The Car Payment Thread Vol. Next time I'm buying Used..

[ksteezy]

Originally Posted by recycledpaper

Originally Posted by ksteezy

Originally Posted by Mark Antony

Damn $236 on a 07 TL-S? how much you put down?

now that i think about it, it was a very stupid move....i had an 07' TC that was upraised for 18K...I had paid it off pretty quick, so i used that 18k and put down an extra 10k and financed 12k over 5 years....i could have just stood with my Tc, loved that car, but i wanted a "big boy" car and got lost in the hype...im comfortable with my payments, but i could have been 10k richer with no car note....:kanye shrug:
Pic of the TC 

hold up, you put $28k down on an ACURA and still had to finance $12k? so your total costs were $40k, only $8k cheaper than my FULLY LOADED bimmer.

and you called me an idiot? 

Time out, but you making 700$ payments while im only making 230$....so unless you making 7k a month you remain an idiot in my book...you can jump out of moms basement into your fully loaded bimmer for the NeXT 5 years bro.

 

[ksteezy]

Originally Posted by recycledpaper

Originally Posted by ksteezy

Iron man - i had my share of used cars and bad experiences....the 94 corolla wasnt bad at all, but my #$*@!!$ totaled it...having owned 4 used cars and 3 new ones I can honestly say I much rather pay a constant month to month than having to dig into my backup money for some ##@%#**%.
Only way I'd concider a used car is if it's certified preowned with alot to go on it's warranty...which means the car will hve to be no older than 2 years, in which case I'd still have to pay over 10k for it, which I will never do for any car...if you know how to finance and budget accordingly, have a steady job, financing is not bad at all....obviously if you finance 50k ober 6 years with monthly quotes of 800$ when your monthly income is only 1400$ then you are a fool...my car payment is less than 10% of my income so it doesn't bother me at all.

... but you paid $40k for an acura...

since when are acuras not worth the price tag though?Let me guess you prefer a 3 series or a C-Class?

 

[ksteezy]

Originally Posted by recycledpaper

Originally Posted by ksteezy

Iron man - i had my share of used cars and bad experiences....the 94 corolla wasnt bad at all, but my #$*@!!$ totaled it...having owned 4 used cars and 3 new ones I can honestly say I much rather pay a constant month to month than having to dig into my backup money for some ##@%#**%.
Only way I'd concider a used car is if it's certified preowned with alot to go on it's warranty...which means the car will hve to be no older than 2 years, in which case I'd still have to pay over 10k for it, which I will never do for any car...if you know how to finance and budget accordingly, have a steady job, financing is not bad at all....obviously if you finance 50k ober 6 years with monthly quotes of 800$ when your monthly income is only 1400$ then you are a fool...my car payment is less than 10% of my income so it doesn't bother me at all.

... but you paid $40k for an acura...

since when are acuras not worth the price tag though?Let me guess you prefer a 3 series or a C-Class?

 

[dakingii]

lol this thread is funny

 

[dakingii]

lol this thread is funny

 

[retro23j]

Originally Posted by SoleWoman

330 scion tc 07 08
2 years left but hopefully one year. Since ive been paying extra and plan on dropping extra when i start grad school since student loans will be paused.

next cars will be used.

*fixed for me

 

[retro23j]

Originally Posted by SoleWoman

330 scion tc 07 08
2 years left but hopefully one year. Since ive been paying extra and plan on dropping extra when i start grad school since student loans will be paused.

next cars will be used.

*fixed for me

 

[misterp0315]

I just turned 25 in May.

 

[misterp0315]

I just turned 25 in May.

 

[recycledpaper]

Originally Posted by ksteezy

Originally Posted by recycledpaper

Originally Posted by ksteezy

Originally Posted by Mark Antony

Damn $236 on a 07 TL-S? how much you put down?

now that i think about it, it was a very stupid move....i had an 07' TC that was upraised for 18K...I had paid it off pretty quick, so i used that 18k and put down an extra 10k and financed 12k over 5 years....i could have just stood with my Tc, loved that car, but i wanted a "big boy" car and got lost in the hype...im comfortable with my payments, but i could have been 10k richer with no car note....:kanye shrug:
Pic of the TC 

hold up, you put $28k down on an ACURA and still had to finance $12k? so your total costs were $40k, only $8k cheaper than my FULLY LOADED bimmer.

and you called me an idiot? 

