| PM | Quote | Reply | Full Topic |
Joined: Sat Oct 21st, 2017
Posts: 469
Status:
Offline
Reputation: 
Reputation Points: $user_rep
The smarter thing to do would be to put the cash + extra padding in a Specialty Whole Life Insurance Policy, take a loan from that account, and pay yourself back rather than paying cash for the car to a bank or financing it. Be your OWN bank. Treat your money just like you would the banks money and pay yourself back. Your money is coming back to you with interest, Its uninterrupted compounding interest, and the growth is 100% TAX FREE.
NO jokes. If you're gonna be a baller and pay cash, be a wealthy baller.
Follow us EVERY WHERE for more great tips on car buying and up-fitter parts !
Whole life is inherently not the best move, you will always loose. If you need life insurance, always buy term, and then invest the difference in cost yourself.
I just read a story on the total cost of charging your EV, from the difference in commercial charging costs, to at home up to including the cost of installing a charger. They still cost more per mile to drive. Unless you buy into the 'green' part of it, then you have to convince yourself that all YOUR electricity was made 'green'. Not to mention the 'range' mentioned is never truly accurate for specific battery reasons. Unfortunately I can't find that article anymore...
Still don't see me buying one, just yet.