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Originally Posted by pyroguy
0 payments trumps "0%" financing. Repossession and foreclosure occur on things with payments. Besides cash talks and BS walks. I've been able to get MUCH better cash deals than 0% financing deals because 0% just means they built the cost they're losing on interest into the price of the item.
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Those things can only occur when payments are missed
. Every deal requires it's own evaluation. If I come out further ahead paying cash, I will. If I come out further ahead keeping my money earning interest when someone let's me borrow for free, I'll do that.
Quote:
Originally Posted by Sinister10
i hate being in debt. I was young and dumb once and trashed my credit when i was 18. I had to go a little in debt to get my credit score up to a respectable level.
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Young people often get in credit trouble, it would be great if there was a bigger emphasis on financial education for everyone. Excellent point that you need credit history for those big purchases that most won't have cash for like a mortgage.
Quote:
Originally Posted by BuddyLee
Not always. I have at least four debts not connected to the company financing them at 0% interest. In one example the interest sits in reserve and if a payment is missed then the principle and the interest is due. Otherwise interest only. Also on cash back credit cards is you pay off in full each month you still get the cash points. So if one pays for everything using the cash back card and then pays off the balance with cash you would have used instead, you are indeed ahead.
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Get those 3-5% discounts where you can if you're not going to pay interest on it!