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re: Article: "Record number of car buyers 'upside down' on trade-ins"
Posted on 11/28/16 at 8:21 am to GetCocky11
Posted on 11/28/16 at 8:21 am to GetCocky11
quote:
The average new car loan is for 68 months
Car salesman "how much you want to pay a month"
god people are suckers
2
Posted on 11/28/16 at 8:21 am to Jcorye1
You're under the impression that I'm not exceptionally well off which is false and also operating under the notion that people should live outside of their means rather than practice fiscal responsibility. Sounds like your financial manager isn't giving you good advice.
Posted on 11/28/16 at 8:22 am to 50_Tiger
quote:
Rent anywhere north of 635 for anything more than 700sqft is a house mortgage.
You mean anything less than 700 sqft?
Posted on 11/28/16 at 8:22 am to Topwater Trout
quote:
Car salesman "how much you want to pay a month" god people are suckers
First thing I was asked.
When I told him that I wanted to discuss total price, not the payment, he actually had to pause and sort of reset.
Posted on 11/28/16 at 8:22 am to Mir
quote:
Never buy a vehicle that you can't pay for with cash.
Don't know why this is getting so many down votes. It's one of the best financial rules to live by.
Posted on 11/28/16 at 8:23 am to PrivatePublic
quote:
quote:
Never buy a vehicle that you can't pay for with cash.
quote:
Don't know why this is getting so many down votes. It's one of the best financial rules to live by.
Because it is pretty unrealistic for the middle class given auto prices.
Posted on 11/28/16 at 8:24 am to PrivatePublic
quote:
Don't know why this is getting so many down votes. It's one of the best financial rules to live by.
Because people don't like to drive in something that isn't en vogue or really nice.
Posted on 11/28/16 at 8:25 am to TIGRLEE
quote:
Vehicles are worst investment a human can make.
That is part of the problem. They are never an investment they are always an expense. The other part of the problem is people making 50k a year driving 70k dollar vehicles, the math will never work out in their favor.
Posted on 11/28/16 at 8:25 am to GetCocky11
quote:
When I told him that I wanted to discuss total price, not the payment, he actually had to pause and sort of reset.
it's too bad more people aren't as informed as you are. I guess some are so poor they only care about monthly note and not the cost of the vehicle. Another reason they stay poor. I wonder how many times someone says $400 a month and the sales guy comes back and says we can do it for $423 a month...its only $25 a month for 72 months
Posted on 11/28/16 at 8:25 am to GetCocky11
Leftys want to forgive all auto debt...
Posted on 11/28/16 at 8:25 am to Jcorye1
quote:
Jcorye1
True. But paying cash when you can is a still a good option if feasible. The problem is that the people who are underwater don't have the credit to qualify for a 1 - 2 percent interest loan so that's simply not any more of an option for them then cash.
Posted on 11/28/16 at 8:25 am to HempHead
Is Car Gurus worth a shite, as far as finding a good median price for vehicles?
Posted on 11/28/16 at 8:25 am to GetCocky11
quote:
Because it is pretty unrealistic for the middle class given auto prices.
Buy a 6k or 7k priced mid 2000s Camry. It's totally realistic if you can lower your standards for something that allows you to move from A to B.
Posted on 11/28/16 at 8:26 am to GetCocky11
quote:
Because it is pretty unrealistic for the middle class given auto prices.
I am middle class and bought an 18-month-old vehicle for cash earlier this year. I hate owing money on anything and no way I am paying what they want for new trucks currently. I am ahead of the KBB value on it with no money owed. It can be done unless you just want the latest and greatest.
Prior to that I would always buy new and realized what a stupid investment it is. I even got one with 0% financing and it was still pretty stupid considering the depreciation rate on a vehicle.
Posted on 11/28/16 at 8:26 am to ThatMakesSense
LOL yes my coffee hasnt kicked in this morning
Posted on 11/28/16 at 8:27 am to HempHead
quote:
If it floats, flies, or fricks, you're better off renting it.
YOU try to rent a goat that won't run her mouth these days.
Posted on 11/28/16 at 8:27 am to ThatMakesSense
quote:
Is Car Gurus worth a shite, as far as finding a good median price for vehicles?
KBB is standard, never used Car Gurus. Half of these valuation services didn't exist the last time I bought a vehicle.
Posted on 11/28/16 at 8:28 am to PrivatePublic
They aren't focused on practicing financially sound and logical decisions but rather practicing justification of if they can afford it over time. That's why.
Either way I'm not one to talk I bought my wife a brand new Lexus for Christmas and even though I paid cash it's a hugely depreciating asset and will do no return and not have the longevity to pass down to my kid
Either way I'm not one to talk I bought my wife a brand new Lexus for Christmas and even though I paid cash it's a hugely depreciating asset and will do no return and not have the longevity to pass down to my kid
Posted on 11/28/16 at 8:29 am to Mir
Anybody in this thread lease their vehicle?
I'm always interested in hearing reasoning behind making the choice to lease. I feel like leasing gets unnecessarily shite on sometimes.
I'm always interested in hearing reasoning behind making the choice to lease. I feel like leasing gets unnecessarily shite on sometimes.
Posted on 11/28/16 at 8:30 am to GetCocky11
It's absolutely not unrealistic buddy. People just insist on keeping up with the joneses and want to have something new and shiny rather than focus on long term and accumulate wealth that can turn into income generating assets.
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