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re: Article: "Record number of car buyers 'upside down' on trade-ins"
Posted on 11/28/16 at 8:30 am to 50_Tiger
Posted on 11/28/16 at 8:30 am to 50_Tiger
Ok, just checking.
I can only speak for Houston, but rent is pretty damn stupid. 8 years ago, I had a 500 sq ft APT for $530, now I'm in a 880 sqft for $930. I've always gone by $1/sqft rule. My place is looking like it will drive the rent up on me, I've been shopping around, but not in the range of any houses being 50-100k more than what they're worth. Exxon coming in on the Northside didn't help prospective homebuyers at all.
I can only speak for Houston, but rent is pretty damn stupid. 8 years ago, I had a 500 sq ft APT for $530, now I'm in a 880 sqft for $930. I've always gone by $1/sqft rule. My place is looking like it will drive the rent up on me, I've been shopping around, but not in the range of any houses being 50-100k more than what they're worth. Exxon coming in on the Northside didn't help prospective homebuyers at all.
1
Posted on 11/28/16 at 8:31 am to GetCocky11
quote:
I'm always interested in hearing reasoning behind making the choice to lease. I feel like leasing gets unnecessarily shite on sometimes.
It's not all that bad if you genuinely want a new vehicle every 2-3 years, don't want to frick with outside maintenance, and have enough income to not really give a frick. I have an uncle who was been leasing M3s for 25 damn years.
Posted on 11/28/16 at 8:31 am to HempHead
Car Gurus will show the average price paid for a specific vehicle, as well as low an high points paid. I was checking it out the other day. I've known abut KBB.
Posted on 11/28/16 at 8:32 am to GetCocky11
I have a solid questions. What if you just literally have in your budget money appropriated for a car? I know half of you would say that can be spent elsewhere, but what if I just want the peace of mind knowing I have a lower probability of being stranded on the road for mechanical failure? Or even the social aspect of having a clunker? (just throwing arguments out there for discussion)
Posted on 11/28/16 at 8:33 am to 50_Tiger
Do you even AAA, brah?
Posted on 11/28/16 at 8:33 am to GetCocky11
Leasing has a different set of pros and cons. It's a pretty good choice if you take clients out for dinners or locations with relative frequency as it affords you the luxury of a new vehicle every few years for the sake of keeping up appearances and amenities
Posted on 11/28/16 at 8:33 am to Mir
quote:I'll happily take my 2% interest rate and put the other $25,000 in the market to make me more than 2%
Never buy a vehicle that you can't pay for with cash.
Posted on 11/28/16 at 8:35 am to SabiDojo
well my insurance co (State Farm) I think in contracted out AAA for roadside assistance.
I guess its just a personal thing. I owned 2 used vehicles before finally buying new and the experience has been night and day.
I guess its just a personal thing. I owned 2 used vehicles before finally buying new and the experience has been night and day.
Posted on 11/28/16 at 8:37 am to GetCocky11
quote:
I'm always interested in hearing reasoning behind making the choice to lease.
Every car depreciates the second you drive it off the lot (basically the down payment for a lease) so I don't see the disadvantage to it. My stepmom has leased her last few cars and it has worked out well for her.
Posted on 11/28/16 at 8:38 am to GetCocky11
People have to have the latest and greatest shite which is why no one keeps a vehicle anymore. Even though you can drive a modern vehicle 250k miles and 10+ years before things start to wear out the technology in the dash and console gets outdated well before that. No one want's to drive the flip phone version of a vehicle these days even though they get you around just as good.
This post was edited on 11/28/16 at 8:39 am
Posted on 11/28/16 at 8:39 am to ThatMakesSense
quote:
, but rent is pretty damn stupid. 8 years ago, I had a 500 sq ft APT for $530, now I'm in a 880 sqft for $930
Lol my first 1BR/1BA was $1400/mo in San Diego County. That was 10 years ago.
Posted on 11/28/16 at 8:41 am to GetCocky11
How many of these are either fully loaded Dodge Challengers, or fully loaded truck nut pickups?
Posted on 11/28/16 at 8:41 am to momentoftruth87
I pay 1400 currently for 1200 sqft. Im essentially renting a house...well maybe not anymore since it seems like the avg home price is approaching 300 fricking k
Posted on 11/28/16 at 8:41 am to momentoftruth87
quote:
Lol my first 1BR/1BA was $1400/mo in San Diego County. That was 10 years ago.
My first 1BR/1BA in my hometown was $275 in my hometown 12 years ago.
I'd have paid the extra 1125 if I could have.
Posted on 11/28/16 at 8:42 am to momentoftruth87
quote:
1BR/1BA was $1400/mo in San Diego County
No doi. Recently had a job offer in Santa Monica area, went to check out places after the interview, granted I was looking in Ocean Park area..frickers were staggering. $3000-$4000 was the normal for a 650sqft. No thanks.
Posted on 11/28/16 at 8:42 am to TIGRLEE
quote:
Vehicles are worst investment a human can make.
truly.
We have four vehicles (down from 6), and they are all old and paid off and each serves a purpose (and my insurance agent lets me just suspend coverage seasonally when not using one or more).
Numerous times, I have started down the path of consolidating to something new (or new-ish) and just can't justify it. yesterday, i saw some guy in the grocery store parking lot inspecting his Lexus's rims. I thought, man I don't want to have to think about my freaking rims or any of that shite.
We look like poors, which I like.
1999 Ford F250 SuperDuty 4WD 7.3L diesel. Work horse. I've changed the glowplugs once, i change the oil myself, and I had a brake job done once.
2002 Honda Civic 4dr with 203k miles. We still drive this thing cross-country. Oil changes and I replaced a cam sensor myself this summer.
2000 Jeep Cherokee Sport 4WD inline 6: i traded some legal work for a new radiator. Had A/C replaced years ago under extended warranty that came with it (bought used in 03). otherwise routine maint.
2008 Subaru Forester. Only car I bought new. It has been maintenance free. But ironically, it's my most troublesome car because of the head gasket issue with these engines around 100k. It's at 90k, so I use it for trips up the ski hill and to Lowe's.
Unless you just bought something really shitty, the best/cheapest car is the one you have.
Posted on 11/28/16 at 8:43 am to HempHead
quote:
a model year old, maybe 10k-15k miles for about 70% of the price of a brand new one.
Looks like I need you to find my next pick-up truck.
Posted on 11/28/16 at 8:43 am to Topwater Trout
quote:
Car salesman "how much you want to pay a month" god people are suckers
That's a valid question. Some people have no idea what they can afford.
Triangle sales. Money down. What you want. Monthly note. Buyer only gets to pick two.
Can a finance manager use it to maximize backend? Sure. But the question is there to help the salesman know if they should even proceed with the deal.
Posted on 11/28/16 at 8:46 am to Cdawg
quote:
Looks like I need you to find my next pick-up truck.
I wasn't thinking of trucks, honestly. They retain much better value than cars, especially with gas as cheap as it is.
Anyone want a '66 C10 with 475k on it?
Posted on 11/28/16 at 8:46 am to X123F45
quote:
Triangle sales. Money down. What you want. Monthly note. Buyer only gets to pick two.
How do you figure that the buyer can only pick 2 of the 3?
Say you roll in, ready to trade-in a vehicle to use as down payment..thats 1 right there. Have an idea of what you want in a new vehicle and a price you're willing to pay. That would be all 3, yes?
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