That's awesome! You're buying cars like rich people buy them! The smart wealthy people buy cars with cash, and they usually wait a few years to get them for good deals. A lot of guys on this forum are financing basic 2015's for close to 40,000. They should just wait a couple years, save and pay cash for a fully loaded one with all the bells and whistles for half that. But in our gotta have it now society, a lot of people are plunged into debt because they need to get noticed driving the latest car. Don't even get me started on leases!!

 

This is great....I'm actually a Dave Ramsey ELP for taxes and my wife uses his FPU for her financial planning clients that have debt problems......it's amazing to see what debt does to families and even more amazing to see people get into it over and over again.

Haha...thanks and like you, I could get on a huge soap box about leases for sure!

 

I've seen customers that make 6 figures a month finance cars because they can make more money investing their money somewhere else instead of spending it.

 

They're still wasting their money by financing. By the end, they are paying way more than what its worth. Not all wealthy people pay cash for cars, but they definitely save in the long run. I see a lot of rich people leasing cars too, which is basically renting. Most of those leases don't end well, especially the lease to own. They may make 6 figures, but they could invest more in the long run if they paid cash.

 

I'm sorry Pat! This is thread seems to have gone on a tangent! How did we get from Hilary Clinton to buying cars??

Getting back to Hilary: She won't get my vote, but the Democrats are definitely getting behind one candidate which isn't the case for the Republicans. The Democrats will sit back and let the Republicans tear each other to pieces. I think the Republicans really need to focus on one maybe two candidates and invest all their energies on them.

 

Leasing is just an expensive way to finance.

 

There's a difference between a wealthy/rich person and a person who makes 6 figures......many clients I have that make 6 figures also have normal/annual/regular living expenses of 6 figures....meaning their net take home pay is less than some of my clients who are only making $30k a year.

True wealth is not determined by annual pay, but by your net worth and how long you're able to survive should your wages/income stop.

People making 6 figures don't finance cars, at 0% or 5% because they think they can make more by investing.....they finance cars (mostly) because they do not have the liquidity/cash to do it.

Cars, by ALL financial experts, are one of the worst (if not the worst) investments out there.......to the wealthy/rich (outside of those in that business), they are simply 1) transportation or 2) hobby/something to enjoy.

Pretty much.

I'm actually surprised the Dems don't have another GOOD candidate as an alternative to Hillary just because of the endless scandals she's continually associated with.......but I do agree that the Repub field is so big that all the negativity during the primaries will linger in the general presidential election and would be good if we can focus on one or two people.

 

Here this should help get the thread back on track

 

A few years back California had a recall of Gray Davis, the Governor, and rightly so. It spawned a field of candidates that only California could muster, with the likes of Gary (what's up Willis) Coleman and Ariana Huffington. There were also some very qualified people too, but they were lost in the media circus and we ended up with the Terminator........who was a real piece of work!

So I agree on narrowing the field early so we don't end up with another nose holder, like Jeb Bush.

As GOOFY as California is, there is a lesson to be learned here!