\\ Post Your Car vol. Been a minute //

[Grine]

I really dislike vlad and everything he stands for. Deff wouldn't take any financial advice from him.

He is right about financing but it really depends on your situation finance vs lease.

I don’t understand why he never post the importance of being debt free. I truly believe that’s the start of true financial freedom!

 

[slicknick951]

If you cant pay for it cash you shouldnt have it imo

How do you feel about mortgages?

 

[wear rare airs]

If you cant pay for it cash you shouldnt have it imo

This makes zero sense.

Maybe on watches/jewelry. But that's about it.

 

[slicknick951]

This makes zero sense.

Maybe on watches/jewelry. But that's about it.

Parking 100k cash in a car is probably the dumbest thing you can do. Even 50k

 

[flacobey]

If you cant pay for it cash you shouldnt have it imo

That’s not a feasible option for most people who purchase cars.

My rule of thumb is to never finance or lease a car that costs more than what I have in liquid assets.

 

[ninjahood]

always get a chuckle out of "I'd rather..." comments, especially when the cars aren't even cross-shoppable.

actually they are since American SUV makers been chewing marketshare from luxury brands for a few years now.

hellcat>*

 

[boywonder]

How do you feel about mortgages?

Cars and Houses aren't the same. There are many benefits to buying a house. It's considered an asset, you use it to live in, tax benefits, it can draw equity like a bank, etc. You can really do all that in the same manner as a house. At most, people are using their cars as a write off during a lease if they have their own business and such.

Financing a car isn't a bad thing, but the worst is when I see a person having a $1000 a month income and their car note is nearly $700 because they want to stunt with a whip.

 

[ninjahood]

Outside of hypecars and some luxury cars, yes.

nah.

 

[ninjahood]

I'm not ready for that speed or the maintenance cost. This is gonna be my first whip, base model bimmer for me pa

sounds like you should recognize your lane and get a Acura....

 

[niceshoes247]

actually they are since American SUV makers been chewing marketshare from luxury brands for a few years now.

hellcat>*

Pics of hallcat?

 

[ninjahood]

Not a huge fan of de-badging, but some cars look terrible with their factory

most people who debadge do it to hide their base model trappings.... 328i's CLA250's SXT chargers im iookin at you...

 

[ninjahood]

Im not looking to spend that much

get a Caprice PPV...10k all day on da market..

 

[ninjahood]

Do you guys agree? I think this guy gives out the worst financial advice in general..

you don't even own da car when you lease, which flies on da face oh his logic...after you're done with da payments your outta money & car... financing means u keep da car when you done..

 

[Cars]

Owning a house is wildly overrated

 

[Grine]

Owning a house is wildly overrated

You feel the same way about owning any sort of property?

 

[SneakerProSr.]

Owning a house is wildly overrated

It's hard to build net worth without owing property.

 

[Cars]

You feel the same way about owning any sort of property?

My bad. I should clarify. SneakerProSr. Buying a house for the sole purpose of living in it, is wildly overrated

 

[flyknitlvr]

With interest rates as low as they are and the equity markets as strong as they are, you have to be a flat out moron to park your cash in a car. End of discussion.

 

[oh you mad]

If you cant pay for it cash you shouldnt have it imo

My Range Rover is a lease.. direct deposit each month from my companies checking... that money would be going to uncle sam anyways
I wouldnt wanna own a range rover past 30k miles anyways.. im at 17k and already feel issues coming up smh (suspension and electronics are starting to show glitches)

I couldve dropped 106k on the GTR like DMX did in the lambo scene from Exit Wounds but my credit union offered me a 60 month loan @ 1.95% for 90K... as close as you can get to free borrowed money lol.. the rest of the 90k are invested...

Before I was straight cash everything.. paid for my house cash but then realized you dont get any tax breaks and you are cash poor after the purchase lol

 

[Grine]

You’re writing off that lease? That make sense..

1.95% is insane! Now that’s a power play!

 

[boywonder]

Owning a house is wildly overrated

Different strokes for different folks. But if you don't intend on moving all the time, a house will pay dividends for long term wealth. Especially in the right market. Otherwise all the rent you pay goes to pay off someone's mortgage and helps them build their wealth instead.

 

[wear rare airs]

My Range Rover is a lease.. direct deposit each month from my companies checking... that money would be going to uncle sam anyways
I wouldnt wanna own a range rover past 30k miles anyways.. im at 17k and already feel issues coming up smh (suspension and electronics are starting to show glitches)

I couldve dropped 106k on the GTR like DMX did in the lambo scene from Exit Wounds but my credit union offered me a 60 month loan @ 1.95% for 90K... as close as you can get to free borrowed money lol.. the rest of the 90k are invested...

Before I was straight cash everything.. paid for my house cash but then realized you dont get any tax breaks and you are cash poor after the purchase lol

That exit wounds scene is legendary.

When my Jewish accountant saw that I had financed both my 911 and Panamera for 60 months at 2.9% he pretty much chewed me out and called me crazy. Didn’t quite understand what he meant, and I still do believe in owning cars, especially a 911 or GTR as you won’t feel the depreciation as hard.

Going back I should’ve leased the Panamera instead of buying, it would be more advantageous to me. I leased my BMW, getting major tax deductions on the monthly payment plus 50 cents per mile driven and my commute is 70 miles a day, do the math.

 

[krazy88s]

Anyone familiar with oil catch cans? How often do you have to empty it, if at all?

 

[SneakerProSr.]

Parking 100k cash in a car is probably the dumbest thing you can do. Even 50k

If you have that much cash liquid and don’t have good credit you shouldn’t be buying an expensive car.

But if you have that much cash and tier 1 Credit you are killing yourself financially by not investing that cash and taking advantage of a low interest rate.

 

[Cars]

boywonder Absolutely. I'm just saying that the idea that one is expected to buy and live in a home at a certain age is not the smartest move financially and makes much less sense than most people seem to think it does. It pretty much doesn't matter how much a home is worth if you never sell it.

not going to be super long here but let's use #s

history says current owner just purchased in mid december for 238k.
Mortgage ~1150/month @5% 30yrs w/ 10% down.

1BR is 768 but let's say you like space and want the 3BR for $950 even though it's just you.
more than decent looking apartment for someone that's late 20s/early 30s.
Salary at 50k a year there's no way I'd put less than 3k a month toward paying off the house and move on from it as quickly as possible
3000 mgage payment -1825 rent = $1175 + $950 for larger than necessary apt = $2125/ out of pocket monthly housing expense which seems doable

All of this considering completely stagnant career trajectory at 50k, a far from cost cutting living situation, and an interest rate higher than what I saw for a 660 credit score. If this scenario were to start right this minute the house would be paid off in March 2025