Holy Shit Credit card rates!,,

[02sled]

8 minutes ago, Angry ginger said:

sort of,  first 100k is usually pretty cheap but the second 100k your going to be spending money on repairs and for many of these people they really can't afford the repairs because the rest of their financial life is in shambles. 

I know of a few people like that. If mortgage rates go up about 2% they will be in trouble. They are house poor.

[Dave]

2 minutes ago, 02sled said:

You don't have to be wealthy to afford new. I have always bought new trucks all my life. I just got what I could realistically afford. The first couple were pretty bare bones. The last 5 were F150 King Ranch. After almost 7 years, the longest I've ever had one for, I got about 50% of what I paid for it as a trade and since I only pay tax on the new truck minus the trade value, the net was more than 50% of what I paid for it.

This is why i believe rev is talking out of his ass. 

[Rod]

I have a visa I didn’t use a lot. Small purchases maybe up to a grand. Paid it off in full every month like clock work. 

one month I maxed it out on heavy equipment parts. Around 10k. Got the bill, sent the cheque. Just like usual 

next month huge interest charges. Called them and they said I was a few days late. Bullshit. Too convenient. Told them to cancel the card but they reversed the charges instead 

[snoughnut]

11 minutes ago, 02sled said:

If only 2% of the people are buying new cars how will there ever be enough used cars to supply the other 98%. New cars can be purchased from the low end to the high end and anywhere in between. The average person can indeed afford a new car. Just one within their means.

The average person can't afford to have an old used car that is in constant need of repair. They need to be confident that when they go out and turn the key to go to work it will start.

That is an over used wives tale, I have an '02 F 150 that's been paid off since 2007 and it has never been in "constant" need of repair as a matter of fact, it's been far cheaper to repair it occasionally rather than making $500+ per month payments on a new truck. BTW it has never failed to start and it has 200,000 miles on it.......winning!!!

[Dave]

Just now, snoughnut said:

That is an over used wives tale, I have an '02 F 150 that's been paid off since 2007 and it has never been in "constant" need of repair as a matter of fact, it's been far cheaper to repair it occasionally rather than making $500+ per month payments on a new truck. BTW it has never failed to start and it has 200,000 miles on it.......winning!!!

So because you have a reliable old shitbox...that means they all are.

 

[snoughnut]

4 minutes ago, DISABLED DAVE said:

So because you have a reliable old shitbox...that means they all are.

 

I own 4 vehicles and none of them have been a financial burden to repair vs making payments on new vehicles. One of the big problems today is image, plenty of people would rather fuck themselves financially buying new vehicles rather than be seen in an old "shitbox".......I love driving my old shitboxes knowing they're paid for, it's a great feeling.

[awful knawful]

5 minutes ago, DISABLED DAVE said:

So because you have a reliable old shitbox...that means they all are.

 

84 LTD II  sold in 99

87 Mustang still own

96 corolla  sold in 2013

89 Toyota truck sold in 2010

03 camry sold in 2017

09 ram still own

14 or corolla still own

They all had 240000-365000 kms

None were unreliable. 

[teamgreen02]

Being in debt sucks.  I had some student loans and my wife had a bunch.  Enough that I could have snow checked a new sled, wrecked it every year @f7ben style, and bought a new one the next year in cash, for the better part of a decade.

All our expenses we can get go on our Citi Double Cash for 2% cash back.  Chase Amazon for 5% on Amazon purchases.  Nothing goes on we don't already have cash in the bank for.  Just put a new $7k mower on the card for points.  Paid it off as soon as the transaction posted.  Use the price protection, rental car insurance, extended warranties, and no foreign transaction fees.

Debt is dumb, cash is king.   I don't care what the interest rate is.  House is on a 15 year at 2.75% fixed.  Maxing out both 401k's too.  Don't have new sleds or vehicles but we are ok with that.  Buying a gently used skid loader in cash soon, hopefully this fall.

[Dave]

Just now, snoughnut said:

I own 4 vehicles and none of them have been a financial burden to repair vs making payments on new vehicles. One of the big problems today is image, plenty of people would rather fuck themselves financially buying new vehicles rather than be seen in an old "shitbox".......I love driving my old shitboxes knowing they're paid for, it's a great feeling.

Thats you....not everyone is like you. 

[Dave]

Just now, awful knawful said:

84 LTD II  sold in 99

87 Mustang still own

96 corolla  sold in 2013

89 Toyota truck sold in 2010

03 camry sold in 2017

09 ram still own

14 or corolla still own

They all had 240000-365000 kms

None were unreliable. 

Of course not.

[awful knawful]

1 minute ago, DISABLED DAVE said:

Thats you....not everyone is like you. 

Me too. I don't give a fuck what it looks like. Long as it's reliable.

My wife always has the "new" vehicle 

[teamgreen02]

Just now, awful knawful said:

84 LTD II  sold in 99

87 Mustang still own

96 corolla  sold in 2013

89 Toyota truck sold in 2010

03 camry sold in 2017

09 ram still own

14 or corolla still own

They all had 240000-365000 kms

None were unreliable. 

2008 Honda Odyssey, 220k miles.  Did the timing belt stuff last summer and put tires on this spring.  Burns oil but still drives great.

2010 Ford Focus, 170k miles, put in new A/C last year.  Could use an alignment and tire balance.  Doesn't burn a drop of oil.  I should post my complete repair history, I wrote it all down.  Front brakes, power steering pump, tires, a/c, oil, and trans oil, and that's pretty much it.

[awful knawful]

1 minute ago, DISABLED DAVE said:

Of course not.

Image Dave. New handle! 

