Any car aficionados out there? My partner knows I'm frugal and so he asked me what the smartest way to buy a supercar is. I'm not sure but if it was up to me it'd be paying straight cash. But he argued taking out a loan and investing the "saved" money elsewhere to make his money work for him and not tie it up in a depreciating asset.
I get his logic but there is uncertainty if he invests his money and if we go into a recession, well he paid more for the car (due to interest) and lost money. To me it's a gamble.
I'd rather just pay the car with cash and so you know exactly what you have in it.
He likes to buy cars, drive for 2-3 years, then sell and get something else.
What would you do? Anyone here own a luxury/sports car 150k or more?
Spare me the "I drive a 1927 Ford Model T and it gets me Point A to Point B because I cut holes in the bottom to run it like the Flintstones so I don't pay for gas either."
?
I get his logic but there is uncertainty if he invests his money and if we go into a recession, well he paid more for the car (due to interest) and lost money. To me it's a gamble.
I'd rather just pay the car with cash and so you know exactly what you have in it.
He likes to buy cars, drive for 2-3 years, then sell and get something else.
What would you do? Anyone here own a luxury/sports car 150k or more?
Spare me the "I drive a 1927 Ford Model T and it gets me Point A to Point B because I cut holes in the bottom to run it like the Flintstones so I don't pay for gas either."
?
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