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When it comes to cars, what's often offered is 0% financing or some kind of cash back. It may actually be better to go with the cash back. Preet Banerjee made
by throw0101a 6y ago
When it comes to cars, what's often offered is 0% financing or some kind of cash back. It may actually be better to go with the cash back.
Preet Banerjee made a 10 minute video laying out the math on why not going with 0% financing may be better:
* https://www.youtube.com/watch?v=KGPu0jPryfU https://www.youtube.com/watch?v=KGPu0jPryfU
- LudwigNagasena 6y ago> When it comes to cars, what's often offered is 0% financing or some kind of cash back. Well, that just means the financing is not 0%.
- jedberg 6y agoThat video was good, but I'm disappointed he didn't point out that it's usually better to rent a depreciating asset, ie. get a lease. Of course there are a lot of other factors, like how long you typically keep your car for. But if you're the kind of person who like a new car every 3-4 years, it's almost always better to just lease the car than to buy it. Especially if you have a schedule C business that you can write some of it off against.
- throw0101a 6y ago> That video was good, but I'm disappointed he didn't point out that it's usually better to rent a depreciating asset He has lots of video on personal finance. I'm sure it's covered in one of them (he has a rent versus buy-house comparison for example: IIRC he used to own, but now rents).