Quote:
Originally Posted by Hawkeye
You do realize that owning is cheaper than renting right? Nobody is going to charge you less in rent than they pay to own it. If you think you can rent an equal living space for cheaper than you can buy, you found a fool or you are missing costs.
Also, when you buy you get infinitely more equity than if you rent.
For the OP - When I was younger I would have said go for it (I did) but now that I have gotten wiser I say use the $$ for something else until you can buy the car without having to ask if you can afford it. Mine worked out well, I was car poor for a few years, but I still own the Z 12 years later and love every minute of it. I got lucky with no major maintenance, but I also bought new so I had less risk as well (free maintenance for a majority of the loan period)
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I won’t derail the thread further. I will just say if you are paying the full mortgage it’s due to market conditions, not because that’s what the owner pays.