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I'd rather take a loan out on the car, put the rest into a home using FHA and rent it out... the profit right there is the car payment... and income after it's paid off in 72 months.
Not to mention the house would appreciate in value in this market.
If you come out on top over the interest rates offered to you by banks, then it's kind of a no brainer?
Either it makes sense, or it doesn't.
Banks make money on lending money away. In order for them to have money in the first place, they need to offer interest rates to people who deposit money into their banks.
If you don't want to worry about having to make payment (becoming a slave to the financial system), by all means, pay it off outright. You won't have to babysit your funds then.
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