Lets use a simple example....
Say you have a $150k mortgage on your house at 4% interest.
You have saved $50k for a new truck.
The dealer has 0% financing on a new truck
The smart plan would be to buy the truck on credit and use the $50k to pay towards your mortgage, the numbers look even better if instead of saving the $50k you payed towards the mortgage as you went.
You would save 4% , now compound that and you have some real money.
Or you could pay cash for your new truck...... hmmmm
So it's not so black and white.... a million ways to skin this cat and everyone's needs and situation is different
What's missing here? The fact that USED is the way to fly until the roof over your head is owned fully. I have owned more outright pieces of crap that required a handy toolbox daily than Carter has liver pills.
This nationwide desire for latest-greatest in vehicles is what drives folks to bankruptcy and a life of debt.
Thank God my parents and grandparents taught me to go out and get dirty fingernails.
