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Started By
Message
re: At local Honda dealership this morning
Posted on 1/13/24 at 2:12 pm to thefodgather
Posted on 1/13/24 at 2:12 pm to thefodgather
quote:
A trade in should have no bearing on the negotiated price.
It has a bearing on the financed amount when you have to factor in enough to payoff the trade-in.
0
Posted on 1/13/24 at 2:13 pm to Porpus
Why would I want to drive a Yukon XL? Is it that much more comfortable than another vehicle on a long trip?
Posted on 1/13/24 at 2:24 pm to BigApple
quote:
I pay $3,700 a month combined for my note plus my wife’s but we ain’t driving a damn Pilot!
Oldmanbeasley doesn’t understand why you would publicly admit that you pay 3700 a month in car notes.
Posted on 1/13/24 at 2:28 pm to LSUScores
quote:
Why would I want to drive a Yukon XL? Is it that much more comfortable than another vehicle on a long trip?
100%. Features change a lot in 10 years and the overall size of a Yukon XL vs a Corolla would be worth it if you had a couple of kids to bring along.
Posted on 1/13/24 at 2:33 pm to Tiger Prawn
quote:
Even the top of the line Pilot trim is around $50k. A 72 month loan for $50k at 7% interest rate is around $850 a month. I doubt that guy is somehow $20k upside down on his trade in…because that seems awfully hard to do unless its been wrecked and not repaired, plus highly unlikely a bank would approve a loan that high above the new vehicle value. Baw is probably only upside down by a small amount but his credit score sucks, so he’s getting a 15% interest rate
I was curious if a bank would actually approve a loan when the collateral is only 60% of total amount borrowed.
Your scenario seems more plausible
Posted on 1/13/24 at 2:36 pm to CaptainsWafer
quote:
Absolutely. At some point in their lives, many people begin to view a vehicle as a status symbol and a part of their identity. That’s obviously the case with the fool in the OP.
With a Honda Pilot???
That just compounds the issue.
Posted on 1/13/24 at 2:38 pm to SPEEDY
quote:
For a Honda fricking Pilot???
Seriously. At some point, you just have to swallow your pride and go buy a 30 year old grandma Buick for $5,000. I wonder how many of these would be old and solid used cars were destroyed in cash for clunkers.
This post was edited on 1/13/24 at 2:39 pm
Posted on 1/13/24 at 2:39 pm to lsufan1971
$100k for a Pilot
Posted on 1/13/24 at 3:07 pm to lsufan1971
I’ll keep my POS 2005 Camry with 130,000 miles.
Posted on 1/13/24 at 3:42 pm to ronricks
(no message)
This post was edited on 1/13/24 at 3:42 pm
Posted on 1/13/24 at 3:44 pm to dukke v
quote:
I will never pay $1200 a month for a vehicle.
I will never pay more than $500/month. Unless something drastic happens, I don't see myself financing a vehicle again. I want a truck now, but I'm at the point in my life where I'm done trying to impress anyone, so if I'm fairly certain it won't have issues, I'll pay cash. I'm not financing an $80K vehicle.
quote:
in the hell would write that loan.
It'll take 3 years to pay on the loan what that vehicle costs. IF it gets removed or totalled that buyer is still responsible for the balance owed. Whoever did that just fricked themselves 3 ways from Sunday. Went in and bought that Pilot for his wife, under his name. Meanwhile Jody is at his house, and he can't divorce her because she has to have a car to drive the kids around in so he's going to be stuck paying that car note and child support if he wants a divorce.
This post was edited on 1/13/24 at 3:50 pm
Posted on 1/13/24 at 3:48 pm to Porpus
quote:
I think there's a happy medium, though. Those smug posts from people who've been driving the same 2010 Corolla or whatever for years and years are a little depressing.
2010 is nothing. I drive a 2002 Tundra. I'm not smug, I'm not depressed. I haven't had a car payment in 20 years.
Posted on 1/13/24 at 3:57 pm to thefodgather
quote:
A trade in should have no bearing on the negotiated price.
It doesn't if it's either paid off or you have equity at the time of trade. When you owe 2,3 or 5 thousand bucks, that has to be added into the amount financed unless you think the dealer should just swallow the negative equity.
Posted on 1/13/24 at 4:05 pm to LSUSkip
quote:
I want a truck now, but I'm at the point in my life where I'm done trying to impress anyone
Same and I've been there for years. My wife and I earn a pretty nice living and I hope my fairly basic 2017 F150 lasts another 7 years.
Posted on 1/13/24 at 4:08 pm to lsufan1971
What is it that they say about a fool and his money?
Posted on 1/13/24 at 4:17 pm to nuwaydawg
quote:
2010 is nothing. I drive a 2002 Tundra. I'm not smug, I'm not depressed. I haven't had a car payment in 20 years.
I think I’m on my 7th vehicle since 2002
Count my wife’s 4 or 5 and that’s 11 or 12 since we got together in 2006.
This post was edited on 1/13/24 at 4:37 pm
Posted on 1/13/24 at 4:21 pm to Rize
Everyone knows the Pilot will be paid for after a few loads of illegals and after a run or two with drugs. One weekend and done.
Posted on 1/13/24 at 4:26 pm to lsufan1971
I love owning my vehicles outright.
Posted on 1/13/24 at 4:26 pm to bluedragon
quote:
Everyone knows the Pilot will be paid for after a few loads of illegals and after a run or two with drugs. One weekend and done.
If the dude could pull that off he wouldn't be upside down on his previous vehicle
Posted on 1/13/24 at 4:28 pm to LSUScores
quote:
Why would I want to drive a Yukon XL? Is it that much more comfortable than another vehicle on a long trip?
I drove a Honda HRV from Atlanta to New Orleans not long ago, and it really does get pretty claustrophobic after a while. That HRV is very good for most of the driving we do, but I completely understand why someone would spend significantly more on a vehicle.
This post was edited on 1/13/24 at 4:29 pm
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