re: Would you shiite your pants if you had a $700+ car note?

Posted by gthog61

Irving, TX

Member since Nov 2009

71001 posts

Posted on 11/26/17 at 8:19 am to lsu xman

Not really because presumably if I had one it would be because I initiated it and it didn't fall from the sky

Posted by tigeroarz1

Winston-Salem, NC

Member since Oct 2013

3398 posts

Posted on 11/26/17 at 8:28 am to JumpingTheShark

quote:
The title of this thread sounded like the idea for a terrible TV game show.

Yeah, I initially read this title as some kind of bet.

Posted by CarRamrod

Spurbury, VT

Member since Dec 2006

57503 posts

Posted on 11/26/17 at 10:41 am to eScott

quote:
Why pull money from an investment that you're making 20% on

and what are you making 20% on.......

2 ...

Posted by Howyouluhdat

On Fleek St

Member since Jan 2015

7529 posts

Posted on 11/26/17 at 10:52 am to CarRamrod

quote:
and what are you making 20% o

Nothing without a substantial amount of money. Printing money is not realistic. It builds trust and you understand where that leads

Posted by arkiebrian

NWA

Member since Nov 2006

4167 posts

Posted on 11/26/17 at 11:07 am to lsu xman

quote:
Would you shiite your pants if you had a $700+ car note?

Damn right I would I pay cash for everything I own.

Posted by go ta hell ole miss

Member since Jan 2007

13672 posts

Posted on 11/26/17 at 3:40 pm to kywildcatfanone

quote:
Some of you guys have a $700 payment per month for a domestic vehicle? Are you serious?

That's not a lot. Plenty of domestic vehicles cost 40-60k, which leads to 700-900 notes. And, with interest rates between 2.5-3.25% on new vehicles I am not sure why anyone would not take out a loan. Money is still cheap for new cars and houses.

Posted by go ta hell ole miss

Member since Jan 2007

13672 posts

Posted on 11/26/17 at 3:45 pm to CarRamrod

quote:
and what are you making 20% on.......

Damn near everything in the stock market right now. You can throw darts and pick a winning mutual fund with 20% returns over the last 12 months. Won't stay like that for a sustainable period, but it is currently happening. What are you investing on that is not getting those returns over the last 12 months?

Posted by OceanMan

Member since Mar 2010

20055 posts

Posted on 11/26/17 at 3:52 pm to go ta hell ole miss

O&G, pharmaceuticals, a few blue chips like GE and IBM just off the top of my head

Posted by SundayFunday

Member since Sep 2011

9322 posts

Posted on 11/26/17 at 4:05 pm to lsu xman

Right now? Yeah that wouldn’t work for me.

A few years from now , no, but that’s the highest I’d like to go since I’m not interested in luxury cars.

Either way, i shite my pants today so I’d like to not do that again.

This post was edited on 11/26/17 at 4:06 pm

Posted by PhiTiger1764

Lurker since Aug 2003

Member since Oct 2009

13940 posts

Posted on 11/26/17 at 4:47 pm to lsu xman

I wonder how many of the people who have "no problem" affording a $700+/month note are also maxing all retirement avenues available to them (401k, Roth, HSA).

I'm sure everyone on the OT does.. just wondering about other people not from the OT.

Posted by gorillacoco

Baton Rouge

Member since Oct 2009

5320 posts

Posted on 11/26/17 at 5:07 pm to eScott

What the hell are you making 20% on?

Posted by sabanisarustedspoke

Member since Jan 2007

4947 posts

Posted on 11/26/17 at 6:42 pm to lsu xman

Yes I would. And I'd wipe my arse with the 4 bills I saved that month.

Posted by member12

Bob's Country Bunker

Member since May 2008

32133 posts

Posted on 11/26/17 at 6:48 pm to lsu xman

quote:

An example would be..

$55K F-150
$15K down, finance $40K at 2.5% for 60months

$710 note

Whoever buys that is a fricking moron.

Posted by foshizzle

Washington DC metro

Member since Mar 2008

40599 posts

Posted on 11/26/17 at 7:12 pm to EA6B

quote:
Most large cap index funds have returned 20% over the last year.

Have they for 30 years though?

I'm all for borrowing at 2.5% for that long - it's only very slightly above inflation and those are terms even most national governments can't get from investors. But it's a very bad idea to assume that this year's returns will last for 29 more.