car notes bout to be da new housing bubble VOL. NTers paying BMWs off in 73 months

I choose to have a car payment. I could have bought my car outright but I just put 5k down and financed the rest at 2.9%, and invested the money and have made a pretty decent return.
 
97 months for a car is kinda long but I heard they are doing that because most families cant afford a new vehicle anymore
 
blazersin2k3 said:
I choose to have a car payment. I could have bought my car outright but I just put 5k down and financed the rest at 2.9%, and invested the money and have made a pretty decent return.
Click to expand...

Yup I did the same I'd rather pay $25 interest a month and have a car payment than pay for it outright

Ill end up paying like $750 interest over the course

Again you get people with no sense of finance savvy telling the next man what to do
 
sniper said:
Also, this 'Cash is King' mentality is ridiculous. This is the modern era, folks. Having good credit is actually 'King'.
Click to expand...

I disagree.

It's nice to have good credit, but some people prefer buying things outright.
 
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ninjahood said:
buying a used cars and staying outta debt >>>>>> slaving over a 97 month car note....
Click to expand...
:lol: @ slaving.

:lol: @ thinking being in debt will cause your life to crumble

:lol: @ thinking you're not gonna need credit

:lol: @ thinking you can buy everything cash.

:lol: @ not looking at the opportunity cost of investing in something with a greater return that could offset a note.

Oh yeah... the housing market is the new housing market bubble. REITS buying up every home.

It's either gonna be :x or :pimp: in 7 years

(Oh yeah... this is GENERALLY speaking. I know some nters refuse to use credit. I'm talking average people)
 
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no one here is going to make a compelling argument on having 97 month paying on a depreciating asset like a

car .. da more i listen to some of ya da more i realize why this nation is in da bind in da first place...
 
ninjahood said:
no one here is going to make a compelling argument on having 97 month paying on a depreciating asset like a

car .. da more i listen to some of ya da more i realize why this nation is in da bind in da first place...
Click to expand...

Somebody in this thread made an argument for a 97 month car loan?
 
ninjahood said:
no one here is going to make a compelling argument on having 97 month paying on a depreciating asset like a

car .. da more i listen to some of ya da more i realize why this nation is in da bind in da first place...
Click to expand...

Somebody in this thread made an argument for a 97 month car loan?
 
Jking0821 said:
Paid for my corolla in cash. Cars are a terrible investment in theory they all do the same thing...get you from point A to point B. Never understood why some one pays 100k for their car with leather interior and "would grain" and then drives 100mph on I-95....i figured you would drive in the slow lane so you could stay in your luxury car as long as you can and enjoy what you paid for.

Side bar: Girl i know bought a 2003 3-series for 9k it had 70k miles. She put like $500 down....she has refinanced the car 2 times already and still owes $7500...she has had the car for 1.5 years now....but her long time bf is a BMW mechanic....and she LOVES BMWs and its her baby and its on IG every day...so its ok.....idiots
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Well, everyone has a thing they will pay for.

She could consider most NTers as idiots for having basements/rooms full of shoes made of fake leather and deteriorating rubber soles.

>D
 
thenewjs23 said:
Jking0821 said:
Paid for my corolla in cash. Cars are a terrible investment in theory they all do the same thing...get you from point A to point B. Never understood why some one pays 100k for their car with leather interior and "would grain" and then drives 100mph on I-95....i figured you would drive in the slow lane so you could stay in your luxury car as long as you can and enjoy what you paid for.

Side bar: Girl i know bought a 2003 3-series for 9k it had 70k miles. She put like $500 down....she has refinanced the car 2 times already and still owes $7500...she has had the car for 1.5 years now....but her long time bf is a BMW mechanic....and she LOVES BMWs and its her baby and its on IG every day...so its ok.....idiots
Click to expand...

Well, everyone has a thing they will pay for.

She could consider most NTers as idiots for having basements/rooms full of shoes made of fake leather and deteriorating rubber soles.

>D
Click to expand...

