Who has their Camaro paid off?

[8balldeluxe]

Paid off at thanksgiving time

[Indydriver]

When they give you free or nearly free money, go use it for something else.

[jd10013]

Originally Posted by Redrocker1958

Go ahead and convince yourself if you like that its better to a payments every month if it makes you feel better
My title when home with me the day I bought it.. That's "why the heck I would want to pay cash" for it..its mine not some 3rd world owned banks ..just waiting to find a reason to come get it b/c your finance's farted..or you lost your job.or one of to many things that could and will happen..life happens..and when it does I have no one looking for me and my stuff...everything I have I own.only way I go

a payment is much better. as others have explained, 40k earning 5% a year over 5 or 6 years is quite a bit of money. as long as interest rates are near zero, and you can borrow for next to nothing, it makes absolutely no financial sense to pay that much cash for anything. you may enjoy not having a payment, but financially it's stupid. it's not complicated, more like investing 101. it's how the $100 a week my wife and I put in our 401K's has ballooned to about 200k in about 12 or 13 years. and by the way, even if you finance you still own the car. the bank has a security interest in it (ie, a lien) but it's still yours.

[0331Marine]

Nope, with my APR on my 2012 there's no point in it.

[Aqua Velva]

Paid cash for mine so no car payments for me.

[pyroguy]

You people defending payments are crazy. 100% of legitimate repos are on cars with loans. Miss a payment or two whether intentional or unintentional and they can repo your car. Sometimes life happens and you have unexpected expenses that may make it so you can't pay your payment unexpectedly. Why not have a car that you own 100% and not have to worry about owing someone else? It's not yours until it's all yours. Even if you still owe $0.01 it can still be repoed. Take the amount that you would have spent on a payment and invest it every month if you're that concerned about making that money grow. Will it make 100% as much as if you just threw a lump sum at an investment out of the box? No, but you don't have to worry about life happening preventing you from paying the whole thing off and ending off worse than if you'd just paid off the car.

[bork_bork]

Had my SS paid off and sold it now I owe $20K on the ZL1

[drew peacock]

Originally Posted by pyroguy

You people defending payments are crazy. 100% of legitimate repos are on cars with loans. Miss a payment or two whether intentional or unintentional and they can repo your car. Sometimes life happens and you have unexpected expenses that may make it so you can't pay your payment unexpectedly. Why not have a car that you own 100% and not have to worry about owing someone else? It's not yours until it's all yours. Even if you still owe $0.01 it can still be repoed. Take the amount that you would have spent on a payment and invest it every month if you're that concerned about making that money grow. Will it make 100% as much as if you just threw a lump sum at an investment out of the box? No, but you don't have to worry about life happening preventing you from paying the whole thing off and ending off worse than if you'd just paid off the car.

very wise words..
same with houses..untill that last payment is made they can take it off you.
almost paid off our house..camaro was paid in cash

[Olddudesrule]

Paid cash. Don't like financing cars, especially a second or third car. Been slowly modding it, and will likely continue. No interest in the G6 at this point, and will likely move on to another performance car in the next 3-4 years. Variety is the spice of life.....

[failshift]

I like how everyone acts like its nothing at all to save/have 40k cash.......


•••••••••••••••••••••••••••••••••••••••••••••
SLP supercharged 2013 SS/RS 1LE VR
Full front half protected by Xpel PPF
Instagram:@Failshift
550hp/540tq @8.6psi
1LE Owners Group:
https://www.facebook.com/groups/559684050767758/

[Vipercar]

Paid cash, as mentioned before, don't like car payments.

[drew peacock]

Originally Posted by failshift

I like how everyone acts like its nothing at all to save/have 40k cash.......


•••••••••••••••••••••••••••••••••••••••••••••
SLP supercharged 2013 SS/RS 1LE VR
Full front half protected by Xpel PPF
Instagram:@Failshift
550hp/540tq @8.6psi
1LE Owners Group:
https://www.facebook.com/groups/559684050767758/

i dont drink i dont smoke. i never go out..i live on NOTHING. saving up is easy if you put your mind to it..
you want nice things and u aint super rich it's called sacrifices untill you get what you want.
once we've paid the house off i will able to save 30k a year. i plan to buy a 911 turbo then

[failshift]

Originally Posted by drew peacock

i dont drink i dont smoke. i never go out..i live on NOTHING. saving up is easy if you put your mind to it..

you want nice things and u aint super rich it's called sacrifices untill you get what you want.

once we've paid the house off i will able to save 30k a year. i plan to buy a 911 turbo then

I work 80-90hrs a week 6am-8pm 7 days a week. Every single week since New Years. Because I wanted something extra than my normal 50hr weeks. I was born and raised in Texas. You don't have to tell me what hard work is.

I am aware of this. I just put 10k in mods. Still doesn't mean a lump of 40k is just saveable in a few months for the vast majorit

[Welker2]

Originally Posted by failshift

I like how everyone acts like its nothing at all to save/have 40k cash.......


•••••••••••••••••••••••••••••••••••••••••••••
SLP supercharged 2013 SS/RS 1LE VR
Full front half protected by Xpel PPF
Instagram:@Failshift
550hp/540tq @8.6psi
1LE Owners Group:
https://www.facebook.com/groups/559684050767758/

Don't think anyone is acting like its nothing to save/have $40K. I'm 55, have worked hard and invested/saved since I was 16. As a result, since retiring and thanks to hard work, good retirement planning, some wise investments and some luck over the years, we are now in a position to pay cash for luxuries...it's not always easy, but if you start early, it can be done