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KYOON GRIFFEY JR posted:Yes, get a quote from one of the online car sales companies and enjoy not having to do anything to sell your car I did the KBB Instant Cash offer and it could not have been any simpler. It's similar to Carmax where they will buy it from you without you buying a car from them. It takes < 5 minutes of your life and will give you a good starting number anyway.
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May 18, 2021 15:19
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Well poo poo, okay. That sounds pretty doable. I have a few dents so I知 probably going to lose some money on it for that but whatever.
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May 18, 2021 19:35
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god the idea of doing car sales / purchases online without car salesmen sounds like heaven
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May 18, 2021 20:33
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Code Jockey posted:god the idea of doing car sales / purchases online without car salesmen sounds like heaven It's possible but be prepared to wade through a pile of bullshitters at dealerships that won't do it, despite nominally being "internet sales" departments. It should be so much easier and it's stupid that it's not. I griped about the new car buying process a couple months ago in this thread, but did ultimately find a regional dealership that was willing to do the deal online, got a price under invoice for exactly what I wanted, and just showed up to sign the papers and drive away with the car. No bullshit, no stupid games, no hassle. Although I apparently bought at just the right time, right before all the supply chain poo poo blew up. Guinness fucked around with this message at 21:12 on May 18, 2021 |
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May 18, 2021 21:10
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Thumbtacks posted:Well poo poo, okay. That sounds pretty doable. I have a few dents so I知 probably going to lose some money on it for that but whatever. It's especially viable right now because Carvana and the like are dumping VC money into paying higher prices for cars, and it's a seller's market. As long as the car looks good on paper (no crash history, not a shitton of miles, etc) you should get a pretty damned decent offer without having to do a thing other than sign over the title and hand the keys over.
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May 18, 2021 21:25
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Thumbtacks posted:my dad brought up recently that since we're moving to another state and we both are wfh and will continue to be once we get there, we don't really need two cars and it might be better to try and sell mine now. that way i wont have to deal with trying to get it up there and i can just look into a new car when we're there which i was already probably going to do. his suggestion was to just use kelley blue book to get the rough value of the car and then throw it up on auto trader or something and see if i can get some decent money out of it. this seems like a reasonably good idea, and would solve a lot of problems. is there a smarter way to do this or would that work? We did Caravana for the same reason. Apply and send in a couple pictures, and 48 hours later two guys in carvana shirts showed up to my house with the check and drove off. It was a couple thousand less than I could have gotten doing a personal sale but I also literally didn't do anything. They give you the amount before you commit so your can decide if you like it before you're locked in to anything. Vroom also does the same but wanted the title signed and mailed to them before payment so they could take care of registration (which I wasn't comfortable doing).
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May 18, 2021 22:01
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The Toyota dealership where I bought my 2014 Corolla a few years ago has emailed me like six times this month begging me to trade in my car and upgrade, I知 like are you kidding me I知 in position to pay it off this year and I知 very much looking forward to not having a car payment.
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May 18, 2021 22:13
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PageMaster posted:We did Caravana for the same reason. Apply and send in a couple pictures, and 48 hours later two guys in carvana shirts showed up to my house with the check and drove off. It was a couple thousand less than I could have gotten doing a personal sale but I also literally didn't do anything. They give you the amount before you commit so your can decide if you like it before you're locked in to anything. Noted, I will do that! I need it this weekend for a quick trip but after that I'll basically get it ready to go. I'm guessing I should clean it and stuff, unless they do that anyway.
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May 18, 2021 22:21
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Thumbtacks posted:Noted, I will do that! I need it this weekend for a quick trip but after that I'll basically get it ready to go. I'm guessing I should clean it and stuff, unless they do that anyway. I just vacuumed and did a drive through carwash. They're offering on car accident/damage/history, features, and miles so don't worry about detailing or anything since they do all that before listing. Quick clean only like I did is still worth it just because their inspection before taking possession was the two guys walking around the car for 2 minutes before driving it away (though I don't know if it will be the exact same for you). Also above poster is spot on about pricing, just checked and I think they're offering 3k more for my wife's SUV than they were last spring when we requested an estimate. PageMaster fucked around with this message at 23:08 on May 18, 2021 |
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May 18, 2021 22:28
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Dross posted:The Toyota dealership where I bought my 2014 Corolla a few years ago has emailed me like six times this month begging me to trade in my car and upgrade, I知 like are you kidding me I知 in position to pay it off this year and I知 very much looking forward to not having a car payment. That's just classic dealership tactics, a lot of people basically treat the loan term as the interval to own/replace a vehicle.
