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Boris Galerkin posted:I've never bought a car before and I'm a mid twenties professional. All this cartalk sounds confusing. How would I even shop for a car anyway? I'm smart enough to understand that salesmen will keep hounding me what I want to pay per month so they can charge me up with interest vs just telling me the total cost but that's about it. I always thought cars were 30,000$+ ordeals. What are these nice 10-15000$ nice cars? My secret is buying from friends and family and giving them the KBB value  I hate cars though. If I didn't need mine to get to work, I'd sell it in instant.
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Aug 11, 2014 16:41
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Boris Galerkin posted:I've never bought a car before and I'm a mid twenties professional. All this cartalk sounds confusing. How would I even shop for a car anyway? I'm smart enough to understand that salesmen will keep hounding me what I want to pay per month so they can charge me up with interest vs just telling me the total cost but that's about it. I always thought cars were 30,000$+ ordeals. What are these nice 10-15000$ nice cars? Do you know someone who is even remotely into cars? Also, hit up car related sites like Car and Driver, Autoblog, Edmunds and so on, most are going to focus on more interesting cars then a grocery getter. If all else fails, find a price range you like, hit up some of the major manufacturers and see what is in your range, find something that looks good and do some research. I like the Ford Fusions I get as rentals when I'm on the road. Don't expect much in the 10-15 range for new though, most things in there are going to be barebones. There are some pretty major quality of life improvements on higher package ranges. If you are in a cold climate, heated seats are a life changing experience.
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Aug 11, 2014 16:57
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http://www.edmunds.com/ This has invoice amounts and an average range that car models are actually selling for in your area. The biggest trick dealerships have done is convince people that cars don't have a set value. All cars are $caramount + $profit. Maximize this by finidng out what the $caramount is and let them all fight over the $profit. For my current car, I emailed, I think, eight dealerships and basically had them fight each other to get the lowest price. Eventually it came down to who would give me free oil changes and extras, as you learn real quick where the price floor is. I don't even like talking to a sales person, just give me my car.
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Aug 11, 2014 17:02
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LorneReams posted:I think he's saying 100K as the minimum to expect conservativly...at least that's how I read it. Yeah, the thing is, that number is 20 or 30 years out of date even for a conservative expectation. I had an Escort built in 1986 that was shot at 100k (although the engine still ran); a late model Civic with 100k that has had the oil changed with any regularity is basically indistinguishable from a new car and probably has more life left than a new car did in the early 80s. I have an early 90s Alfa Romeo with over 200k miles and no major work - that was the exception then but is the normal case now (maybe not for an Alfa).
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Aug 11, 2014 17:10
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It's a bit weird to me how doing anything but buying a used car is financially irresponsible, but someone buying anything but a well-below-median price home is normal in BFC. I guess new cars bad, granite countertops good.
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Aug 11, 2014 17:26
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It's almost like BFC is an echo chamber, it's crazy!
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Aug 11, 2014 17:29
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A lot of the people asking advice in BFC have money problems or a bunch of consumer/student debt. That's why a reliable used car (or no car) is recommended. Buying a new car when you earn $25k/yr is stupid. Buying a new car is not necessarily stupid when you have no consumer debt, are maxing out tax advantaged retirement accounts, live beneath your means, and can put down a fat down payment.
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Aug 11, 2014 17:41
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Yeah, I had that same situation - maxing Roth IRA and my Designated Roth Account, no consumer debt, and was still told how stupid I was for getting a new car. The new car bugaboo is frankly loving weird compared to the silence about mortgage and private student debt.
Radbot fucked around with this message at 17:52 on Aug 11, 2014 |
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Aug 11, 2014 17:45
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Radbot posted:Yeah, I had that same situation - maxing Roth IRA and my Designated Roth Account, no consumer debt, and was still told how stupid I was for getting a new car. The new car bugaboo is frankly loving weird compared to the silence about mortgage and private student debt. Silence about mortgages? Did you miss the DO NEVER BUY sentiment of the housing thread?
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Aug 11, 2014 18:01
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Or the "are you sure you want to get a master's?" that comes up every week or so? The no new car ever thing is slowly changing too, with the market being the way it is and the rates the way they are, new cars are starting to make some sense.
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Aug 11, 2014 18:03
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Radbot posted:Yeah, I had that same situation - maxing Roth IRA and my Designated Roth Account, no consumer debt, and was still told how stupid I was for getting a new car. The new car bugaboo is frankly loving weird compared to the silence about mortgage and private student debt. A lot of people just don't like cars or driving, so they see any money above the minimum as wasted. I can understand that, there are many places in this country where owning a car is a huge albatross and driving is painful. I don't live in those places, so I have a car that I love to drive and its been one of the best purchases I've ever made.
