Quote:
Originally Posted by NOHOME
Learn the difference between "Wants" and "Needs"
Get your priorities in order and pay off the house as much and as fast as possible. The FRS is a TOY that you want. Toys are bought with surplus cash that is just sitting around doing nothing.
While I am of the opinion that "houses are an investment" is the biggest scam ever pulled on a group of people, you do NEED to live somewhere. Mortgages are also made to screw you out of as much money as possible over a long time. Anything you do to shorten the time means you get less screwed by the bank.
Having said all that, if you NEED to buy a new car, then the FRS is not a bad financial choice in that it is cheap and so far, not too expensive to own.
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Is it possible to save more on interest like when purchasing a home to pay bi-weekly or weekly through car financing??? (I see on Scion.ca there is a bi-weekly option)
Also, can you not have autowithdrawl on your VISA card? The dealer said in Canada, void cheque withdrawal only.