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May 18, 2021 22:32
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Dross posted:The Toyota dealership where I bought my 2014 Corolla a few years ago has emailed me like six times this month begging me to trade in my car and upgrade, I’m like are you kidding me I’m in position to pay it off this year and I’m very much looking forward to not having a car payment. But I can get you in a brand new Corolla for the same money*, nothing down! It's practically a free car! * same monthly payment on a new 84 month loan.
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May 18, 2021 22:39
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IOwnCalculus posted:That's just classic dealership tactics, a lot of people basically treat the loan term as the interval to own/replace a vehicle. hell, a decent number of people don't even keep to the interval of paying off the loan before getting a replacement vehicle. they simply fold the remaining balance of their current loan into their next auto loan.so technically the 84 and 96 month terms that are being rolled out don't even fully capture the length of time that folks are carrying that debt
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May 18, 2021 22:39
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Dross posted:The Toyota dealership where I bought my 2014 Corolla a few years ago has emailed me like six times this month begging me to trade in my car and upgrade, I知 like are you kidding me I知 in position to pay it off this year and I知 very much looking forward to not having a car payment. Ugh, unsolicited sales stuff from dealerships is so annoying, My dealership called me while I was at work after bringing the my car in for repairs to ask me what it would take to get me into a new Volkswagen. I said, "Nothing, I am having you repair it because I want to keep my car, I don't care if it's 16 years old and has no power windows or AC." They did this once more, but must have gotten the message that time. That car has since died and I did not go to them for its replacement.
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May 18, 2021 22:42
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Thumbtacks posted:Noted, I will do that! I need it this weekend for a quick trip but after that I'll basically get it ready to go. I'm guessing I should clean it and stuff, unless they do that anyway. they will do it anyway. just make it not gross and not gross inside, nothing fancy.
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May 18, 2021 22:53
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I have a pretty basic question that should be easy but googling it is proving weirdly unhelpful: what's the formula for calculating expected growth from investments. Like obviously the market is all over the place so there's risk in that, but if I naively assume say a 6% gain, compounding monthly, how to I calculate that in excel or whatever? I'm sure they taught me this in school but I can't remember it to save my life  I'm trying to run a couple scenarios for car buying, which include 0% financing with a periodic withdrawals, or lesser cash payments.
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May 19, 2021 03:44
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Yes, it's like a lava lamp.
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PittTheElder posted:I have a pretty basic question that should be easy but googling it is proving weirdly unhelpful: what's the formula for calculating expected growth from investments. Like obviously the market is all over the place so there's risk in that, but if I naively assume say a 6% gain, compounding monthly, how to I calculate that in excel or whatever? I'm sure they taught me this in school but I can't remember it to save my life 6% gain in this situation (if you are using sane numbers) would be ANNUAL. And you would use a compound interest calculator like this: https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator
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May 19, 2021 03:49
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The long-run growth rate of an investment depends on its volatility as well as the average return. Trying to treat it as a series of fixed payments will lead you badly astray.
