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GoGoGadgetChris posted:Do Uber drivers have any control over the fares they accept or reject? I regularly take a 40 minute, $30 Uber to a casino around here and can't help but wonder WHY they would accept that route. Somewhat, this would have been a good fare for the class I was taking (regular) , but the higher classes (xl, premium) can accept the lower rate fares if they choose to.
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Jan 22, 2019 01:01
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BonerGhost posted:Option 1 will not work. When the bank asks him what he wants the loan for and he says "car", they will stop considering him for a personal loan and review him for an auto loan, and I would be shocked if they give him enough to cover the negative equity (if anything). The other option, of course, is to lie, which would be even more BWM when that implodes and the best case scenario is that they accelerate the loan. Lol, no. We write loans for this situation fairly frequently. You get the unsecured rate and better have a risk profile that allows for an unsecured loan, but it gets done. Nobody much gives a drat if you lie about the purpose of an unsecured loan as long as you don't use it for an illegal purpose. When I had a portfolio I just assumed people wanted cash to blow and worked from there.
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Jan 22, 2019 01:09
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howdoesishotweb posted:BWM cause you can “renew” AAA anytime. Just call when you break down and do the ol “ohhhhhhh jeez did that just expire? I’m shocked!” Yeah I work for AAA, and worst case is that we'll charge you a same day service fee that's like 70$ or so. But literally renew it the day before you call us and we don't care. Also we'll send service out if you've used all your calls too, we just charge for that depending on what you need.
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Jan 22, 2019 02:24
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therobit posted:Lol, no. We write loans for this situation fairly frequently. You get the unsecured rate and better have a risk profile that allows for an unsecured loan, but it gets done. Nobody much gives a drat if you lie about the purpose of an unsecured loan as long as you don't use it for an illegal purpose. When I had a portfolio I just assumed people wanted cash to blow and worked from there. I stand corrected. Why get a personal loan for a vehicle? If you have the risk profile for a personal loan, why not use that to get an auto loan with more favorable terms?
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Jan 22, 2019 04:16
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BonerGhost posted:I stand corrected. People do this but if they got new car financing chances are that used car financing would not be a meaningful improvement. Also 72 or 84 month loans are typically new car only (at least where I work) and a lot of planes will not do negative trade equity (where you roll in the balance of your last underwater vehicle ton ther new loan) . That is strictly a dealer sort of thing. If they are underwater on the car, nobody will refinance it if they can't put down the money to bring the ltv down to 100%.
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Jan 22, 2019 04:31
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therobit posted:Lol, no. We write loans for this situation fairly frequently. You get the unsecured rate and better have a risk profile that allows for an unsecured loan, but it gets done. Nobody much gives a drat if you lie about the purpose of an unsecured loan as long as you don't use it for an illegal purpose. When I had a portfolio I just assumed people wanted cash to blow and worked from there. I got told 135% of value, and my jaw hit the loving floor.
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Jan 22, 2019 11:12
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Since we're in AI right now can we just post automotive questions? I commute on the train and need a car for going to the grocery store every now and then. My wife has a "nice" car for her commute and our travel needs. I'll probably need a nicer car in the next year or two when we have kids. Should I: 1) Buy a used Golf R for 34k for now/later 2) Buy a beater for 5-10k for now. If so, what beater?
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Jan 22, 2019 11:59
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Buy a reliable econobox with about 100k on the odo for sub $3k. You can pick up 10 year old Civics or Focuses with about that for sub-$2k all over autotrader, and while boring, they'll be perfectly fine transportation for the 8 days a month you'll be using them, and cheap to insure. That Golf won't be in any worse shape when you go looking in a couple years, but will have vastly depreciated in price. Liquid Communism fucked around with this message at 12:23 on Jan 22, 2019 |
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Jan 22, 2019 12:18
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Buy my 2007 Nissan Versa. Pros: 6spd manual Cons: Nissan Versa
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Jan 22, 2019 12:44
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Liquid Communism posted:Buy a reliable econobox with about 100k on the odo for sub $3k. You can pick up 10 year old Civics or Focuses with about that for sub-$2k all over autotrader, and while boring, they'll be perfectly fine transportation for the 8 days a month you'll be using them, and cheap to insure. Fermented Tinal posted:Buy my 2007 Nissan Versa. Sorry guys, I couldn't hear you. This is AI and I'm looking at beater Mercedes wagons.
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Jan 22, 2019 14:38
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Residency Evil posted:Since we're in AI right now can we just post automotive questions? Buy a bike for a few hundred and a bike trailer for another hundred. Perfect now and then grocery getter. Buy car when you need it for kids.
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Jan 22, 2019 14:51
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spwrozek posted:Buy a bike for a few hundred and a bike trailer for another hundred. Perfect now and then grocery getter. Hah, I'll keep this as a plan D.
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Jan 22, 2019 14:56
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Buy the Golf now, then sell it in a few years for a massive loss and buy the most expensive SUV they will let you finance. It's the American way.
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Jan 22, 2019 14:59
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Bikes are super GWM as long as you have a good up to date life insurance policy for your inevitable murder by annoyed driver.
