Quote:
Originally Posted by Cloud
that's the best way--in theory. Has anyone here actually done that?
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I have very few (if any) friends who have car loans. What Pete has posted is what most everyone I know did.
Saving 50% for the next car is a good start. Then the car after that is paid for without any car loans. The car after that is easily bought AND your have another $25K of spare cash. Maybe it takes longer. But the ultimate goal is to always buy a card without any loans. Some can do it on the next car. For others, it may take two cars. But to have money means owning cars without car loans.