Originally Posted by
LABARINTH
Would you consider it debt if you financed a car but you could have paid for it outright? You chose to finance it because you make far more buy leaving it in the bank than the amount you pay financing.
Well technically yes, it is still debt because it is money that you owe to someone else. But he never mentioned anything like that situation in the original post.
My dad got a deal like that. He bought a brand new Toyota Avalon for like $30,000 or something like that and he is financing it for 0% interest so he has that money in the bank and they just auto-deduct the payment per month. But once it is all paid off he will still have a few grand left over.
Still, a car is a depreciating possession so no matter how you look at it, you are losing money and it is a debt.