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re: How much car debt in your houshold
Posted on 1/11/19 at 4:00 pm to 3morereps
Posted on 1/11/19 at 4:00 pm to 3morereps
quote:Without looking, I think around $28k or so.
How much car debt in your houshold
Had a nice run of 2 paid off cars, but it was a 2006 and a 2008, and the time came to upgrade both in 2016 ish within about a 3 month span.
So we have 2 car notes, can't wait for those to be done...though I'm considering another upgrade in the next few months which will reset and add to that debt number.
1
Posted on 1/11/19 at 4:06 pm to TigrrrDad
Yeah I’m gonna have to throw in a old DA BIG FELLA saying when he was here that I agree with. He said make your money. Invest in cash flowing businesses and real estate THEN buy your toys when it will be easily sustainable then
Now if many never hit that ok then. Keep all expenses down. Invest and have a retirement. Nothing wrong with either way. People will have varying levels of success. It’s all relative.
Now if many never hit that ok then. Keep all expenses down. Invest and have a retirement. Nothing wrong with either way. People will have varying levels of success. It’s all relative.
Posted on 1/11/19 at 4:17 pm to The Spleen
We used the third row in our pilot way more on trips than I ever woulda imagined. Now we haven’t used third row in Armada much but it doesn’t matter we need the cargo space and it came
With a 3rd row so no sense fretting over it. It’s probably a standard feature anyway.
With a 3rd row so no sense fretting over it. It’s probably a standard feature anyway.
Posted on 1/11/19 at 4:21 pm to 3morereps
quote:
How would you feel if you invested $30,000 in a mutual fund, and in 5 years it was worth $10,000?
It depends...does the mutual fund do 0-60 in under 4 seconds and corner like it’s on rails?
A car is not an investment. That’s where your logic is flawed. I am paying that much per month for the enjoyment I get out of driving that vehicle. When you pay your electricity bill at the end of the month, do you have a basket full of electricity to show for it and to sell for more than what you paid for it? No. But your air conditioner and refrigerator and blow dryer worked for that month, right?
Posted on 1/11/19 at 4:23 pm to TigrrrDad
Oh i can buy cheap arse used suvs and cars. My current vehicles are 12, 10 and 4 years old. I’ve gotten my money’s worth and then some from first two. Wife will drive pilot to work until it craps out for good and it runs likema champ with over 200k miles on it.
I’ll get her a used Honda CR-V once it’s time. We had two of them before. But I’ll eventually get my used Maserati which I’ll pay for in cash. Only issue now is ridiculous truck prices new and used. But it is what it is. I’ll need the tax deduction soon.
I’ll get her a used Honda CR-V once it’s time. We had two of them before. But I’ll eventually get my used Maserati which I’ll pay for in cash. Only issue now is ridiculous truck prices new and used. But it is what it is. I’ll need the tax deduction soon.
Posted on 1/11/19 at 4:29 pm to TigrrrDad
quote:
A car is not an investment
This x1000.
A car is a means of transportation. They are rarely an investment.
Posted on 1/11/19 at 4:30 pm to 3morereps
~ 29k on 2017 AWD Pilot. It's at 0.99% for 60 months. Walked in with my check book, spoke with the credit "manager", told him my FICO, he said .99% with Honda Credit. I did forget I had frozen my credit with Equifax for their never ending frick ups with safe guarding data, and he called me in a huff the next day. Not as good as the rate I had on my Ford, but that was 3 years prior when debt was almost free. No reason to pay it off, got better uses for the cash.
Posted on 1/11/19 at 4:32 pm to Fat Bastard
quote:
We used the third row in our pilot way more on trips than I ever woulda imagined.
We actually had an Expedition before the Edge, and did use the 3rd row a fair amount. But since getting the Edge, we've adapted and gotten to a point where we rarely need it, and it's just not worth the extra cost and loss of space.
Posted on 1/11/19 at 4:35 pm to 3morereps
I've never had car debt..
04 Avalanche.
But I'm not opposed to it. When I need a new vehicle I am sure I will finance.
04 Avalanche.
But I'm not opposed to it. When I need a new vehicle I am sure I will finance.
Posted on 1/11/19 at 4:54 pm to 3morereps
18 Honda Pilot Touring and a 19 Ram 1500. So, a bunch. Been 10 years since my wife and I had new vehicles so it was time.
Posted on 1/11/19 at 5:04 pm to hungryone
quote:
In all seriousness, cars are the biggest single obstacles to middle class development of wealth
This! (And buying too much house) I financed a car a year after graduating college. We paid it off early and decided never to make car payments again. That decision has led us to keep our cars longer and pay cash when we eventually replace them. I have peers that have little saved for retirement but have consistently driven larger nicer vehicles and frequently upgraded them. They have no choice but to continue working to maintain their lifestyle. Meanwhile we've built wealth instead of making car payments and I could have retired comfortably at 41.
Posted on 1/11/19 at 5:11 pm to TorchtheFlyingTiger
At least house appreciate in value conservatively. Car values plummet. A colleague of mine is constantly complaining about not be able to cover his twins college has had a new car the entire 12 years i have known him. Everyone has their priorities
Posted on 1/11/19 at 5:12 pm to TigrrrDad
quote:
I much prefer a Vette or a 911
I do too. However, I realize that if I buy that 911 it would mean another year or more of full-time work. I don't want to be one of those stories of a guy who died early and worked the entire time instead of spending more quality time with family and enjoying life's opportunities. I'd much rather the freedom to enjoy my time as I choose than having a more enjoyable commute.
Posted on 1/11/19 at 5:42 pm to 3morereps
$0
both vehicles paid for..... Both paid off sub 60 month time frame
both vehicles paid for..... Both paid off sub 60 month time frame
Posted on 1/11/19 at 6:24 pm to 3morereps
10k on my 2018 Atlas
0k on my 2017 Tahoe
0k on my 2017 Tahoe
Posted on 1/11/19 at 6:25 pm to TigrrrDad
quote:
$1,823/month
Posted on 1/11/19 at 7:09 pm to TigrrrDad
Who still has cable?
Posted on 1/11/19 at 7:25 pm to 3morereps
About $10k left on my 2017 Camry SE.
Posted on 1/11/19 at 7:26 pm to 3morereps
$0
Last monthly note I paid was in 2012
Last monthly note I paid was in 2012
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