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God drat even if you don't know anything about cars or financing you got to be real fuckin dumb to think a ten year old Nissan Sentra with 100k+ miles on it is worth anywhere near ten thousand United States Dollars. That's just not the kind of car that is exciting and you fall in love with at first sight and make bad in the moment decisions about. It's a boring rear end economy car that wasn't even top of its class when new. These stories are always about Nissans. They truly are subprime magnets.
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Aug 9, 2018 19:35
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Guinness posted:God drat even if you don't know anything about cars or financing you got to be real fuckin dumb to think a ten year old Nissan Sentra with 100k+ miles on it is worth anywhere near ten thousand United States Dollars. They really don't know anything about cars at all if a brake job and some exhaust repairs means that the "car won't last much longer"
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Aug 9, 2018 19:36
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metallicaeg posted:They really don't know anything about cars at all if a brake job and some exhaust repairs means that the "car won't last much longer" "It's on its last legs!" Time to buy another crappy car at usurious rates and roll in the negative equity. 
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Aug 9, 2018 19:39
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Guinness posted:God drat even if you don't know anything about cars or financing you got to be real fuckin dumb to think a ten year old Nissan Sentra with 100k+ miles on it is worth anywhere near ten thousand United States Dollars. The part that always blows my mind is the Reddit post asking what to do and the top response being "You should have googled 'Is 20% a good rate for a car loan?' before you decided to buy a car." and the person always says, "It's too late for that! I need practical advice. How was I supposed to know you could just do that?" And they had a functioning second car! There was all the time in the world to at least do a google search before going to the dealer!
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Aug 9, 2018 19:41
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Is there a better GWM car brand than honda when it comes to normal, un-hosed-around-with resale value for their sedans and hatchbacks?
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Aug 9, 2018 20:37
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Good Parmesan posted:You can lead a horse to water... It's artisinal glacier fed hidden spring purestrain water. Only the best for my horse. *horse leans over to drink, shatters all bones*
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Aug 9, 2018 20:41
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wilderthanmild posted:If we’re being rejected, it’s for a reason. If we find ourselves tempted to alter documents, then it means we most likely can’t qualify for it on our own and committing fraud to obtain a mortgage isn’t worth it. Good chances we will end up unable to pay our mortgage if we have to lie to get it in the first place. Yeah no kidding, dummy. Make a venn diagram of "approved" and "not affordable" and those two circles do overlap.
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Aug 9, 2018 20:56
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metallicaeg posted:They really don't know anything about cars at all if a brake job and some exhaust repairs means that the "car won't last much longer" Had beers with a BWM ex-coworker last night who showed me recent photos of his car being towed due to a failed serpentine belt. 10 years old/130k miles and he never had any belts replaced on it prior to this incident. He bought this car because the last one suicided itself when the timing belt broke going full speed down the highway. He still didn't bother getting the timing belt done when the serpentine belt was replaced. 
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Aug 9, 2018 20:59
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FAUXTON posted:Is there a better GWM car brand than honda when it comes to normal, un-hosed-around-with resale value for their sedans and hatchbacks? Toyota But Honda is nearly as good and more fun/interesting
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Aug 9, 2018 21:16
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canyoneer posted:Yeah no kidding, dummy. Make a venn diagram of "approved" and "not affordable" and those two circles do overlap. I remember when I first got pre-approved and they told me the max I could get and I was astounded how bad of an idea it sounded like. Then it dawned on me how many people must look at that and think "Oh that means I can afford up to x" rather than "The bank will approve my idiot rear end for up to x".
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Aug 9, 2018 21:20
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A LOOOOT of people don't care about nerd poo poo like amortization schedule and interest rate. Just tell me how to get the Dollars Per Month to $500 so I can drive my car!! People always have a car payment so who gives a toot what the nitty gritty says as long as the payment is $500!
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Aug 9, 2018 21:25
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GoGoGadgetChris posted:A LOOOOT of people don't care about nerd poo poo like amortization schedule and interest rate. I really did not understand a lot of the advertising saying stuff like "I got my payments to $XXX a month!" I kept thinking "but for how long? You haven't given me enough information to decide if that's good or not!" Privilege is a hell of a drug
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Aug 9, 2018 21:27
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GoGoGadgetChris posted:A LOOOOT of people don't care about nerd poo poo like amortization schedule and interest rate.
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Aug 9, 2018 21:32
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I don’t think there’s anything wrong with shopping for a car with a target monthly price in mind. But where people go wrong is when they don’t look at the interest rate or how much it adds to the price of the car.
