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re: Who is the national market for $80k suv's?
Posted on 10/24/21 at 7:45 pm to Wasting Time
Posted on 10/24/21 at 7:45 pm to Wasting Time
quote:
This part is amusing also.
Because currently, apparently GM is offering 0% financing to qualified buyers up to 72 months. If you can afford an 80K suburban, financing it for 72 months at 0% for a payment of $1100 is literally the smartest financial decision. Paying anything up front would be retarded. Especially in an environment where inflation is happening and future dollars are becoming less valuable.
Do I have to explain the reasons for that to you?
You talk exactly like someone I would picture buying an 80k SUV.
2
Posted on 10/24/21 at 7:47 pm to Dominus5150
quote:
Let me translate slowly. If you pay for the car in one transaction up front then you can afford it. If you think you can swing a monthly note, but you can't pay for it outright, then you can't afford it.
Do you apply the same philosophy to your home?
Posted on 10/24/21 at 7:50 pm to Grievous Angel
quote:So. For clarity. You think that if you actually could afford one of these things and qualified for 0% financing, that some other option is superior?
You talk exactly like someone I would picture buying an 80k SUV.
As for me. LOL. I have expensive kids. I suppose I could stretch my arse off for one of those things but I don't even like them. Most people who drive them seem to have no idea where the corners are and take 9 months to park or get out of a parking place.
I'm paying for a horse and horse jumping training for one kid which by itself is like having another car note. So yeah. No thanks on the 80K suburban
But you people are financial idiots.
Posted on 10/24/21 at 7:50 pm to Dominus5150
quote:If you pay cash up front when you have 0% financing available, you're mentally retarded.
Let me translate slowly. If you pay for the car in one transaction up front then you can afford it. If you think you can swing a monthly note, but you can't pay for it outright, then you can't afford it.
Posted on 10/24/21 at 7:53 pm to Grievous Angel
quote:
You talk exactly like someone I would picture buying an 80k SUV.
Besides, one telling element of this thread is the target.
I'm far more baffled by people who aren't rich that own 80-100K 2 seat sports cars than by people with 3 kids who own a Suburban.
I mean, if we're talking about frivolous financial decisions here.
Posted on 10/24/21 at 7:54 pm to Wasting Time
quote:
Because currently, apparently GM is offering 0% financing to qualified buyers up to 72 months. If you can afford an 80K suburban, financing it for 72 months at 0% for a payment of $1100 is literally the smartest financial decision
It's the American way of life. If you can afford the payment than you can "afford" it.
Now do the opportunity cost of investing the $1100 a month for 6-7 years that you are paying for a vehicle you probably shouldn't have purchased.
Posted on 10/24/21 at 7:55 pm to fallguy_1978
quote:If you had 80 IN THE BANK right now that you had nothing planned for..........and you spent it up front on a vehicle you could finance for 0%, you're one stupid mother fricker.
It's the American way of life. If you can afford the payment than you can "afford" it.
quote:Now you do the opportunity cost of blowing the 80K up front.
Now do the opportunity cost of investing the $1100 a month for 6-7 years that you are paying for a vehicle you probably shouldn't have purchased.
Get back to me.
Posted on 10/24/21 at 7:58 pm to Wasting Time
quote:
If you had 80 IN THE BANK right now that you had nothing planned for..........and you spent it up front on a vehicle you could finance for 0%, you're one stupid mother fricker
I'd bet less than 1% of people buying these have 80k in the bank
If you'd like me to tell you why keeping 80k in the bank is a bad idea as well I will explain
Posted on 10/24/21 at 8:01 pm to fallguy_1978
quote:Cool
I'd bet less than 1% of people buying these have 80k in the bank
Same applies for basically every segment of car purchases.
There's no difference between someone who is able "stretching" to pay for the 80K vehicle and someone else who is able stretching to pay for the 30K vehicle. Which describes easily 90% of the people bitching about the people stretching to pay for the 80K vehicle.
THAT is my point.
quote:You'll fail.
If you'd like me to tell you why keeping 80k in the bank is a bad idea as well I will explain
There is no rational reason whatsoever to blow 80K up front when you have 0% financing available and dollars are losing value. If you attempt to "explain" this, you'll just make me laugh and embarrass yourself.