Time out, but you making 700$ payments while im only making 230$....so unless you making 7k a month you remain an idiot in my book...you can jump out of moms basement into your fully loaded bimmer for the NeXT 5 years bro.

yeah, because you spent $22k more on a down payment that i'm using for other things. to each their own right?

 

[recycledpaper]

Originally Posted by ksteezy

Originally Posted by recycledpaper

Originally Posted by ksteezy

Originally Posted by Mark Antony

Damn $236 on a 07 TL-S? how much you put down?

now that i think about it, it was a very stupid move....i had an 07' TC that was upraised for 18K...I had paid it off pretty quick, so i used that 18k and put down an extra 10k and financed 12k over 5 years....i could have just stood with my Tc, loved that car, but i wanted a "big boy" car and got lost in the hype...im comfortable with my payments, but i could have been 10k richer with no car note....:kanye shrug:
Pic of the TC 

hold up, you put $28k down on an ACURA and still had to finance $12k? so your total costs were $40k, only $8k cheaper than my FULLY LOADED bimmer.

and you called me an idiot? 

Time out, but you making 700$ payments while im only making 230$....so unless you making 7k a month you remain an idiot in my book...you can jump out of moms basement into your fully loaded bimmer for the NeXT 5 years bro.

yeah, because you spent $22k more on a down payment that i'm using for other things. to each their own right?

 

[ksteezy]

Iron man - good points, honestlt my argument is about financing, i would concider a certified pre-owned with low mileage and a good warranty, i would still finance it though, in which case the higher interest rates dealers charge fr these used cars screw you in the long run...so I'd be hesitant still...i just don't see myself ever pulling out 10k to dip into a car like I did with my Acura...that wad stupid....but it kept my monthly payments low.

I don't have the car or devotion to work on my car
and i dont know any mechanics, the one i used back in the days juiced me for over 4k on the 97 accord which I paid 3k for, you learn from your mistakes and that's what I did, been financing a new car since and have not regret it one bit....this may not be the case for others though.

 

[ksteezy]

Iron man - good points, honestlt my argument is about financing, i would concider a certified pre-owned with low mileage and a good warranty, i would still finance it though, in which case the higher interest rates dealers charge fr these used cars screw you in the long run...so I'd be hesitant still...i just don't see myself ever pulling out 10k to dip into a car like I did with my Acura...that wad stupid....but it kept my monthly payments low.

I don't have the car or devotion to work on my car
and i dont know any mechanics, the one i used back in the days juiced me for over 4k on the 97 accord which I paid 3k for, you learn from your mistakes and that's what I did, been financing a new car since and have not regret it one bit....this may not be the case for others though.

 

[recycledpaper]

Originally Posted by ksteezy

Originally Posted by recycledpaper

Originally Posted by ksteezy

Iron man - i had my share of used cars and bad experiences....the 94 corolla wasnt bad at all, but my #$*@!!$ totaled it...having owned 4 used cars and 3 new ones I can honestly say I much rather pay a constant month to month than having to dig into my backup money for some ##@%#**%.
Only way I'd concider a used car is if it's certified preowned with alot to go on it's warranty...which means the car will hve to be no older than 2 years, in which case I'd still have to pay over 10k for it, which I will never do for any car...if you know how to finance and budget accordingly, have a steady job, financing is not bad at all....obviously if you finance 50k ober 6 years with monthly quotes of 800$ when your monthly income is only 1400$ then you are a fool...my car payment is less than 10% of my income so it doesn't bother me at all.

... but you paid $40k for an acura...

since when are acuras not worth the price tag though?Let me guess you prefer a 3 series or a C-Class?

bro, acura's are great cars. not for 40k though, i'm just saying. i think you just got got by a high interest rate. and yes, i do prefer 3-series over an acura TL, especially if they're only around $8k in price difference. i'm not a math whiz but if you finance for 5 years, the monthly payments aren't significantly greater (maybe $100ish more per month for me?).

the only thing i see is that you paid more money up front than me so you could pay less per month (much less i might add, which is a good thing for you). on the other hand, if your interest rate is higher than me, it negates some of the benefits you think you're getting with a low monthly payment.

interest rate + base price of the car is all you need to look at to determine whether you got ripped off or sealed a great deal.

