Car payments

Broccoli Iglesias

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Cars are not investments. They are tools and in some cases Toys. You buy the Tool/Toy you can afford and don't think about the money or... you don't. If you are thinking that this money could be better used elsewhere, it's probably a sign you shouldn't do it.
A tool or toy ... still an investment.
 

jhblaze1

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I give up..housing is too expensive, cars are too expensive...
I firmly believe most people either secretly make a shat ton of money or nobody has disposable income anymore.
most people driving expensive cars lease them. They don't admit it, but it's true.

My brother in law used to sell Benz's at Herb Chambers. He said most people are leasing their status symbolmobiles. He said way more than half the cars he "sold" were leases.

Secondly, yeah most people don't have disposable income after all the shit they buy. A lot of people making 6 figures live paycheck to paycheck. Not living within your means is the norm, sadly.
 

jhblaze1

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View attachment 382310


One of my dumbass friends sent me this screenshot last year and asked if he was "getting a good deal".

For the folks that are bad at math, thats an 82K Chevy Equinox.
what's his credit score? -850?

That interest rate can't be real....can it? I'd think most banks would refuse to finance if someone's credit is that bad.
 

Broccoli Iglesias

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I give up..housing is too expensive, cars are too expensive...
I firmly believe most people either secretly make a shat ton of money or nobody has disposable income anymore.
On top of leasing, a lot of people buy used and spend stupid money just to look like they belong in some group of people.

I have a friend that spent $30K on a used Cadillac, because he could never be seen driving a Toyota. He gave me shit when my ex bought a KIA SUV. The POS Cadillac broke at least once per month, I know because he would text me all passed off that he was waiting for the tow truck. The KIA never broke in the 5 years my ex owned it.

He finally sold it and ... bought an Explorer. He has no kids, doesn't do any manual work (his wife painted their house, he can't paint). But he wanted the Ford. Now he is complaining about the Ford, and he finally realized his car didn't have an impact on his salary.

There are millions like him.
 

moojpg2

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So...once again shopping around for a toy.
Haven’t shopped for a vehicle in 7 years as I have an 11 year old corolla that was paid off years ago.

car prices are stupid, plain and simple.
Looking in the ballpark of something I want, I’m at $40k. The payment here is roughly $700 a month.
now, this is for a used Rubicon which is hardly a rare vehicle.

so, my question is, are people really making these kind of car payments (or more) routinely without a care because it’s “normal” and I’m just cheap or am I missing something.?

from what friends tell me, I’m just cheap...😁

with that kind of monthly cash burn I would rather just hire a driver...
Don't do it. Those pieces of crap aren't worth the money. I made that mistake, bought a 2016 rubicon unlimited, paid cash, practically begged a ford ddaler to buy me out of it a year later because it had so many problems that Fiat refused to fix under warranty. It was either lose a few grand switching to a different vehicle or lose a few grand paying a lawyer to sue them.
 
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View attachment 382310


One of my dumbass friends sent me this screenshot last year and asked if he was "getting a good deal".

For the folks that are bad at math, thats an 82K Chevy Equinox.
I would have to seriously re-evaluate my friendship with someone if they were willing to sign off on an aggreement like that (without a gun to their head). I have some family members who it wouldn't surprise me if they signed off on that but no friends, thankfully.
 

Supermoto

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most people driving expensive cars lease them. They don't admit it, but it's true.

My brother in law used to sell Benz's at Herb Chambers. He said most people are leasing their status symbolmobiles. He said way more than half the cars he "sold" were leases.

Secondly, yeah most people don't have disposable income after all the shit they buy. A lot of people making 6 figures live paycheck to paycheck. Not living within your means is the norm, sadly.
Leases are the way to go with Audi/Merc/BMW. They are the kinda car you want to give back before any issues start and you get hit with major expenses.
 

kurtb

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Leases are the way to go with Audi/Merc/BMW. They are the kinda car you want to give back before any issues start and you get hit with major expenses.
German cars are great until you need to start paying for repairs.. I have had VWs and BMWs.. Mark my words - keep it too long and you will be stung!
 

jhblaze1

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Leases are the way to go with Audi/Merc/BMW. They are the kinda car you want to give back before any issues start and you get hit with major expenses.
I tend to agree on that, BUT I don't think leasing is really ever a good financial decision. They're trickier to negotiate and very easy for dealers to f*** around with the money. If you truly don't mind having a perpetual car payment and really feel like you need a brand new car every 3 years and don't put a lot of miles on then they can make sense, I guess....but only if you're not kidding yourself into thinking you're making an economically intelligent decision....if you accept you're satisfying a want not a need. You can certainly drive a much nicer car for a lot less money each month but you need to keep in mind they will come back and gouge you at lease end....turn in fee $400 lol, excessive wear fee for completely normal and expected wear and tear....typically the only way to make that BS go away is to re-up with the same brand.

