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A Happy Car Loan

C
Cline · · 2 replies

Check this out! In October, I bought a brand new $40,000 car with $0 down @ 0% interest for the 60 month loan term.

Within a matter of 3 months, my NW dropped $40K and is now a little bit higher than it was when I bought the car.

I had driven my previous car since I was 18. It was a gift from my parents when I graduated high school. And a gift it was!! It lasted me for 12 years though my 20s. I resisted the urge to upgrade while my friends always had nicer, newer cars.

Looking forward to driving this one for the next 12+ years into early retirement!

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Replies (2)

newfi25

newfi25

5 months ago

You could include the car on your net worth if you want to. Just look up its current value on kelly blue book or equivalent. Update once a year to account for depreciation.

Coach Holdren

Coach Holdren

5 months ago

Cline..

Great Job. Excellent case study. I hope you enjoy the next 12 years!

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Choose FI has partnered with CardRatings for our coverage of credit card products. Choose FI and CardRatings may earn compensation from card issuers when a customer clicks on a link, when an application is approved, or when an account is opened. Opinions, reviews, analyses & recommendations are the author's alone, and have not been reviewed, endorsed or approved by any of these entities. American Express is a ChooseFI advertiser.

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