 

[recycledpaper]

Originally Posted by ksteezy

Originally Posted by recycledpaper

Originally Posted by ksteezy

Iron man - i had my share of used cars and bad experiences....the 94 corolla wasnt bad at all, but my #$*@!!$ totaled it...having owned 4 used cars and 3 new ones I can honestly say I much rather pay a constant month to month than having to dig into my backup money for some ##@%#**%.
Only way I'd concider a used car is if it's certified preowned with alot to go on it's warranty...which means the car will hve to be no older than 2 years, in which case I'd still have to pay over 10k for it, which I will never do for any car...if you know how to finance and budget accordingly, have a steady job, financing is not bad at all....obviously if you finance 50k ober 6 years with monthly quotes of 800$ when your monthly income is only 1400$ then you are a fool...my car payment is less than 10% of my income so it doesn't bother me at all.

... but you paid $40k for an acura...

since when are acuras not worth the price tag though?Let me guess you prefer a 3 series or a C-Class?

bro, acura's are great cars. not for 40k though, i'm just saying. i think you just got got by a high interest rate. and yes, i do prefer 3-series over an acura TL, especially if they're only around $8k in price difference. i'm not a math whiz but if you finance for 5 years, the monthly payments aren't significantly greater (maybe $100ish more per month for me?).

the only thing i see is that you paid more money up front than me so you could pay less per month (much less i might add, which is a good thing for you). on the other hand, if your interest rate is higher than me, it negates some of the benefits you think you're getting with a low monthly payment.

interest rate + base price of the car is all you need to look at to determine whether you got ripped off or sealed a great deal.

 

[mecks]

Originally Posted by therenegade23

@ ppl paying cash for cars, you don't get a good deal if you do

'10 Civic EX-L
$264
Jan. 2015

Lies my mom paid 28,000 cash for a 2008 BMW 328i last year.

 

[mecks]

Originally Posted by therenegade23

@ ppl paying cash for cars, you don't get a good deal if you do

'10 Civic EX-L
$264
Jan. 2015

Lies my mom paid 28,000 cash for a 2008 BMW 328i last year.

 

[ksteezy]

Originally Posted by recycledpaper

Originally Posted by ksteezy

Originally Posted by recycledpaper

Originally Posted by ksteezy

Originally Posted by Mark Antony

Damn $236 on a 07 TL-S? how much you put down?

now that i think about it, it was a very stupid move....i had an 07' TC that was upraised for 18K...I had paid it off pretty quick, so i used that 18k and put down an extra 10k and financed 12k over 5 years....i could have just stood with my Tc, loved that car, but i wanted a "big boy" car and got lost in the hype...im comfortable with my payments, but i could have been 10k richer with no car note....:kanye shrug:
Pic of the TC 

hold up, you put $28k down on an ACURA and still had to finance $12k? so your total costs were $40k, only $8k cheaper than my FULLY LOADED bimmer.

and you called me an idiot? 

Time out, but you making 700$ payments while im only making 230$....so unless you making 7k a month you remain an idiot in my book...you can jump out of moms basement into your fully loaded bimmer for the NeXT 5 years bro.

yeah, because you spent $22k more on a down payment that i'm using for other things. to each their own right?

you commmited to 700$ a month for 5 years...I had the money which at the time was extra cash in my pockets, so I donot miss it, but what I would be missing would be 700$ a month out of my income, no matter how loaded my car is...financing is great when done in a smart way, what you did was jump into a car thr wa way out your league and now you are making some ridiculous monthly payment....that is unless you are making 7k a month...in which case my apologies....but if you dare say you still at your moms, you are an idiot.

 

[ksteezy]

Originally Posted by recycledpaper

Originally Posted by ksteezy

Originally Posted by recycledpaper

Originally Posted by ksteezy

Originally Posted by Mark Antony

Damn $236 on a 07 TL-S? how much you put down?

now that i think about it, it was a very stupid move....i had an 07' TC that was upraised for 18K...I had paid it off pretty quick, so i used that 18k and put down an extra 10k and financed 12k over 5 years....i could have just stood with my Tc, loved that car, but i wanted a "big boy" car and got lost in the hype...im comfortable with my payments, but i could have been 10k richer with no car note....:kanye shrug:
Pic of the TC 

hold up, you put $28k down on an ACURA and still had to finance $12k? so your total costs were $40k, only $8k cheaper than my FULLY LOADED bimmer.

and you called me an idiot? 