My in laws have an old S class that they bought new..I think it's a 2006 and my FIL is meticulous with maintaining his cars. Still, being old, shit breaks on it every year and it never costs less than like $3000....last time is was the airmatic air bladders for like $3200 bucks. Waaaaaaaay too many electronic/tech doo dads in those cars.
 
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Rockrivr1

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Ive said it before in other car threads. Life is to short to drive a cheap crappy car. You can’t take it with you and you never know when you’re leaving this world. Because of that I enjoy life in the now. Sure I save for retirement but don’t skimp on things I want now. Enjoy the best life you can now.
 
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I give up..housing is too expensive, cars are too expensive...
I firmly believe most people either secretly make a shat ton of money or nobody has disposable income anymore.
Used Yaris. '09-'12 3 door with about 100k on it. A manual in decent shape can be had for about 5-6 grand. We just bought one for our daughter to have as runabout at school. Financed it because I earn as much interest keeping the cash on hand in my savings acount as I pay on the note from my credit union. Payment is like $165/month - 36 months. Get one, throw some R compounds, a couple bars, and some cheap coil overs on it then drive the piss out of it until the doors fall off. It's like a go-kart with a roof you can drive on the road. If you want dirt, take the money you saved, and are saving on gas, insurance, excise tax, and buy a light quad or bike, put a hitch on the Yaris, get a cheap-ass utility trailer and haul your new dirt toy to the trails.
 

Baby Billy

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Ive said it before in other car threads. Life is to short to drive a cheap crappy car. You can’t take it with you and you never know when you’re leaving this world. Because of that I enjoy life in the now. Sure I save for retirement but don’t skimp on things I want now. Enjoy the best life you can now.
There is a happy medium though. I just need my car to get me from A to B. And have enough room for my stuff. Once it becomes unreliable, and I can't get it fixed or fix it myself, I'll get another gently used one. My gf insists on leasing, but she likes driving my 2014 Ford with no payments over her $450 month Jeep. I guess it just depends on the person. 🤷
 

pastera

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Not sure if we allow Prius’s in NES..have to check the rule book....
Mods, can we get an official ruling on a Prius? ;)
I drive a plug-in Ioniq - gas saving = more ammo
I'm averaging about 1200+ miles on m a fill up (10 gallons)
 
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most people driving expensive cars lease them. They don't admit it, but it's true.

My brother in law used to sell Benz's at Herb Chambers. He said most people are leasing their status symbolmobiles. He said way more than half the cars he "sold" were leases.

Secondly, yeah most people don't have disposable income after all the shit they buy. A lot of people making 6 figures live paycheck to paycheck. Not living within your means is the norm, sadly.
Ya, I knew of leasing being the norm with higher end vehicles... the payments are still stupid...I actually almost went down that road, then I realized that I wouldn’t be able to take road trips when I wanted because I would be worried about the mileage...works for some people though..
 
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Ive said it before in other car threads. Life is to short to drive a cheap crappy car. You can’t take it with you and you never know when you’re leaving this world. Because of that I enjoy life in the now. Sure I save for retirement but don’t skimp on things I want now. Enjoy the best life you can now.
I can certainly agree with this point of view too..
 

jhblaze1

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Ya, I knew of leasing being the norm with higher end vehicles... the payments are still stupid...I actually almost went down that road, then I realized that I wouldn’t be able to take road trips when I wanted because I would be worried about the mileage...works for some people though..
Yeah I leased a Nissan Frontier about 10 years ago. Loved it but mileage was always on my mind. I got ahead of it for a while but over the life of the term I ended up back onside....it's a shitty thing to have to worry about and at 25 cents a mile it could really add up if you aren't honest with yourself upfront about your realistic mileage every year.

