Posted on 02/26/2023 2:25:29 PM PST by RomanSoldier19
“PLEASE!! Show me where I too can buy three new cars with a $10,000 COVID payment from Uncle Sugar.”
I have no idea what the overall financial situation was. As you point out just $10,000 wouldn’t do the trick. The problem I noticed with the free money was that people get free money and act as if it will never end. Since the Covid money stopped I’ve had to wait up to two weeks to get her final rent payment for that month.
In 40 years of marriage, we’ve bought three new cars, all the rest were used. We get them with low miles, normally under 20,000. We let somebody else take the 25% hit when they drive it off the lot. We always make sure we have the fully warranty, too. It’s worked well for us.
My last used car was a 2014 Ford Expedition we bought in 2016. I got the last model year that had a V8 engine. Many model years of Expedition experienced no recalls (2010-11 and 2013-17), something which is very unusual. Unfortunately, the Ford 5.4-liter Triton V8 has a habit of spitting spark plugs out.
She split it into down payments. Here in Chicago, places will hand you a car with junk credit and $1000. Interest rates are through the roof and your payments are high each month, but that’s not their problem - it’s yours.
You know, there are still cars that can be bought for 20-25K new. They are really nice cars too. Get a base CX-30, Versa, or Corolla not a loaded F-150, save 45K. The only way you’d make a $1000 a month payment on those is you have a 20 month loan.
Yes, it is really that simple.
Yeah I was gonna do that.
Auto dealer hooked me up with manufacturer. Got it for less than the dealership was going to charge to remove it.
Thanks
I hope so. I NEED a Knight XV real bad
Perhaps if people didn’t buy ginormous trucks that require 3 parking spaces to park. Maybe if people learn to work in their cars. I currently have 2, one is a 2001 SUV that gets battered that I bought in 2006, and a 1966 toyota landcruuser that I bought in 1996. They both get used and beaten and maintained and run quite well
I haven’t had a car payment since 1990.
I do not buy brand new cars. I always go for cars that are at least a few years old. My newest car right now is a 2007.
I own 8 cars, so none gets driven a lot.
(Don’t become influenced by the influencers.)
Absolutely some of the best advice these days. I say the same thing though not so eloquently.
I’m more like: “Stop listening to these idiots that you don’t know personally!”
Every vehicle that I have purchased over the past 25 years has been used and for cash. The last new vehicle I ever purchased was a 1996 Ford F150. I drove it for over 20 years until.the engine finally went out at close to 250,000 miles.
The dealers don't care. Once you have the loan, you're the loan company's problem.
Me.
J/K
Awesome movie. You that John Wayne is a …
hold up... theres another thread popping up that 72% of Gen X-ers net worths are 75 to 450K on average... so how can this possibly be??
180,000 in two years. Then I moved up to aircraft, which present a whole new set of transportation write-offs. Never did such a stupid thing again. We all learn.
I had the good sense to buy a double wide in 2016 with the payment and escrow being around 520-600 monthly. My wife had to fight for her disability for 1.5 years and we had to surrender two vehicles that totaled 950 monthly, cashed out my retirement to buy a vehicle. now we have taken the payments over for our son’s Kia and then my 28 yo truck laid down and with my credit I am paying 16% interest on a 12k Xterra. 373 a month. One dealer was willing to put me into a tiny SUV for 600 a month and I told them to fly a kite, but no doubt if I got a tax return I could easily get a 1000 loan on a used 4x4 pickup if I was that stupid.
You’re smart.
My Dad use to tell me never go beyond 48 months on a car note and never buy a
coupe when you can get a sedan. Also never ever lease a car.
(Aircraft yes. Car financing, NO!)
Banks really thought people would keep making $1,000 payments...
bkmk
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