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re: Would you shiite your pants if you had a $700+ car note?
Posted on 11/27/17 at 9:51 am to DannyB
Posted on 11/27/17 at 9:51 am to DannyB
quote:
not wasting it on a brand new vehicle to do bigger and better things.
What are your bigger and better things?
quote:
It helps out quite a bit that the first ~$100,000.00 I make each year is tax-free. Being married with 2 kids my tax refund is usually more than enough to be considered middle-class on its own as income.
You need to explain this more.
1
Posted on 11/27/17 at 9:54 am to DannyB
quote:
Have never paid over 15,000 for a vehicle and have never and will never buy new and always pay in cash.
This is commendable.
quote:
frick having tens upon tens of thousands of dollars tied up in a vehicle that is usually not worth half of what you paid for it as soon as you drive it off the lot.
You're not avoiding what you think you're avoiding by paying cash.
This post was edited on 11/27/17 at 9:55 am
Posted on 11/27/17 at 9:57 am to lsu xman
I shite my pants on the way to work last week. It was a company issue truck though.
Posted on 11/27/17 at 10:28 am to lsu xman
If your credit score is better than 720 you should be able to get a better rate than 2.5%
Posted on 11/28/17 at 1:49 pm to OceanMan
quote:
please give me access to your crystal ball that will tell me which types of investments will be profitable in 2018. I would also not like to sell any of my current investments at a loss this year, thanks.
DODGX
POAGX
VIMAX
Why not sell current investments at a loss now for tax purposes?
Seems like we have different financial strategies. Just ignore me. Good luck!
Posted on 11/28/17 at 2:39 pm to lsu xman
Id shite my pants for $700
Posted on 11/28/17 at 2:46 pm to NYNolaguy1
quote:
3)thats a hell of a note to pay on a quickly depreciating asset
Are you implying it’s better to have already paid in full for a quickly depreciating asset?
Posted on 11/28/17 at 3:53 pm to lsu xman
quote:
$15K down, finance $40K at 2.5% for 60months
Never put money down on a new vehicle. You can total it and be out most of it, even with GAP insurance.
Posted on 11/28/17 at 4:00 pm to go ta hell ole miss
quote:
DODGX POAGX VIMAX
Why not sell current investments at a loss now for tax purposes?
Seems like we have different financial strategies. Just ignore me. Good luck!
Because those positions aren't necessarily at a loss, just for the year. But thanks for the civil discussion.
I should probably get out of my individual stock positions but have been hesitant. Pharm indexes are very long positions but hurting my overall return. I'm not heavy into O&G but that's definitely an area that could be bringing down overall returns.
Again, point being that while the market may be up, doesn't mean that everyone is up as much as the S&P. But like you said, individual strategies vary
Appreciate the index suggestions, will look into those.
Posted on 11/28/17 at 4:00 pm to Quinn225
quote:
Never put money down on a new vehicle. You can total it and be out most of it, even with GAP insurance.
Typically get better financing with more down.
Posted on 11/28/17 at 4:12 pm to lsu xman
quote:
$710 note
frick that.
Posted on 11/28/17 at 4:17 pm to CorporateTiger
quote:
Are you implying it’s better to have already paid in full for a quickly depreciating asset?
I am suggesting that its better to buy a car for as little money as possible. The newer the car the quicker it depreciates, especially a truck.
Its a bad choice for most people, yet more and more people buy it and drive up the price further.
Posted on 11/28/17 at 4:23 pm to ScopeCreep
quote:
Car note currently is $1000. That’s what happens when you finance 36k for 36 months. Nbd. Buy something cheaper if you’re a poor.
quote:
ScopeCreep
Just checking to see if my gut feeling is correct...
ScopeCreep, what is your monthly mortgage? Not the monthly apartment rent.
Posted on 11/28/17 at 4:23 pm to NYNolaguy1
Well now that is a separate issue then just having a note for a quickly depreciating asset.
Posted on 11/28/17 at 4:45 pm to Mo Jeaux
A refund.....he’s full of shite.
I have 3 and always pay more at the end.
On topic: $900/month.....costs a bit to drive large SUVs with some bells and whistles. When paid off, we will just trade it in for another gas guzzling pleasure cruise. No heartache in doing it either.
That said, I have a company vehicle so that’s the only note.
No financial planning chest thumping here.
I have 3 and always pay more at the end.
On topic: $900/month.....costs a bit to drive large SUVs with some bells and whistles. When paid off, we will just trade it in for another gas guzzling pleasure cruise. No heartache in doing it either.
That said, I have a company vehicle so that’s the only note.
No financial planning chest thumping here.
This post was edited on 11/28/17 at 4:50 pm
Posted on 11/28/17 at 5:14 pm to lsu xman
I personally have leased cars @ $2,500 monthly to doctors & lawyers. They place these vehicles in the companies name and allow their business to pay the notes.
Posted on 11/28/17 at 5:20 pm to AncientTiger
quote:
I personally have leased cars @ $2,500 monthly to doctors & lawyers. They place these vehicles in the companies name and allow their business to pay the notes.
Even if they put it in their own nam who's gives a shite when you're making 50k a month
Posted on 11/28/17 at 5:30 pm to achenator
Been awhile but had a $900 note. BMW ///M Roadster.
Posted on 11/28/17 at 5:30 pm to achenator
NO personal taxes on lease run through business- so $30,000 a year in notes paid by company lease saves $12K in taxes - that is why fella
Posted on 11/28/17 at 5:34 pm to lsu xman
I’ve got a $700/month note on my F150.
Wait......not my F150. My Buick Enclave
Wait......not my F150. My Buick Enclave
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