Whipple or jet ski

[GrabThatBlue]

Get both. Life is short and that’s what credit cards are for.

Noooooooo.. I really hate credit and really dislike these advices. Don't make others rich and yourself poor.

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[Old School1]

They both add 300 horsepower to my garage for about the same price. Only one might blow up my mustang.

Get the jetski so you can have fun on the road and in the water …..but careful, you CN catch a bug and add 420hp in the form of a boat. Then you need a truck!

 

[Starship Enterprise]

Noooooooo.. I really hate credit and really dislike these advices. Don't make others rich and yourself poor.

I’ve bought a lot of things with 0% financing. Just broke the price down to monthly payments. Companies like Synchrony do it all the time. Price of items did not increase either.

BTW….Did you finance your car? Somebody got that interest.

 

[GrabThatBlue]

I’ve bought a lot of things with 0% financing. Just broke the price down to monthly payments. Companies like Synchrony do it all the time. Price of items did not increase either.

BTW….Did you finance your car? Somebody got that interest.

Nope, I didn't finance my car. I'm from Europe. Financing a car is not something we do much over here. The only financing I had in my life was my house.

Even 0% financing is bad. There is always a catch to it. And on top of that, you are buying something with money that's not yours. Your enjoying something that's not yours. The day will come that you enjoy it less but you still have to pay for it. I don't want to be attached to loans, because you never know what financial situation you will get in. Even when you are financially stable, it's better to live your own standards.

The loan taker is never the winner, otherwise there won't be loans given to people. The USA system is based on loans and the loan givers are making hige profits out of this cultural thing.

But this is a topic I would not win anyways, because financing is something really embedded in the USA culture for decades, and people grow up like it's normal and they even teach kids for a young age to start taking credit and pay stuff to participate in this credit score thing to get loans even easier and higher. It's something I can see from the outside, but from the inside I can understand why it's totally normal.

 

[Decio]

I wish someone taught me about credit when I was young - could have saved me a lot of grief and money. I'm all for teaching the next generation about credit and how to use it responsibly. In the USA, your first interaction with credit shouldn't be buying a home - that won't go well. I encourage everyone to learn about the different components of credit scores and help educate others.

If you need a cash advance or payday loan for a jet ski - you cannot afford a jet ski. If you can buy one outright without disrupting day-to-day finances, rock on! I saved for a few years so I could by my GT outright - don't buy what you cannot afford and that way credit is a tool, not the Devil.

Off my soap box now.

 

[dee29486]

They both add 300 horsepower to my garage for about the same price. Only one might blow up my mustang.

Jetski

 

[Starship Enterprise]

Blue and Decio….it’s cool, you both have valid fundamental points that are inarguable... My comment was somewhat tongue-in-cheek. Life is short, but being in deep debt is not fun. FWIW, I paid cash for my car. I wouldn’t have bought it otherwise.

 

[MustangNoob]

How about buying a supercharged jet ski? That would be more fun

 

[LouG]

Noooooooo.. I really hate credit and really dislike these advices. Don't make others rich and yourself poor.

They work if you pay them off every month, which the companies hate. We haven't paid card interest in 22 years.
Same with cars, we took 36 months interest free on the last one because our investments were doing very well diidn't want to take money out. Not so much now, so we paid cash for my wife's car and the Ford.

 

[GrabThatBlue]

They work if you pay them off every month, which the companies hate. We haven't paid card interest in 22 years.
Same with cars, we took 36 months interest free on the last one because our investments were doing very well diidn't want to take money out. Not so much now, so we paid cash for my wife's car and the Ford.

Yes when you pay it works. But when you don't it can ruin your life. So I don't participate in that kind of scam.

I've learned to pay what I have and if I don't, I don't.

Buying something out of the money you saved for gives more satisfaction and you feel that you worked for it.

Buying things that is not yours makes the way to get things feel easy and the satisfaction is not there.

And when you are done with the thing you bought, you still have a payment going on something you don't like anymore.

Nope.

 

[LouG]

Yes when you pay it works. But when you don't it can ruin your life. So I don't participate in that kind of scam.

I've learned to pay what I have and if I don't, I don't.

Buying something out of the money you saved for gives more satisfaction and you feel that you worked for it.

Buying things that is not yours makes the way to get things feel easy and the satisfaction is not there.

And when you are done with the thing you bought, you still have a payment going on something you don't like anymore.

Nope.

I completely understand what you're saying, but we are very financially disciplined. Our system works well, we have done very well out of the Amex points too.
It a shame that recent generations aren't taught more financial wisdom.

But here's something strange. I bought a new phone, the provider we are with offers interest free deals on them. So, when I sold my old phone I wanted to pay a lump sum off the new one and they wouldn't allow it. Even though it's an ongoing cost to them.

 

[Kevi]

If you get special financing rate like 1.9 or 2.9 or whatever you're an idiot not to take it.

Even if you dont want to invest your 40-50k mustang money in the stock market for 7+% annual return you could stick it in a safe money market account and get 4-5% annual returns letting other people make 7+% or more off your money in the stock market.

Any finance rate under 6% is basically free if you invest your principal in a smart way.

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