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Started By
Message
re: The average car is now 12.5 years old and the interest
Posted on 5/14/24 at 10:15 am to Klark Kent
Posted on 5/14/24 at 10:15 am to Klark Kent
quote:
same.
could i go out and buy a new vehicle to match my peers at the office, sure.
do i want to, nah.
I love my paid off '09 Tacoma with 151k miles. near perfect condition. we keep wifey and the kids in a nice SUV and we travel in said SUV. my truck takes me to work. 8 miles round trip. doesn't need to be flashy or new.
I got ribbed on at work for driving a Camry and now get ribbed on for driving a "baby" truck. Screw it, it does everything I need a vehicle to do. The only reason my note is so high is because I opted not to put anything other than my trade in down since there was a 0% interest offer on the financing. I refuse to be house/vehicle poor. The sh*tty thing about my commute is that I'll probably never be able to keep the same vehicle for more than 10 years.
0
Posted on 5/14/24 at 10:17 am to StringedInstruments
quote:
That would speak to the quality of vehicles from 2011/2012 and earlier.
What evidence do you have that current vehicle bad?
Or is this just another example of muh feels from the OT and ignoring data?
Posted on 5/14/24 at 10:18 am to bleedsgarnet
I bought a 2024 Silverado last week. Fully loaded and it's a beautiful truck. I traded in my 2015 Silverado with 160k miles on it and they gave me a more than fair trade for it.
But the interest rate absolutely blows. I had an 830 credit score, which allowed me to get their best interest rate... 6.3%.
They told me it's not uncommon for buyers to have 9-10% interest rates. It's just absurd.
But the interest rate absolutely blows. I had an 830 credit score, which allowed me to get their best interest rate... 6.3%.
They told me it's not uncommon for buyers to have 9-10% interest rates. It's just absurd.
Posted on 5/14/24 at 10:20 am to bleedsgarnet
It is.
The avalanche coming to the economy is housing. The repercussions of a decline in construction hit numerous industries hard.
And…., it’s coming like a freight train.
The avalanche coming to the economy is housing. The repercussions of a decline in construction hit numerous industries hard.
And…., it’s coming like a freight train.
Posted on 5/14/24 at 10:23 am to LSUfan4444
quote:
So when rates hit 17% under Reagan, was it also a representation of the administration?
From the google machine - Home mortgage rates averaged about 8.85% at the onset of the Carter administration in 1977. However, by the end of Carter's presidency in 1981, home mortgage rates averaged a whopping 16.64%. Home mortgage rates have not been this high since the Carter administration.
Average US Inflation rate during the Carter administration was 9.9% (the highest of any president).
Average US Inflation rate during the Reagan was 4.6%.
Source = Investopedia
Posted on 5/14/24 at 10:24 am to bleedsgarnet
Keeping my long paid-off 10 year old Honda with 77,000 miles and still in great shape.
Posted on 5/14/24 at 10:28 am to bleedsgarnet
I am driving my vehicles until they cannot be driven any longer. I refuse to play the new car game the way it currently is unless I absolutely have to.
Posted on 5/14/24 at 10:30 am to GreatLakesTiger24
quote:
regular cab ford ranger?
Not a GOTdamn thing wrong with that.
Posted on 5/14/24 at 10:30 am to bleedsgarnet
I saw recently that the AVERAGE American car payment is $730 a month!!!
Who is doing this????????
Who is doing this????????
Posted on 5/14/24 at 10:34 am to SportsGuyNOLA
quote:
Who is doing this????????
people who live like debt doesn't exist.
there's more of them out there than you think.
Posted on 5/14/24 at 10:39 am to bleedsgarnet
quote:
This is a?worrisome trend..
It isn't for the baws wanting over $40 for 32 hours of work a week.
Posted on 5/14/24 at 10:40 am to Tider13
Yes, I am. I never said I wasn’t buying it from a dealer. Family member offered it to me. Just asked me for a flat 10k. The price wasn’t really the point I was making.
A few years ago many people would say oh don’t buy that it’s a 9-10 year old vehicle. Now, it’s completely different. Does it have ALL the modern bells and whistles? No, but it’s a 2014 F150 that’s in great shape. I checked the vin on it and if I bought it via private sale (non family or friend), it would have been around 15k.
A few years ago many people would say oh don’t buy that it’s a 9-10 year old vehicle. Now, it’s completely different. Does it have ALL the modern bells and whistles? No, but it’s a 2014 F150 that’s in great shape. I checked the vin on it and if I bought it via private sale (non family or friend), it would have been around 15k.
This post was edited on 5/14/24 at 10:41 am
Posted on 5/14/24 at 10:41 am to cgrand
quote:
every time I start to doubt my plan, I remember that I’m debt free and can retire before 60. Regardless of whether I am “rich”, I call that a win
And the depressing reality is it may not matter how you stack up if 60% of the country is in debt and has no retirement savings. The government has shown time and time again that they'll do whatever it takes to prevent people from being held accountable and people have been further incentivized to ignore their debt and financial situations.
The student loan debt crisis is the perfect case study to see how true this is. People willingly take out loans and instead of anyone being held accountable the government just wipes it away.
This post was edited on 5/14/24 at 10:44 am
Posted on 5/14/24 at 10:56 am to CatfishJohn
quote:
- reliability
- leather seats
- AWD
- Apple CarPlay
- at least decent fuel efficiency
- back seat adults can sit in
- trunk my golf clubs can fit in
- not objectively ugly
Outback.
Posted on 5/14/24 at 11:29 am to JimTiger72
quote:
Nah, you can start a thread asking people to donate to your gofundme when you can’t make a car payment
Twist it so that Biden can forgive car loans the way he did student loans. Hey, a loan is a loan and a vote is a vote.
Posted on 5/14/24 at 11:32 am to Geauxld Finger
I really don't know anybody that has bought a new car in the last 5-10 yrs.
Posted on 5/14/24 at 11:35 am to jeffsdad
My Expedition has 133,000 miles on it. So far so good, (knock on wood). I just like not paying a car note.
Posted on 5/14/24 at 11:39 am to bleedsgarnet
I'll let yall in on a secret. Banks will finance 120% over JD Power clean trade. look up a vehicles JD Power clean trade value before you step foot on a lot. KBB dont mean shite...I repeat....KBB dont mean shite.
Posted on 5/14/24 at 11:47 am to Geauxld Finger
quote:
I’m about to buy a 9 year old truck for 10k. It’s got 90k miles but it’s in great shape. I don’t need all the modern bullshite that comes with newer models. I’ll probably keep it for 5+ years or until repairing it costs more than it’s worth
I’ve needed a truck for a while and this beats spending 70k on a new one
Well said.
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