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re: House note vs car note

Posted on 2/28/21 at 5:35 pm to
Posted by lnomm34
Louisiana
Member since Oct 2009
12635 posts
Posted on 2/28/21 at 5:35 pm to
Finance 100% of a brand new car? You’ll be upside down so quick.

I know you didn’t ask for my opinion on buying vehicles but I just don’t get the obsession with new vehicles. They're too damn expensive. Their values drop like rocks. They fall apart, get dinged/dented in no time. The technology gets dated, etc. All really quickly. By the time you’re close to paying it off, you’re sick of it and the process repeats itself.

At the end of the day, the way I look at it is: vehicles are depreciating tools meant to get you safely from A to B. I don’t want to pay a note on that tool.
Posted by MrJimBeam
Member since Apr 2009
12431 posts
Posted on 2/28/21 at 5:54 pm to
quote:

By the time you’re close to paying it off, you’re sick of it and the process repeats itself.


Some people hold cars for 15-20 years and barely drive them and don’t plan on buying another for a long time. Maybe you drive 20k miles a year of average cars that hit that 100k fix everything bump. Maybe you’ve just had a bad experience. People flipping cars every couple of years? Sure I see your point financially there but everyone has a different goal with different levels of driving.
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