Quote:
Originally Posted by Major Tom
Let's say you are looking at a pristine highly collectable rare luger with a healthy price tag. You don't have the funds to buy it out right. But you think it may increase in value in coming years. Would you get a loan to buy it?
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I would never buy anything in the belief that it would increase in value. I would only buy it if I liked and wanted it. I would not take out a loan if I had other loans, like a car loan or a mortgage.
Right now, I have only a car loan. I have enough savings to pay it off right now, but choose not to. I also have enough savings to buy anything I like outright, so a loan is not required.
Finding something I like is getting harder, not because of a shortage of cash, but because I have had everything I ever wanted. Sometimes more than one.
