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FAUXTON posted:Imagine a $581 per month car payment. You do know $523 is the average new car loan amount right? And pretty sure that includes a trade-in if one exists?
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Oct 17, 2018 20:35
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FAUXTON posted:Imagine a $581 per month car payment. In and of itself this isn't that bad of a thing. But we need more context in this case. Buy a new car at the average transaction price of nearly $37,000 and get good promotional financing at 2%. Put 10k down and finance the remaining 27k for 4 years. That results in a $585/mo payment. Of course you could also arrive at that payment by having poo poo credit and buying a new $37k car with zero down and a 7 year loan at 9%. Monthly payment by itself doesn't tell you much. But in this case I bet we all know which scenario is more likely. And whether a person is in the financial position to be buying a new car at all in the first place... different discussion entirely. Guinness fucked around with this message at 20:54 on Oct 17, 2018 |
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Oct 17, 2018 20:48
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Haha, he owns a scooter. All the danger of a motorcycle, but none of the fun or cool factor.
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Oct 17, 2018 21:05
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Christ. You don't have to 'be a good chef' to cook basic meals for yourself and not spend a grand a month on McDonalds and Subway.
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Oct 17, 2018 21:07
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I don't live beyond my means, while having definitive proof that I lives beyond his means. Plus getting like $500/mo from dad. Dude is spending around $30/day eating out. He's not even cheap eating out. God I hate people who refuse to learn how to cook. It isn't that loving hard to make some basic poo poo for 4-5 dinners a week.
Bird in a Blender fucked around with this message at 21:10 on Oct 17, 2018 |
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Oct 17, 2018 21:07
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FAUXTON posted:Imagine a $581 per month car payment. A car worth $18,000-20,000 with a 3 year loan would be about that amount. Edit: Or the more likely $35,000 car with a 6 year loan Harry fucked around with this message at 21:21 on Oct 17, 2018 |
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Oct 17, 2018 21:16
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Buying your girlfriend's brother a new xbox seems like a legit expense tho
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Oct 17, 2018 21:26
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canyoneer posted:Haha, he owns a scooter. All the danger of a motorcycle, but none of the fun or cool factor. OP disagrees quote:I bought the scooter to have fun when I didn’t have a $1000/month rent payment.
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Oct 17, 2018 21:29
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Guest2553 posted:Buying your girlfriend's brother a new xbox seems like a legit expense tho But the family is paying him back for it.
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Oct 17, 2018 21:29
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Yeah...imagine a $581 car payment. What a...bonehead. <nervous chuckle> Guest2553 posted:Buying your girlfriend's brother a new xbox seems like a legit expense tho He's getting paid back though. It is odd to outsource your child's birthday gift to your daughter's stoned-as-gently caress boyfriend who is definitely selling smack out of his Uber as a side hustle.
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Oct 17, 2018 21:30
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https://www.reddit.com/r/personalfinance/comments/9owfwn/usa_99k_debt_with_a_baby_on_the_way_need_guidance/quote:Hello PF, to get straight to the point, my spouse and I have expressed to each other that we need to take control of our finances before it gets any worse. We have a baby on the way and would like to ensure we can provide a better life for our child. It sucks that we are in this position, but at least we're on the same page about tackling our debts together. Selections from their budget and expenses: quote:Allowances
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Oct 17, 2018 21:44
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What's a reasonable gas budget? That feels...high.
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Oct 17, 2018 22:29
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Lowness 72 posted:What's a reasonable gas budget? That feels...high. Southern California.
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Oct 17, 2018 22:31
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Lowness 72 posted:What's a reasonable gas budget? That feels...high. I don't think there is any "reasonable" gas budget. It's too specific. If you're a delivery driver it's certainly a lot higher than someone who works from home. If you drive a hybrid it's probably a lot less than if you're driving a sports car. And yeah.....depends on where you live.
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Oct 17, 2018 22:32
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I wonder how well his “medical marijuana” expense correlates with his cash only totally legit 1k/week side hustle.
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Oct 17, 2018 22:34
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Dude would be the perfect candidate for a Blue Apron subscription. You can spend your stupid amount of money and learn to cook a decent meal. Then ween yourself off once you realize it’s not so hard. They make it so so easy. I get not being able to cook and I get being intimidated by it if you’ve never done it but come on.
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Oct 17, 2018 22:38
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Spokes posted:Sells drugs, calling it No way. He spends $400-600 every month on weed. No dealer is spending money on weed, they just smoke their own supply. He says he's buying 2oz of flower and a couple grams of oil each month, which is basically enough to spend every waking moment of his life getting as high as possible.
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Oct 17, 2018 22:40
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DJCobol posted:https://www.reddit.com/r/personalfinance/comments/9owfwn/usa_99k_debt_with_a_baby_on_the_way_need_guidance/
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Oct 18, 2018 00:19
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Guinness posted:In and of itself this isn't that bad of a thing. But we need more context in this case. 2% is good promotional financing? I got 0.9% and my FICO is maaaaaaaaaybe 750ish, but I wasn't imagining a $40k car with a 3-4 year term, more the $25k car with something like 5% 
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Oct 18, 2018 00:54
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Nice 0-3.0% interest rates are generally limited to dealer financing, and less common as the price climbs above $40k
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Oct 18, 2018 01:19
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PNC is 3.59% right now and that is up significantly from 12 months ago. Autos are safer collateral then housing right now.
