jeffro
New member
Ha, I can tell your pissed off you "retard" your typing is messed up. Yeah, I lied :bleh:
Now you can have more money for mods...
- Thread starter MTG
- Start date
Ha, I can tell your pissed off you "retard" your typing is messed up. Yeah, I lied :bleh:
07JKSahara
New member
13_gecko_rubi
Caught the Bug
Yes to each his own...
I've seen folks that spend way above their means. I've also seen folks that wont spend a nickel. I have never seen an armored vehicle following the hearse to the grave site. How one chooses to live their life is up to them. As long as I don't have to pay for their mistakes, more power to 'em
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Ya because there no such thing as autocorrect on an iPhone lol. If I was 20 I would want to beat the shit out of you but unlike you I've grown up. Let's do what you requested and stop this stupid kid banter, 1. It's a waste of my time and 2. See number 1.
thardy
Banned
Ha! How'd that go over?
JAGS
Hooked
A long standing financial lesson I was taught and still follow is you do not finance "toys." So, atvs, dirt bikes, jet skis, boats, campers etc would fall in that category. If you want one, buy it. If you can't afford to by it, maybe you should reconsider.
As for financing a car for 7+ years, it's not wise for the consumer nor is it making any real profit for the finance company in the long run. Just a bad trend all around for reasons the article doesn't mention.
MedixJK
-
Yup. Im with you 100%. I told him to me, its worth it. Not only does it get me from a to b, but it provides endless enjoyment and memories for my family and i.
Given then current situation, he didnt really have anything else to say lol.
Very good advice!
MTG
Caught the Bug
That's horrible advice! You should buy, and finance, all the toys to really need (edit: I mean want). That's what life is all about right? :idontknow:
It can be wise, particularly at low or zero percent interest. For example, I might do it just because I know I can invest the money elsewhere at a higher rate...or so I read on google.
The problem is that most people don't utilize it that way. They simply see the reduction in monthly payments and buy something more expensive or that which they couldn't afford otherwise. :crazyeyes:
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JAGS
Hooked
My pops is a very smart man and one of the most financial and business savvy people I know. The older I get, the more I try to learn from him.
That's the issue right there on several fronts. Most of the folks doing this long term financing don't utilize correctly. Additionally, 9.5 times out of 10 they don't have perfect credit to get those low rates in first place.
This trend is similar to housing bubble not too long ago. We saw how that ended. Values are different, but replace the empty homes with empty cars/toys. Auto loan delinquencies are on the rise and it's becoming a problem.
But hey, that million dollar home on a 5/1 ARM is affordable for the Denny's cook making 38k a year. So never mind all the above. While I'm waiting for service today, think I'll pick me up another JK and maybe even the badass Charger I'm staring at right now. Cuz I can.
That's awesome to have. I've learned a ton from my father-in-law but running a very large e-commerce company taught me TONS about how finances, tax, depreciation, amortization, compounding interest,etc work in the real world.
I agree with your statement that if you can't afford the "item" maybe you need to reconsider it.
I've once stayed at a Holiday Inn Express :yup:
LOL hey me too!
MTG
Caught the Bug
That's a lie. I'm sure you've stayed at a Holiday Inn Express more than once. :bleh:
JAGS
Hooked
Lol. Plenty of real world experience here. As for my dad, he didn't get where he is by just reading Money magazine.
I don't need/want to put a family tree bio out, but I've posted bits and pieces of my own experience here and there over the years. That said, you're never too smart to be stupid, so I like seeing different perspectives. Have had offline conversations with forum friends. Self betterment is ongoing...at least for me.
Taking somewhat back on topic. It's also funny to see what some people's version of "afford" is. Lol.
:thumb: :yup:
Sharkey
Word Ninja
These threads always amuse me. I get to see first hand, on a daily basis, the effects of the financial decisions people of varying socio-economic status make individually and through their businesses.
I see smart people breach contracts they should have never entered into simply because they can with little risk of recourse; I see incredibly unintelligent people get unbelievably lucky and make millions of dollars in spite of their own ignorance; and, I see people "shift" their ethics simply because it suits their own personal bottom line without regard to how doing so impacts our financial system as a whole.
What I have learned from all of this is twofold: (1) financial decisions are not "one size fits all" decisions; and, (2) the "glassiest" of homes tend to be those from which stones of financial condemnation and/or condescension are thrown.
I see smart people breach contracts they should have never entered into simply because they can with little risk of recourse; I see incredibly unintelligent people get unbelievably lucky and make millions of dollars in spite of their own ignorance; and, I see people "shift" their ethics simply because it suits their own personal bottom line without regard to how doing so impacts our financial system as a whole.
What I have learned from all of this is twofold: (1) financial decisions are not "one size fits all" decisions; and, (2) the "glassiest" of homes tend to be those from which stones of financial condemnation and/or condescension are thrown.
highoctane
Caught the Bug
I just bought my wife a new '15 Ford Cmax SEL this week, and did 36 month financing, and USAA gave me a killer rate. Anymore I won't buy a new vehicle if I can't afford a large enough downpayment to make a 36 month loan payment affordable. Ive done 72 month financing once, on my '04 TJ Rubi that I bought new. Never again. I was young and the low car payment looked good. Then come the 4 year mark, at the rate I was putting miles on it I was upside down. It was finally paid off with over 120k miles.
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