it's different. Then at the end your still saying they are both debt. Which you just argued against....

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Pitch · 12-23-2013, 03:06 PM

Guys guys guys...you say I'm 21 like I'm making 20k a year. Don't be so harsh!

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Chuck33079 · 12-23-2013, 03:08 PM

Quote:

Originally Posted by Pitch

You say sure you can say it's different. Then at the end your still saying they are both debt. Which you just argued against....

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I said nothing of the sort. I very clearly stated that tax deductible debt used to buy an appreciating asset is a completely different thing than a car note.

Pitch · 12-23-2013, 03:12 PM

You owe some one money and make monthly payments because you had to borrow money. That's debt. Whether it's for a house or car it's the same thing. It's still debt.

Now, is there a huge benefit to the debt from a mortgage? Of course. But that's not the point I'm arguing here and never have been.

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Firebase99 · 12-23-2013, 03:14 PM

Quote:

Originally Posted by MMC Racing

Don't be obtuse, the post I quoted mentioned a down payment.

Im lost. He seems to be somewhat cash "heavy". In debt with family, upside down on a $32K car and didnt qualify for a 370Z loan. What down payment? Wheres all this money hes putting down? Invest what money? We are talking trade in values and loans, not MUCH more if Im not mistaken.

Chuck33079 · 12-23-2013, 03:16 PM

Quote:

Originally Posted by Pitch

You owe some one money and make monthly payments because you had to borrow money. That's debt. Whether it's for a house or car it's the same thing. It's still debt.

Now, is there a huge benefit to the debt from a mortgage? Of course. But that's not the point I'm arguing here and never have been.

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Ok, good luck with all of that. I love the infinite wisdom of people who were teenagers two years ago. Tell us more about how much you know about these things.

You realize we're trying to tell you some things so you don't spend your late twenties digging yourself out of a hole you dug for yourself at 21, right?

Pitch · 12-23-2013, 03:16 PM

It was a scenario.....man, you guys are so dense today

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Pitch · 12-23-2013, 03:17 PM

I love the infinite wisdom of people that can't understand we are arguing 2 different points. I agreed with you, and your still arguing. Jesus

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Firebase99 · 12-23-2013, 03:17 PM

Quote:

Originally Posted by Pitch

It was a scenario.....man, you guys are so dense today

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Not just today man. Most days. Mondays though, its bad, real bad.

Firebase99 · 12-23-2013, 03:18 PM

Quote:

Originally Posted by Pitch

I love the infinite wisdom of people that can't understand we are arguing 2 different points. I agreed with you, and your still arguing. Jesus

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There are three types of people in this world, those that can meow and those that cant.

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12-23-2013, 02:58 PM	#781 (permalink)
Pitch Enthusiast Member Join Date: Jan 2013 Location: Garden Grove Posts: 347 Drives: 5.0 Yacht Rep Power: 12	Well...first time buyer I'm at 6.8% Now...I'm up to 722 credit score and can get way better Sent from my SM-N900V using Tapatalk

12-23-2013, 03:06 PM	#787 (permalink)
Pitch Enthusiast Member Join Date: Jan 2013 Location: Garden Grove Posts: 347 Drives: 5.0 Yacht Rep Power: 12	Guys guys guys...you say I'm 21 like I'm making 20k a year. Don't be so harsh! Sent from my SM-N900V using Tapatalk

12-23-2013, 03:12 PM	#789 (permalink)
Pitch Enthusiast Member Join Date: Jan 2013 Location: Garden Grove Posts: 347 Drives: 5.0 Yacht Rep Power: 12	You owe some one money and make monthly payments because you had to borrow money. That's debt. Whether it's for a house or car it's the same thing. It's still debt. Now, is there a huge benefit to the debt from a mortgage? Of course. But that's not the point I'm arguing here and never have been. Sent from my SM-N900V using Tapatalk

12-23-2013, 03:16 PM	#792 (permalink)
Pitch Enthusiast Member Join Date: Jan 2013 Location: Garden Grove Posts: 347 Drives: 5.0 Yacht Rep Power: 12	It was a scenario.....man, you guys are so dense today Sent from my SM-N900V using Tapatalk

12-23-2013, 03:17 PM	#793 (permalink)
Pitch Enthusiast Member Join Date: Jan 2013 Location: Garden Grove Posts: 347 Drives: 5.0 Yacht Rep Power: 12	I love the infinite wisdom of people that can't understand we are arguing 2 different points. I agreed with you, and your still arguing. Jesus Sent from my SM-N900V using Tapatalk