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

[recycledpaper]

Originally Posted by heLiumcLinton

I'm confused, are these payments for leasing or financing?

370/60 months? no thanks

you do realize that $370 over 60 months is only $22k?

for a car, considering that the price includes tax + interest, $22k is not bad

 

[recycledpaper]

Originally Posted by heLiumcLinton

I'm confused, are these payments for leasing or financing?

370/60 months? no thanks

you do realize that $370 over 60 months is only $22k?

for a car, considering that the price includes tax + interest, $22k is not bad

 

[eaalto]

DajonDondo wrote:

---

Originally Posted by recycledpaper

i have a feeling some people here are posting their LEASE payments. like homie above me paying $359 for an is350. you must have either 1) paid a LOT down with a low interest rate or 2) leasing that %+@$%.

THE HELL ARE YOU TALKING ABOUT??????????????????????????????? ITS NOT A LEASE. IM FINANCING IT. WHICH MEANS I OWN THE CAR. ***KING IDIOT.

i hate when poeple assume things. 3.49 Insterest rate 12k down.


edit: whoops wrong username..



Actually, you don't own the car, the bank does.  They hold the title.

 

[eaalto]

DajonDondo wrote:

---

Originally Posted by recycledpaper

i have a feeling some people here are posting their LEASE payments. like homie above me paying $359 for an is350. you must have either 1) paid a LOT down with a low interest rate or 2) leasing that %+@$%.

THE HELL ARE YOU TALKING ABOUT??????????????????????????????? ITS NOT A LEASE. IM FINANCING IT. WHICH MEANS I OWN THE CAR. ***KING IDIOT.

i hate when poeple assume things. 3.49 Insterest rate 12k down.


edit: whoops wrong username..



Actually, you don't own the car, the bank does.  They hold the title.

 

[recycledpaper]

Originally Posted by DajonDondo

Originally Posted by recycledpaper

i have a feeling some people here are posting their LEASE payments. like homie above me paying $359 for an is350. you must have either 1) paid a LOT down with a low interest rate or 2) leasing that %+@$%.

THE HELL ARE YOU TALKING ABOUT??????????????????????????????? ITS NOT A LEASE. IM FINANCING IT. WHICH MEANS I OWN THE CAR. ***KING IDIOT.

i hate when poeple assume things. 3.49 Insterest rate 12k down.


edit: whoops wrong username..

are you illiterate? i said you are probably leasing UNLESS you have a low interest rate + a large down payment, which you CLEARLY HAVE.

 

[recycledpaper]

Originally Posted by DajonDondo

Originally Posted by recycledpaper

i have a feeling some people here are posting their LEASE payments. like homie above me paying $359 for an is350. you must have either 1) paid a LOT down with a low interest rate or 2) leasing that %+@$%.

THE HELL ARE YOU TALKING ABOUT??????????????????????????????? ITS NOT A LEASE. IM FINANCING IT. WHICH MEANS I OWN THE CAR. ***KING IDIOT.

i hate when poeple assume things. 3.49 Insterest rate 12k down.


edit: whoops wrong username..

are you illiterate? i said you are probably leasing UNLESS you have a low interest rate + a large down payment, which you CLEARLY HAVE.

 

[stephenhatking]

Originally Posted by recycledpaper

DajonDondo wrote

are you illiterate? i said you are probably leasing UNLESS you have a low interest rate + a large down payment, which you CLEARLY HAVE.

some people with money always want to seem right 

even when you're agreeing with them 

 

[stephenhatking]

Originally Posted by recycledpaper

DajonDondo wrote

are you illiterate? i said you are probably leasing UNLESS you have a low interest rate + a large down payment, which you CLEARLY HAVE.

some people with money always want to seem right 

even when you're agreeing with them 

 

[3onpar5]

Originally Posted by bijald0331

I just don't think 50k is a reasonable figure for most people.

Im 21. Obviously, I'm still in school. I just look at my parents and how they have used their money. My Dad would probably scoff at 50k as a specific emergency fund and that's with 2 kids and a wife. It's just unreasonable for most people to me.

Like it would seriously be a real doomsday scenario to need 50k to hold you off until you got a job. I mean 18 months to find a job? Really? You're going to sit on your $%@ for 18 months and not pick up something up on the side, anything, while you continue your search? How about unemployment benefits, severance package, etc.? I just think 50k is way out there.

Again, are we talking about having your leg chopped off or something? Like that crazy? Or a Katrina-like storm running through your city?

50k is so much money when you don't have a job. You wouldn't be living your normal lifestyle if you lost a nice job. I wouldn't be.