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Aug 11, 2014 18:06
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Boris Galerkin posted:I've never bought a car before and I'm a mid twenties professional. All this cartalk sounds confusing. How would I even shop for a car anyway? I'm smart enough to understand that salesmen will keep hounding me what I want to pay per month so they can charge me up with interest vs just telling me the total cost but that's about it. I always thought cars were 30,000$+ ordeals. What are these nice 10-15000$ nice cars? Go here my child: http://forums.somethingawful.com/showthread.php?threadid=3213538
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Aug 11, 2014 18:15
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FrozenVent posted:Or the "are you sure you want to get a master's?" that comes up every week or so? The used car market is absolutely hosed right now. The days where one year out meant a 20% drop in value are over - those cars are hanging only a few % below MSRP or even at par depending on the model. Even a ten year old car can keep its value pretty amazingly well, which I suppose is good for the original buyer but awful for anyone who's looking for a cheap vehicle. You can't even buy beaters for cheap anymore.
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Aug 11, 2014 20:33
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Shipon posted:The used car market is absolutely hosed right now. The days where one year out meant a 20% drop in value are over - those cars are hanging only a few % below MSRP or even at par depending on the model. Even a ten year old car can keep its value pretty amazingly well, which I suppose is good for the original buyer but awful for anyone who's looking for a cheap vehicle. You can't even buy beaters for cheap anymore. "Cheap" has just adjusted with inflation. You can get a very reliable car for $2000-$3000 nowadays. It does take time to find the right one, just like it always has.
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Aug 11, 2014 20:35
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Shipon posted:The used car market is absolutely hosed right now. The days where one year out meant a 20% drop in value are over - those cars are hanging only a few % below MSRP or even at par depending on the model. Even a ten year old car can keep its value pretty amazingly well, which I suppose is good for the original buyer but awful for anyone who's looking for a cheap vehicle. You can't even buy beaters for cheap anymore. The fact that everyone harped on how much more reasonable it was to buy used cars suggests to me that was hosed before, and is now unfucked. It never did make any sense that cars would lose so much value by being driven off the lot and so the market correction makes sense.
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Aug 11, 2014 20:35
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Nocheez posted:"Cheap" has just adjusted with inflation. You can get a very reliable car for $2000-$3000 nowadays. It does take time to find the right one, just like it always has. My first car was a '97 Geo Prism that was used as a grocery wagon for some old lady once a week. Had <50k miles on it. Paid $2k I loving loved that car to death and I was so heartbroken when I wrecked it. I still haven't forgiven myself. ...I don't know how that's relevant to the thread, I just wanted to say how much I loved that car.
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Aug 11, 2014 20:37
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Renegret posted:My first car was a '97 Geo Prism Troll account spotted!
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Aug 11, 2014 20:48
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Grumpwagon posted:Troll account spotted! The Geo Prizm was the same car as the Toyota Corolla. They could be had for a discount under the price of the Corolla due to having a Geo (then Chevy) badge. They were mechanically identical, and were some of the best cars ever built. Read up on the history of the NUMMI plant in California if you want to know more. It's an interesting story.
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Aug 11, 2014 20:57
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Grumpwagon posted:Troll account spotted! It was my first car, okay. We all have a special place in our hearts for our first car. Even if that first car turned and accelerated like a whale  e: Nocheez posted:The Geo Prizm was the same car as the Toyota Corolla. They could be had for a discount under the price of the Corolla due to having a Geo (then Chevy) badge. They were mechanically identical, and were some of the best cars ever built. Read up on the history of the NUMMI plant in California if you want to know more. It's an interesting story. Yeah I learned how to drive in a older Corolla. I did a double take the first time I got into the prism. Completely identical interior.
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Aug 11, 2014 20:58
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Renegret posted:My first car was a '97 Geo Prism that was used as a grocery wagon for some old lady once a week. Had <50k miles on it. Paid $2k My wife still drives her '97 Prism that she got new as a teenager. 200k+ miles and still going strong. We've been discussing replacement options since it hit 150k, but decided to ride it out until something expensive breaks.
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Aug 11, 2014 21:30
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Engineer Lenk posted:My wife still drives her '97 Prism that she got new as a teenager. 200k+ miles and still going strong. We've been discussing replacement options since it hit 150k, but decided to ride it out until something expensive breaks. If you like your Prizm, look into a Matrix/Vibe. Same basic design, but better laid out and lots of interior space!
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Aug 11, 2014 21:32
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Nocheez posted:If you like your Prizm, look into a Matrix/Vibe. Same basic design, but better laid out and lots of interior space! The letters all fell off like 6 years ago. Current plan is to replace with a Forester - the Prizm has caused a number of road hikes to trailheads because of limited clearance. E: In the bad-with-money front, I'm shelling out for an MRI on my dog to pinpoint his gait disturbance. Engineer Lenk fucked around with this message at 21:48 on Aug 11, 2014 |
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Aug 11, 2014 21:46
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Engineer Lenk posted:E: In the bad-with-money front, I'm shelling out for an MRI on my dog to pinpoint his gait disturbance. In the bad with money front, I straight up forgot that I have co-insurance that only covers 80% of medical expenses when I had a "just in case" ultrasound a few weeks ago. Bill arrived in the mail today! Good thing it's only $100. I offset my irresponsibility with money by living so far below my means I can shrug my shoulders at unexpected expenses. Nocheez posted:Prizm Alright look I'm easily confused by spell check 
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Aug 12, 2014 00:03
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Nocheez posted:The Geo Prizm was the same car as the Toyota Corolla. They could be had for a discount under the price of the Corolla due to having a Geo (then Chevy) badge. They were mechanically identical, and were some of the best cars ever built. Read up on the history of the NUMMI plant in California if you want to know more. It's an interesting story. I was at work and wasn't reading closely. I saw Geo and assumed Metro. The Prizm is a fine car and I retract my statement.
