I am a year away from paying off my loan and I have the cash to do so. I have actually contemplated doing it but it makes no sense for me financially because I can make the payments and invest the rest if that makes sense.

Let me see... you are a broke college student with a perfectly working car that’s less than 10 years old? I would keep it until the wheels fall off, which for a Honda is around 300K miles, possibly even more. And you would still be able to sell for $1K-$2k

The crazy part is most people don’t realize that investing $500 per month in your 20s instead of having a car payment will make you really rich by the time you retire

Sometimes having a low interest loan is not a bad financial move considering the opportunity costs to invest the rest. For example my current used Audi cost me $8K on a 1.5% loan. Imagine I had $8K in cash, if I bought the car outright I would have saved the 1.5% APR but would have lost the opportunity cost of…

This +1

Uh? Didn’t you fight this? Unless your quote was below your state minimum requirements

This paragraph is key! I love how people clip coupons to save 50 cents on a can of tuna at the grocery store but don’t understand this basic principle of how loans work.

Thanks nice find. Which car was this a Mustang?

My grocery store has EVERY item on “sale”. It’s annoying

Nice success story

Do you realize that most dealerships make money off financing, not just the sale of the vehicles? Also, dropping $50K in cash for a truck is not a wise financial decision if you can get a low interest car loan (see opportunity cost). You can make the monthly payments and invest the rest of the cash, etc.

This +1

I would like to see some research on this. However you are validating my point, a car with a 6000 rpm redline won’t see an increase because it’s probably not a high compression engine. On a similar note putting 97 octane fuel on a 93 recommended vehicle does not net you extra horsepower. However, putting 87 octane…

Interesting, did you tell her you used regular gas? Or did she ask because she felt her car sluggish?

You are giving examples on specific cars that are meant to be run on premium fuel (usually high compression turbocharged engines). When you put regular fuel on those cars, although they won’t knock because of smart ECUs, it will give you LESS power. Again, putting 93 octane on a 2000 toyota corolla will not give you…

Could you elaborate. What does “running like garbage” means?? did you try the vehicle? This sounds like anecdotal evidence

The thing is... I think some people might buy because they think it might make their can run better

Yes, but why? who buys it? is it recommended? so many questions

Is it a turbocharged engine?

Never had an engine knock on me