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May 19, 2021 04:07
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Motronic posted:6% gain in this situation (if you are using sane numbers) would be ANNUAL. And you would use a compound interest calculator like this: https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator Yeah this I know, like I remember that for rapid compounding you're dividing the interest by the number of compounding periods so it's not absurd. The problem I'm finding with online calculators is that they don't allow for both accumulation of investment and periodic withdrawals. ultrafilter posted:The long-run growth rate of an investment depends on its volatility as well as the average return. Trying to treat it as a series of fixed payments will lead you badly astray. This is true too though, and I guess something I've been ignoring, so I do appreciate it being pointed out. Especially with the volatility there seems to be now, it seems like my expected growth is either +25% or -75% (or I guess I could invest in something less exposed than indexes)
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May 19, 2021 05:28
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PittTheElder posted:Yeah this I know, like I remember that for rapid compounding you're dividing the interest by the number of compounding periods so it's not absurd. The problem I'm finding with online calculators is that they don't allow for both accumulation of investment and periodic withdrawals. So are you looking for something more like this: https://www.bankrate.com/calculators/savings/savings-withdrawal-calculator-tool.aspx
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May 19, 2021 05:38
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Code Jockey posted:god the idea of doing car sales / purchases online without car salesmen sounds like heaven How else do you buy a car? (I guess used cars it is different) I just take a day, test drive all the different ones I am considering. Get prices, say thanks and I have more to test drive. Pick one. Email all the dealers that have the same thing in town and tell them to give me the best out the door price. If the guy I test drove with is cool and not the lowest give him a chance to beat the lowest. Pick the lowest, set a time to pick it up, go in at 8:45 pm, sign the papers (trust me the finance guy does not want to sell you on the extended warranty when he wants to go to the bar for a drink). Drive away with car. I will never sit there and let them do the back and forth BS.
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May 19, 2021 05:58
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spwrozek posted:How else do you buy a car? (I guess used cars it is different) This is good stuff. I admit it, I've been exactly the type of customer that dealerships love with the two cars I've purchased on my own. My problem is until very recently in my life, I haven't had a great deal of self esteem, and get pushed into things easily, overwhelmed, too enthusiastic, and never had the spine to just walk if I was feeling unsure or already knee-deep in the negotiation - not that I did much negotiating. I mean I've loved both my cars, and they were the exact cars I wanted when I wanted them (and still love the one I have), but I definitely should've shopped around more than I did and not tolerated the dumb poo poo the dealers were doing. The process of buying the car I have now was an utter waste of my time. A bunch of "weeeelll... let me go talk to my manager and see if we can get better numbers" time wasting, the tried and true four-square thing, all that. All the while beating me over the head with "make sure to rate us all 10s (or 5s, whatever) on the survey we send out! It's super important and if we get less than perfect it's like we failed!" blah blah bullshit. Mazda of Everett in Everett, WA. I never did that stupid loving survey. I couldn't believe how hard the sales guy was pushing it That was buying a brand new car, the car I bought before that was used, and so long ago I can't really remember what that was like. Most likely much of the same, except not so much about surveys. I like the 8:45 pm thing, that's clever.
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May 19, 2021 06:35
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Code Jockey posted:This is good stuff. I dunno; I showed up at the end of the night and the sales guy worked his rear end off for it. Maybe I'm a rube, but a 10-year 100k bumper-to-bumper wraparound seemed like a good deal (considering that I paid like $500 to replace a water pump a week and a half before I totaled my previous car at less than 100k miles). I will say that I can't remember offhand but I want to say the deal they cut me for the extended warranty was less than I had paid on repairs to my previous car so it felt like a win at the time. I guess the egg will be on my face if Kia makes a MUCH better machine than Ford and my lived experience is a warning to the rest of the thread
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May 19, 2021 06:59
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If you池e bad at negotiating, use a service like Costco where they pre-negotiate prices. You can still negotiate lower than that but at least the price ceiling will be lower.
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May 19, 2021 15:51
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Anyone know if you can use Costco car buying remotely with shipping? I'm moving from Germany back to the states, ideally I'd just do the car buying stuff online and have the car delivered to my parents' house before we even arrive.
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May 19, 2021 19:20
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E: never mind
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May 20, 2021 15:03
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IOwnCalculus posted:That's just classic dealership tactics, a lot of people basically treat the loan term as the interval to own/replace a vehicle. Joke's on them, I'm driving this thing until the wheels fall off and can't be put back on again. nelson posted:If you池e bad at negotiating, use a service like Costco where they pre-negotiate prices. You can still negotiate lower than that but at least the price ceiling will be lower.