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Aug 12, 2014 01:05
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Boris Galerkin posted:I've never bought a car before and I'm a mid twenties professional. All this cartalk sounds confusing. How would I even shop for a car anyway? I'm smart enough to understand that salesmen will keep hounding me what I want to pay per month so they can charge me up with interest vs just telling me the total cost but that's about it. I always thought cars were 30,000$+ ordeals. What are these nice 10-15000$ nice cars? I got a brand spankin' new Honda Fit for under 18K and it's bright teal.  No regrets on that purchase. Gonna pay it off and drive it until the end of time (or realistically 10-12 years).
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Aug 12, 2014 02:09
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https://www.youtube.com/watch?v=PDylgzybWAw Relevant but very depressing to watch.
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Aug 12, 2014 03:55
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Bad with money can be buying a used car. When I was looking around you could buy an off-lease or a couple year old certified used car from dealers for only a couple grand less than the new model. You can save money buying a five or more year old car with a good history but if you want something more recent you should go new.
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Aug 12, 2014 05:32
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Radbot posted:It's a bit weird to me how doing anything but buying a used car is financially irresponsible, but someone buying anything but a well-below-median price home is normal in BFC. I guess new cars bad, granite countertops good. When I bought my Corolla in 05 it was $15k for a new one, or like $12k for something 3 years old with 30,000 miles on it. Just typing that out I'm realizing that was almost 10 years ago though, ahhhhh
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Aug 12, 2014 12:56
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blugu64 posted:How else am I supposed to get all the farm work done? As somebody who just bought a farm, this is the only acceptable reason.
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Aug 12, 2014 14:32
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Strong Sauce posted:https://www.youtube.com/watch?v=PDylgzybWAw when the anarchists here in Seattle were making a mission to break windows at chase bank every week, I was always amazed that the payday place right down the street was 100% untouched. Chase is the bigger evil to the world but if you are into local, direct action, then get a sense of scale to your strategy.
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Aug 12, 2014 14:56
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OneWhoKnows posted:As somebody who just bought a farm, this is the only acceptable reason. I'm pretty sure you are now BFC qualified to buy a truck. Maybe.
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Aug 12, 2014 15:10
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Folly posted:I'm pretty sure you are now BFC qualified to buy a truck. Maybe.
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Aug 12, 2014 15:20
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SiGmA_X posted:And a couple tractors.   $0 down! Bad credit, no credit? No problem, everyone qualifies!
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Aug 12, 2014 15:43
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SpelledBackwards posted:
You forgot "Your job is your credit!"
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Aug 12, 2014 16:35
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Strong Sauce posted:https://www.youtube.com/watch?v=PDylgzybWAw My 'favorite' one of these was Western Sky. Look at this smug bitch: https://www.youtube.com/watch?v=O46NVFBCHTU "Yes, the money's expensive". As in $5000 at 117% APR with a 5.25-year term. Sweet baby jesus. (Repayment amount almost $41K).
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Aug 12, 2014 16:43
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If you buy a tractor don't buy a Deere.
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Aug 12, 2014 16:55
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KYOON GRIFFEY JR posted:If you buy a tractor don't buy a Deere. Blasphemy, you probably support that commie colored International don't you  *dons Pioneer hat, kicks dirt at anyone wearing FS*
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Aug 12, 2014 17:33
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Bisty Q. posted:"Yes, the money's expensive". As in $5000 at 117% APR with a 5.25-year term. Sweet baby jesus. (Repayment amount almost $41K). Apparently New York State filed suit against these guys, and in it there was a claim they could charge as high as 355%. At that point, you're probably better off just dealing with the mob.
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Aug 12, 2014 18:21
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Short but sweet: If a house is assessed at $100,000 and you buy it at auction for $70,000, would the bank consider that 30% down? http://www.reddit.com/r/personalfinance/comments/2dcuxz/if_a_house_is_assessed_at_100000_and_you_buy_it/ ...if you have to ask that question, you're probably not ready to buy a house.
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Aug 12, 2014 19:46
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Renegret posted:Short but sweet: LOL, the sale price is ALWAYS the value. In fact, if I bought the house for $70K, I would have the assesment lowered.
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Aug 12, 2014 19:58
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