All my old shitbox's were more reliable than your tranny blowing ecoturd!

[teamgreen02]

5 minutes ago, snoughnut said:

I own 4 vehicles and none of them have been a financial burden to repair vs making payments on new vehicles. One of the big problems today is image, plenty of people would rather fuck themselves financially buying new vehicles rather than be seen in an old "shitbox".......I love driving my old shitboxes knowing they're paid for, it's a great feeling.

I told my dad I now finally understood why we had used vehicles that they drove for a long time when growing up.  Repairs were always minor and lots of qualified local guys to fix anything for cheap.

[Dave]

6 minutes ago, awful knawful said:

Image Dave. New handle! 

All my old shitbox's were more reliable than your tranny blowing ecoturd!

I drive an 05 3500 silverado and a 06 jetta.

Tranny didnt cost a penny to fix on the eco turd.

My house is a tiny little place...last thing im worried about is image.

[ArcticCrusher]

24 minutes ago, DISABLED DAVE said:

This is why i believe rev is talking out of his ass. 

What I get a kick out of is someone who is supposed to be very successful living his everyday life like he is just starting out.   

 

If your plan ain't working by now it never will.

[Dave]

Just now, ArcticCrusher said:

What I get a kick out of is someone who is supposed to be very successful living his everyday life like he is just starting out.   

 

If your plan ain't working by now it never will.

Yup...thats what I see as well.

[awful knawful]

1 minute ago, teamgreen02 said:

I told my dad I now finally understood why we had used vehicles that they drove for a long time when growing up.  Repairs were always minor and lots of qualified local guys to fix anything for cheap.

My dad's last new vehicle was the 1989 Toyota truck. He had used from then till his 14 corolla. He turned 65, got his old age and figured the government was paying for it. Now has 18 camry. He's going to be 69. Fuck it!

[awful knawful]

2 minutes ago, DISABLED DAVE said:

I drive an 05 3500 silverado and a 06 jetta.

Tranny didnt cost a penny to fix on the eco turd.

Paying for it or not has zero to do with reliability. 

[teamgreen02]

1 minute ago, awful knawful said:

My dad's last new vehicle was the 1989 Toyota truck. He had used from then till his 14 corolla. He turned 65, got his old age and figured the government was paying for it. Now has 18 camry. He's going to be 69. Fuck it!

My parents are the same.  Now they are buying new vehicles in cash.  Truck is an 08 but tough to justify buying a new one and driving it though his hunting land.  Doesn't care if he scratches this one.

[Dave]

1 minute ago, awful knawful said:

Paying for it or not has zero to do with reliability. 

Reliability is luck.

[snoughnut]

2 minutes ago, teamgreen02 said:

I told my dad I now finally understood why we had used vehicles that they drove for a long time when growing up.  Repairs were always minor and lots of qualified local guys to fix anything for cheap.

Old shitboxes FTW!!!!!

[spin_dry]

22 minutes ago, snoughnut said:

That is an over used wives tale, I have an '02 F 150 that's been paid off since 2007 and it has never been in "constant" need of repair as a matter of fact, it's been far cheaper to repair it occasionally rather than making $500+ per month payments on a new truck. BTW it has never failed to start and it has 200,000 miles on it.......winning!!!

I’ve purchased one new car in my life. Biggest regret ever. Over the years i’ve bought used. I have a good friend that’s an auto broker. He deals with very high mileage vehicles that have been maintained. I picked up my sienna for $2000 bucks. I’ve driven it for 17,000 miles and had to replace the battery. $65 fleet farm battery. Just think of all the depreciation costs that I’m saving. I drive this vehicle anywhere in the county with 220,000 miles. I get a thrill out of living frugal. I wish more people would. 

[GGNHL]

For those high and mighty used vs new car debate for those with limited means, this is a very good piece.

http://www.thetruthaboutcars.com/2015/02/no-fixed-abode-gotta-rich-cheap-car/

"On  the Internet, everybody has a six-figure savings account and a seven-figure retirement account. Everybody pays cash for everything while simultaneously dumping massive amounts of money into investments. They’re all the Millionaires Next Door and they know more about money and investing and prudent decision-making than Warren Buffet and Sam Walton combined. In the real world, people are victimized by everything from economic downturns to poor decisions they made when they were too young to know any better. In the real world, most families are just getting by and the rainy-day money they’ve saved rarely measures up to the endless tide of rainy days.

For those families, a new-car payment is a burden — but it’s one they can predict and live with. It sucks to “throw away” $300 or $400 every month, but it’s never a surprise and in exchange they have freedom from surprises. They have freedom from the surprise of losing two days of work or being stuck with their children by the side of a fifteen-degree freeway all night or having to diagnose mechanical issues using a cellphone flash and whatever conventional wisdom their parents bothered to impart when they weren’t off doing their own thing. They know that every month they are exchanging a fixed sum of money for certainty and reliability.

Viewed from one perspective, this incident absolutely validated the cash-for-used-car-and-learn-to-fix-it mentality. Viewed from another perspective, it was a damning indictment of a philosophy that requires plenty of time and flexibility to make work. To own and run a million-mile Lexus, or any other car where the maintenance and repair is your sole responsibility, requires that you have time to deal with the breakdowns, resources to cover the gaps in your life when problems occur, and the ability to pay for and install anything from a radiator to a differential. Which means, when you think about it, that a million-mile Lexus is something that it perhaps wasn’t quite when it hit the showroom back in 1996."

[snoughnut]

3 minutes ago, DISABLED DAVE said:

Reliability is luck.

Dave, you just keep making yourself look dumber. If that were true, a Model T would be as reliable as modern day vehicles