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Aug 9, 2018 21:33
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Even in the comments of that reddit post, people are bragging about how "Well my new Honda payments are only $400/mo  " which means absolutely nothing on its own. Down payment, interest rate, loan term, trade in value, etc all affect that. PF should know better.Do never shop on monthly payment alone. That's probably the leading way that people get screwed. very stable genius posted:I don’t think there’s anything wrong with shopping for a car with a target monthly price in mind. But where people go wrong is when they don’t look at the interest rate or how much it adds to the price of the car. You should be shopping for the car on total sale price, and nothing else. Financing terms are a different decision. What total price you are comfortable paying can be backed out from calculating what monthly payment you're comfortable with based on your downpayment/trade-in, expected interest rate, and loan term are. You should know these numbers pretty well ahead of time. If all you care about is a "$500 monthly payment" all sorts of shenanigans can be played in financing terms to make it happen. Guinness fucked around with this message at 21:39 on Aug 9, 2018 |
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Aug 9, 2018 21:34
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Guinness posted:Toyota I've had both, and vastly prefer Toyotas. They both have shining spots for certain models and years, but overall I would buy a maintained Toyota over anything else. Edit: Mazda and Nissan also sometimes have good models. Nocheez fucked around with this message at 22:12 on Aug 9, 2018 |
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Aug 9, 2018 21:35
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Hoodwinker posted:This was my brother's in-laws, no joke. They had a new truck every year. When my mom asked them how much it was costing them they gave her a blank stare. I'm pretty sure I've posted it in this thread before, but one of my coworkers was so excited that they got a "free upgrade" at their BMW dealer. They had 1-year left on the loan for their 2012 BMW and the dealership got her to trade it in and get a new 2017 version of the same car with the same monthly payments on a new 6-year loan.
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Aug 9, 2018 21:59
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Leon Trotsky 2012 posted:I'm pretty sure I've posted it in this thread before, but one of my coworkers was so excited that they got a "free upgrade" at their BMW dealer. They had 1-year left on the loan for their 2012 BMW and the dealership got her to trade it in and get a new 2017 version of the same car with the same monthly payments on a new 6-year loan.
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Aug 9, 2018 22:02
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Leon Trotsky 2012 posted:I'm pretty sure I've posted it in this thread before, but one of my coworkers was so excited that they got a "free upgrade" at their BMW dealer. They had 1-year left on the loan for their 2012 BMW and the dealership got her to trade it in and get a new 2017 version of the same car with the same monthly payments on a new 6-year loan. That's purestrain unstepped on BWM right there. I feel uncomfortable trading in cell phones. I can't even imagine getting rid of a BMW that is mostly paid off and probably still has $20k+ trade in value.
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Aug 9, 2018 22:03
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..So like those financed cellphone upgrades, but.. with a car 
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Aug 9, 2018 22:03
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Leon Trotsky 2012 posted:I'm pretty sure I've posted it in this thread before, but one of my coworkers was so excited that they got a "free upgrade" at their BMW dealer. They had 1-year left on the loan for their 2012 BMW and the dealership got her to trade it in and get a new 2017 version of the same car with the same monthly payments on a new 6-year loan. A coworker of mine did that too, with a Toyota Avalon. Her Avalon was 3 years old and they got her in the current year model. She had brought the Avalon into the dealership for an oil change and they upsold her into a new car. This was in a corporate finance job, and she had an MBA and was finishing up classes for a CPA
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Aug 9, 2018 22:11
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hailthefish posted:..So like those financed cellphone upgrades, but.. with a car I don’t know what any of these are, or what anyone is talking about Can someone please explain?
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Aug 9, 2018 22:14
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It is not uncommon for cellphone carriers in the US to offer annual upgrades to customers where you give them your iPhone 4 or whatever and they give you a new iPhone 4S or whatever and you just pay $x for the phone itself on your phone bill each month, where $x * 12 > cost of phone. But you don't have to pay anything up front, certainly not <cost of phone> so it's a free* upgrade!
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Aug 9, 2018 22:17
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DarkHorse posted:I really did not understand a lot of the advertising saying stuff like "I got my payments to $XXX a month!" I kept thinking "but for how long? You haven't given me enough information to decide if that's good or not!" https://www.youtube.com/watch?v=Bp2jVJcyyCo
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Aug 9, 2018 22:18
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That sounds really stupid. Maybe I’m not understanding it
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Aug 9, 2018 22:19
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Furia posted:That sounds really stupid. Then you're understanding it perfectly.
