Just figured I would defend us "non-rocket scientists" out here with some historical facts.
As I read back through this chain, to see where the tone turned sour. . . . . . I realized that my comment to
@HidnNOS about not being mistaken for a rocket scientist, while meant as a joke, was in poor taste. So for that I apologize.
The whole point of this post was to guage whether or not people thought this new warranty was a gimmick.
While it adds SOME more value than was there before. . . . to me, and several others it seems to be more like slick marketing, than substanitive value.
When we branched out to whether or not this makes financial sense (based on the offers mandatory 180 month term). . . . .
Each and everyone's financial circumstances are different. What is good for 1 is not good for all. With different income levels and expenses you have to choose wisely what is right for you and yours.
For those with cash in hand ready to buy. . . while I will concede the point that you MIGHT be able to make more than 3.99% over the 5 year period leading up to the trade. You are NOT guranteed as much, whereas the interest rate you are paying to borrow that money is fixed at 3.99%.
I do find it interesting that there are some that would demonize saving for something and paying for it once you have the money. Doing this instead of paying to borrow should, in my mind be encouraged. While I did not do it to join a forum and beat my chest about it, I will admit there is a certain level of pride in free and clear ownership. As
@jetboater4life suggested - I guess it's all about the level of risk you are willing to take, and how much faith you have in the market. I for one do not have much faith that this "recovery" will last without a MAJOR correction if not an outright reversal.
But I really don't want to get into the Obama Economy right now, since there are no politics allowed.