Got sick of paying interest...

[Wizard1183]

I think those with the thinking of that you don't want the risk of losing money when you invest? Need to restructure your thinking. What many of you need to realize is investment never happen overnight. You're not going to wake up tomorrow and pay off your camaro. It takes time. And of course money. Even a small amount to get started will bring you much more than you started with. The idea is to have your money make money. Your money is like workers at your company. You want them to sit there idle? Or you want them being productive?

[thepirate]

Originally Posted by ravensjeff

Now go drop another $35k at Lingenfelter's and see how good that feels!!

What i need to do is go trade it in for a ZL1 and get that payment right back on my books.

[Ice Demon]

Nice

[ActNup NY]

Congrats !! I bought mines str8 out same day. Didn't want to deal with all the BS !! It's a good feeling aint it?

[Chevy69er]

Originally Posted by thepirate

What i need to do is go trade it in for a ZL1 and get that payment right back on my books.

Na just put some mods on it and eat zl1's and gt500 for lunch! BTW I have a 5k sq ft. house in South Jordan for sale!

[theragtopguy]

Hopefully, I will hit the lottery and be able to pay mine off!!!

[Aubrey64]

Congrats!

[Twoblindsheep]

i got lucky... 0% for 72 months..
thats right.. no interest !

[Wizard1183]

Originally Posted by Twoblindsheep

i got lucky... 0% for 72 months..
thats right.. no interest !

On a camaro? I didnt know they had 0% interest for the Camaro? Awesome.

I bought my gf a 2012 Honda accord, 0.9% interest. My note is around $350 a month and $320 goes to principle every month. I financed for 72 months I believe? I thought about taking my $12k from income tax and dumping it on the car. How stupid of me to think like that. I took $15k and invested it into a fund which at the end of 6-7 yrs, I should have about $6-8k made from the investment. So instead of blowing money on something that will depreciate in value, I decided to make more money with my money.

[james347]

Awesome. Great feeling.

[Twoblindsheep]

Originally Posted by Wizard1183

On a camaro? I didnt know they had 0% interest for the Camaro? Awesome.

yeah i didnt either.. i was gonna get 4.9% which isnt bad i guess.. but Ally was able to get me 0%

[OrangeVert]

Woohoo - congrats!!

[Norm Peterson]

Originally Posted by Wizard1183

I think those with the thinking of that you don't want the risk of losing money when you invest? Need to restructure your thinking. What many of you need to realize is investment never happen overnight. You're not going to wake up tomorrow and pay off your camaro. It takes time.

It's hard to step outside yourself and see things from the same perspectives as others do.

Not everybody has the same risk tolerance, or the same ability to recover from financial setbacks. Experiences involving the latter will inevitably affect your acceptance of risk, particularly if your day job never involved money management. Nor is everybody inherently a gambler.

Asking people hesitant to accept the risk of loss to restructure their thinking sounds a lot like somebody like me suggesting that a financial guy needs to learn how to think like an engineer when it comes time to choose his car mods or make the detail decisions regarding home improvements that would entail structural assessment. Guaranteed that wouldn't be an overnight adaptation either.

Where you are in your life matters as well. As you get older you won't be as tolerant of risk as you might have been at age 35 - even if you're still employed full time. Anything bad happens in the market, you won't have the same ability to recover, maybe not even the same as I did this last time around.

Investing the (say) $15k and continuing to pay a note does not always work if your employment is less than stable. Given that you still need the car, paying $320/month from a household income that has suddenly dropped by two thirds is not a happy prospect, with the very real chance of losing every penny that you've "invested" in that car. Suddenly the long term outcome of investing the $ in the financial world is not as bright as it was going in.


I don't think I could assign a dollar value on approaching full retirement age knowing that I owe nothing on anything other than last month's credit card purchases. When the rest of you guys get here, isn't that what you want?


Norm

[oldfriend]

Originally Posted by theragtopguy

Hopefully, I will hit the lottery and be able to pay mine off!!!

Do you know that to win you have to play first, then just by playing you only increase your chances by 1 in 70 millions , so your chances are still very limited