Quote:
Originally Posted by Bobby_Light
Your friend has too many cars if he is not paying cash for them. I am talking WEALTHY people. They don't borrow money. They don't pay interest. They don't have to. They pay with cash. Done deal.
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You are categorically wrong. Wealty people have no problem acquiring debt if the rate of return they can hit is higher than the interest they will pay.
That said, unless you are buying super exotic cars that you will keep for 25+ years the ROI on cars is most likely negative and they are a wealth destroyer.