Avatar
Lighthouse 1y ago

Hey nostr, I'm looking to buy a USED SUV. I'm looking at a Toyota 4Runner ($$$) or a Ford Expedition ($$)

The thing is, I'm not sure if I should buy it outright with USD, or put a small down payment and get a loan (~$200 per month?)

As a bitcoiner, I'm not sure which is a better use of my money. I like to be debt free, but I know inflation will make a car loan get easier over time. If I buy with cash, I'll have to sell some BTC. Ideas and suggestions welcome!!! Thanks!!

#asknostr #grownostr #cars #auto #suv #debt #finance #bitcoin

Reply to this note

Please Login to reply.

Discussion

Avatar
Lighthouse 1y ago

I won't be driving it everyday. Itll be garage kept and used sparingly. But I need something super reliable in case I gotta drive somewhere far

Avatar
Slimey Limey 1y ago

I would stack sats, and wait at least 6 months.

If you really need a SUV, I would leverage fiat, and stack sats.

Avatar
Lighthouse 1y ago

Wait 6 months for what? To make a decision? I'm about 3 months into looking šŸ˜…

Avatar
Slimey Limey 1y ago

For the peak of the bitcoin cycle.

Avatar
Lighthouse 1y ago

Ah of course

Avatar
OceanSlim 1y ago

Weight the interest rate against what you expect BTC to do over the course of a loan. Then calculate your opportunity loss by not being able to buy BTC instead during that time. See how much you're really losing. I hate buying expensive things but if it's for a bigger payoff, it can be worth it. Get the one that will last the longest vs. the opportunity cost of the car. Maintanance and parts availability are also factors. Should be pretty good for both I'd imagine. Ford is probably a little cheaper, but not by much.

Anyways, gm. ā˜€ļø

Avatar
Lighthouse 1y ago

Great analysis. Thank you and GM šŸŒž

Avatar
Dmt Elf āˆž/21M 1y ago

What about the Mach E? Less mantainance costs. Is the car any good regardless of the debate of whether or not it is a mustang or not?

Avatar
Lighthouse 1y ago

Need gas for long road trips in middle of nowhere

Avatar
AU9913 1y ago

Weigh your desire to be debt free VS have more money in the future. I bought my truck with my bitcoin stack because I needed it for the farm. Likely, you'll have more money if you don't buy it outright, but if you prefer being debt free, do that.

Avatar
āš” Dee Kay āš”šŸ‡øšŸ‡ŖšŸ‡¬šŸ‡§šŸ‡ØšŸ‡æšŸ‡§šŸ‡·šŸ‡¦šŸ‡¹ 1y ago

If you are certain you will be able to service the loan for the whole duration of the loan I would always go short on fiat by using a loan.

Avatar
The Beave 1y ago

The Toyota is probably an order of magnitude more reliable than an expedition.

Playing the debt game and stacking sats is a good bet if you believe the dollar is going to collapse in the near future. I'm not a fan of the technique of buying BTC with debt and waiting. I don't really like debt much at all.

Avatar
zhenya 1y ago

imo dont buy depreciating assets with expensive debt if possible. why pay 25k, for a 20k vehicle? many are doing just that with 4 year car loan at 9%.

Avatar
Lighthouse 1y ago

I could really use a SUV though šŸ˜®ā€šŸ’Ø

Avatar
zhenya 1y ago

damn friend. lots of folks in a similar spot. rates may come down in sept. if you do finance make.sure theres no penalty to refinance

Avatar
NaturalNerd 1y ago

I would likely take a loan instead of selling my bitcoin, but if you do you could make 'car payments' to yourself and buy more bitcoin each month.

Avatar
BitcoinBird 1y ago

Personally Iā€™d take the loan unless it stops me from getting a bigger loan. Inflation works for you and the btc increase as well. No question