- 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
1
Posted on 7/1/21 at 12:25 am to Lincoln Dawson
I have never taken out a car loan because if a life lesson I learned from my first FIL. When he got out of residency and started making real surgeon money his first inclination was to buy a car like I think most people feel when they get their first real job. He decided his car still ran so he paid what would have been his car note into a separate savings account for 4 years then bought a nicer car than he would have had by paying cash, he did this his entire career. I didn't really set out to do this but after I graduated law school I planned to get a car but as a car guy I was having paralysis by analysis trying to decide what I could afford that would be exciting to drive. As a result of indecision I started a savings account and payed myself each month after 6 months still undecided I say frick it I am going to do it for 4 years. I continue to do it to this day (though I use better options than a savings account now) and have been able to drive nicer cars than I would have at least earlier in my life. F&I guys hate me but oh well. That 4 years of delayed gratification along with the luck that my car then lasted 4 more years was one of the best financial decisions I have ever made but it has also allowed me to way overpay for transportation which isn't the best decision. Now there are ways to get around this buy buying cars with insanly cheap money thrown out on occasion but cars I really want aren't hard to move and thus never see those sorts of deals. My taste in cars tends to force me to buy cars that are a "good deal" at sticker and occasionally have caused me to pay a market adjustment so smart on one hand and massively stupid on the other.
Posted on 7/1/21 at 12:30 am to Lincoln Dawson
The longest I've ever financed a car for is 60 months. The longest I've ever taken to pay off a vehicle is 36 months.
Posted on 7/1/21 at 12:31 am to harmonics
quote:
$40,000 for a vehicle is insane
I was buying 40k vechiles in my 20’s
Turned 40 Sunday.
This post was edited on 7/1/21 at 12:32 am
Posted on 7/1/21 at 12:38 am to Lincoln Dawson
Well I might have done this. But my note is less than 500.
Posted on 7/1/21 at 1:07 am to Rize
quote:
I was buying 40k vechiles in my 20’s
I'm just a cheap son of a bitch
Posted on 7/1/21 at 1:15 am to Lincoln Dawson
I've got a 2019 Audi and a 2021 GMC Sierra AT4, both purchased new and both of my payments combined are less than that idiot is paying for his Tahoe.
This post was edited on 7/1/21 at 1:51 am
Posted on 7/1/21 at 1:38 am to Lincoln Dawson
If I can get interest under 2%, I'm doing as long as possible. Mathematical is the smart play, especially with inflation.
How much, that depends on the person and their situation.
I'm sure this thread is full of idiots dying pay cash etc. Bunch of mouth breathers who don't understand finance.
Your example in OP though of 8.21% is absurd, especially with today's interest rates.
How much, that depends on the person and their situation.
I'm sure this thread is full of idiots dying pay cash etc. Bunch of mouth breathers who don't understand finance.
Your example in OP though of 8.21% is absurd, especially with today's interest rates.
Posted on 7/1/21 at 1:46 am to Lincoln Dawson
$350 for 350 months
Posted on 7/1/21 at 2:15 am to Lincoln Dawson
That is retarded. I doubt I will ever finance anything again ,but if I do it will be a significant down-payment and no more than 2 years. I also would not buy a 77K vehicle either at 8.2%. I don't understand the fascination to buy a brand new vehicle that this person clearly can't afford and they will be so upside-down on it as soon as they sign the paperwork and drive it off the lot. It seems crazy to me.
Posted on 7/1/21 at 2:37 am to Lincoln Dawson
60 months tops.
.9% maximum
Otherwise I don’t need whatever it is I’m trying to purchase
.9% maximum
Otherwise I don’t need whatever it is I’m trying to purchase
Posted on 7/1/21 at 2:50 am to Lincoln Dawson
Well this is just stupid. Must be jaxston playing travel ball. If you need a loan like that to buy a vehicle, you should definitely buy a cheaper vehicle.
shite, I make 130k a year and my wife's primary vehicle is a dodge caravan. No pics bitches
shite, I make 130k a year and my wife's primary vehicle is a dodge caravan. No pics bitches
Posted on 7/1/21 at 3:15 am to Lincoln Dawson
$0, 0 months. Someone else already said it- if you can’t pay cash you can’t afford it
Posted on 7/1/21 at 3:37 am to Lincoln Dawson
quote:
how much would u finance a vehicle for
I wouldn't.
Posted on 7/1/21 at 5:00 am to Lincoln Dawson
that’s jus crazy. Trucks are expensive as shite though.
This post was edited on 7/1/21 at 9:59 am
Posted on 7/1/21 at 5:01 am to Lincoln Dawson
Paying cash for a vehicle is the only way to go. You’ll pay attention to more of those $500-$2000 options you really don’t want or need and not over spend. You also only have to carry liability insurance so aren’t forced to overspend there either.
FWIW...I’ve never paid more than $15,000 for a vehicle, and it’s not because I can’t afford to.
FWIW...I’ve never paid more than $15,000 for a vehicle, and it’s not because I can’t afford to.
This post was edited on 7/1/21 at 5:05 am
Posted on 7/1/21 at 5:10 am to Lincoln Dawson
I’ve got 4 vehicles all paid for. We bought them at about 2-3 years old, with low miles, well cared for, and paid them off in about 12-18 months.
I hate having the lingering anxiety of debt owed on something that is depreciating. With my house I don’t mind that payment because it has appreciated.
So much wealth in the US has been lost because of 72 and now 84 month auto terms. Imagine if that person drove a nice used car for about 50k (which would be a 3 year old Tahoe with 40k miles) and saved or invested 550/month in some sort of interest bearing account.
I hate having the lingering anxiety of debt owed on something that is depreciating. With my house I don’t mind that payment because it has appreciated.
So much wealth in the US has been lost because of 72 and now 84 month auto terms. Imagine if that person drove a nice used car for about 50k (which would be a 3 year old Tahoe with 40k miles) and saved or invested 550/month in some sort of interest bearing account.
Posted on 7/1/21 at 5:14 am to Lincoln Dawson
They post here
Posted on 7/1/21 at 5:37 am to pioneerbasketball
quote:
If you can't buy it in cash, you can't afford it.
For me, this is correct. The last time I bought was 4 years ago. I also wanted to buy some DIS stock. I bought a $6800 truck, and 50 shares of DIS. I still have both.
Posted on 7/1/21 at 5:39 am to Lincoln Dawson
No more than 4 years
This post was edited on 7/1/21 at 10:09 pm
Page 2 of 7
Popular
Back to top
Follow TigerDroppings for LSU Football News