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May 20, 2021 21:38
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Haifisch posted:Also they don't stop even after you pay your car off. I don't see much of it because I have all dealership emails go straight to junk mail, but I do occassionally get irl junk mail asking me to do a trade-in. This is how I am with cars. Despite how much Mazda wants mine back, I am 170k miles in, all but 20 of those I put on it myself, and no sign of stopping now. My last car I bought used with around 20k miles and I think it finally died at 220k total (between the two engines it went through) COVID is awful but boy I'm glad I don't commute so much anymore!
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May 20, 2021 21:47
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This is a "good problems" post so sorry if I sound like an rear end in a top hat. I've maxed out my 401k, IRA, and my savings (which gets me 0.4% interest lol) has 18 months of expenses in it. I feel like I should diversify but I don't know where to go from here. I will never be able to save enough to get a down payment on a house in my area so I just want a better return for my money. What should I be looking into? CDs? Retail investing? Do what I've always done and buy a ton of index funds? My ideal solution would be to buy a house but there is no way I can afford it here (PNW).
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May 21, 2021 05:29
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I know, reddit, but the /r/personalfinance wiki is actually pretty solid, including on this subject. tl;dr: If you're saving for something specific in a short time frame, CDs, bonds, or a regular old savings account is fine. If you're just doing general long term savings, stick with index funds. Investing in specific individual companies/stocks is basically gambling - it sounds like you could actually afford to do that if you wanted to, just bear in mind that it's gambling. I don't know what your financial picture looks like outside of saving, but this would also be a good time to consider spending you might have been avoiding while you bulked your savings/retirement up. Not in the 'ok I have a license to be irresponsible now' sense, but in the 'what would I like to do and can afford to do now that my financial house is in order?' sense. Giving to charity, big vacation trips(once it's not wildly irresponsible to do so ), etc.
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May 21, 2021 23:37
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I would also suggest that if you're maxing everything and have any substantial money left over saving for a house is not an unrealistic goal even in PNW. You can always take a shot at saving for a house and then just not use that money to buy a house if it's still an insane market.
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May 21, 2021 23:40
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I've been living off of savings while working on my game. Generally this has involved me periodically selling off some of my index fund shares and transferring the money to my checking account, from which it is spent on food, healthcare, housing, etc. I don't have a savings account because rates have been so terrible for so long. Is this a reasonable approach, or am I missing some big source of risk or some optimization I could be doing?
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May 21, 2021 23:40
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greps of wrath posted:This is a "good problems" post so sorry if I sound like an rear end in a top hat. I've maxed out my 401k, IRA, and my savings (which gets me 0.4% interest lol) has 18 months of expenses in it. I feel like I should diversify but I don't know where to go from here. I will never be able to save enough to get a down payment on a house in my area so I just want a better return for my money. What should I be looking into? CDs? Retail investing? Do what I've always done and buy a ton of index funds? You may want to take a look at condos. If you're making enough to afford to max out all of that tax-advantaged space, you can probably afford a condo (unless you need someplace bigger).
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May 21, 2021 23:51
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greps of wrath posted:This is a "good problems" post so sorry if I sound like an rear end in a top hat. I've maxed out my 401k, IRA, and my savings (which gets me 0.4% interest lol) has 18 months of expenses in it. I feel like I should diversify but I don't know where to go from here. I will never be able to save enough to get a down payment on a house in my area so I just want a better return for my money. What should I be looking into? CDs? Retail investing? Do what I've always done and buy a ton of index funds? It sounds like you're in great shape, so I don't think it's unreasonable to have a goal to buy a house. I'm in the PNW so I am fully aware of the price madness, but if you're consistently saving on top of maxed out retirement savings you're doing better than most folks. If your time horizon is vague/flexible, then index funds in a normal taxable brokerage are likely your best bet. There's obviously a market risk element, but in the long run it should vastly outperform cash savings. Or even if it ends up not being for a house, general slush fund medium/long term savings ought to be invested for growth and to give your future self options on how to spend it. Also with rates as historically low as they are right now, it may make sense to suck it up at only put down 3-5% even if it means eating PMI for a while. But only if buying/owning is something you really desire. Your primary residence should be a lifestyle decision, not an investment decision, but obviously the finances have to pencil out. Guinness fucked around with this message at 23:57 on May 21, 2021 |
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May 21, 2021 23:54
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TooMuchAbstraction posted:I've been living off of savings while working on my game. Generally this has involved me periodically selling off some of my index fund shares and transferring the money to my checking account, from which it is spent on food, healthcare, housing, etc. I don't have a savings account because rates have been so terrible for so long. Is this a reasonable approach, or am I missing some big source of risk or some optimization I could be doing? I would keep a considerable buffer of cash in excess of your usual selling to pay for necessities. This way if the market tanks you can skip selling for a quarter or two.
