Comments on: Question – Would You Take $25,000 Or A New Car?

By: Bridgette

Bridgette — Thu, 04 Oct 2007 21:15:41 +0000

Take the money and run!

By: Golfing Girl

Golfing Girl — Tue, 02 Oct 2007 13:41:11 +0000

I’d take the cash. I’d use 3K to pay off our 2nd mortgage. I’d then put 10K in our emergency fund to get us to our 6 month mark. With the remaining 12K, I’d put 5K in my daughter’s 529 plan, 3K for a nice vacation, and the remaining 4K to pay my entry fees on a mini tour.

By: Ryan

Ryan — Wed, 26 Sep 2007 13:06:23 +0000

I’d take the cash and put it in investments. I’d cash out the money I currently have in investments to buy the car. Pretty much the same thing as using the $25K for a used car and keeping the change.

By: ryan

ryan — Sun, 23 Sep 2007 16:39:52 +0000

i would take the 25K. i would use it as a down payment on a 4 unit apartment building, and then write off a car to go check on it.

By: John Bennett

John Bennett — Tue, 07 Aug 2007 17:08:26 +0000

Definitely the cash. A new car would be nice, but the one I have is fine. I could make good use of that much cash.

By: Bryan Villarin

Bryan Villarin — Wed, 01 Aug 2007 21:05:22 +0000

I’d take the cash and pay off my debts (which it’s fortunately more than enough). Then, I’d save the rest for an emergency fund and some investments.

By: CiCi

CiCi — Wed, 01 Aug 2007 14:40:09 +0000

Without a doubt! The Cash! I never have spent more than $11,000 on a car!

By: paidtwice

paidtwice — Wed, 01 Aug 2007 04:07:46 +0000

do I get to keep my current car?

this isn’t a “you have no car” question right? lol

I’d take the cash. Sadly, it is not enough to pay off all my (our) debts in one fell swoop.

But it is enough to get rid of the credit card and either my or my spouse’s student loan and have some left over even lol

By: Chief Family Officer

Chief Family Officer — Wed, 01 Aug 2007 02:47:43 +0000

I would take the cash, unless it happened that I was about to buy a new car that cost more than $25K (never done that yet, but I think our next car will be a minivan that’s a little bit over $25K). I would use the money to either pay off debt or put it in my kids’ education fund, maybe both.

By: Ellen

Ellen — Tue, 31 Jul 2007 23:22:54 +0000

…What kind of car?

Nah, I’ll take the cash. Becky, my Corolla, is only about 5 years old–a baby in Toyota terms.

Besides, the only cars I would consider worthwhile taking cost a LOT more than 25K, anyway.