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Jan 22, 2019 15:00
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Grocery delivery is GWM because you only buy what is on the list and never get suckered into impulse buys. Where I live it’s like $3 delivery charge but even if it were an order of magnitude higher, it would still be more economical than buying an entire car just to go grocery shopping god drat.
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Jan 22, 2019 15:03
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OctaviusBeaver posted:Buy the Golf now, then sell it in a few years for a massive loss and buy the most expensive SUV they will let you finance. It's the American way. Payin' cash homie.  Switchback posted:Grocery delivery is GWM because you only buy what is on the list and never get suckered into impulse buys. Where I live it’s like $3 delivery charge but even if it were an order of magnitude higher, it would still be more economical than buying an entire car just to go grocery shopping god drat. Or you know, taking the dog to the vet when my wife's not home, or driving to Home Depot, or driving to work when I have to be in at 6am. It's been a tough road, but my wife and I have made it to the point where we can afford to spend the princely sum of $5k on a spare winter beater instead of forcing me to bring mulch from home depot home on a bike trailer. Residency Evil fucked around with this message at 15:21 on Jan 22, 2019 |
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Jan 22, 2019 15:18
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e^ Just answered above. Buy a decent used car if you must. If you literally have money to blow and want something shiny because, nobody can't tell you can't spend it, it just isn't a smart financial decision. Residency Evil posted:Since we're in AI right now can we just post automotive questions?
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Jan 22, 2019 15:24
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slidebite posted:Your wife has a car right now and you commute by train, why can't you use hers for grocery/running around and for family duty later? Because when she's on call, she may have to be at work on very short notice.
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Jan 22, 2019 15:26
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Thanatosian posted:What's the most your FI will write a car loan for? I work for a bank underwriting department on the direct loans side, and we go to 120% on new cars, but we are also a fairly conservative lender. I bet some of the dealership financing options go a lot higher. 120-125% seems to be fairly standard for banks and credit unions.
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Jan 22, 2019 15:28
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slidebite posted:Your wife has a car right now and you commute by train, why can't you use hers for grocery/running around and for family duty later? You're asking this question of a dude who buys loving mechanical wristwatches that cost more than a good beater car. You know, things that tell you what time it is, albeit with less accuracy and more maintenance than any number of devices that he already owns or could buy cheaply that also tell the time. Speedy Pro bros
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Jan 22, 2019 15:37
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Easychair Bootson posted:You're asking this question of a dude who buys loving mechanical wristwatches that cost more than a good beater car. You know, things that tell you what time it is, albeit with less accuracy and more maintenance than any number of devices that he already owns or could buy cheaply that also tell the time. Woah woah, I thought there was an unspoken agreement that the Watch Thread (and numerous AI thread) posters would not call each other out in the BWM thread. sup
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Jan 22, 2019 15:48
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Residency Evil posted:Since we're in AI right now can we just post automotive questions? I'd opt for either a 3-5yo or new EV or PHEV myself. Maybe I'm projecting. I like the idea of a used MBZ wagon, but as an ex-MBZ (German Indy shop) mechanic, I'm not sure I'd actually want one... I do really like a number of them, though... YMMV widely. OctaviusBeaver posted:Buy the Golf now, then sell it in a few years for a massive loss and buy the most expensive SUV they will let you finance. It's the American way. therobit posted:I work for a bank underwriting department on the direct loans side, and we go to 120% on new cars, but we are also a fairly conservative lender. I bet some of the dealership financing options go a lot higher. 120-125% seems to be fairly standard for banks and credit unions.
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Jan 22, 2019 15:49
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Residency Evil posted:I’ll probably need a nicer car in the next year or two when we have kids.  Yesterday on the way to preschool my 3 year old puked all over the backseat of my S5. Kids are a reason to downgrade, not the other way around.
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Jan 22, 2019 15:56
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Residency Evil posted:Since we're in AI right now can we just post automotive questions? 3) Vincent Black Shadow.
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Jan 22, 2019 16:33
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SiGmA_X posted:If you don't pay >$50k for your Golf you're bad with money. I should add that at least at my institution, >100% ltv is only for A or B grade credit and 60 month or less term. Longer terms are limited to 100% be because otherwise they would be underwater for years into the term. Typically what that extra 20% is for is tax, title, and license fees along with whatever extended warranty might be offered. We won't do cash back or anything like that, and we don't permit negative trade equity. However, some dealerships are good at hiding negative trade equity in the documents si that we'r don't know we'r are paying off the balance of the last car's loan. Typically they do this by overpaying for the trade and then overcharging for the new car. In my department (not the dealer financing department, since I don't know their practices) we require a purchase agreement if we need them to pay off their old loan in order for the dti on the new loan to work out. We then pull a trade in value from NADA on the trade in so that we can spot those sorts of shenanigans. LTV is calculated using MSRP for new cars. Where I work greater than 100% financing exists so that people with good credit can walk in to a dealership and buy a car with nothing down if they are willing to pay another quarter or half percent on the rate. Since these are all credit worthy borrowers the loans perform and it works out for us. The borrowers probably should just come up with a down payment if they are able to though so they aren't paying extra interest. Or pay cash for a used car if they want to be GWM. Edit: Every time my kids trash the family car we just bought, I am glad it's already 10 years old. Also I am kinda sad they no longer make the Mazda5 because I find it to be an ideal compromise to get the 3rd row seat and sliding doors into a car roughly the size of a toyota matrix. We have the manual version and it is fun to drive. It would probably not be as good with an automatic transmission though. therobit fucked around with this message at 16:48 on Jan 22, 2019 |
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Jan 22, 2019 16:42
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howdoesishotweb posted:
I think in this context "nicer" means "not breaking down all the time"
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Jan 22, 2019 16:49
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Also "bigger", if we're talking kids. Bigger is also very bwm.
