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Buying a BRAND NEW automobile without having the rest of your wealth strategy figured out, in progress, or otherwise at the point you could retire tomorrow, is foolish at best
Buying a BRAND NEW automobile without having the rest of your wealth strategy figured out, in progress, or otherwise at the point you could retire tomorrow, is foolish at best.
You are taking a direct fucking hit with the depreciation. These stupid things ARE NOT investments for the most part, with 99% of them going only down in value.
Yeah, you may get lucky and not have ANY repairs over the time you own the car, but the previous mentioned costs plus depreciation will likely cost much more than repair costs on comparable used auto.
These stupid things ARE NOT investments for the most part, with 99% of them going only down in value.
No no no, you're both wrong. IT's the 8 years of Obama that made cars so fricken expensive. Duh ?
"Easy credit and longer repayment terms have coaxed many consumers into buying more car than they can really afford," said Ed Mierzwinski, U.S. PIRG's senior director for consumer programs, in an email. "It's even worse for those who have been subjected to deceptive and predatory lending practices at auto dealers."
Yeah, I'm actively searching Craigslist for a new used car lately. I don't want to have to drive my next car for 17 years to make the numbers work out haha...
Actually I'm thinking of picking up another Accord coupe V6 which they quit making after 2016. Maybe hold it 6-7 years and then buy an electric after I own a house.
Do right-wingers see everything through a Trump lens?
you are the real reason ICE sedans are dying.
A lot of ppl are waiting for EV prices to fall so they can buy in.
By the way. They made the 'prototype' AFTER they built out the manufacturing line. It's basically ready to go and will be selling in 2019.
* it is illegal to buy a car directly from the manufacturer, just because dealers have enough clout to corrupt our laws like so many industries do
just_dregalicious saysBy the way. They made the 'prototype' AFTER they built out the manufacturing line. It's basically ready to go and will be selling in 2019.
Once Japanese get into the car game, everyone will have to play catch up. They know how to make cheap and reliable.
Fucking killed our unionized and outdated auto industry back in the 80's
So the guy is telling his Customers, why Leases have gone way up and not much difference than a Finance payment Less than a $100 difference in most cases not $300 and $400 difference.
Yesterday I put in a full day's work buying two cars.
Still, parents such as DeLozier who have paid for countless repairs, replacements and vehicles outright don't feel the options are as efficient as stepping in themselves.
"No one has a gun to our heads," he said. "I can tell my daughter, 'You have to make a two-hour bus commute into Cleveland every day to go work at the hospital.' I suppose I could tell her that.
"You want your children to succeed, so you basically say, what am I capable of doing for them?"
So why didn't she buy it instead of lease it and build up equity instead of just throwing the lease payments away, just like rent? She'll have nothing to show for all the money she spent when the lease ends. Bad choice.
Best just to go to car dealerships with loan already. I hate when dealerships talk in terms of payments instead of total amount its such a bullshit game.
What's the point of a camaro with anything less than V8, also do they still make them in manual?
Best defense against this is what you did, get your own CR. But even better than that is to actually apply for the loan in person at our local bank. They’ll approve you and tell you the rate. Then you take that letter to the dealership and present it when you find a car you want to buy. That gives them no wiggle room to lie to you and you get the best financing possible.
I know about this because I sold cars for a minute back in my early 20s.
I do have a 875 credit score.
Tenpoundbass saysI do have a 875 credit score.
How? I thought it only went to 850?
I'm sorry I meant 775.
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And it's EASY to get these cars well over $40-45k without even trying.
I've been reading on the joys of sub prime auto lending lately, but am wondering when the music is going to stop - and people quit financing cars for 7+ years.
I pay cash for my whips.