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Posted on 1/8/24 at 3:13 pm to Fletch1985
quote:wow never thought about this way. very deep.
You are right, but most people aren’t disciplined enough to pursue this strategy. They will spend that sixty grand in the bank on vacation and toys, rather than invest.
So most people should select a reasonably priced vehicle (35k-55k) and pay cash. If they can’t pay cash, they should put down as big a down payment as possible and finance the rest on as short a term as possible, from the most efficient lender which is often a local credit union.
This leaves them with a paid off vehicle rather quickly and cash flow for other needs/wants
Posted on 1/8/24 at 3:15 pm to T Lasso
quote:
I don’t need a pick up truck for work. I have a Lexus ES,
Such thrift!
Posted on 1/8/24 at 3:52 pm to bayoudude
quote:
Not car payments but I’ll be damned if I don’t pay that much to my insurance every month.
A teenage driver will give you insurance sticker shock.
Posted on 1/8/24 at 3:57 pm to XenScott
Yep, insurance on our youngest was more than my wife and I were paying combined when we added her.
Posted on 1/8/24 at 4:19 pm to fallguy_1978
700 a month for 60m 0.00% interest
Posted on 1/8/24 at 5:18 pm to Split2874
quote:
700 a month for 60m 0.00% interest
People here are quick to brag about not financing a big purchase. All the while they could be pissing away money if a low interest rate is available.
Posted on 1/8/24 at 7:20 pm to Areddishfish
quote:
Such thrift!
Was a 2015 with 48k miles. $23k
If that’s worth your sarcasm, then I’m sorry you’re real poor
Posted on 1/8/24 at 7:40 pm to lsu777
quote:
haha tell me your poor without telling me you are poor.
jesus some of yall need better jobs. most in this thread are some broke and poor Mfers.
That is not remotely fair there are a lot of people that just don't value a car past its utilitarian purpose. My firm's managing partner drives a 10+ year old Honda Accord, has been making a 7-figure salary for over 20 years and doesn't have vices or ex-wives that limited him to that. The man could drive a Chiron if he liked but cars are no different to him than a trash bag, if it is good enough to accomplish the task there is no reason to pay more for something "better".
Posted on 1/8/24 at 7:42 pm to Obtuse1
quote:
My firm's managing partner drives a 10+ year old Honda Accord, has been making a 7-figure salary for over 20 years and doesn't have vices or ex-wives that limited him to that.
I don’t call that living
Posted on 1/8/24 at 7:44 pm to Obtuse1
I have a family member who is fairly wealthy and drives a 2011 Camry. Some people don't care about vehicles. I'm increasingly becoming this way.
Posted on 1/8/24 at 7:44 pm to lsu xman
$850 a month for note and repairs, my company is paying.
Posted on 1/8/24 at 7:44 pm to lsu xman
$1,349....
Posted on 1/8/24 at 7:47 pm to Obtuse1
quote:
My firm's managing partner drives a 10+ year old Honda Accord
My brother went to UVA Law and has been a patent attorney in DC for 15 years. Up until last year his only vehicle was a 98 Tacoma stick shift that he has had forever.
What did he buy? A used Accord and he kept the Taco.
This post was edited on 1/8/24 at 7:50 pm
Posted on 1/8/24 at 9:37 pm to lsu xman
2k for one and 1350 for the other
Posted on 2/9/24 at 12:50 pm to lsu xman
Posted on 2/9/24 at 12:56 pm to lsu xman
My truck payment is $705 per month. Thankfully my vehicle allowance is $700 per month.
Posted on 2/9/24 at 12:56 pm to lsu xman
My rig is paid off.
Posted on 2/9/24 at 12:59 pm to lsu xman
Mine is $475 but I pay $600 to pay it off early. 6 more months!!
Hope it last another 8-10 years because I do not plan on getting another one anytime soon. Prices are just to much for me and owning a new vehicle isn't as important as I once thought it was..
Hope it last another 8-10 years because I do not plan on getting another one anytime soon. Prices are just to much for me and owning a new vehicle isn't as important as I once thought it was..
Posted on 2/9/24 at 1:33 pm to KLSU
(no message)
This post was edited on 3/3/24 at 10:02 am
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