Time out, but you making 700$ payments while im only making 230$....so unless you making 7k a month you remain an idiot in my book...you can jump out of moms basement into your fully loaded bimmer for the NeXT 5 years bro.

yeah, because you spent $22k more on a down payment that i'm using for other things. to each their own right?

you commmited to 700$ a month for 5 years...I had the money which at the time was extra cash in my pockets, so I donot miss it, but what I would be missing would be 700$ a month out of my income, no matter how loaded my car is...financing is great when done in a smart way, what you did was jump into a car thr wa way out your league and now you are making some ridiculous monthly payment....that is unless you are making 7k a month...in which case my apologies....but if you dare say you still at your moms, you are an idiot.

 

[ksteezy]

Im getting carried away calling you an idiot, my bad man, seriously.

But 700$ a month ???....too rich for my blood, I wouldn't be able to pay my mortgage..lol

 

[ksteezy]

Im getting carried away calling you an idiot, my bad man, seriously.

But 700$ a month ???....too rich for my blood, I wouldn't be able to pay my mortgage..lol

 

[ex carrabba fan]

So what is an acceptable % in terms of your monthly payment to your monthly income?

I read someone said it was 10% of his monthly income... is that exceptional?

 

[ex carrabba fan]

So what is an acceptable % in terms of your monthly payment to your monthly income?

I read someone said it was 10% of his monthly income... is that exceptional?

 

[wawaweewa]

Originally Posted by RedMan


Im on your side and i'm calling ducktales on the person who said they had to paid 22K in medical bills. What job pays 15/ hr and provides no health insurance? 10K to 15K for a single person should be enough for one person to last a couple of months or atleast long enough for them to get back on their feet.

What's so hard to comprehend? During that time I was paid 15/hr and there were no benefits.
5 days in the hospital (3 days in the ICU), 2 endoscopies, 2 sessions of anesthesia, 6 units of blood, and all the little @@#$ the hospital tacks on totaled almost 22k. I'm just trying to show how a relativity large chunk of money can evaporate quickly.  This happens to lots of people everyday.

I feel like I'm in the twilight zone. Maybe it's just the way i was raised.
I love how a lot of Americans nowadays hate wall street and complain that we make too much, cheat, lie, and steal, etc. While that may be true to an extent for a certain subset, on the other side of the spectrum all I see are willfully ignorant adults acting like children when it comes to something so simple as  personal finances and protecting yourself financially.

Someone says I only need 6-9 months of expenses. Someone says I only need to save 10% of my income. Most of these "personal finance rules" were created for a different America. In real terms, per capita income in the late 70's was higher than today. Back then 10k was a nice chunk of cash. Now?

I know who I'm talking to though.  Give most on NT 100k and they'll buy an 80k car and put aside the rest to buy either a used pair of Drake's drawers or Kanye's socks.  Probably both

btw, there would be more than a few scenarios where even if one had the cash, taking out a loan against the car would be the better choice.

 

[wawaweewa]

Originally Posted by RedMan


Im on your side and i'm calling ducktales on the person who said they had to paid 22K in medical bills. What job pays 15/ hr and provides no health insurance? 10K to 15K for a single person should be enough for one person to last a couple of months or atleast long enough for them to get back on their feet.

What's so hard to comprehend? During that time I was paid 15/hr and there were no benefits.
5 days in the hospital (3 days in the ICU), 2 endoscopies, 2 sessions of anesthesia, 6 units of blood, and all the little @@#$ the hospital tacks on totaled almost 22k. I'm just trying to show how a relativity large chunk of money can evaporate quickly.  This happens to lots of people everyday.

I feel like I'm in the twilight zone. Maybe it's just the way i was raised.
I love how a lot of Americans nowadays hate wall street and complain that we make too much, cheat, lie, and steal, etc. While that may be true to an extent for a certain subset, on the other side of the spectrum all I see are willfully ignorant adults acting like children when it comes to something so simple as  personal finances and protecting yourself financially.

Someone says I only need 6-9 months of expenses. Someone says I only need to save 10% of my income. Most of these "personal finance rules" were created for a different America. In real terms, per capita income in the late 70's was higher than today. Back then 10k was a nice chunk of cash. Now?

I know who I'm talking to though.  Give most on NT 100k and they'll buy an 80k car and put aside the rest to buy either a used pair of Drake's drawers or Kanye's socks.  Probably both

btw, there would be more than a few scenarios where even if one had the cash, taking out a loan against the car would be the better choice.