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Dougherty, IA | I wouldn't buy a vehicle with a loan or lease, cash is the only way to go. Buy something slightly used (25,000-50,000) miles on it and drive it til it is dead is my strategy.
I have friends who have vehicles that are worth what they make in a year on loan. Early 20's with a $45K job and $45K truck. Dumb dumb dumb. I just have to laugh at them.
Me and my wife have about 8% of our (Pre-Tax) annual income tied up in cars. We may need to update that a little when we have kids, but don't want that number getting much above 15%. We work too hard and have too big of goals in life than to spend all our money on cars that go down in value with the only intent being to impress people.
To each his own, I guess, but the crutch to the middle class in this country building wealth is the automobile.
Edited by steelguitar 9/19/2014 11:41
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Why lease a vehicle?
