- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: The average monthly new car payment in 2022 is $644
Posted on 3/23/22 at 10:02 am to Vacherie Saint
Posted on 3/23/22 at 10:02 am to Vacherie Saint
quote:
I got a better job offer for another firm because I'm not an idiot who buys 90K trucks I dont need.
Why you financing cars every five years if you're such a super successful wealth manager?
1
Posted on 3/23/22 at 10:03 am to RogerTheShrubber
So you built your own vehicle?
Posted on 3/23/22 at 10:05 am to Wabbit7
quote:most of the shite I build myself will be of far less quality and will be far less nice than what I can buy. Especially when talking vehicles.
So you built your own vehicle?
This post was edited on 3/23/22 at 10:06 am
Posted on 3/23/22 at 10:05 am to RogerTheShrubber
quote:
Its super simp!
Classic simp behavior. I'll bet your taste in women is as cheap.
You know you lost the debate when you have to resort to personal attacks. Poor rog.
Posted on 3/23/22 at 10:06 am to RogerTheShrubber
quote:
Its super simp!
Classic simp behavior. I'll bet your taste in women is as cheap.
I love when old people try to use new phrases and fail miserably.
Posted on 3/23/22 at 10:06 am to Wabbit7
quote:
So you built your own vehicle?
No, I accept that they're made of cheap junk, and will be worthless in a few years
Its transportation.
This post was edited on 3/23/22 at 10:07 am
Posted on 3/23/22 at 10:07 am to weagle99
Financing a 60k vehicle with low financing for 84 months lol
Posted on 3/23/22 at 10:08 am to LNCHBOX
Good question. As some have pointed out, debt can be effectively leveraged to MAKE you money. I had the cash to buy that truck, but instead, I invested the cash in real estate about a year ago. That property has doubled in value and has a rental income stream. I financed the truck at virtually zero interest on a short term and I intend to keep it for a long time. That frees up more cash to invest.
Posted on 3/23/22 at 10:09 am to Vacherie Saint
quote:
I had the cash to buy that truck, but instead, I invested the cash in real estate about a year ago.
What about all the other vehicles over the years you've bought? Or are you claiming that real estate always doubles over the course of a year?
Posted on 3/23/22 at 10:10 am to WDE24
I typically buy a lower spec level of a given vehicle, and hit the aftermarket for the missing features I really want. You can typically get higher quality at a lower price this way.
Posted on 3/23/22 at 10:10 am to Vacherie Saint
quote:
I typically buy a lower spec level of a given vehicle, and hit the aftermarket for the missing features I really want. You can typically get higher quality at a lower price this way.
Please tell me these high quality aftermarket addons you install.
Posted on 3/23/22 at 10:12 am to Vacherie Saint
quote:
No doubt. You can cruise through any subdivision in the US and you will see 150K in iron sitting in the driveway of their McMansions. It'll be worth the scrap rate by the time they pay it off
I don’t get some people’s fascination with holding onto a car until they pay it off, or thinking a car is an asset. I look at it more like rent - each monthly note is money that is spent and gone. If I’m at a period in life where we’re doing lots of family traveling, give me that Jag XJL with the heated seat massagers so we can travel in comfort. If I’m looking for fun, give me that Grand Sport or Mach 1 so I can hit the race track. If I need to tow or haul stuff, give me that truck. I’m paying for that service the car provides me until I’m ready for a new one a year or two later. It’s not something I want to pay off and hold onto.
Posted on 3/23/22 at 10:13 am to Vacherie Saint
quote:
I typically buy a lower spec level of a given vehicle, and hit the aftermarket for the missing features I really want
Anyone paying dealer price for some of these add on's is an idiot.
But that's why America is cash poor and fat.
This post was edited on 3/23/22 at 10:14 am
Posted on 3/23/22 at 10:14 am to LNCHBOX
Ive bought some cash, some using financing. Different situations call for a different approach. so?
Who is making shite up now?
quote:
Or are you claiming that real estate always doubles over the course of a year?
Who is making shite up now?
Posted on 3/23/22 at 10:15 am to RogerTheShrubber
We save less than we've ever saved, yet we spend more than we've ever spent. Inflation adjusted incomes have stayed relatively flat. Ask yourself how this happens.
Posted on 3/23/22 at 10:16 am to Vacherie Saint
quote:
Who is making shite up now?
Forgive me for thiking you followed your own advice
quote:
Step 1: Buy a practical vehicle you can afford. The number of 4X4 F250's I see with unblemished trailer hitches is pretty alarming.
Step 2: A good metric is something you can pay off in 5 years or less. Dont stretch your monthly cash flow, either. Keep it comfortable.
Step 3: Take care of the vehicle. Keep up with the maintenance religiously.
Step 4: Keep it for a decade.
Step 5: As soon as its paid off, buy your second vehicle and repeat the process. You're welcome.
Posted on 3/23/22 at 10:16 am to LSUSUPERSTAR
quote:45K for a Tacoma. WTF?!
Eh, no biggie. I bought my Tacoma in May 2020. It was $45052 out the door with $0 down and 0% interest for 60 months. The note is $750/mth.
Posted on 3/23/22 at 10:17 am to Vacherie Saint
quote:
We save less than we've ever saved, yet we spend more than we've ever spent. Inflation adjusted incomes have stayed relatively flat. Ask yourself how this happens.
Its an awesome time to finance stuff, if you're smart. For the average American, that doesn't mean maxing out borrowing ability though.
Most Americans aren't smart enough to handle cheap credit. They can't stop themselves.
Posted on 3/23/22 at 10:18 am to LNCHBOX
quote:Here’s the way I look at vehicle purchases that makes sense for me and hopefully allows me to drive a decent car while simultaneously moving forward on a path to build some wealth:
What about all the other vehicles over the years you've bought?
1. Could I buy this vehicle in cash if I wanted to?
If yes,
2. Would I buy this vehicle if I was paying cash today? In other words, am I buying more vehicle than I otherwise would if I was paying cash instead of financing. If yes,
3. Am I putting that cash to work in investments that I comfortably set out performing the interest rate on my loan.
If yes, I can make that purchase effectively using the math that makes leveraging the banks money work. Also, I don’t use the same money invested to justify the use of more than one auto purchase.
I haven’t always been in a position to answer yes to all of those questions and still financed cars, but I made sacrifices in the cars I purchased (and bought some with cash) in hopes I could get to that point.
Those are my personal guidelines moving forward. It’s not something that is right for everyone or the only or probably best way to go about it.
Posted on 3/23/22 at 10:18 am to TrouserTrout
Yeah there is a reason I am hanging onto my F250 until it’s a classic.. cost $51k brand new in 2012 replacement is $80k plus. It’s not like my salary almost doubled over that same timeframe.
Page 10 of 15
Popular
Back to top
Follow TigerDroppings for LSU Football News