wanna hear stupid? My wife needed a car back in May and she hardly ever drives...groceries and hauling the kids around and shit so despite my hatred of leasing I figured we'll just lease her something to have really low payments. We ultimately got a VW Atlas bc she wanted a 3rd row SUV....but first she really really wanted a Kia Telluride [rolleyes] ....so off to Kia we went. Turns out Kia wasn't producing enough of them or were intentionally manufacturing false scarcity. EVERY Kia dealer out here in SoCal is charging $5000 to $7000 OVER sticker. None of them would budge on it. They also apparently don't lease well because the salesman told me we were looking at $800 a month to LEASE a f***ing Kia. I looked at the guy just absolutely dumbfounded and when he finally interrupted my blank stare to ask what I thought the only thing I could muster was, "did I walk in here with a sign on my back that says a**h***? Because unless i'm wearing an a**h*** sign on my back that I don't know about, you're not making any sense. For 800 a month, can you explain to me why I'm sitting at your garbage value brand plastic disposable shit can car table right now and not across the street at Range Rover?". i just heard my wife sigh and grab my arm lol

I don't think I'm welcome back at Kia of Ventura lol...
 

DarthRevan

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So...once again shopping around for a toy.
Haven’t shopped for a vehicle in 7 years as I have an 11 year old corolla that was paid off years ago.

car prices are stupid, plain and simple.
Looking in the ballpark of something I want, I’m at $40k. The payment here is roughly $700 a month.
now, this is for a used Rubicon which is hardly a rare vehicle.

so, my question is, are people really making these kind of car payments (or more) routinely without a care because it’s “normal” and I’m just cheap or am I missing something.?

from what friends tell me, I’m just cheap...😁

with that kind of monthly cash burn I would rather just hire a driver...
I've been looking at Subaru WRXs for a long time and that's about what I'd be paying if I wanted the STI I'm drooling over or I could be smart and get a regular WRX premium with the performance package.

I settled on a used Malibu lol much lower payments.
 
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Yeah I leased a Nissan Frontier about 10 years ago. Loved it but mileage was always on my mind. I got ahead of it for a while but over the life of the term I ended up back onside....it's a shitty thing to have to worry about and at 25 cents a mile it could really add up if you aren't honest with yourself upfront about your realistic mileage every year.

wanna hear stupid? My wife needed a car back in May and she hardly ever drives...groceries and hauling the kids around and shit so despite my hatred of leasing I figured we'll just lease her something to have really low payments. We ultimately got a VW Atlas bc she wanted a 3rd row SUV....but first she really really wanted a Kia Telluride [rolleyes] ....so off to Kia we went. Turns out Kia wasn't producing enough of them or were intentionally manufacturing false scarcity. EVERY Kia dealer out here in SoCal is charging $5000 to $7000 OVER sticker. None of them would budge on it. They also apparently don't lease well because the salesman told me we were looking at $800 a month to LEASE a f***ing Kia. I looked at the guy just absolutely dumbfounded and when he finally interrupted my blank stare to ask what I thought the only thing I could muster was, "did I walk in here with a sign on my back that says a**h***? Because unless i'm wearing an a**h*** sign on my back that I don't know about, you're not making any sense. For 800 a month, can you explain to me why I'm sitting at your garbage value brand plastic disposable shit can car table right now and not across the street at Range Rover?". i just heard my wife sigh and grab my arm lol

I don't think I'm welcome back at Kia of Ventura lol...
Lol..800 a month for a South Korean crap box..even with no money down 800 a month will get you into some much nicer vehicles...
 

drgrant

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Yeah I leased a Nissan Frontier about 10 years ago. Loved it but mileage was always on my mind. I got ahead of it for a while but over the life of the term I ended up back onside....it's a shitty thing to have to worry about and at 25 cents a mile it could really add up if you aren't honest with yourself upfront about your realistic mileage every year.
That's the thing, in anything other than narrow/exceptional circumstances, Leasing sucks, badly. For anyone that actually drives. Most of them have a term of like 12500 miles or some shit. That's hysterically bad. Let me put it this way about how awful that is, I have a 2nd car that's basically my FUN/weekend car. Let's say if I was leasing that car, I would STILL violate the mileage limit every year. Just on recreational driving. That's now low that number is. A lease needs to be like 14-16K to be viable, and if I get those terms they are going to rape you on the
payment. A lease is great for a local company type vehicle where they need tax write offs. Or maybe even for grandma who drives very little and is about to not drive in the
next 2-3 years. Or someone that doesn't drive and actually is in a position where they're going to want to get rid of it in 3 years or less.

