Quote:
Originally Posted by Dadhawk
Well, I have personally done this multiple times, going back well before most folks had heard of Dave Ramsey, but yes it is the method he often tells listeners about.
First time I did it was when I was 16, and did multiple rollovers in 3 years. I went from driving a $300 Dodge to a $5,000 nearly new Honda Civic Wagon (this was mid 70s) flipping 5 cars during that time and never had a car payment. |
As much as I like Dave Ramsey, I do disagree with many of his assumptions. I disagree with his 12% return every year, I disagree about being able to sell car a year later for same amount after driving for year, nonsense. I’d rather put about half down, pay off super early like I generally always do. Never had a 475 month car payment because we always throw good chunk down and pay essentially no interest because how quick we pay off loan. I paid less than $100 interest on my ‘17 Jeep we paid off in December.