Parking the Bank's property on someone's property becuz you owe them...

[De Dragon]

do like courts man did, buy washer dryer, stove, fridge , on hire purchase, take delivery with door ways not yet finished, build in and reinforce all openings down to 24" door ways and then fit in 22" wide doors.
Not a single payment made after, but nothing can be remove with knocking down 3 door ways either to get out said appliances. owner said they will sue for damages to house... guess who still has appliances.

Yes, fack up your credit history/name, at least yuh gih dem for a few thousands in appliances

[eliteauto]

I see people blasting the 7 year loan. It depends on the reason you take it not so?

Example...a 300k brand new vehicle....you can afford to buy it cash outright...or you can pay 30k down and 4000 a month for 7 years...366k total.

You might think they dotish to do that and they paying 66k extra for no reason. But that's $6,600 a year interest for having use of your 270k cash.

You could invest that 270k in a multitude of other ways repeatedly for 7 years and easily make back that 66k 5 or 10 or 20 times over.

Even getting a basic legal money lenders license and you lend out small portions of that you making good money.

Buy 5 or 6 almera or b15 and put that to work on the road and you making back that money

Buy 50-150 cellphone and sell it back for a $200 profit each and you making back that money.

Hundreds of ways to profit off of using your cash over that time period rather than paying for a vehicle outright. Plus you still getting use of a brand new good vehicle for 7 years.

OPM works for the very few. The reality is most people doing 7 year financing on a vehicle aren't doing it to invest elsewhere, they're doing it because their salaries qualify for the loan

[l33t2]

I see people blasting the 7 year loan. It depends on the reason you take it not so?

Example...a 300k brand new vehicle....you can afford to buy it cash outright...or you can pay 30k down and 4000 a month for 7 years...366k total.

You might think they dotish to do that and they paying 66k extra for no reason. But that's $6,600 a year interest for having use of your 270k cash.

You could invest that 270k in a multitude of other ways repeatedly for 7 years and easily make back that 66k 5 or 10 or 20 times over.

Even getting a basic legal money lenders license and you lend out small portions of that you making good money.

Buy 5 or 6 almera or b15 and put that to work on the road and you making back that money

Buy 50-150 cellphone and sell it back for a $200 profit each and you making back that money.

Hundreds of ways to profit off of using your cash over that time period rather than paying for a vehicle outright. Plus you still getting use of a brand new good vehicle for 7 years.

OPM works for the very few. The reality is most people doing 7 year financing on a vehicle aren't doing it to invest elsewhere, they're doing it because their salaries qualify for the loan

Yes you're right. But you all also missing another piece of the puzzle which is inflation.

If those values are correct (which they can be depending on the interest rate you negotiated), given our high inflation rate. I rather pay as little down now.

Using the above figures, and assuming our inflation rate remains around 5%, you're better off paying 366k over the loan period than paying it in cash or with a shorter loan.

[RedVEVO]

I see people blasting the 7 year loan. It depends on the reason you take it not so?

Example...a 300k brand new vehicle....you can afford to buy it cash outright...or you can pay 30k down and 4000 a month for 7 years...366k total.

You might think they dotish to do that and they paying 66k extra for no reason. But that's $6,600 a year interest for having use of your 270k cash.

You could invest that 270k in a multitude of other ways repeatedly for 7 years and easily make back that 66k 5 or 10 or 20 times over.

Even getting a basic legal money lenders license and you lend out small portions of that you making good money.

Buy 5 or 6 almera or b15 and put that to work on the road and you making back that money

Buy 50-150 cellphone and sell it back for a $200 profit each and you making back that money.

Hundreds of ways to profit off of using your cash over that time period rather than paying for a vehicle outright. Plus you still getting use of a brand new good vehicle for 7 years.

OPM works for the very few. The reality is most people doing 7 year financing on a vehicle aren't doing it to invest elsewhere, they're doing it because their salaries qualify for the loan

Yes you're right. But you all also missing another piece of the puzzle which is inflation.

If those values are correct (which they can be depending on the interest rate you negotiated), given our high inflation rate. I rather pay as little down now.

Using the above figures, and assuming our inflation rate remains around 5%, you're better off paying 366k over the loan period than paying it in cash or with a shorter loan.

What high inflation rate ?

[Monk BANzai]

Inside for some of the comments and having knowledge of op source of original discussion.

Thanks....and as you can see...how errant that discussion now given some of the views presented here. You can appreciate why "swift" ackshun was needed lol.

[Monk BANzai]

yup
Sometimes ppl really fall on hard times thru no fault of their own & end up in these situations, but most times in those instances those are the ones that deal with the bank in the most straight forward manner, & they get out of their debt (minus the asset of course) easier, with their name & credit in tact.

But is when the other set do they kaka, is everybody tend to be especially hard with them, bank, magistrate, bailiff, & it hardly ever works out in their favor. & they always have some long ass sob story, looking for sympathy & a ease up & time to pay. but they eh really want to pay, they want a head start to abscond.

Correct. And with the first set you have some colleagues who push a level of fear mongering into the pysche of others.

[Monk BANzai]

I see people blasting the 7 year loan. It depends on the reason you take it not so?

Example...a 300k brand new vehicle....you can afford to buy it cash outright...or you can pay 30k down and 4000 a month for 7 years...366k total.

You might think they dotish to do that and they paying 66k extra for no reason. But that's $6,600 a year interest for having use of your 270k cash.

You could invest that 270k in a multitude of other ways repeatedly for 7 years and easily make back that 66k 5 or 10 or 20 times over.

Even getting a basic legal money lenders license and you lend out small portions of that you making good money.

Buy 5 or 6 almera or b15 and put that to work on the road and you making back that money

Buy 50-150 cellphone and sell it back for a $200 profit each and you making back that money.

Hundreds of ways to profit off of using your cash over that time period rather than paying for a vehicle outright. Plus you still getting use of a brand new good vehicle for 7 years.

Some business owners opt for the lease option instead and then purchasing the car at the end of the lease and flipping it. Then there's negative equity where you owe more on your loan than your car is worth at some point. .. *shrugs.... depends on your long term goals...