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Started By
Message
re: Car Sales Are Slipping Into Recession-Level Decline
Posted on 6/13/19 at 3:23 pm to Codythetiger
Posted on 6/13/19 at 3:23 pm to Codythetiger
quote:
I have the money and I'm currently in a place where I can afford a lump sum payment, why not just pay it off in full and be done with it?
This isn't meant as an insult question, I'm genuinely clueless why I shouldn't just pay off a vehicle i owe money on?
Emergency money
0
Posted on 6/13/19 at 3:23 pm to Dead Man Walking
quote:This is the dumbest thing I've seen today...and I've been scrolling a while
You gotta go 96 months out just to make the note affordable on a $40,000 car.
Posted on 6/13/19 at 3:24 pm to lsu13lsu
quote:
I don't use leverage on cash-outflowing depreciating assets like cars
Again, if you keep the asset for the entirety of the life of the loan this is irrelevant.
quote:
.ones I cannot carve out in an LLC away from my other assets.
I'm not sure what you're trying to say here.
Posted on 6/13/19 at 3:25 pm to jchamil
quote:
But a vehicle is a liability, not an asset. A motor vehicle, except in special circumstances, will never be worth more than the purchase price
I guess it's a good thing I don't treat a vehicle as an asset. This is kind of a weird reply to what I posted
Let me clarify. I get what you are saying... if you are paying 20k for a car, you can invest most of that while you pay the loan down and by rule, you will make more through investing than if you spent all 20k at once.
However, most do not do this and this does not account for emergencies which may arise. Personally, I find it better to pay cash and not have a payment looming over my head.
Posted on 6/13/19 at 3:25 pm to CarolinaGamecock99
Price elasticity...manufactures have pushed prices to hard for to long.
Posted on 6/13/19 at 3:26 pm to Mingo Was His NameO
Again, I don't know why you keep trying to convince me you are right. I know you are right. I think having no debt is right for me and many others.
Good lord brotha. You don't know what is best for everyone. Your income would probably increase if you quit trying to change people that don't need changing.
Good lord brotha. You don't know what is best for everyone. Your income would probably increase if you quit trying to change people that don't need changing.
Posted on 6/13/19 at 3:27 pm to Areddishfish
quote:
They semi screwed up by making cars much better than say the 80s and 90s. With the rising costs of vehicles and their guaranteed fast depreciation, people are hanging onto perfectly functioning cars for
bought a 2010 model at the end of jan 2010 and finally thinking i might get a new one end of this year first of next.
Posted on 6/13/19 at 3:27 pm to TN A A Ron
quote:
However, most do not do this and this does not account for emergencies which may arise. Personally, I find it better to pay cash and not have a payment looming over my head.
You bring up an emergency but at the same time talk about using up all the cash just to not have the note.
Posted on 6/13/19 at 3:28 pm to Mingo Was His NameO
quote:
I'm not sure what you're trying to say here.
Some people set up LLCs to manage some of their assets and they even borrow money in them.
Posted on 6/13/19 at 3:28 pm to LNCHBOX
Why can I not justify spending today's prices for a vehicle?
Because its a lot of money...Right now I drive a 2007 Tacoma which I got right after high school for $19,000. The 2019 model will cost well over $33,000 which is almost a 100% increase in price. Hard to justify
Because its a lot of money...Right now I drive a 2007 Tacoma which I got right after high school for $19,000. The 2019 model will cost well over $33,000 which is almost a 100% increase in price. Hard to justify
This post was edited on 6/13/19 at 3:29 pm
Posted on 6/13/19 at 3:29 pm to Olric
quote:
Right now I drive a 2007 Tacoma which I got right after high school for $19,000. The 2018 model will cost well over $33,000 which is almost a 100% increase in price. Hard to justify
I'd bet you aren't comparing equal models, or you bought yours used and are comparing it to the new one.
Posted on 6/13/19 at 3:29 pm to lsu13lsu
quote:
Again, I don't know why you keep trying to convince me you are right. I know you are right. I think having no debt is right for me and many others.
I thought we were having a good conversation. I'm not trying to convince you of anything, I think we've both made good and valid points on two sides of an issue.
quote:
You don't know what is best for everyone.
To be fair its a math equation so there's a right and wrong answer if you take feelings out of it.
quote:
Your income would probably increase if you quit trying to change people that don't need changing
Probably not.
Posted on 6/13/19 at 3:30 pm to jchamil
quote:
I'm pretty averse to debt as well. The way I see it with my low interest car loan is I have the money to pay it off if I really had to, but since I don't I'm happy to let that money generate a little extra for me
I assume you invested the money which means as long as you earn a higher ROI than the interest you're paying you should be good.
Posted on 6/13/19 at 3:30 pm to CarolinaGamecock99
You can thank people like me who have 11 year-old Honda's with 175K on them.
New cars are such a waste of money when you could learn how to do maintenance/repairs properly and spend a fraction on transportation.
New cars are such a waste of money when you could learn how to do maintenance/repairs properly and spend a fraction on transportation.
Posted on 6/13/19 at 3:30 pm to lsu13lsu
quote:
Some people set up LLCs to manage some of their assets and they even borrow money in them.
I'm aware, I just don't understand the point you were trying to convey in that specific instance.
Posted on 6/13/19 at 3:30 pm to LNCHBOX
quote:
I'd bet you aren't comparing equal models, or you bought yours used and are comparing it to the new one.
I bet you are 100% wrong
Posted on 6/13/19 at 3:30 pm to Olric
quote:
Right now I drive a 2007 Tacoma which I got right after high school for $19,000
I'm still driving an 07 Tacoma too. Bought it used in 08 for about $17,000. Probably double that price to get a new one now. Not going to do it!!!!
Posted on 6/13/19 at 3:30 pm to Olric
quote:
I bet you are 100% wrong
Post the specs then.
ETA: Also, are we using your previous definition of 100%, because $33k in nowhere close to a 100% increase from $19k.
This post was edited on 6/13/19 at 3:35 pm
Posted on 6/13/19 at 3:31 pm to Mingo Was His NameO
My bad, my stance is a purely psychological one. I think investing is more than just math. Anything that gives me a psychological advantage I will take.
Others may not need that and I completely get it. When I made my last debt payments on personal assets I never felt more free in my life. For the record, I never had a debt problem and have never listened to Dave Ramsey.
Others may not need that and I completely get it. When I made my last debt payments on personal assets I never felt more free in my life. For the record, I never had a debt problem and have never listened to Dave Ramsey.
Posted on 6/13/19 at 3:34 pm to Mingo Was His NameO
quote:
I'm aware, I just don't understand the point you were trying to convey in that specific instance.
I was saying I am not adverse to debt. I just don't like debt for cash outflowing depreciating personal assets.
This post was edited on 6/13/19 at 3:34 pm
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