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Message
re: Bad Time to Invest in a New Vehicle
Posted on 2/25/09 at 10:55 am to Klark Kent
Posted on 2/25/09 at 10:55 am to Klark Kent
quote:
alright, alright, you all make good points... I can see I obviously need to save up more and be patient, especially with what is going on with the economy.
Hooray!
Im just out of college and paid cash for my pick em up truck. I thought about buying other things (like a house), but with the way things are going, a car might lose value the least over the next few years
(joke but there may be some truth to it 
)
1
Posted on 2/25/09 at 1:30 pm to wizard of smart
My wife and I clear over 10 grand a month and we both have car notes we also have a house note it is stupid to think that to be able to afford something you must pay cash. Put down a good percentage and get your note well below 500 don't listen to some of these idiots only you know your true financial situation
Posted on 2/25/09 at 1:40 pm to tigerclaws15
quote:
My wife and I clear over 10 grand a month and we both have car notes we also have a house note it is stupid to think that to be able to afford something you must pay cash. Put down a good percentage and get your note well below 500 don't listen to some of these idiots only you know your true financial situation
Now that's a pitiful story. Can't even save enough to pay cash for a car and you "clear" over 10 grand a month? I'd be embarrassed to admit such a thing...
Posted on 2/25/09 at 1:47 pm to dawgorama
here's my thing with the paying straight cash...
I am 23 and I am hoping to one day own my own home. How do I get a higher credit rating if I do not finance things like a car or maybe a small credit card? I am in the process of saving for a substantial DP on a house. What else can I do to improve my credit score? JW...
I am 23 and I am hoping to one day own my own home. How do I get a higher credit rating if I do not finance things like a car or maybe a small credit card? I am in the process of saving for a substantial DP on a house. What else can I do to improve my credit score? JW...
Posted on 2/25/09 at 1:53 pm to fenderacoustic85
Pitiful huh? Paid 100 grand on house 10 grand on each vechicle live absolutely great pitiful is someone like you who is jealous of someone elses success. You don't have to pay cash is my point is you live know how to manage your finances right
Posted on 2/25/09 at 1:57 pm to tigerclaws15
quote:
Pitiful huh?
Yes, pitiful as in deserving of pity. I pity anyone who doesn't have the self control to pay cash for a vehicle..especially those who obviously have the means.
quote:
Paid 100 grand on house 10 grand on each vechicle live absolutely great pitiful is someone like you who is jealous of someone elses success. You don't have to pay cash is my point is you live know how to manage your finances right
No jealous of anyones success junior. I don't need "a note" on my car, I pay cash. You're the poster child for financial stupidity.
Posted on 2/25/09 at 1:59 pm to dawgorama
I guess you can buy a 300k home straight cash. You my friend are the idiot
Posted on 2/25/09 at 2:01 pm to fenderacoustic85
quote:
I am 23 and I am hoping to one day own my own home. How do I get a higher credit rating if I do not finance things like a car or maybe a small credit card? I am in the process of saving for a substantial DP on a house. What else can I do to improve my credit score? JW...
If you feel the need to boost your credit score, then you'll have to take on some debt obligations. With cars..avoid new at all cost. You take a huge hit on the value of the car in the first 2-4 years.
Posted on 2/25/09 at 2:01 pm to tigerclaws15
why didn't you pay off the cars instead of putting so much money down on the house? (considering house interest is deductible?)
Posted on 2/25/09 at 2:08 pm to tigerclaws15
--------------------------------------------------------------------------------
This is a discussion about cars, mr fatpockets
Paying payments on a car is just moronic.
quote:
I guess you can buy a 300k home straight cash. You my friend are the idiot
This is a discussion about cars, mr fatpockets
Paying payments on a car is just moronic.
Posted on 2/25/09 at 2:09 pm to dawgorama
quote:
f you feel the need to boost your credit score, then you'll have to take on some debt obligations. With cars..avoid new at all cost.
I'm 22 and in the same boat. I financed two things that I could have paid cash for simply to establish a good FICO score.
Posted on 2/25/09 at 2:09 pm to tigerclaws15
quote:
both have car notes we also have a house note it is stupid to think that to be able to afford something you must pay cash
banks exists to make money, not to do you any favors. they make money on people who use their services and those services come at a price
Posted on 2/25/09 at 2:11 pm to Golfer
quote:
With cars..avoid new at all cost
What if I got a really good deal?? haha!
Posted on 2/25/09 at 3:26 pm to fenderacoustic85
what kind of car were you thinking of getting anyway? i ask because you said you had a sizable down payment to put down and could afford a note around $500 a month for a car $28k-$30k. you shouldn't have a note that high.
and to all the people who say pay cash: not paying for a car in cash does not = not being able to afford it.
and to all the people who say pay cash: not paying for a car in cash does not = not being able to afford it.
Posted on 2/25/09 at 3:57 pm to LSUZombie
quote:
and to all the people who say pay cash: not paying for a car in cash does not = not being able to afford it.
People spend more when they finance something.....they tend to "overextend" themselves a bit..since the "pain" is spread out.
The fact that so many people find the concept of paying cash for a car or anything really (damn guy at Lowe's looked confused when I handed him 6 100 dollar bills for my new dishwasher) is just sad and shows why our nation is so f-ed up.
Posted on 2/25/09 at 4:02 pm to dawgorama
quote:
People spend more when they finance something.....they tend to "overextend" themselves a bit..since the "pain" is spread out.
The fact that so many people find the concept of paying cash for a car or anything really (damn guy at Lowe's looked confused when I handed him 6 100 dollar bills for my new dishwasher) is just sad and shows why our nation is so f-ed up.
but just because someone finances something doesn't mean they cant afford it or are stupid. i pay a monthly note on my car. i make around 50k a year, and i have never missed one payment. i have a best buy credit card and i max it out everytime and get 18 months no interest. i pay it off in less than half the time. i have a 748 credit score. what am i doing that is bad for the economy?
Posted on 2/25/09 at 4:07 pm to LSUZombie
quote:
but just because someone finances something doesn't mean they cant afford it or are stupid. i pay a monthly note on my car. i make around 50k a year, and i have never missed one payment. i have a best buy credit card and i max it out everytime and get 18 months no interest. i pay it off in less than half the time. i have a 748 credit score. what am i doing that is bad for the economy?
You've got it all figured out...keep on keeping on..you're living the "American dream"....atleast until some disaster strikes..then you'll file for bankruptcy...but that's America.
This post was edited on 2/25/09 at 4:10 pm
Posted on 2/25/09 at 4:32 pm to LSUZombie
quote:
get 18 months no interest. i pay it off in less than half the time
Why wouldnt you wait until 17 months 29 days? Put the money aside to pay for that balance in a high interest bearing account.
Posted on 2/25/09 at 4:33 pm to dawgorama
quote:
You've got it all figured out...keep on keeping on..you're living the "American dream"....atleast until some disaster strikes..then you'll file for bankruptcy...but that's America
i knew you wouldn't have a response to this. how about you just accept the fact that not everyone has $30,000 in the bank to buy a car. i'm only 25, not many people my age have anywhere near that in the bank.
i agree with you that a lot of people finance things they can't afford and have to right to buy, but a lot of people can afford those things, they just can't put all the money up front.
you don't have to be a douche about it
Posted on 2/25/09 at 4:35 pm to fenderacoustic85
quote:
I am 23 and I am hoping to one day own my own home. How do I get a higher credit rating if I do not finance things like a car or maybe a small credit card? I am in the process of saving for a substantial DP on a house. What else can I do to improve my credit score? JW...
meh, they'll care FAR more about you having 20% down than they will about your lack of credit history.
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