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cowofwar posted:Stop buying cars. But cars are his thing!
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Dec 27, 2016 19:33
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| # ? Jun 5, 2024 02:38 |
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Leon Trotsky 2012 posted:The BLS is out with its annual household saving statistics. The takeaway: America is BWM. In other words, millions and millions of people are spiraling into a retirement/inability to work any longer completely dependent on social security and their children/grandchildren, and millennial wage earners will be increasingly leaned on to fund the retirement of the oldest, brokest generation of retirees ever.
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Dec 27, 2016 20:27
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The people who need a new car every 2-3 years or sooner just baffle me. I realize you have a little cash in your pocket, wouldn't you rather it stay there instead of going in the loving garbage? The 2017 Sentra isn't that nice, trust me you'll survive somehow in your Camry with 30K miles.
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Dec 27, 2016 20:57
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Pryor on Fire posted:The people who need a new car every 2-3 years or sooner just baffle me. I realize you have a little cash in your pocket, wouldn't you rather it stay there instead of going in the loving garbage? The 2017 Sentra isn't that nice, trust me you'll survive somehow in your Camry with 30K miles. If it wasn't for BWM people selling two year old cars, the GWM people wouldn't be able to buy them after the depreciation hit.
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Dec 27, 2016 21:08
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Humans suck at delayed gratification, so $300/mo indefinitely doesn't sound much worse than $0/mo in a few years.
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Dec 27, 2016 21:14
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Best way to avoid car payments: get obsessed with weird cars too old to get approved for a loan on.
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Dec 27, 2016 21:30
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Droo posted:It might make sense to pay the minimum on the 0% card until the last month or two, and then do a full balance transfer onto a new or existing credit card to avoid the giant interest charge that will occur if it's not 100% paid off. I'm also considering a plan like that, pay minimum on the 0% APR lines and throw all of the money at the 13% loan for 3 or 4 months to pay that off, then burn down the 0% APR lines before their promo period is up. The biggest issue with that is that it requires being disciplined and GWM and if I was either of those things I wouldn't have any of this debt.
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Dec 27, 2016 21:32
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Yeah I love cars too, so I drive a 13 year old miata which cost me $40 in unplanned maintenance over 5 years. $30k is hardly expensive for a new car but the guy clearly can't afford it and it's incompatible with his goals. E: I haven't read the whole thread, where does the title quote come from?
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Dec 27, 2016 21:38
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Pryor on Fire posted:The people who need a new car every 2-3 years or sooner just baffle me. I realize you have a little cash in your pocket, wouldn't you rather it stay there instead of going in the loving garbage? The 2017 Sentra isn't that nice, trust me you'll survive somehow in your Camry with 30K miles. Incidentally, my own mother has been nagging on about replacing my '08 Kia Rio for quite some time. When I asked why I needed to replace my completely functional car, she mutters on about "advanced technology" in the newer models. She never explains precisely what said technology does, or why I should shell out $15K to experience it.
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Dec 27, 2016 21:42
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Everyone buys stuff to fill holes of sadness in their brains. Some people are GWM and buy inexpensive things, some people are BWM and buy expensive things. In both cases the hormone induced euphoria is fleeting and they are soon looking for the next thing to buy.
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Dec 27, 2016 21:48
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Sic Semper Goon posted:Incidentally, my own mother has been nagging on about replacing my '08 Kia Rio for quite some time. It can be worth at least checking the crash test ratings. http://www.iihs.org/iihs/ratings/vehicle/v/kia/rio-4-door-sedan/2008
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Dec 27, 2016 21:53
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captkirk posted:I'm also considering a plan like that, pay minimum on the 0% APR lines and throw all of the money at the 13% loan for 3 or 4 months to pay that off, then burn down the 0% APR lines before their promo period is up. The biggest issue with that is that it requires being disciplined and GWM and if I was either of those things I wouldn't have any of this debt. You don't have to pay off the debt entirely to avoid the penalty, you can do a balance transfer from the penalty card to your current card and that will accomplish the same thing. Some people do it this way with new 0% credit card offers to basically string them along, but that is risky because you might not be able to get a new card when you need one depending on your situation. However, if you have a current card in good standing that allows balance transfers (I think typically they allow them for a 3% one time fee), it will still work to your advantage even though as soon as you do the balance transfer, you start paying the 13% rate on your existing card on that debt.
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Dec 27, 2016 21:54
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monster on a stick posted:It can be worth at least checking the crash test ratings. Yeah, can't begrudge someone getting newer cars every 5 years or so just from advances in crash protection. Cars even 5 years old don't have good small-offset crash ratings, which is a likely crash scenario that wasn't tested for back then.
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Dec 27, 2016 22:05
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monster on a stick posted:It can be worth at least checking the crash test ratings. Dying instead of going to the hospital is GWM.