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Oct 18, 2018 02:25
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Interest rates are only measures of comparative risk over the same term, we should compare that rate to a 5-year amortization home loan or find a rate for a 30-year car loan.
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Oct 18, 2018 02:34
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crazypeltast52 posted:30-year car loan. Where can I find this please??
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Oct 18, 2018 02:35
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Roll your car loan into a HELOC bing bang bong
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Oct 18, 2018 02:41
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GoGoGadgetChris posted:Where can I find this please?? Google gives me this, but it isn’t really a 30 year car loan unfortunately(fortunately?). 2007.txt right here: http://allfinancialmatters.com/2007/02/24/do-you-really-want-to-finance-your-car-for-30-years/ Get ready for fantastic savings with a Combo Loan from Countrywide. Want to get cash and simplify your bills? Refinance with a Combo Loan from Countrywide. Consolidate your first mortgage, your second mortgage, your car loan and all your credit cards into one easy loan with one low monthly payment. Less than perfect credit okay.
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Oct 18, 2018 02:46
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brugroffil posted:Roll your car loan into a HELOC bing bang bong gently caress yeah gimme wunner'em duramax trucks
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Oct 18, 2018 02:49
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canyoneer posted:Haha, he owns a scooter. All the danger of a motorcycle, but none of the fun or cool factor. Scooters can be very GWM, as long as you live in an area you can use them year round.
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Oct 18, 2018 10:19
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Guinness posted:In and of itself this isn't that bad of a thing. But we need more context in this case. The really sad thing is that with the average automobile transaction price moving up so much, it allows car companies that previously sold economical cars to ditch them in favor of higher margin SUVs and CUVs. Look at Ford, killing off almost all of their car lines (including the Fiesta and Focus); Look at FCA, getting rid of the (admittedly garbage) 200 and Dart while releasing several high-end Chargers and hybrid minivans. There are fewer and fewer options for those that want a new car but something economical and sensible.
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Oct 18, 2018 12:56
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CornHolio posted:The really sad thing is that with the average automobile transaction price moving up so much, it allows car companies that previously sold economical cars to ditch them in favor of higher margin SUVs and CUVs. Look at Ford, killing off almost all of their car lines (including the Fiesta and Focus); Look at FCA, getting rid of the (admittedly garbage) 200 and Dart while releasing several high-end Chargers and hybrid minivans. I wonder if Ford mostly ditching regular 4-door sedans is because the Japanese have that market on lock down. Toyota Corollas and Honda Civics are good, cheap, and reliable cars.
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Oct 18, 2018 13:02
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That was the impression I was under. Also they are "keeping" the focus, but making it a hatchback. I'm sure it's actually just gonna be a small CUV but still.
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Oct 18, 2018 13:17
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It's because no one wants sedans or small cars. If you want something diminutive and reasonable, you get a crossover. Automakers want to sell itty-bitty cars even with their tiny margins because it keeps their CAFE numbers up. Ford had every intention on keeping it's Focus in America, but they just weren't selling. There aren't enough consumers who want little cars and those that do generally get a Honda or Toyota - but those companies are selling fewer cars too.  I love a lilliputian car. Everyone else likes a big car. Krispy Wafer fucked around with this message at 13:21 on Oct 18, 2018 |
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Oct 18, 2018 13:18
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My wife and I are student loan defaulters who said "ain't gonna ever pay!" and now living life on the run. AMA!quote:Wife owes $80,000+ and rapidly growing in private student loans. After years of struggling to make minimum monthly payments of $900+, we finally came to the decision to say "No way Sallie Mae, you are never going to get another cent!".
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Oct 18, 2018 13:33
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CornHolio posted:The really sad thing is that with the average automobile transaction price moving up so much, it allows car companies that previously sold economical cars to ditch them in favor of higher margin SUVs and CUVs. Look at Ford, killing off almost all of their car lines (including the Fiesta and Focus); Look at FCA, getting rid of the (admittedly garbage) 200 and Dart while releasing several high-end Chargers and hybrid minivans. You are confusing the chicken and the egg. Small sedans are going away and cars have gotten larger and more expensive because few people want to buy tiny low trim subcompact cars. Many of these cars really only exist/existed in the United States due to federal fleet fuel economy requirements and ubiquitous availability of fuel efficient turbocharged small four-cylinder engines and hybrid drivetrains has greatly reduced this pressure.
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Oct 18, 2018 13:47
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Known Lecher posted:My wife and I are student loan defaulters who said "ain't gonna ever pay!" and now living life on the run. AMA! hey, you know what? if it works for you, it works for you.