This blows my mind every time this topic gets brought up on this message board.
 
In my opinion if you cant afford to finance it for 48 months, you are living beyond your means.

What gets me also is not only people financing for stupid long terms, but the apr they get for these loans. 7-14% or higher? WTF is wrong with you?

Its amazing what people would do for a whip.

Got my SRT for 48 months and 0%. :smile: :smokin
 
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Air Spider 777 said:
In my opinion if you cant afford to finance it for 48 months, you are living beyond your means.

What gets me also is not only people financing for stupid long terms, but the apr they get for these loans. 7-14% or higher? WTF is wrong with you?

Its amazing what people would do for a whip.

Got my SRT for 48 months and 0%. :smile: :smokin
Click to expand...

everyone doesnt have good credit or a decent debt to income ratio thats why
 
Al Audi said:
everyone doesnt have good credit or a decent debt to income ratio thats why
Click to expand...

I'm well aware of that part. I know how credit works.

But my point being is that your wanting of that vehicle is overtaking your senses.

7-14% on a loan? No thanks.

If you have less than stellar credit and cant get a low apr, saving up for a cash payment is your best option. Paying stupid interest on anything (car, credit cards, personal loans) is ridiculous.
 
Air Spider 777 said:
I'm well aware of that part. I know how credit works.

But my point being is that your wanting of that vehicle is overtaking your senses.

7-14% on a loan? No thanks.

If you have less than stellar credit and cant get a low apr, saving up for a cash payment is your best option. Paying stupid interest on anything (car, credit cards, personal loans) is ridiculous.
Click to expand...

i agree with you 100%

i dunno, people are stupid man an have priorities messed up.
 
GetYaShinebox said:
Just bought a new car, negotiated $7635 off MSRP, down payment $28500 (includes cash I got for my previous car), and financed the rest 3% at 36mo $320/mo (had the cash but have non existant credit history, so...). I did A LOT of research to get the best deal I could on the car, and was patient in selling my car privately to get top dollar.

The most important info IMO is my down payment was a very strict percentage of my total liquid funds and my monthly payment was a very strict percentage of my monthly DISPOSABLE income. The percentages were different but neither exceeded 15%.

Basically, I set myself up so that I can recoup my out of pocket cash in about 6mo and monthly payments will not affect my lifestyle prior to buying the car. The car is also exactly what I wanted and I'll be happy with driving it for 6+ yrs.
Click to expand...

Damn brother, it seems as if the 3%/36 month financing was used to penalize you for putting such a massive downpayment. Was there any way you could've take a longer term with 0% financing and then made lump sum payments after a year or so?
 
Air Spider 777 said:
I'm well aware of that part. I know how credit works.

But my point being is that your wanting of that vehicle is overtaking your senses.

7-14% on a loan? No thanks.

If you have less than stellar credit and cant get a low apr, saving up for a cash payment is your best option. Paying stupid interest on anything (car, credit cards, personal loans) is ridiculous.
Click to expand...

This is what used to drive me crazy. DTI and PTI ratios were crazy out of whack but they "fit" my program so I atleast legally had to give them an approval. Once in awhile I'd get the loan and be pissed it was on my books. 15%+ for a car. Ridiculous.

I'd rather drive a Pinto than pay over 5% on a car.
 
I just hate seeing my friends finance cars at 15+% for 5yrs on Corolla's/Civic's and think that's okay or buying old luxury cars with 60k+ mi thinking they're doing it :smh:
 
Personally i dont see the problem... if 97 months gets ur payment where ur comfortable whatever... dont mean u gotta keep it till its paid off

Not sumthin id personally indulge n.but yea more power to ya. My car is a 4yr obligation and thats prob 2.5 yrs longer than ill keep it. dont see the big difference
 
Off topic but since when did GT-Rs go up in price to $100k, I could've sworn they were in the mid to high 70s a couple of years ago.

Nissan be hiking their prices word to Jordan Brand
mean.gif
 
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