Let's talk finances

[JetDriver480]

For what it's worth my Credit Score actually went up by taking out a loan on the truck. My credit has never been above 750 as the only other thing I have financed is a home. Crazy how owing more people money can help your credit?!

 

[Kowboy17]

My advice is to never dump money into a depreciating asset. Put some down but finance the rest. Save your money in savings and earn interest by investing it in something that earns a return.

This! NEVER spend your savings on a depreciating asset. Spot on brother.

Life takes funny bounces, it bounces wrong, let them come and take it. Keep your money growing FOR you.

 

[Frank N]

At 25, I was happy to have enough cash for beer for the weekend... a lot has changed in 25 years for me.

Just by you asking the question, I'd say you would do well to find a financial planner...and pick up the tab at the bar this weekend for your friends.

 

[2SVT'S]

I put 16k down and financed the remaining 45K @1.19% through a CU, Navy Federal CU to be exact. That puts payments around $775 for 60 months. My advice would be to only finance enough to have comfortable payments and stay cash flow positive. A 60 month loan at 1.1% is apx $1350 in interest. Not sure about the 100k in savings...put that money to work, invest it...wisely. It's not making anything sitting in a savings account.