84-month car loans: Smart move or financial trap? Spoiler it's a financial trap.

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84-month car loans: Smart move or financial trap? Spoiler it's a financial trap. (archive.ph)

Either cash it out or put down as much as possible and have good credit.

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Financing is dumber than renting. You only do it out of absolute necessity and for as short of duration as practical. Its easy enough to open a brokerage account and put $250/month in stable dividend stocks or a 401k (which contribution should be maxed out). You can take a loan out of the 401k and the interest is returned to your account rather than going to a bank.

I don't plan to buy a new vehicle due to the excessive tech incorporated in them, but if I do, I'll very likely pay cash.

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