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Isn’t the pain of even thinking about the existence of a monthly payment a true cost? I’d so much rather just pay upfront and never think about it again.
by etrautmann 2y ago
Isn’t the pain of even thinking about the existence of a monthly payment a true cost? I’d so much rather just pay upfront and never think about it again.
- ghaff 2y agoWhen I bought my current car, the financing deal was probably at least neutral to me. But I just didn't want to deal with it.
- fragmede 2y agoWith today's technology, if you can afford to buy it outright, you can setup the right autopay so you don't have to think about it.
- etrautmann 2y agoI only sort of agree. Yes you can setup autopay but it's still there, and you still see charges on your account. Perhaps this is minor, but I still prefer to have no additional things out there floating around that require any thought.
- Volundr 2y agoI've never had an auto loan, is there a reason they couldn't just take the financing to get the incentives and then just pay it in full the next month?
- Kye 2y agoThey can come with early payoff penalties. It seems weird, but a loan is a thing that can be and often is packaged up and sold. If you pay it off, they have nothing to sell. Resale value of your loan is a factor in how much it costs. Asset-backed securities are a strange world of value based on value that can either lead to market collapse (because someone misvalued them, see 2007-2008) or market efficiency (because more people can afford debt for stuff).