I agree with this. 50K is alot for an emergency fund. You have to realize that if you get in a tough spot you would drop some of the luxuries that you have.

For instance if your total bills are 2,500 per month, that 50K lasts you 20 months. I would assume that you may drop that cell bill you got and get a pre-paid or you would drop cable or get a smaller cable package. Also I would think that you could find something, McDonalds, janitor, wal-mart, something that would give a little to help out. Even if its 15-20 hrs per week that would pay maybe one bill to take the pressure off the savings.

You are not (well at least you shouldnt) keep that same lifestyle if you lost your job and you are relying on savings to pay the bills.

 

[3onpar5]

Originally Posted by bijald0331

I just don't think 50k is a reasonable figure for most people.

Im 21. Obviously, I'm still in school. I just look at my parents and how they have used their money. My Dad would probably scoff at 50k as a specific emergency fund and that's with 2 kids and a wife. It's just unreasonable for most people to me.

Like it would seriously be a real doomsday scenario to need 50k to hold you off until you got a job. I mean 18 months to find a job? Really? You're going to sit on your $%@ for 18 months and not pick up something up on the side, anything, while you continue your search? How about unemployment benefits, severance package, etc.? I just think 50k is way out there.

Again, are we talking about having your leg chopped off or something? Like that crazy? Or a Katrina-like storm running through your city?

50k is so much money when you don't have a job. You wouldn't be living your normal lifestyle if you lost a nice job. I wouldn't be.

I agree with this. 50K is alot for an emergency fund. You have to realize that if you get in a tough spot you would drop some of the luxuries that you have.

For instance if your total bills are 2,500 per month, that 50K lasts you 20 months. I would assume that you may drop that cell bill you got and get a pre-paid or you would drop cable or get a smaller cable package. Also I would think that you could find something, McDonalds, janitor, wal-mart, something that would give a little to help out. Even if its 15-20 hrs per week that would pay maybe one bill to take the pressure off the savings.

You are not (well at least you shouldnt) keep that same lifestyle if you lost your job and you are relying on savings to pay the bills.

 

[kn0wledgeable]

Dudes got their priorities all messed up in this thread. But hey if you can afford it then go ahead. I have a used car. I was thinking of financing a car but when it came down to it, I am not going to pay 300+ a month for a car that is depreciating. I can tell some people want to look "representable" or copped their whip for the "image".

Unless I'm ridiculously balling, making 200,000 a year, I wouldn't drop 20+ g's. Not worth it at the end of the day. Unless you're buying some crazy !@%!

 

[kn0wledgeable]

Dudes got their priorities all messed up in this thread. But hey if you can afford it then go ahead. I have a used car. I was thinking of financing a car but when it came down to it, I am not going to pay 300+ a month for a car that is depreciating. I can tell some people want to look "representable" or copped their whip for the "image".

Unless I'm ridiculously balling, making 200,000 a year, I wouldn't drop 20+ g's. Not worth it at the end of the day. Unless you're buying some crazy !@%!

 

[jthagreat]

AS far as the whole rainy day scenario, ive always read its "good" to have 6 months income stashed away. obviously the more the better.

I think 50 K sounds so unreasonable cause at this time i dont make 50k a year...but i imagine MOST would have to live like doomsday occurred already in order to save that much money (again thats coming from someone who doesnt make that kind of money)

isnt the national avg for a family only like 40K a year?

that # is just so not typical and and would be more suited for the real "ballers" of the world.

I say that cause I save a lot of money, IRA, other investments in comparison to most my age...and 50k is just unreasonable.

 

[jthagreat]

AS far as the whole rainy day scenario, ive always read its "good" to have 6 months income stashed away. obviously the more the better.

I think 50 K sounds so unreasonable cause at this time i dont make 50k a year...but i imagine MOST would have to live like doomsday occurred already in order to save that much money (again thats coming from someone who doesnt make that kind of money)

isnt the national avg for a family only like 40K a year?

that # is just so not typical and and would be more suited for the real "ballers" of the world.

I say that cause I save a lot of money, IRA, other investments in comparison to most my age...and 50k is just unreasonable.

 

[dirtylicious]

not 6 months of income... 6 to 9 months of expenses

 

[dirtylicious]

not 6 months of income... 6 to 9 months of expenses

 

[jthagreat]

Originally Posted by Dirtylicious

not 6 months of income... 6 to 9 months of expenses

i guess youre right, but your expenses really shouldnt exceed your income...right?

 

[jthagreat]

Originally Posted by Dirtylicious

not 6 months of income... 6 to 9 months of expenses

i guess youre right, but your expenses really shouldnt exceed your income...right?

