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re: Who is the national market for $80k suv's?
Posted on 10/24/21 at 9:47 pm to Wasting Time
Posted on 10/24/21 at 9:47 pm to Wasting Time
quote:
Well, if you HAVE the 500K cash, it can still work for you. If the seller has your 500K, it cannot.
Yeah, you're underwater in the home, but you still have $260K you can deploy.
Deploy on what, an equity market that at the time had fallen into the shitter? So they would have been both underwater 240k on the financed home and the 260k they had "deployed" would have taken a >20% loss as well?
I think the main issue people ITT are having with you is you've taken the most basic concept of the time-value of money from Finance 101 and are talking down to everybody like you're the smartest guy in the room, while also rationalizing how you blow your cash on horse riding lessons for your little princess...
2
Posted on 10/24/21 at 10:15 pm to tigerfan4120
It’s funny that the horse guy is telling everyone else how to spend money. I have friends in the horse game, and the bills are out of control.
As far as paying cash vs financing, I understand the argument being made about taking the 0% financing, but I still choose the paying cash option. If you have $80K in cash and spend $80K on a car, that’s stupid and you are not good with money. If you have $500K in cash and spend $80K on a car, I think it’s a good decision.
The habits of saving and paying cash for this purchase makes more sense to me. And I don’t like having payments.
As far as paying cash vs financing, I understand the argument being made about taking the 0% financing, but I still choose the paying cash option. If you have $80K in cash and spend $80K on a car, that’s stupid and you are not good with money. If you have $500K in cash and spend $80K on a car, I think it’s a good decision.
The habits of saving and paying cash for this purchase makes more sense to me. And I don’t like having payments.
Posted on 10/24/21 at 10:18 pm to tigerfan4120
quote:Well, I am smarter than quite a few people in this thread, clearly. Alas, I'm not really talking about any of that. My summary a few posts above spells out my reasons for my points in this thread.
I think the main issue people ITT are having with you is you've taken the most basic concept of the time-value of money from Finance 101 and are talking down to everybody like you're the smartest guy in the room, while also rationalizing how you blow your cash on horse riding lessons for your little princess...
And, I don't "rationalize" anything about my spending. I, like everyone else in this thread, spend my discretionary income on things I enjoy or, that my children enjoy. Mine happens to be horses, someone else's might be travel ball, some else's might be hitting the Caribbean every summer. But, we ALL do it. At least, those who have discretionary income.
Sure. I suppose we "should" all use every dollar 100% wisely and never blow it on something we just enjoy, but yeah, that's kinda silly to most. I'm not saying the people who buy the 80K SUV are smart or dumb. I'm saying they're no dumber than 90% of the people in her throwing shade while stretching to buy whatever car they own.
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