Smokey_Joe
Head Chef
I'm lucky enough to have gotten myself in the position back in 1990 to pay for my new truck CASH....( had a vehicle with a paid off loan and hit $10,000 on a scratch ticket).....took those 2 and stepped right into a brand new paid off truck .
Since then each month I make a truck payment to MYSELF in MY savings account.
Granted I miss a payment every now and again.... but when I do there is no pressure or impending doom.It will just delay the time of my next new truck.
Then in 4 years or so I take my CASH with MY INTEREST (not losing it to a loan company) and go to the dealer with GREAT bargaining power. CASH IN HAND
So far I have been able to keep this method (knock on wood) and hope to never revert back to giving a bank the interest from MY money.
Since then each month I make a truck payment to MYSELF in MY savings account.
Granted I miss a payment every now and again.... but when I do there is no pressure or impending doom.It will just delay the time of my next new truck.
Then in 4 years or so I take my CASH with MY INTEREST (not losing it to a loan company) and go to the dealer with GREAT bargaining power. CASH IN HAND
So far I have been able to keep this method (knock on wood) and hope to never revert back to giving a bank the interest from MY money.