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Started By
Message
re: What’s your car payment?
Posted on 2/26/19 at 10:42 pm to Eli Goldfinger
Posted on 2/26/19 at 10:42 pm to Eli Goldfinger
quote:
This is disturbing to me.
Meh, if you think about the grand scheme of things, paying that amount for a car that shouldn't cost much of anything for maintenance and other service over the life of the loan and then continue running reliably for many more years, it isn't thwt big a deal.
0
Posted on 2/26/19 at 10:44 pm to JohnnyKilroy
quote:Oh ok. Now I see what y’all are saying.
Because you can take the cash you didn't use to pay the car off and invest it getting a rate of return much higher than the interest rate on the loan.
If I'm borrowing at 2% and getting 4% return on investment (which is very conservative) then you'd be ahead by financing.
Posted on 2/26/19 at 10:45 pm to JohnnyKilroy
quote:
shite if I'm getting sub 2% rate I'm stretching that loan out as long as they'll let me.
Are places really financing below 2%? That is incredible.
Posted on 2/26/19 at 10:46 pm to Eli Goldfinger
0 Doll Hairs
Posted on 2/26/19 at 10:47 pm to Geauxtiga
quote:
How is it cheaper to to buy a vehicle for 20K and finance it vs paying it cash?
It isn't.
However, unless you are a total retard or have terrible credit... investing that 20k and financing the vehicle puts you in a far better position.
Posted on 2/26/19 at 10:48 pm to HempHead
quote:
Are places really financing below 2%? That is incredible.
I'm sure some places are if you have stellar credit. Things may have changed in the last year or so with rising interest rates. Sub 1% for great credit wasn't crazy just a couple years ago.
I financed at 3% but my car was 13 years old when I bought it. Don't think I could have gotten any lower.
This post was edited on 2/26/19 at 10:50 pm
Posted on 2/26/19 at 10:50 pm to JohnnyKilroy
If I can finance used cars at that rate, ol' Hemp might start selling Chryslers to democrats. 
Posted on 2/26/19 at 10:51 pm to Eli Goldfinger
Both personal cars are paid off and the company car doesn't cost me a thing.
Posted on 2/26/19 at 10:51 pm to Ostrich
quote:
$0 - If I can't pay cash I can't afford it. That goes for all things except for house.
You think this makes you sound smart, but it does not. It is a waste of opportunity cost.
Let's say you buy a $50k car and put $15k down. You finance $35k at 3.5% for 5 years. You will pay approximately $3000 or so in interest.
So, that is roughly $600 in interest every year. You don't think you could do better then that with the $35k in your hand?
Obviously we are not talking discretionary cash or you would simply lease the vehicle, break even on the cost of owning, maintenance and depreciation, and not deal with the headaches, while always being in a brand new car.
Most baws don't understand this -- but cash in hand is actually worth more than the literal dollar value. At least.... in wise hands.
Posted on 2/26/19 at 10:52 pm to TigrrrDad
quote:
Finished with over 150 wins and 4 consecutive world titles. He still trains a few kids in other states and does seminars occasionally
Damn...is that TigrrrDad, Jr. or Frank Dux?
Posted on 2/26/19 at 10:55 pm to TDcline
Do you guys simple math? What's 72 divided by 50k?
$695. Dont mind the interest because you're not paying cash.
Trucks are far more sophisticated than they were 10 years ago at $35k, therefore, they cost more. The correct answer is lease. I lease my loaded lariat 4wd at $675 a month. MSRP of $63k and I dont put money down nor worry about unused taxes and negative equity.
If I doesnt frick you, lease it.
$695. Dont mind the interest because you're not paying cash.
Trucks are far more sophisticated than they were 10 years ago at $35k, therefore, they cost more. The correct answer is lease. I lease my loaded lariat 4wd at $675 a month. MSRP of $63k and I dont put money down nor worry about unused taxes and negative equity.
If I doesnt frick you, lease it.
Posted on 2/26/19 at 10:57 pm to LSUFord
quote:
Do you guys simple math? What's 72 divided by 50k?
$695.
Try again.
Posted on 2/26/19 at 10:57 pm to HempHead
quote:
If I can finance used cars at that rate, ol' Hemp might start selling Chryslers to democrats.
These days used cars are almost definitely going to be mid 3% at the absolute lowest.
Posted on 2/26/19 at 10:57 pm to Eli Goldfinger
With vehicles easily topping $50K, this will be the norm in the future...
Posted on 2/26/19 at 10:58 pm to Eli Goldfinger
I only read the OP so far, but I'd imagine the first page is full of stupid advice like "pay cash for depreciating assets."
Let's see...
Let's see...
Posted on 2/26/19 at 10:58 pm to JohnnyKilroy
Buying used vehicles with cash is for poors that don't have fluidity
Posted on 2/26/19 at 11:00 pm to LSUFord
That 50k sticker is horse shite, baw.
Them trucks probably cost Ford 25k to build and they slap a 55k sticker on there. Then warranty their hard work with 3 year/36k miles, talk about standing by their product.
Them trucks probably cost Ford 25k to build and they slap a 55k sticker on there. Then warranty their hard work with 3 year/36k miles, talk about standing by their product.
Posted on 2/26/19 at 11:01 pm to Sun God
quote:
Buying used vehicles with cash is for poors that don't have fluidity
No, financing a 16k vehicle over 96 month is for poors.
Posted on 2/26/19 at 11:02 pm to HempHead
Mr hemp head of all people I thought you'd recognize my sarcasm 
Posted on 2/26/19 at 11:03 pm to Sun God
I've fallen further off the wagon than I intended and my ability to read sarcasm has dropped with it.
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