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May 22, 2021 03:43
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H110Hawk posted:I would keep a considerable buffer of cash in excess of your usual selling to pay for necessities. This way if the market tanks you can skip selling for a quarter or two. Yeah, that makes sense, thanks!
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May 22, 2021 03:54
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greps of wrath posted:This is a "good problems" post so sorry if I sound like an rear end in a top hat. I've maxed out my 401k, IRA, and my savings (which gets me 0.4% interest lol) has 18 months of expenses in it. I feel like I should diversify but I don't know where to go from here. I will never be able to save enough to get a down payment on a house in my area so I just want a better return for my money. What should I be looking into? CDs? Retail investing? Do what I've always done and buy a ton of index funds? You can still buy $10k worth of I Bonds a year, so not bad to look at that either.
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May 22, 2021 12:35
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I need a safe-deposit box. I do most of my primary banking through USAA and generally have no desire to change that (they are extremely great about everything), but I'm not local to any branches. I think most places only do safe-deposit boxes for members, right? The ideas that I've come up with are:
edit: also random question but if you're married, how do 401ks work in terms of moving funds between them? Can you not do it at all, or only during "major life events", or specifically when they leave the job, or anytime? Obviously you'd have to play the game to max out employer matches/etc on an ongoing basis but my employer's 401k plan is sicknasty and it probably wouldn't make any sense to keep any money in another plan that you didn't have to. Paul MaudDib fucked around with this message at 02:06 on May 31, 2021 |
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May 31, 2021 01:56
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Paul MaudDib posted:edit: also random question but if you're married, how do 401ks work in terms of moving funds between them? Can you not do it at all, or only during "major life events", or specifically when they leave the job, or anytime? Obviously you'd have to play the game to max out employer matches/etc on an ongoing basis but my employer's 401k plan is sicknasty and it probably wouldn't make any sense to keep any money in another plan that you didn't have to. Between "them" meaning 401(k) that are in your name? This all depends on the plan, and you have to read the plan docs. You can always roll out into a rollover IRA. Whether you can roll into another plan from that is up to the plan. Whether you can roll a former employer's 401(k) into your new employers is the same on both plans, but very common. I'm not sure what "games" you are talking about "playing". You can contribute the annual max, which changes over time. It's a good deal for people who can do so. If you can't afford the annual max you need to look at how much the match matters and contribute enough to get that if it's meaningful, then you can to invest in an IRA of your choosing (if you are below the income cap) which may have better fund choices/expenses than a bad employer plan. But the annual cap is much lower. Nothing about 401(k) or IRA has to do with being married (other than that one thing where you non-working spouse can use joint funds to fund their IRA providing there is sufficient earned income). They are individual retirement accounts.
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May 31, 2021 02:18
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Paul MaudDib posted:I need a safe-deposit box. Firts question: stop thinking about "preferences" and just call around and ask who has space. When you find one that does open an account there. 401k will not count towards anything. Second: you cannot move between your 401k and your wife's, ever.
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May 31, 2021 02:55
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Paul MaudDib posted:I need a safe-deposit box. I do most of my primary banking through USAA and generally have no desire to change that (they are extremely great about everything), but I'm not local to any branches. I think most places only do safe-deposit boxes for members, right? The ideas that I've come up with are:
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Jun 1, 2021 06:24
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