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Posted on 6/19/26 at 10:51 pm to DVinBR
quote:
the problem is people who don't have significant assets purchasing $60k vehicles and don't save money
And then cry they can’t afford a house.
Posted on 6/19/26 at 11:00 pm to lsu xman
I haven't bought a new car since 99. Ford truck, 0% interest
My ex wife bought a new one 2 days before we married. LOL. She knew I wasnt gonna do that. She had her own coin, so whatever.
To this day it's still a major regret of hers
My ex wife bought a new one 2 days before we married. LOL. She knew I wasnt gonna do that. She had her own coin, so whatever.
To this day it's still a major regret of hers
Posted on 6/19/26 at 11:21 pm to lsu xman
We’re car note free until daughter gets wife’s car in a couple of years, We’ll see how much we borrow and what car we get.
When I was young and stupid (circa 2010) I bought wife a 2008 Escalade and our note was $600/month. We could well afford it, but it still made me nauseous paying it every month. I’ll never do that again.
When I was young and stupid (circa 2010) I bought wife a 2008 Escalade and our note was $600/month. We could well afford it, but it still made me nauseous paying it every month. I’ll never do that again.
Posted on 6/19/26 at 11:28 pm to CaptainsWafer
quote:
I bet this thread is full of people bragging about how they have a paid off car and anyone paying a note is dumb.
I bet car salesman love people like you
Posted on 6/19/26 at 11:37 pm to LSUfan4444
quote:
ain't no sucka and don't buy new. If I can't upvote or downvote, I'll just reply
My grandfather made pretty good money for his day, and no matter how well off he was, he refused to buy brand new cars. He always bought them a year old. Told me to let other people pay the premium and work the bugs out.
Posted on 6/19/26 at 11:41 pm to DVinBR
quote:
live within means save and invest buy used, cash
live within means - below means!
save and invest - monthly/regularly
buy used, cash - buy new, cash. If cannot afford cash, low interest and pay yourself note after vehicle is paid off…build that cash in money market…for next new vehicle (new vehicle enables more time to invest notes to self)
This post was edited on 6/19/26 at 11:50 pm
Posted on 6/19/26 at 11:53 pm to lsu xman
Mine's $692 for a 2024 Mazda CX-5 Signature financed at 0%. No regrets here.
Posted on 6/20/26 at 1:17 am to Pintail
quote:
Federal law requires backup cameras.
How the frick would you not want a backup camera?
Give me all the safety sensors, all the cameras.
About a decade ago I almost backed over my son after he got out the house and ran behind my sequioa to give me one more hug.
It still gives me chills to this day. The bit more I pay for additional safety is nothing. I'll make more money. I won't make another son.
Posted on 6/20/26 at 1:41 am to lsu xman
Bought a 2021, traded in my truck that was two years old. Swiped my Credit Card, drove off.
Posted on 6/20/26 at 3:10 am to lsu xman
Mine is $0. But it starting to feel a bit older and I’m sure repairs are coming.
Posted on 6/20/26 at 4:39 am to lsu xman
I couldn’t tell you the last time I bought a new car. They aren’t getting me again. I’ll buy used cars from here on out.
I bought my son a 2016 6 years ago that’s still rolling strong and I’m currently driving a 2012 Cadillac SRX that I bought in 2023. It was driven by some old lady. Both are paid for so I’m not tied to anything and they’re in great shape for being as old as they are.
I bought my son a 2016 6 years ago that’s still rolling strong and I’m currently driving a 2012 Cadillac SRX that I bought in 2023. It was driven by some old lady. Both are paid for so I’m not tied to anything and they’re in great shape for being as old as they are.
Posted on 6/20/26 at 5:23 am to fr33manator
quote:
About a decade ago I almost backed over my son after he got out the house and ran behind my sequioa to give me one more hug.
This is a similar story I heard during my first defensive driving class for a previous job that required when we parked, to have our first move forward (which often meant backing in to parking spots). Scared the shite out of me and I didn't even have kids at the time.
Posted on 6/20/26 at 8:04 am to lsu xman
I overfinanced when the rate was 0.9% in 2022 under the assumption it would moderately outpace inflation.
I won.
I won.
Posted on 6/20/26 at 8:22 am to MyRockstarComplex
quote:
I overfinanced when the rate was 0.9% in 2022 under the assumption it would moderately outpace inflation. I won.
How did you win?
- You had the equivalent cash earning more than 0.9% such that your money was earning more than car financing cost you, for net positive spread?
- You purchased in 2022 before 4.5-5.5% price inflation of new vehicles?
What would moderately outpace inflation?
Curious.
Posted on 6/20/26 at 8:31 am to Everyday Is Saturday
quote:
How did you win? - You had the equivalent cash earning more than 0.9% such that your money was earning more than car financing cost you, for net positive spread? - You purchased in 2022 before 4.5-5.5% price inflation of new vehicles? What would moderately outpace inflation? Curious.
A) I repayed with cheap dollars
B) I sidelined a considerable chunk of the cash I had on-hand in an S&P index fund.
The wrinkle is that the vehicle was overpriced by about 10% due to the COVID auto panic.
Posted on 6/20/26 at 8:55 am to lsu xman
I've always bought used cars with cash until my current car, a 2020 VW Golf I bought in 2022.
I paid 1/2 in cash and financed 10k but that was simply because the dealer practically refused to deal at all if I didn't finance at least half.
It cost a little more but I did it mainly because I was tired of the process of looking and they actually gave me a great trade in price that kind of balanced things a bit without having to worry about selling my older car elsewhere.
The recent process seemed more about getting people to finance than actually selling cars.
Everything is so hocus pocus finance bullshite now that "assets" for books are more valuable than cash.
I paid 1/2 in cash and financed 10k but that was simply because the dealer practically refused to deal at all if I didn't finance at least half.
It cost a little more but I did it mainly because I was tired of the process of looking and they actually gave me a great trade in price that kind of balanced things a bit without having to worry about selling my older car elsewhere.
The recent process seemed more about getting people to finance than actually selling cars.
Everything is so hocus pocus finance bullshite now that "assets" for books are more valuable than cash.
This post was edited on 6/20/26 at 9:03 am
Posted on 6/20/26 at 9:11 am to PeteRose
quote:
I have a 2012 toyota. I’ll drive it to the wheels fall off. Then I’ll put the wheels back on and drive it some more.
I’m 56 years old and am driving the 3rd vehicle I’ve ever owned as the primary driver. Bought a used Mazda GLC in high school and drove it until it wasn’t worth replacing the clutch. Bought a new base Nissan pickup in college for $9k and put 350k miles on it and sold it to a Mexican at a yard sale for $2k. Bought my current Toyota Tundra new in 2007 for $32k and unless something crazy happens, I’ll die with it. Always paid cash and drove them until the repair cost was more than the car value.
I included the qualification “as the primary driver” because I’ve owned other vehicles that my wife and kids drive.
Posted on 6/20/26 at 9:43 am to BhamTigah
quote:
drove them until the repair cost was more than the car value
This intersects a lot earlier than it used to. I remember dad putting a new engine in his 1993 chevrolet truck for something like $1,200. Brand new factory crate engine. I had the transmission rebuilt in my '98 for $900.
These days, depending on the car, you can easily spend $10k on a major repair. The transmission in my 2018 truck is almost $10k just for the transmission. Its insane.
Posted on 6/20/26 at 9:51 am to lsu xman
Not a surprise with all $65,000+ trucks and SUVs on the road.
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