- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- 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: Video of car dealers trying to make paying over $1K a month cool or normal
Posted on 8/29/22 at 8:08 am to GetCocky11
Posted on 8/29/22 at 8:08 am to GetCocky11
quote:Rollin' coal at all the red lights? That's all I've got.
I'd rather just not pay 60k for a vehicle.
What is the difference in you driving your 60k pickup to the office vs me driving my 20k Corolla to the office?
0
Posted on 8/29/22 at 8:08 am to ronricks
quote:
I'd rather not finance depreciating assets especially when we have one hell of a financial disaster on the way.
Even at 0%?
Posted on 8/29/22 at 8:09 am to ronricks
quote:
I'd rather not finance depreciating assets especially when we have one hell of a financial disaster on the way. October is going to be brutal for a lot of people that aren't prepared.
Dude still has 59k left lmao
Posted on 8/29/22 at 8:11 am to Palmetto98
quote:
However, I don’t know many 60k pickup owners constantly whining about used Camry owners unlike y’all.
I don't see anyone whining. Just pointing out the poor financial decision-making.
Posted on 8/29/22 at 8:12 am to lsu13lsu
quote:
Even at 0%?
You still have a monthly note on a depreciating asset. The people in that video are idiots for having $1200 - $1500 a month car payments even if at 0%. Factor in insurance and gas and what is the total every month? It's insanity.
This post was edited on 8/29/22 at 8:13 am
Posted on 8/29/22 at 8:14 am to Palmetto98
quote:
Dude still has 59k left lmao
And dropping 1k a month on transportation. If you're using it to generate revenue, I get it.
This post was edited on 8/29/22 at 8:17 am
Posted on 8/29/22 at 8:14 am to ronricks
quote:
You still have a monthly note on a depreciating asset.
Paying x up front on a depreciating asset isn’t any better than paying x over the course of 5 years.
It’s actually quite a bit worse
Posted on 8/29/22 at 8:15 am to GetCocky11
quote:
I don't see anyone whining. Just pointing out the poor financial decision-making.
Lmao this topic
Posted on 8/29/22 at 8:16 am to JohnnyKilroy
quote:
Paying x up front on a depreciating asset isn’t any better than paying x over the course of 5 years.
I'm not advocating for paying cash or financing a new vehicle. I'm saying BOTH are fricking stupid.
Posted on 8/29/22 at 8:17 am to ronricks
quote:
I'm not advocating for paying cash or financing a new vehicle. I'm saying BOTH are fricking stupid.
We get it, you can’t afford it. You’d rather dump your money on sending your daughter to SMU to major in Gender Studies.
This post was edited on 8/29/22 at 8:18 am
Posted on 8/29/22 at 8:17 am to ronricks
quote:
You still have a monthly note on a depreciating asset.
I think his point is, that outside of the Dave Ramsey model for the financially illiterate, most financially savvy people will tell you to borrow cheap money if you need a new car and invest the cash.
Sadly the days of cheap money and beating interest rates in the market is probably on pause for a few years.
Posted on 8/29/22 at 8:20 am to stout
quote:
Sadly the days of cheap money and beating interest rates in the market is probably on pause for a few years.
My truck has 0 interest and I put 0 down
Posted on 8/29/22 at 8:21 am to Palmetto98
quote:
We get it, you can’t afford it. You’d rather dump your money on sending your daughter to SMU to major in Gender Studies.
You really think what type of car someone drives determines what they can afford or how much assets they have? Are you like 15 or something?
Posted on 8/29/22 at 8:22 am to ronricks
quote:
You really think what type of car someone drives determines what they can afford or how much assets they have? Are you like 15 or something?
Nobody gives af about your house in bum frick Egypt dude
Posted on 8/29/22 at 8:24 am to Obtuse1
quote:
The best piece of financial advice (that I have followed) was my dad telling me never to have a car payment unless it was for minimal transportation. He told me to drive the car I had for 4 years after getting my first job paying myself what would be a car payment each month so I would have the cash to buy a new one in 4 years. I am 55yo now, have owned over 30 cars and have never taken out a single car loan.
This is horrible advice, even worse when you consider you have purchased 30 cars that.
Posted on 8/29/22 at 8:25 am to ronricks
quote:
I'm not advocating for paying cash or financing a new vehicle. I'm saying BOTH are fricking stupid.
I have bought new and I have bought used. I keep vehicles until wheels fall off. Personally, I have had better luck being the only owner of a vehicle. So, buying new and getting less than 2% interest has always been financially better for me.
To each their own. But, just blindly spouting off the crap you guys spout off about vehicles and financing and buying used only is dumb.
Posted on 8/29/22 at 8:26 am to stout
quote:
savvy people will tell you to borrow cheap money if you need a new car and invest the cash.
I'd still rather not shell out a grand a month on transportation.
Half of that sounds better. I can enjoy the rest on something else. Less than 10% of people carry a note that high for a vehicle.
I aint blaming the guy, but he's selling it as sound financial advice.
This post was edited on 8/29/22 at 8:29 am
Posted on 8/29/22 at 8:27 am to Palmetto98
quote:
Nobody gives af about your house in bum frick Egypt dude
And people laugh at folks who make $45k and have $1200 truck payments
Eventually you will grow up and realize what the real world is like and what is and isn't important.
Posted on 8/29/22 at 8:27 am to stout
quote:
Sadly the days of cheap money and beating interest rates in the market is probably on pause for a few years.
GMC appears to still be offering 0% on their website when you click Offers.
Posted on 8/29/22 at 8:28 am to ronricks
quote:
October is going to be brutal for a lot of people that aren't prepared.
Why is October specifically going to be brutal?
Page 4 of 8
Back to top
Follow TigerDroppings for LSU Football News