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Aug 9, 2018 22:23
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Furia posted:That sounds really stupid. You're understanding it perfectly. e:f;b If, like most Americans, you don't actually have $1000 sitting around, much less $1000 you can piss away on luxuries, but you're mortified of not having the latest gadgets and therefore looking like some kind of filthy poor, and don't actually bother/care to do the math, $100/mo for a new free* phone every year has an appeal. hailthefish fucked around with this message at 22:29 on Aug 9, 2018 |
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Aug 9, 2018 22:26
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The phone upgrade system isn't the worst thing out there. Trying to sell a phone on Craigslist makes me want to crack my own screen and unless you have family members you can pass the phone down to, it generally just sits in a drawer getting older. But holy loving poo poo it's not a car. hailthefish posted:If, like most Americans, you don't actually have $1000 sitting around, much less $1000 you can piss away on luxuries, but you're mortified of not having the latest gadgets and therefore looking like some kind of filthy poor, and don't actually bother/care to do the math, $100/mo for a new free* phone every year has an appeal. What phone costs $100/month? I've got a sweet Palm Pilot I've only got 6 more payments on and that's only like $35 a month.
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Aug 9, 2018 22:44
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I don't know I've only ever had refurb phones, myself
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Aug 9, 2018 22:50
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Krispy Wafer posted:The phone upgrade system isn't the worst thing out there. Trying to sell a phone on Craigslist makes me want to crack my own screen and unless you have family members you can pass the phone down to, it generally just sits in a drawer getting older. Phones are getting there. An iPhone X 256GB is $48 a month, and it’s definitely possible Apple will release an even more expensive one. Keep in mind an unlimited data plan with that phone and insurance for one person is about $150 a month BEFORE tax, so essentially most people are paying $100+ for a smartphone and service. Most people have been incrementally upgrades by the phone companies. Smartphones 3 years ago were around $25 a month. Then $27. Now $29-48. People don’t blink because it’s “only $5-10 more than what My current bill is.” Full disclosure, I pay $42 a month for my iPhone X. I used to sell my old phones (sold my 7 for $420ish), I think this year I’ll finally join the yearly upgrade program.
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Aug 9, 2018 22:53
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Phones are sold by carriers in 24 month installment plans with no interest (fortunately) from what I’ve seen. But they allow you to upgrade after 12 months, so you will have paid for half of your old phone and you don’t get any of the money back and your installment plan starts
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Aug 9, 2018 22:57
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Krispy Wafer posted:Trying to sell a phone on Craigslist makes me want to crack my own screen and unless you have family members you can pass the phone down to, it generally just sits in a drawer getting older. Swappa.com I've sold a few and bought a few. It's surprisingly well thought out and mostly painless. Baxate posted:Phones are sold by carriers in 24 month installment plans with no interest (fortunately) from what I’ve seen. Now the BWM is coming from within the thread. You fell for that one pretty good. The "interest" is the simple fact that you are paying FULL RETAIL MSRP on the phone.
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Aug 9, 2018 23:12
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canyoneer posted:A coworker of mine did that too, with a Toyota Avalon. Her Avalon was 3 years old and they got her in the current year model. She had brought the Avalon into the dealership for an oil change and they upsold her into a new car. This is exactly how my coworker did it too. It blew my mind that she went in for an oil change and walked out with a new car.
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Aug 9, 2018 23:12
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Duckman2008 posted:Phones are getting there. An iPhone X 256GB is $48 a month, and it’s definitely possible Apple will release an even more expensive one. Yes, but phones are now replacing computers for a lot of families. There was a story about a lady whose laptop got jacked the first week of school and she finished the semester doing all her research and term paper writing on her iPhone. Which sounds horrid, but still kind of impressive. If you include all the things expensive cell phones replace they start making more financial sense. They can even replace your friends.
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Aug 9, 2018 23:14
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Motronic posted:Swappa.com I've sold a few and bought a few. It's surprisingly well thought out and mostly painless. Yeah I mean that’s generally what happens when you buy new unused electronics.
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Aug 9, 2018 23:16
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FAUXTON posted:Is there a better GWM car brand than honda when it comes to normal, un-hosed-around-with resale value for their sedans and hatchbacks? BMWs (especially Ms) and Porsches hold value like mad. In a less-luxury arena, Subarus and Jeeps do pretty well.
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Aug 9, 2018 23:22
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Phanatic posted:BMWs (especially Ms) and Porsches hold value like mad. In a less-luxury arena, Subarus and Jeeps do pretty well. Is this true? I am fairly certain that M series value plummets hard and fast. The M2 for example has horrendous lease terms due to the crap residuals
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Aug 9, 2018 23:29
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I've been shocked about how well older Priuses have held their value, even with higher miles
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Aug 9, 2018 23:30
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Cat Figurine Guy has a long-lost sister. I'm (28 M) worried that my wife's (26 F) hobby is becoming an obsession quote:(Been married about a year)
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Aug 9, 2018 23:32
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GoGoGadgetChris posted:Is this true? I am fairly certain that M series value plummets hard and fast. Absolutely not true.
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