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Old 12-04-2012, 05:58 PM
BimmerX5D BimmerX5D is offline
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Location: Calgary Canada
 
Join Date: Nov 2012
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Mein Auto: 2012 X5 xdrive35D
Quote:
Originally Posted by finnbmw View Post
I have a simple rule that has worked very well for me: If I can't afford to pay it with cash, I can't afford it. Buying real estate (home, 2nd home etc) is excluded from the above rule.

Lot of people finance their cars, I would never do it myself. Why pay the bank interest when you can pay yourself the interest. Plus I enjoy living debt free...
very different perspective There is no right or wrong answer. It is all specific to individual situation. Some would say why pay your own money when you can borrow for 0.9% apr. Almost free money for a depreciating asset. But at the end of the day dont break your bank to buy an expensive pile of metal. Do it only if it does not impact your important priorities in life (home, family, retirement saving etc..)

Last edited by BimmerX5D; 12-04-2012 at 06:00 PM.
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