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Jan 22, 2019 16:59
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Residency Evil posted:It's been a tough road, but my wife and I have made it to the point where we can afford to spend the princely sum of $5k on a spare winter beater instead of forcing me to bring mulch from home depot home on a bike trailer. $5k plus insurance every year plus maintenance every year. Uhaul's $20 per day. With computers and cars, don't buy them until you really need them. That said, if it makes sense to get a car for you then I'd agree with SiGmA_X, a used BEV or PHEV is the way to go for GWM newer cars. Used Chevy Volts are nice and affordable and will get you to work and back without sipping a drop of gas (unless it's cold). Though I'd like to hear AI's opinion of Volts for reliability/maintenance.
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Jan 22, 2019 17:04
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howdoesishotweb posted:
ugh leather or alcantara?
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Jan 22, 2019 17:14
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Black Lightning or go home. https://youtu.be/j0kJdrfzjAg
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Jan 22, 2019 17:17
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Residency Evil posted:Because when she's on call, she may have to be at work on very short notice. Use a taxi as your second vehicle?
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Jan 22, 2019 17:17
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Square Peg posted:$5k plus insurance every year plus maintenance every year. Uhaul's $20 per day. With computers and cars, don't buy them until you really need them. anecdotally all of the fancy drivetrain poo poo has been rock solid on my dad's Gen 2 but there have been of course mysterious radio and infotainment problems because GM
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Jan 22, 2019 17:18
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The dude's a doctor married to a doctor, I think he can afford more than a beater. But not 34k for a used compact car, what the hell
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Jan 22, 2019 17:34
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In keeping with the theme I've been posting, is it a bad sign to hear "when I get those forms from my investment company and enter them in while doing my taxes, it makes the refund go down. I never see that money anyway, so I just leave them out" Followed by "my dad transferred his timeshare over to me, do I have to pay taxes on that?" This is not a gimmick
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Jan 22, 2019 17:35
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Help, the thread is still stuck in AI and I can't handle car chat for much longer My personal bwm story: I spent $300 on Uber last week because I didn't wake up early enough to catch my ride w my carpool, and today I actively chose to wake up later and "enjoy my morning" vs catching a free ride because I'm a piece of poo poo Oh hey I guess that is vaguely car related
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Jan 22, 2019 17:38
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I mean to be fair the IRS is more hamstrung than ever before so now's the time to commit that fraud if you wanna roll the dice. Not that I advocate tax fraud -- Besides being morally reprehensible, if you get caught, you're absolutely hosed.
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Jan 22, 2019 17:39
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BonerGhost posted:I think in this context "nicer" means "not breaking down all the time" a reminder that the 'nicer' car being referred to here is a German hatchback turbo'd to hell and back with a complicated AWD system crammed in and an oil filter that fits in your great-grandmother's teacup. The 'R' does not stand for Reliable.
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Jan 22, 2019 17:52
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Not a Children posted:I mean to be fair the IRS is more hamstrung than ever before so now's the time to commit that fraud if you wanna roll the dice. Not that I advocate tax fraud -- Besides being morally reprehensible, if you get caught, you're absolutely hosed. Not filing forms that the IRS most definitely electronically received from the party who generated them and will automatically be compared to the forms you submit when filing will result in an absolutely zero human interaction generated CP2000 notice. Which will then get some human attention and you will be explaining some poo poo and get proper hosed if you don't.
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Jan 22, 2019 18:03
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Not a Children posted:I mean to be fair the IRS is more hamstrung than ever before so now's the time to commit that fraud if you wanna roll the dice. Not that I advocate tax fraud -- Besides being morally reprehensible, if you get caught, you're absolutely hosed. I missed some income for my wife's consulting business because we moved during tax season (lost/missed the 1099) , and the IRS just sent a nice little "send us what you owe us + interest" letter and that was that.
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Jan 22, 2019 18:05
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Bad with money Oh this car doesn't look that bad. Car gets delivered Well now the whole front end is shifted over 8 inches and the main fuse box is destroyed that's why it was so cheap. Oh the battery is completely smashed huh. Well the racing tires might explain this damage and that explains why the airbags didn't deploy. Good with money Salvage yard had parts and walking out with everything but sheet metal and a transmission cover for 500 bucks
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Jan 22, 2019 18:11
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