wanna hear stupid? My wife needed a car back in May and she hardly ever drives...groceries and hauling the kids around and shit so despite my hatred of leasing I figured we'll just lease her something to have really low payments. We ultimately got a VW Atlas bc she wanted a 3rd row SUV....but first she really really wanted a Kia Telluride [rolleyes] ....so off to Kia we went. Turns out Kia wasn't producing enough of them or were intentionally manufacturing false scarcity. EVERY Kia dealer out here in SoCal is charging $5000 to $7000 OVER sticker. None of them would budge on it. They also apparently don't lease well because the salesman told me we were looking at $800 a month to LEASE a f***ing Kia. I looked at the guy just absolutely dumbfounded and when he finally interrupted my blank stare to ask what I thought the only thing I could muster was, "did I walk in here with a sign on my back that says a**h***? Because unless i'm wearing an a**h*** sign on my back that I don't know about, you're not making any sense. For 800 a month, can you explain to me why I'm sitting at your garbage value brand plastic disposable shit can car table right now and not across the street at Range Rover?". i just heard my wife sigh and grab my arm lol

I don't think I'm welcome back at Kia of Ventura lol...
[laugh] You have a valid point, though.

Cali is a WEIRD market for cars as a generality. Some brands you get a win (Lexus pricing is better there than anywhere in the country because of the # of dealers that fight each other
for business) for other brands though it gets very weird, very fast.
 

hpm

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I never pay cash for my cars, always finance with 0 down and put the cash into my stock trading account instead.

A few years ago I got a new 4Runner - $48K
I could have paid cash but instead financed with zero down and 2.75% APR
I still owe $26K while the car is worth about $37K.
Those $48K cash I invested and traded with are now $82,400 (thanks to Microsoft and Apple options).

So by not paying cash I ended up with $34K in profits and currently about $10K equity in the car.
I don’t care about the depreciation of my cars (which the stock profits cover anyways) as I just enjoy having new cars. My choice.
 
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We got hosed a bit on a car for my wife back in Feb of this year. got a 2016 explorer sport with 45k miles for $24k, where we got hosed was not selling her pilot that we owned outright to our mechanic for $11k and giving it to her parents for free...

We opted not to put anything down because we are a single income family and I am a small business owner so cash reserves are more important to me then having a lower payment (plus I had planned to sell her car!) I am especially glad we didn’t put $ down after everything went sideways this year.

I used to do the beater $500 cars and fix them all the time but having small kids and working full time my “free time” is better spent with them then constantly band aiding a beater
 

roccoracer

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True.
But it’s not just a Jeep question...40k is a relatively common automobile price...jeez, people dropping 50-60k on trucks has become the norm...just curious what people are car payments
I bought myself a new 2018 Toyota Tacoma TRD offroad in 2018. The used Tacomas were only a couple of thousand less than new. My payment is $611.
 

VetteGirlMA

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YES. Including a lot of people here.

Cars are a horrible investment. A depreciating asset. Those that don't understand will get mad at me for posting that.

There are 4 kinds of people:

1. Those that need the vehicle for work. No way around it.

2. Those that know its a stupid investment, but want what they want and don't give a sh*t. I respect that.

3. Those that buy for the sake of buying, are not sure if its what they want, most likely don't think of depreciation, but they will call me an a**hole for posting this.

4. Those that buy to "fit" with a group of people. The worse kind. Could be grouped together with #3. Many of these lease because they can't afford to "fit in".
5. Some of us do pretty well in life and like fast cars, expensive cars, etc. When I left college as a young engineer making pretty good money I wanted a 'cool' car so I bought a used corvette. I kept it for a little over a year and bought a used lotus esprit because I wanted it. No other reason. Today it's the viper. If anyone wants to choke on their coffee they should have been paying the excise tax on the viper the first couple of years I owned it or made the payments. One year I remember my jaw hitting the floor with a $5k excise tax bill aka the new car penalty.

I do agree that cars are a horrible investment unless one is buying an actual investment vehicle and there are many out there that are attainable but not return on investment unless it's some rare Ferrari. Hey I myself have often theorized the idea of buying a 'cool' motorcycle (ducati, mv agusta, etc) and putting it on a stand inside my house. Not even to ride but to keep as a piece of contemporary art.
 
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