Posted on 12/30/2007 9:21:09 AM PST by jeannineinsd
You have got to be kidding me.
I got suckered by that line once in the late 80's, but never again.
I refuse to discuss monthly payments with the salesmen, which does make them a little crazy. I won't use their financing, either, unless they can beat Navy Federal. So far nobody has been able to come close.
Kinda like the current mortgage “crisis” except there’s not as much money involved.
Great googly moogly, do these people never read what they are signing? Is there a generation of people who have no money sense whatsoever?
My car is paid for, and I am going to run it into the ground. People constantly buy more than they can afford...cars, houses, etc.
It takes the whole "keeping up with the Joneses" to a frightening level.
“Why do people see cars as an asset? They’re just vehicles that should serve it’s purpose.
I have a 2001 Chevy Cavalier that’s still going strong and it’s completely paid off. I’m running it into the ground until it resembles the Flintstone car.”
Uneducated, or blinded by the need for instant gratification.
I’m a car guy. I love cars, but you’re on the right track. My wife’s 2000 Voyager - paid for. My 2002 Bonneville - paid for. I have a toy, an 87 Corvette, I owe a few bucks on it, but these idiots will pay more in a year than I owe on my toy.
Cars are a liablity. Nothing about them, is an investment. Even if you have a classic car that appreciates over time, you’d be better off putting the money in a CD. You have to realize a car is a necessity, or a luxury, or a hobby, but never an investment.
“I have had an occasionally thought as to how so many people can afford such expensive vehicles”
Usually they lease them..this is the first I’ve heard of a 7 yr. upside down loan.
This is similar to giving folks money for houses they cannot afford.
The good news...there will be many gently used used vehicles being returned to the market for re-sell.
My view is that all cars eventually become crappy money pits. I get something economical, dependable and drive it until the wheels come off. In the meantime, save for the next one.
Car loans with the same creative interest.
Not even in Victorville - yet.
Another case of Americnaitisgottohaveitrightnowis
>>>I would rather drive a less expensive car that I could actually afford.
That’s what we do.
“Kinda like the current mortgage “crisis” except there’s not as much money involved.”
Might be more money involved. Smaller amounts in each instance, but lots more people doing it. Not to mention, those that bought homes expecting huge increases in equity are now using their credit cards for routine expenses.
The credit bust is 2 stage, and we haven’t had part 2 hit the fan yet.
"Do you have a job? Do you have 99 dollars? Do you want a new car? ..."
Ford F-350 turbo diesel with an extended cab,
That’s one hell of a truck, normally used for commercial or business purposes. What are they towing, Mobile Homes?
The story doesn’t give the real story . . were they buying this for business purposes?
I guess they were “unaware” that the payments went on for 7 years? Well, I guess just make them pay for 3 years and let the dealer cover the rest.
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
“To quote Dave Ramsey, “Act your Wage!” “
I love Dave Ramsey.
Last year I bought a 1996 4WD ford explorer from my cousin for $2.000.
She serviced it several times a year and it was all documented. When I got it, it had 142K miles, but the engine doesnt knock and it doesnt use any appreciable oil.
I use it for my work vehicle. It has leather seats, a great stereo and an air conditioner that will run you out of the truck on a hot summer day its so cold.
I anticipate another two years out of this vehicle, then I’ll find another.
I have a friend who just paid off a GMC Yukon full size SUV. His payments were $1k PER MONTH.
I could not conceive a car payment like that.
Buy a vehicle that retains its value over time:
_______________________________
Not me, I prefer to buy a 2-3 year old car which has depreciated a lot before I bought it. Just a lot more car for the money and someone else took the hit.
So it's the car dealer fault you were greedy and short sighted ?
Must be a liberal
Hence the saying, "Dumb as a Post."
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