I always finance 100% if I can because I don't want to tie my money up in what is essentially a toy. I figure if things get really bad, I can discontinue payments and let them repossess my bike. I had to pay 10% down on my X Bones purchased in 2008. It's no longer under water!

I ended up using the rest of the cash I had to make a down payment on my summer home. Not a good investment!

I like both the bike and the home however.

 

Financed ... if i had cash for it i would pay cash... Low interest orno interest loans is what i do...If i wait to save up money to pay cash for all the **** i want i won't have ****...Next thing i know i wake up dead and had nothing...this way i have it...Like i say if you can pay cash for it knock yourself out. My credit is good,,,... Haven't paid a penny of interest for all my furniture, appliances, computers, electronics...1.9% for my car was actually cheaper than 0%... 3.9% for the harley not bad...

Modifications is another story... i have about $1500.00 of mods (what i paid) would probably would've spent around $3000 if i would've let somebody else do it for me...

Everyday i get older and decrepit and i enjoy all the **** i have to the max....I might lose it all and i can say i had it....My dad died at 60 and was always saying i wish i would've this n that... i promised myself i wouldn't do that... no i can say i did this n that went here n there...Ate fancy foods, drank fancy liquor, rode a nice harley and a new car and lived in a nice house....

Now i can die happy...well i have to cook some supper tonight and have a cold beer first... then i can die...

 

paid cash in full for everything i own. financed one thing , a pickup, straight out of high school. never have since. payments and interest sucks

 

There are two schools of thought...

Debt is bad and being debt-free = being free.

Never use your own money when Other People's Money (OPM) is available; it's called leverage an when risk is managed carefully you will usually come out ahead. Often times, well ahead.

Reality exists somewhere in the middle, so using my money or OPM often times depends on what's going on at the time. When I decided to buy our Harley the market was in the toilet and I had moved all of our investments into stable bonds, which weren't going south but they also weren't growing. So, last year's IC check was traded for the Harley. Of course, now that the market is starting to behave a little better I kinda wish I'd financed, as there are some investments I could have made with the cash that went into the Harley.

So, next time around I'll probably use OPM.

 

I don't understand what you mean...

Everthing I own is above water, the house, the bike the car... and cash is always above water....

 

And, how about you, are you a Mopar man??
Actually this is a first for me, Mopar that is. Turns out
it's a great vehicle. I won't know how reliable it is till it
stops, but nothing is bug free these days. Ya take your chances.

 

Paid cash.....well, cashiers check, but same thing.

Don't really care what other people do, but I can't stand owing money anymore. I just want to be free, and that can't happen when I'm upside down in all my finances.

The dictionary defines slavery as.........the state of being bound in servitude as an instrument of labor. That is exactly how I feel when I can't quit my job, take time off to do something I want, or take a break because I must keep working to pay the payments on stuff I couldn't afford in the first place.

When I was 22 and dumb, I financed a used Mustang at 8% interest....not to bad in the grand scheme of things but I did learn my lesson. All I did was spend my FUTURE money. But it wasn't really money I spent. It was my labor and time. Money is just a representation of this.

I don't look at things in terms of money anymore. I think of it as how much labor must I do for this. Were not as advanced of a society as we think we are. Indentured servitude and slavery continue today, just in a different form.

 

Cash, but don't be misled. I have 2 HUGE car payments!

 

Its all in how you look at it I suppose. I have always figured that those who could afford to pay extra on interest must be rich. How else could they afford to pay more than absolutely necessary for something.

Michael

 

Assets over liabilities = positive net worth

Liabilities over Assets = negative net worth (Less than zero)

If you owe more than you can pay off by just stroking out a check at any moment, you have a negative net worth.