I learned the disclipine and money habits from my grandfather a cheap Scot and also my dad an immigrant who showed up in US with $200 in 1968 from Syria and attend college and became citizen. I want things but back of mind think of them both when spending.
Both interestingly drove base model Subaru wagons even though they could afford far more. My dad is elated his 2015 Outback has a remote key fob (first vehicle!)
Good on you for your fiscal discipline.
Here is how I look at a purchase, especially one as large as a car purchase.
There are at least 3 separate parts to the purchase: the car price, the method of payment and the trade in (if you have a trade).
Of course, one should also take into consideration resale, reliability, registration, insurance, etc.
If you take each of the 3 into account and treat them separately, you should be able to make the best decision for you.
I don't like loans because of the interest expense. But if the interest is very low, it may make sense to take a loan.
It is good to have adequate cash reserves and you may be able to invest more of your money for the future.
All your eggs into 1 basket may not work for every budget.
One scenario: I paid 60 large for our Tesla Model 3 in late Dec 2018. What if I had taken out a loan and invested the rest into TSLA stock?
I would have a $500K paper gain right now.
This is an extreme example, but it illustrates a different strategy. I still hate loans, though.
And I still admire your discipline.
but imagine putting the 22" truck rims, lift kit, and low profile tires into that investment people are talking about earning 12% per year...
