Yup, and at 0% it’s a no brainer to finance it and keep your money in the bank. If you can get a return greater than 0% or 0.1% investing the money yourself (instead of having it depreciate in a car) you’re going to be making money.
Or buy a 4-5 year old car (that’s already taken it’s 70% depreciation hit) outright, and invest that full car payment amount every month and really set yourself up for the future.
Now, I’ll admit, I was young and stupid and didn’t do that. Instead, we got suckered into the sales pitch and bought a brand new Chrysler 200 in 2016. It now has 102,*** miles on it, is worth a third of what we paid for it, and I kick myself for it all the time. We did pay it off last December (2 years early) though, and I’ll never again buy another vehicle that I can’t pay cash for outright. In fact, I just bought a 2007 Ram 1500 with 107k miles for $8,500 cash. Best feeling ever. Never going back.