This post was edited on 10/24/21 at 8:03 pm
Posted on 10/24/21 at 8:06 pm to fallguy_1978
quote:
If you'd like me to tell you why keeping 80k in the bank is a bad idea as well I will explain
By the way. You take 0% financing 100% of the time(assuming equal pricing) for the same reason you don't want a big tax refund.
NEVER EVER EVER refuse interest free loans! EVER!!!!(again, assuming no impact on pricing).
Of course, hilariously, most Americans are thrilled every April when they get a big check from the IRS. Apparently, Americans like GIVING interest free loans.
Posted on 10/24/21 at 8:24 pm to Wasting Time
quote:
There is no rational reason whatsoever to blow 80K up front when you have 0% financing available and dollars are losing value.
Unless you are in the top 5-6% of US household income an 80k vehicle should be well outside of your price range. But hey, it's a 0% rate so buy it.
Posted on 10/24/21 at 8:29 pm to tigerinthebueche
quote:
Do you apply the same philosophy to your home?
I think the big take away from all of this is just because you can finance something does not mean you can afford it.
Raise your hand it you remember 2008.
Posted on 10/24/21 at 8:30 pm to fallguy_1978
quote:I'm sure some people who buy it shouldn't.
Unless you are in the top 5-6% of US household income an 80k vehicle should be well outside of your price range. But hey, it's a 0% rate so buy it.
Just like 90% of the people bitching about them who are in the same boat.
As I said. The reality is, there are a shite ton more people driving 30K vehicles they shouldn't have bought than 80K. It's just easier to hate the latter.
And again, what percentage of people do you think are buying 80K vehicles? LOL It's not like these things are flying off the shelves.
Posted on 10/24/21 at 8:30 pm to Zachary
Poor people.
Posted on 10/24/21 at 8:35 pm to NYNolaguy1
quote:Well absolutely.
I think the big take away from all of this is just because you can finance something does not mean you can afford it.
quote:Funny you should mention 2008.
Raise your hand it you remember 2008.
My step mother was absolutely allergic to debt of any kind. Which, frankly, served her and my father very well for most of their lives.
Then, in 2007, they moved to a community that was beautiful in Florida and paid a shade over 500K cash for a home. By the end of 2008, that exact model was selling on their street for $250K. The developer went bankrupt and the golf course fell into disrepair. The upgraded club house never materialized and in the end, they sold that home for just under $240K
A greater than 260K bath in their mid-60s.
I wanted to be mad at her but at the same time, I knew my dad was shite with money and the only reason they even had the 500K ish cash in the 1st place was her.
But still. It was stupid as frick
This post was edited on 10/24/21 at 8:37 pm
Posted on 10/24/21 at 8:37 pm to Koach K
Picked up a 2019 Pilot with 28,000 miles earlier this year with everything we wanted in immaculate condition for $30k.
frick a $80k SUV.
frick a $80k SUV.
Posted on 10/24/21 at 8:39 pm to SquatchDawg
quote:How do we know you didn't stretch as much for that $30K as the person driving the $80K SUV?
Picked up a 2019 Pilot with 28,000 miles earlier this year with everything we wanted in immaculate condition for $30k.
frick a $80k SUV.
Posted on 10/24/21 at 8:39 pm to Wasting Time
You don’t….but I didn’t.
Posted on 10/24/21 at 8:42 pm to SquatchDawg
quote:Cool
You don’t….but I didn’t.
My point though is that the reality is, there's nothing unique about $80K SUV drivers and that the reality is, contrary to what this thread thinks, those who drive them are almost certainly better able to do so than 90% of the people bitching about it are able to do whatever it is they are doing at whatever price mark.
That may not apply to you, but, it's still true.
Hell, as an Army vet, it's practically a meme at this point what new troops do the moment they start getting a check. Damned parking lot full of $35K cars driving by Privates!
Posted on 10/24/21 at 8:44 pm to SquatchDawg
Speaking for myself, my most expensive car requires metal shoes, eats hay and eats about $2K in vet bills per year.
So, I suppose I could drive that $80K SUV but, I've different priorities.
So, I suppose I could drive that $80K SUV but, I've different priorities.
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