twslhs20 Posted June 13, 2021 Share Posted June 13, 2021 Does anyone follow the 20/4/10 rule when buying a car? I want an AWD hybrid but they are way out of my price range following that rule. Gasoline in IL is higher than hell. Quote Link to comment Share on other sites More sharing options...
theJ Posted June 13, 2021 Share Posted June 13, 2021 1 hour ago, twslhs20 said: Does anyone follow the 20/4/10 rule when buying a car? I want an AWD hybrid but they are way out of my price range following that rule. Gasoline in IL is higher than hell. Literally never heard of that rule. What is it? Quote Link to comment Share on other sites More sharing options...
theJ Posted June 13, 2021 Share Posted June 13, 2021 Googled it - nah. I just buy my cars. Cheapest way to get around. Quote Link to comment Share on other sites More sharing options...
Ty21 Posted June 13, 2021 Share Posted June 13, 2021 Downward sloping inner canthus 1 Quote Link to comment Share on other sites More sharing options...
twslhs20 Posted June 13, 2021 Share Posted June 13, 2021 11 hours ago, theJ said: Googled it - nah. I just buy my cars. Cheapest way to get around. As in, you buy with cash? Not really an option for me. Quote Link to comment Share on other sites More sharing options...
agarcia34 Posted June 14, 2021 Share Posted June 14, 2021 It’s gotten so hot the last week here in AZ. Need it to be August already. These next couple months gonna be awful. It’s a dry heat but hot is hot when it’s 113 and up 1 Quote Link to comment Share on other sites More sharing options...
ET80 Posted June 14, 2021 Share Posted June 14, 2021 14 hours ago, agarcia34 said: It’s gotten so hot the last week here in AZ. Need it to be August already. These next couple months gonna be awful. It’s a dry heat but hot is hot when it’s 113 and up August is when the heat gets worse in Texas - it's spikes in May and just rides hard until about September, it's humid over in Houston so it's generally miserable. Quote Link to comment Share on other sites More sharing options...
agarcia34 Posted June 14, 2021 Share Posted June 14, 2021 4 minutes ago, ET80 said: August is when the heat gets worse in Texas - it's spikes in May and just rides hard until about September, it's humid over in Houston so it's generally miserable. August is still hot here in AZ but it’s not as bad as June and July. Can only imagine the humid in Houston man. Terrible weather that makes everything miserable. There are times where I want to go to the store but refuse to cause how hot it is lol 1 Quote Link to comment Share on other sites More sharing options...
ET80 Posted June 14, 2021 Share Posted June 14, 2021 30 minutes ago, agarcia34 said: August is still hot here in AZ but it’s not as bad as June and July. Can only imagine the humid in Houston man. Terrible weather that makes everything miserable. There are times where I want to go to the store but refuse to cause how hot it is lol You actually get used to it, but I'd be lying if I said I didn't miss chores and events because it was too damn hot outside. Those AZ heatwaves are no joke either - I've heard that the pavement can get so hot that certain shoe soles would melt if someone would stand too long. Holy moly, that's hot... 2 Quote Link to comment Share on other sites More sharing options...
LETSGOBROWNIES Posted June 14, 2021 Share Posted June 14, 2021 On 6/12/2021 at 10:18 PM, twslhs20 said: Does anyone follow the 20/4/10 rule when buying a car? I want an AWD hybrid but they are way out of my price range following that rule. Gasoline in IL is higher than hell. Absolutely not. There’s zero fiscal sense imo in plopping down a large down payment or not financing for as long as possible (provided interest rates are good). Paying cash for a vehicle is bad money management imo. 1 Quote Link to comment Share on other sites More sharing options...
LETSGOBROWNIES Posted June 14, 2021 Share Posted June 14, 2021 On 6/12/2021 at 11:30 PM, theJ said: Googled it - nah. I just buy my cars. Cheapest way to get around. If you’re buying inexpensive cars…. maybe. Probably not though. Generally speaking it almost always makes more sense to finance. Quote Link to comment Share on other sites More sharing options...
vikesfan89 Posted June 14, 2021 Share Posted June 14, 2021 Idk its nice not having a car payment Quote Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted June 14, 2021 Share Posted June 14, 2021 26 minutes ago, LETSGOBROWNIES said: Absolutely not. There’s zero fiscal sense imo in plopping down a large down payment or not financing for as long as possible (provided interest rates are good). Paying cash for a vehicle is bad money management imo. The purchase price of the car is dependent on the interest rate, so this doesn't apply. This does apply for a house, since the price is the price and then you finance from there. Quote Link to comment Share on other sites More sharing options...
LETSGOBROWNIES Posted June 14, 2021 Share Posted June 14, 2021 6 minutes ago, ramssuperbowl99 said: The purchase price of the car is dependent on the interest rate, so this doesn't apply. This does apply for a house, since the price is the price and then you finance from there. It absolutely does. Idk about you, but the interest rates on my auto loans have been (well) under 5%, and that’s out 75 months. Over that same time, that same money in the market is earning a ton more than 5%. It also allows for greater financial flexibility as your money isn’t tied up in a vehicle. Quote Link to comment Share on other sites More sharing options...
LETSGOBROWNIES Posted June 14, 2021 Share Posted June 14, 2021 9 minutes ago, vikesfan89 said: Idk its nice not having a car payment Of course it is, but dumping a pile of cash at one time to get there isn’t likely the best use of the cash. Hell lots of places do 0-3% interest for as long as like 72 months depending on model, etc. You’re nuts to pass up money at under 2% interest just to say “i paid cash”. Keep your cash, take the cheap (or maybe free) money, and make the payments. You’re not going to get that time in the market back. 1 Quote Link to comment Share on other sites More sharing options...
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