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Old 05-25-2012, 05:20 PM   #29
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To each his own, but going into retirement with payments is not for me. Just because some one will loan you the money, doesn't mean you should take it. A very smart guy told me one time that the only true freedom was economic freedom. Tied to a payment is not freedom. If you can pay cash for it, you can own it. If you can't, then you shouldn't
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Old 05-25-2012, 05:42 PM   #30
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Quote:
Originally Posted by Mike Thomas View Post
To each his own, but going into retirement with payments is not for me. Just because some one will loan you the money, doesn't mean you should take it. A very smart guy told me one time that the only true freedom was economic freedom. Tied to a payment is not freedom. If you can pay cash for it, you can own it. If you can't, then you shouldn't
This discussion reminds me a lot of those on extended warranties where, IMO, peace of mind is the biggest value one is paying for.

As Mike points out, if you're going to have trouble sleeping at night because you have a payment then paying cash is no doubt the way to go.

But, for some of us, hanging on to our cash and financing depreciating assets makes more sense.

Don't get me wrong. I'm not advocating that anyone should take on debt for an RV when they are already on shaky financial ground but just because one has enough money to pay cash doesn't always mean it makes to most sense for them.

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Old 05-25-2012, 05:52 PM   #31
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Paid cash in order to make the best deal. Then put a loan on it through Costco (Essex), and now have a interest write off on our "second" home. Costco even sends you a $100.00 gift card. Interest rate 4.5% with NO costs other then the cost of a Fed Ex for the notarized docs. deSanford
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