Funny post. I think most people who have $15 or $20 grand to plunk down on a car will know about keeping a cash reserve. At least I hope so. On the other hand, are you aware that you're almost guaranteed to be upside down on your loan? Do you have gap insurance? If not, then God forbid you get in an accident anytime in the next three or four years, because you'll be in a rough situation.Originally posted by PSU F4i
I'm surprised so many people put alot of cash down....especially with interest rates being so low. I just hope you guys had a separate "car fund" and didn't take that from your primary savings. If so, congrats on good money management. But if not, God Forbid something major happens and you need some extra money. A good rule of thumb is to have 3-6 months worth of expenses in cash or other liquid form for emergencies.
Bah...I'm just pissed because I'm trying to save for a down payment on a house and any money I'd put down on the car would take away from the house. Powerball....here I come, baby![/b]