Quote:
Originally Posted by Psilox
A couple of quick things for OP: - First, what are your student loan interest rates? If they're low (~5%), you'll probably just want to pay your set payment plans rather than paying them off early because...
- ...of my second point. Take the money sitting in your bank, minus a nice cushion that can handle unexpected expenses, and invest it. You could be making anywhere from 5-10% returns on that money annually. As long as your rate of return beats your student loan interest rate, you're better off investing any money instead of putting a lump sum toward your loans (since you're making more money than you're paying in interest). This brings me to my last point...
- ...If you do decide to get the BRZ, make sure you pay whatever down payment which brings your payments to a doable level, then finance the rest. Again, if you're financing at 1.9% (like me, who is younger than yourself), you're better off investing the money you'd spend paying entirely in cash, and pocketing the difference between your interest rate and your investment rate of return.
Can't really tell you whether to get the car, but I can say my 2017 with PP is amazing fun to drive. Very happy with it. Hope this helps! |
For those wondering what my loan rate is, I attached it. I plan to use my bonus and tax return to pay off one of the $5000 by the beginning of next year, leaving me with 3 loans to pay and on.
I am thinking of a plan to pay 3k to 4k cash not including monthly payment every year.