On Dec 25, 12:46*am, "Percival P. Cassidy"
wrote:
On 12/24/10 04:50 pm, DGDevin wrote:

Well said. Reckless borrowing is foolish, but wise use of credit to
improve
your future is what separates the men from the Harrys of the world.

Any form of borrowing merely reduces your standard of living. You pay
more.
Hogwash, a zero-interest loan to buy a car is a brilliant investment.
Instead of paying cash I leave the money in an interest-generating
investment and make monthly payments that can come out of petty cash. A
*free* five-year loan, and a new car to drive, what exactly is the
downside of that?

You can't automatically assume that it is a good deal, because typically
you can get *either* an interest-free loan *or* a substantial discount
for cash -- so it depends on what kind of interest you can get by
investing the cash instead of paying for the car with it.

Perce

Exactly so. They are playing on instant gratification syndrome, greed
and aquisitivness of people.

If you want to buy a car efficiently just go out and buy one a year
old. Save 33% or more. You get one then for it's true worth. You can
get one still under warrenty and any defects repaired under that
warrenty. Here in the UK there are car auctions (reposessions) where
cars can be had half price.
Just after the crash you could buy an almost new Porsche, Ferrari.
Mercedes, Jaguar or Lamboghini a year old for less than half price in
the UK.
That's the way to buy!