No 12 month interest free on Snowcheck!!
- Thread starter Big D rmk700
- Start date
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poman
Active member
I used my star card that is through capital one.
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mynewuseddoo
Well-known member
I just pay for my machines outright. Simple, effective and it's mine. I've never understood how people can justify financing sleds, quads, bikes etc.
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poman
Active member
An interest free loan isn't truly financing , just taking advantage of market conditions.
I've never understood why folks want to give their money away for a yr. if they don't need to.
The interest earned on the 11-12 K over the course of the yr. is mine.
Simple and effective.
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Super Sled
Well-known member
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Slick
Well-known member
You're just awesome !!! I've never understood how people can get to be adults (maybe) and still think the world gives a $hit about their opinion as to someone elses decisions. They chose to finance and are discussing it ....... so what, whats it to you ?
I have a starcard already so I should beable to get this done on Monday hopefully. I and I do have the cash to pay for it right now but would rather leave it in the bank for a year!!!
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mynewuseddoo
Well-known member
A little touch of jealousy I see. Like I said before, not sure how people justify financing toys. Any financially responsible person I know has the same view.
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Slick
Well-known member
Nah, no jealousy whatsoever, just making a point that your stance regarding credit is quite an immature position and that type of tunnel vision will pretty much severely limit your financial position in the long term.
But your sleds paid for. So you are financially responsible. LOL.
By the numbers... Assuming a 12000 purchase price.
Paying Cash:
Finacing 0%
FINANCING AT 0% AND INVESTING COULD SAVE YOU $1000 PER YEAR
So keep telling yourself that paying cash is better than financing... Fiscally smart people will take the 0% EVERYTIME over paying cash. You can invest the cash elsewhere at a standard market return rate and actually make money instead of just loosing it.
*disclaimer: not all peoples sleds will be worth $9600 at end of year, some worth more some worth less. not all people will qualify. missing a payment incures all interest at market rate to be applied to loan. Must payoff loan balance before year of 0% interest is up.
Paying Cash:
Cost of sled $12000
Market Deprecation value %20: $2400.
Money owed: $0.
Money invested elsewhere: $0
Dollars regained when sled is sold: $9600.
Total loss over 1 year period: $2400
Market Deprecation value %20: $2400.
Money owed: $0.
Money invested elsewhere: $0
Dollars regained when sled is sold: $9600.
Total loss over 1 year period: $2400
Finacing 0%
Cost of sled $12000
Market Depreciation value %20: $2400
Money owed: $200 a month x 12 months = $2400
Money invested elsewhere: $10,000 @ 9% yearly return
Money MADE on investment: $938
Total payments on sled: $2400
Total amount paid to bank after sled is sold: $9600
Total recouped using money invested: $938
Total lost over 1 year period: (12000-9600) - 938 = $1462
Market Depreciation value %20: $2400
Money owed: $200 a month x 12 months = $2400
Money invested elsewhere: $10,000 @ 9% yearly return
Money MADE on investment: $938
Total payments on sled: $2400
Total amount paid to bank after sled is sold: $9600
Total recouped using money invested: $938
Total lost over 1 year period: (12000-9600) - 938 = $1462
FINANCING AT 0% AND INVESTING COULD SAVE YOU $1000 PER YEAR
So keep telling yourself that paying cash is better than financing... Fiscally smart people will take the 0% EVERYTIME over paying cash. You can invest the cash elsewhere at a standard market return rate and actually make money instead of just loosing it.
*disclaimer: not all peoples sleds will be worth $9600 at end of year, some worth more some worth less. not all people will qualify. missing a payment incures all interest at market rate to be applied to loan. Must payoff loan balance before year of 0% interest is up.
Great break down!!! Just talked to my dealer he is once agian looking into it. Let him know that lots of other dealers are still doing the 0%. We shall see what he comes up with. Anyone that is a dealer on here if you send me a pm on your policy that might help if he comes back and say's no go!!!
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benny7cfan
Member
X2!
I cannot manage your portfolio for you, nor can I recommend how or what you should invest in. Each person should invest their money according to their needs as aggressively or conservatively as they desire. There are many great tutorials and reading materials out there to help guide you in your investments. 
Good place to start my friends:
http://www.daveramsey.com/article/the-12-reality/lifeandmoney_investing/
That said, you guys seem to have missed the bottom line point. Even at measly 1% return rate you are still saving money by financing at 0% (and only at 0%).
Good place to start my friends:
http://www.daveramsey.com/article/the-12-reality/lifeandmoney_investing/
That said, you guys seem to have missed the bottom line point. Even at measly 1% return rate you are still saving money by financing at 0% (and only at 0%).
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SSWIM
Well-known member
I cannot manage your portfolio for you, nor can I recommend how or what you should invest in. Each person should invest their money according to their needs as aggressively or conservatively as they desire. There are many great tutorials and reading materials out there to help guide you in your investments.
Good place to start my friends:
http://www.daveramsey.com/article/the-12-reality/lifeandmoney_investing/
That said, you guys seem to have missed the bottom line point. Even at measly 1% return rate you are still saving money by financing at 0% (and only at 0%).
Not to squabble, but Dave will tell you not to finance a toy. And you are correct regarding 0% financing, as long as it keeps all other incentives such as price discounts in place. Vehicle purchases will 99.9% of the time give one or the other. 0% financing or deep discounts. I'll take a deep discount all day long. No bash. Just my thoughts.
Sam
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snowmobiler
Well-known member
when i want a new sled i ask my gramma and she buys it for me.bam,i win.
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mynewuseddoo
Well-known member
Them's sure is some fancy numbers yer typin.
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