 

[north dade represent]

If another person brings up the "depreciating asset" argument, I swear I'm going to blow my head off. Do you eat? Do you have gas, electric, cable and internet service? Do you travel, spend money on dates, go clubbing, etc? All those purchases aren't depreciating assets, because they're not even assets to begin with. They're worthless as soon as they are consumed. At least a car has salvage value.

Nobody says there's something wrong with spending $3500 on a trip to Paris, but if I spend $3500 in payments per year for a nice whip that I'm going to be driving every day, that's being wasteful?

!!+!%

 

[north dade represent]

If another person brings up the "depreciating asset" argument, I swear I'm going to blow my head off. Do you eat? Do you have gas, electric, cable and internet service? Do you travel, spend money on dates, go clubbing, etc? All those purchases aren't depreciating assets, because they're not even assets to begin with. They're worthless as soon as they are consumed. At least a car has salvage value.

Nobody says there's something wrong with spending $3500 on a trip to Paris, but if I spend $3500 in payments per year for a nice whip that I'm going to be driving every day, that's being wasteful?

!!+!%

 

[recycledpaper]

Originally Posted by North Dade Represent

If another person brings up the "depreciating asset" argument, I swear I'm going to blow my head off. Do you eat? Do you have gas, electric, cable and internet service? Do you travel, spend money on dates, go clubbing, etc? All those purchases aren't depreciating assets, because they're not even assets to begin with. They're worthless as soon as they are consumed. At least a car has salvage value.

Nobody says there's something wrong with spending $3500 on a trip to Paris, but if I spend $3500 in payments per year for a nice whip that I'm going to be driving every day, that's being wasteful?

!!+!%

agreed x infinity

 

[recycledpaper]

Originally Posted by North Dade Represent

If another person brings up the "depreciating asset" argument, I swear I'm going to blow my head off. Do you eat? Do you have gas, electric, cable and internet service? Do you travel, spend money on dates, go clubbing, etc? All those purchases aren't depreciating assets, because they're not even assets to begin with. They're worthless as soon as they are consumed. At least a car has salvage value.

Nobody says there's something wrong with spending $3500 on a trip to Paris, but if I spend $3500 in payments per year for a nice whip that I'm going to be driving every day, that's being wasteful?

!!+!%

agreed x infinity

 

[runningofthecarmines]

Originally Posted by North Dade Represent

If another person brings up the "depreciating asset" argument, I swear I'm going to blow my head off. Do you eat? Do you have gas, electric, cable and internet service? Do you travel, spend money on dates, go clubbing, etc? All those purchases aren't depreciating assets, because they're not even assets to begin with. They're worthless as soon as they are consumed. At least a car has salvage value.

Nobody says there's something wrong with spending $3500 on a trip to Paris, but if I spend $3500 in payments per year for a nice whip that I'm going to be driving every day, that's being wasteful?

!!+!%

 Thank you my friend.

  

 

[runningofthecarmines]

Originally Posted by North Dade Represent

If another person brings up the "depreciating asset" argument, I swear I'm going to blow my head off. Do you eat? Do you have gas, electric, cable and internet service? Do you travel, spend money on dates, go clubbing, etc? All those purchases aren't depreciating assets, because they're not even assets to begin with. They're worthless as soon as they are consumed. At least a car has salvage value.

Nobody says there's something wrong with spending $3500 on a trip to Paris, but if I spend $3500 in payments per year for a nice whip that I'm going to be driving every day, that's being wasteful?

!!+!%

 Thank you my friend.

  

 

[redman]

Originally Posted by wawaweewa

Originally Posted by bijald0331

50K for a "rainy day" fund is laughable. Just call it a "Tornado and Hurricane during an Earthquake" fund.



How is the hospital thing relevant? You really think someone who can put aside 50k wouldn't have great insurance? You're living life way too scared after one unique situation.



I mean if you are making that much money to put at least 50k away for a special emergency fund, you should have investments, entertainment expenditures that you could curb back, etc.



I don't know how you are living but 50k is completely unreasonable for 98% of the American public. You just don't need that much for an emergency for most realities. 10-20k is more reasonable to me.

See this is the problem.
Someone who makes 50k a year can easily save 50k in 5 years. Even living in NYC. I'm not speculating either.

So people who make 50k/year are now so well off to only have 10-20k in reserve? 10k won't even pay rent for a full year for a 1 bedroom in most of NYC.

Some of the diff ion thinking prob stems  from cost of living in NYC compared to other parts of the US. I'm telling you 10 or even 20k in reserve in a place like NYC will leave you naked in the middle of the street holding  your #$%! in your hand if something unforeseen happens.

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.