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Dec 27, 2016 22:20
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kimbo305 posted:Yeah, can't begrudge someone getting newer cars every 5 years or so just from advances in crash protection. Cars even 5 years old don't have good small-offset crash ratings, which is a likely crash scenario that wasn't tested for back then. That's the thing that has me thinking of getting a new car; I do the "buy new and drive into the ground" strategy but that doesn't work so well with reliable Japanese cars that never die. Maybe I'll wait for AI-driven electric flying cars which should happen next year according to Elon Musk.
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Dec 27, 2016 22:34
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cowofwar posted:Everyone buys stuff to fill holes of sadness in their brains. Some people are GWM and buy inexpensive things, some people are BWM and buy expensive things. In both cases the hormone induced euphoria is fleeting and they are soon looking for the next thing to buy. My childhood was not fun so I buy LEGO fully realizing I'm probably broken somehow and spending too much money on plastic bits. It's relaxing though when they snap together I tell you what.
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Dec 27, 2016 22:37
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Roylicious posted:My childhood was not fun so I buy LEGO fully realizing I'm probably broken somehow and spending too much money on plastic bits. Used to work with a guy that had ~$40k tied up in bricks. He made backlit translucent paintings with them or something wild like that. He was showing them at Brickmania, which is an url you probably shouldn't click on if you like tanks, jeeps or aircraft and having money.
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Dec 28, 2016 01:09
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quote:I have zero debt other than a car payment and old mortgage on a condo quote:My biggest debt is $29k for my car. I know I know. But cars are my thing. They're my hobby. They're my life. Is it more than I can afford? No. Is it expensive and stupid to some? Yes. Car is financed for 2.49%, I can go to my credit union and get it refinanced for 1.49% which I plan to do this month. What do these people think "no debt" means?
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Dec 28, 2016 01:09
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Switchback posted:What do these people think "no debt" means? Good person.
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Dec 28, 2016 01:12
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Lots of people seem to think that the only "debt" that counts is credit card debt, because that's clearly bad debt while other debt is good debt. I'm 90% sure this is due to some bullshit marketing campaign but I must have missed it.
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Dec 28, 2016 01:18
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mobby_6kl posted:Yeah I love cars too, so I drive a 13 year old miata which cost me $40 in unplanned maintenance over 5 years. $30k is hardly expensive for a new car but the guy clearly can't afford it and it's incompatible with his goals. Ok but what do you consider "unplanned maintenance" because some cars need a full engine overhaul at like 100,000 but that's planned so it's okay
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Dec 28, 2016 01:44
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Yeah Miatas are just like Ferraris when it comes to planned maintenance
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Dec 28, 2016 02:29
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22 Eargesplitten posted:Best way to avoid car payments: get obsessed with weird cars too old to get approved for a loan on. VW Thing for life!!!
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Dec 28, 2016 03:55
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mobby_6kl posted:Yeah I love cars too, so I drive a 13 year old miata which cost me $40 in unplanned maintenance over 5 years. $30k is hardly expensive for a new car but the guy clearly can't afford it and it's incompatible with his goals. I'm the car guy who's been driving the 1985.5 (the half year matters) Porsche 944 that he paid $1000 for and put another $3k into over the course of the last 6 years (the overwhelming portion in the first year to get thing back up to snuff). The only thing not included in that figure is fuel. So what kind of car guy are you when you say you need to spend $$,$$$$ to have fun? Learn how to turn a wrench. It's very satisfying because it makes it "your car."
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Dec 28, 2016 03:56
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Motronic posted:I'm the car guy who's been driving the 1985.5 (the half year matters) Porsche 944 that he paid $1000 for and put another $3k into over the course of the last 6 years (the overwhelming portion in the first year to get thing back up to snuff). The only thing not included in that figure is fuel. melon cat fucked around with this message at 04:51 on Dec 28, 2016 |
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Dec 28, 2016 04:45
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kimbo305 posted:Yeah, can't begrudge someone getting newer cars every 5 years or so just from advances in crash protection. Cars even 5 years old don't have good small-offset crash ratings, which is a likely crash scenario that wasn't tested for back then. Went looking for my 2013 car safety rating and couldn't find anything on it... should I be worried?
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Dec 28, 2016 05:39
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Suspicious Lump posted:What is "small-offset crash"? http://www.iihs.org/iihs/ratings/ratings-info/frontal-crash-tests quote:Small overlap frontal test This has a video of a Honda Pilot doing a small overlap frontal crash test to see why they test for it: https://www.youtube.com/watch?v=uMtOcKK6I4o (and that was rated "good"  )
monster on a stick fucked around with this message at 06:11 on Dec 28, 2016 |
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Dec 28, 2016 06:07
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I'd be willing to go into BWM territory to get a new car with all the modern safety features.
