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Non-Cattle Specific Topics
Coffee Shop
Borrowing money to build credit.
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<blockquote data-quote="John SD" data-source="post: 1332485" data-attributes="member: 14713"><p>I bought both my Hyundai and my Kubota tractor on 0% company financing. 3yrs on the car, and 5 yrs on the tractor. Paid the car off in 2 years, dropped full coverage insurance down to liabilty only which saves $200/yr.</p><p></p><p>While I am a Dave Ramsey fan and went through his FPU class this past spring. I will admit I don't bite on every single idea Dave sells. But ignore his advice at your peril. Keep in mind Dave's financial advice is pretty much geared toward the 9-5 wage earner crowd, not independent farmers/ranchers and main street small town business owners. </p><p></p><p>Not many farmers and ranchers and other small business owners could have gotten where they are today without using borrowed money as a tool. But debt is like a sharp knife. Used correctly it can be immensely helpful. Used incorrectly it can be dangerous or possibly fatal.</p><p></p><p>It's none of my business, but to buy or make excuses to buy a new car mostly just to enjoy the new car smell probably isn't the best way for a person to spend money. While I did purchase my Hyundai new, I don't anticipate every buying another new vehicle. Let the other guy take the hit on depreciation.</p><p></p><p>I also purchased the Kubota new. Spent most of a year looking for a good used tractor. Most any tractor I was interested in that seemed decent also had a premium price tag on it. So I have a new tractor with warranty, and a nice climate controlled cab which I could not be out in the field without at this point in my life with my health problems.</p></blockquote><p></p>
[QUOTE="John SD, post: 1332485, member: 14713"] I bought both my Hyundai and my Kubota tractor on 0% company financing. 3yrs on the car, and 5 yrs on the tractor. Paid the car off in 2 years, dropped full coverage insurance down to liabilty only which saves $200/yr. While I am a Dave Ramsey fan and went through his FPU class this past spring. I will admit I don't bite on every single idea Dave sells. But ignore his advice at your peril. Keep in mind Dave's financial advice is pretty much geared toward the 9-5 wage earner crowd, not independent farmers/ranchers and main street small town business owners. Not many farmers and ranchers and other small business owners could have gotten where they are today without using borrowed money as a tool. But debt is like a sharp knife. Used correctly it can be immensely helpful. Used incorrectly it can be dangerous or possibly fatal. It's none of my business, but to buy or make excuses to buy a new car mostly just to enjoy the new car smell probably isn't the best way for a person to spend money. While I did purchase my Hyundai new, I don't anticipate every buying another new vehicle. Let the other guy take the hit on depreciation. I also purchased the Kubota new. Spent most of a year looking for a good used tractor. Most any tractor I was interested in that seemed decent also had a premium price tag on it. So I have a new tractor with warranty, and a nice climate controlled cab which I could not be out in the field without at this point in my life with my health problems. [/QUOTE]
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Borrowing money to build credit.
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