Once you get used to having a new car, you just treat payments like a normal expense like the heating bill in Minnesota. I will also say too that when you go for years without a payment, it’s a shock to get back into the swing again. However, I have no intention of going back to the days of 8% interest. I’m into 1-3%, or it’s pay it off. Like we talked about before, if you are making 10-20% on your money, it doesn’t make much sense to pay cash unless it makes you feel good.
Nothing wrong with feeling good, though.
Again, people talk of engine and transmission longevity as the end all. My Buick got 530,000 on it with no real engine problems. I overhauled the trans at 350,000 and the guy said it didn’t look all that bad. The problems though were with electrical and electronics. Those can eat you alive and cause reliability issues.