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Dec 28, 2016 07:45
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I read somewhere that modern traction control is expected to reduce serious crashes by 35% (which is why it was made mandatory so quickly) I mean that's just amazing to me, there's tens of thousands of traffic fatalities every year just in the US and that will literally save 10,000+ lives a year
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Dec 28, 2016 07:56
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ate all the Oreos posted:Ok but what do you consider "unplanned maintenance" because some cars need a full engine overhaul at like 100,000 but that's planned so it's okay Anything that's not on the maintenance schedule, which, sine it's not a Ferrari, doesn't include engine rebuild at any point:  In my case it was a lovely Mitsubishi camshaft position sensor. I'll be up for a timing belt change soon but it basically paid for itself by taking it on some work trips. Anyway this is getting way offtopic, the point was that "I'm a car guy" is a lovely excuse for getting $30k in debt for a car you can't afford.
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Dec 28, 2016 10:53
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You guys have very strong opinions on other people's hobbies.
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Dec 28, 2016 13:15
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mobby_6kl posted:Anything that's not on the maintenance schedule, which, sine it's not a Ferrari, doesn't include engine rebuild at any point: Yeah okay, I was legitimately wondering since so far I have only owned a new car and a hand-me-down from my mom that had 180,000 miles on it and was basically falling apart near the end, culminating in me starting it one day and it spraying a gasoline fountain all over the place that luckily someone saw before I started driving and immolated myself. Residency Evil posted:You guys have very strong opinions on other people's hobbies. This sounds like something a car person would say... GET EM' BOYS
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Dec 28, 2016 15:35
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ate all the Oreos posted:I read somewhere that modern traction control is expected to reduce serious crashes by 35% (which is why it was made mandatory so quickly) Kind of off topic, but not really - for my wife's birthday I bought her 90 minutes at the Porsche Driving Experience. One of the obstacles on their test track kicks out your rear wheels creating a spin. First you drive over it with traction control on and it's not so bad. Kind of scary, but nothing a good driver can't handle. Next, without traction control where your car immediately goes into multiple spins as you helplessly try to control it. I watched a dozen driving enthusiasts try it and everyone of them spun out. Traction control is awesome. I just wish I knew when it was working. It's not like you're looking at your dash instruments when you are in a situation where TC is needed. A little beep or something would be nice to let me know technology has once again saved my rear end.
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Dec 28, 2016 16:04
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Krispy Kareem posted:Kind of off topic, but not really - for my wife's birthday I bought her 90 minutes at the Porsche Driving Experience. One of the obstacles on their test track kicks out your rear wheels creating a spin. First you drive over it with traction control on and it's not so bad. Kind of scary, but nothing a good driver can't handle. Next, without traction control where your car immediately goes into multiple spins as you helplessly try to control it. I watched a dozen driving enthusiasts try it and everyone of them spun out. Yeah one of the things that's so cool about it is that it catches and corrects tons of slips before a person could even detect a slip was happening at all. I wonder if that poo poo is reported in the ODBCII port that'd be neat to chart...
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Dec 28, 2016 16:09
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Switchback posted:What do these people think "no debt" means? I've never really thought about this - if you have, say a $150k mortgage on a $200k house, do you have a net asset? Or is it two separate things - a $150k debt (which is 100% for sure) and a probable $200k asset (depending on what it would actually sell for)? If it's the former I could see how people wouldn't necessarily think of a mortgage as debt, even if it's just creative accounting.
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Dec 28, 2016 16:33
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Barry posted:I've never really thought about this - if you have, say a $150k mortgage on a $200k house, do you have a net asset? Or is it two separate things - a $150k debt (which is 100% for sure) and a probable $200k asset (depending on what it would actually sell for)? If you live in it, it isn't an asset.
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Dec 28, 2016 16:37
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Solice Kirsk posted:If you live in it, it isn't an asset. Tell that to the mortgage agent in 2005 when I was refinancing my house. I had so many assets I didn't even know I had.
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Dec 28, 2016 16:39
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Solice Kirsk posted:If you live in it, it isn't an asset. Isn't it an asset simply if you can sell it?
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Dec 28, 2016 16:41
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Solice Kirsk posted:If you live in it, it isn't an asset. By that logic, is it also not a debt?
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Dec 28, 2016 16:58
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| # ? Jun 5, 2024 02:38 |
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Car derail is about 3rd place in the ranking of my favorite derails. THAT BEING SAID... Being bad with money regarding cars is one of the easiest ways to be bad with money. It's fine if you don't own any tools and never do any work on your own car, but it pays to have a basic understanding of how cars work and at least try to take care of the one you own. I'm still amazed at how many people don't understand basic poo poo like the fact that their car has a maintenance schedule. They just get an oil change every once in a while, then wonder why they have some massive repair bill when something significant on their car breaks. Then when something goes wrong they just wander in to whatever dealer or shop they find first and open their wallets up without asking questions... Making smart $$ choices with cars is a great way to be GWM.
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Dec 28, 2016 17:08
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