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Oct 18, 2018 14:07
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wilderthanmild posted:That was the impression I was under. Also they are "keeping" the focus, but making it a hatchback. I'm sure it's actually just gonna be a small CUV but still. No, they were going to bring the 'Focus Active' here but the Chinese tariffs killed that and they're not going to do that anymore. Bird in a Blender posted:I wonder if Ford mostly ditching regular 4-door sedans is because the Japanese have that market on lock down. Toyota Corollas and Honda Civics are good, cheap, and reliable cars. The Focus and Cruze sell quite a bit and are competitive in their segments. They're getting dated against the newer offerings from the Japanese, but modern offerings would have pretty easily fixed that. The Accord is very good but the Corolla, Camry and Civic are all kind of okay and each have their drawbacks. BEHOLD: MY CAPE posted:You are confusing the chicken and the egg. Small sedans are going away and cars have gotten larger and more expensive because few people want to buy tiny low trim subcompact cars. Many of these cars really only exist/existed in the United States due to federal fleet fuel economy requirements and ubiquitous availability of fuel efficient turbocharged small four-cylinder engines and hybrid drivetrains has greatly reduced this pressure. But there are a significant amount of people that do want cheaper, lower trim levels and the options for them are becoming increasingly small. The lease on my wife's Focus is up and there's literally nothing in the segment she would consider replacing it with so we bought it off of the lease. I mean, we were going to do that anyway but the lack of options really sealed the deal. CornHolio fucked around with this message at 14:16 on Oct 18, 2018 |
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Oct 18, 2018 14:12
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ChickenOfTomorrow posted:hey, you know what? if it works for you, it works for you. This seems more like extremely gwm.
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Oct 18, 2018 14:18
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C'mon man post the link!
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Oct 18, 2018 14:22
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Lowness 72 posted:C'mon man post the link! You mean me? https://www.reddit.com/r/AMA/comments/5vvv48/my_wife_and_i_are_student_loan_defaulters_who/ I skimmed the comments but they weren't that interesting, a lot of handwaving from the OP when people call him out on  "but if we were going to pay, the payments are $900 a month!!" as if that's some completely unattainable magical sum of money for two college-educated adults with (apparently) no kids or other major debts to come up with, to the point that living a cash-based lifestyle like an undocumented immigrant and moving frequently for years to come is a better option. (Several people also point out that moving frequently is fairly expensive in itself...)EDIT: Also he never clarifies what kind of supposedly-useless-without-a-masters STEM degree his wife got. Porfiriato fucked around with this message at 14:53 on Oct 18, 2018 |
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Oct 18, 2018 14:45
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My friend who bought a house with her boyfriend, broke up before they closed, decided to close anyway because it was in "an up and coming neighborhood," and then had to live with the ex-boyfriend and his new girlfriend in the house they bought because neither of them could afford to move out or pay the mortgage alone has finally moved out. Her name is still on the mortgage and she pays both rent and her half of the mortgage (her rent is a good deal, though. Her friend gave her a discount). They lived together for 1 year and 3 months after they broke up. They still have no potential buyers for the house and she has sunk a substantial amount of money into adding a fence and replacing the HVAC. Her ex is unemployed and his parents are covering his part of the mortgage, but they won't do it forever. She really does not want to take a bath on this house, so both of them are considering just keeping it and paying the mortgage until the neighborhood "gets on the map." She thinks that "his parents won't really stop paying the mortgage" and that is why she is okay with keeping her name on there and waiting a few years.
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Oct 18, 2018 14:58
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CornHolio posted:But there are a significant amount of people that do want cheaper, lower trim levels and the options for them are becoming increasingly small. The lease on my wife's Focus is up and there's literally nothing in the segment she would consider replacing it with so we bought it off of the lease. I mean, we were going to do that anyway but the lack of options really sealed the deal. Crossovers have gotten cheaper so cheaper people are buying crossovers. There's still a market for small cars, it's just not enough to warrant a dozen different automakers all making their own subcompact. The irony is that Ford announced a huge company-wide shift to smaller vehicles back in 2005 or 2006 and that's one of the reasons they managed to avoid the same fate as GM and Chrysler (they also reorganized earlier and were better prepared debt-wise). Leon Trotsky 2012 posted:She really does not want to take a bath on this house, so both of them are considering just keeping it and paying the mortgage until the neighborhood "gets on the map." She thinks that "his parents won't really stop paying the mortgage" and that is why she is okay with keeping her name on there and waiting a few years. White people thinking they're getting on the ground floor of gentrifying neighborhoods can be entertaining. My brother bought a very cute 80 year old house in a terrible part of town and keeps showing me Zillow listings of its ever-increasing value. You can't walk down the street at night without passing a half dozen shirtless guys just strolling down the middle of the road and there are no restaurants or anything of interest in walking distance. The only store in a 2 mile radius has bars over every opening. "Hey, do you think I could rent this out on Air B&B to people for the Superbowl?" Sure. Sounds like a fantastic plan. Also, he's a mortuary intern and his house is decorated as such. Can't wait to see where that one goes.
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Oct 18, 2018 15:16
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