Average Monthly Auto Loan Now $503 @ 68 months

[Truefan31]

It's a lease. I told her just leave that shyt in the street with the engine running and hope someone steals it.

Tell her go back to dealership, find out what the termination will be. It'll be expensive, but not 800 for 4 years expensive=40k smh.

Or she can try to find someone to assume the lease for her. Trading sites.

 

[GetInTheTruck]

Tell her go back to dealership, find out what the termination will be. It'll be expensive, but not 800 for 4 years expensive=40k smh.

Or she can try to find someone to assume the lease for her. Trading sites.

I'll tell her about the termination fee. But I highly doubt anybody would be stupid enough to assume that lease.

 

[TLR Is Mental Poison]

I don't think you understand. Why are you buying a car if you only got 1000 in the bank to begin with?

How are people supposed to get to work? Most Americans don't have access to public transportation that will get them from home to work and back. You think people buy cars for the hell of it

And like I said there is risk associated with cash. With cash your $$$ is always tied up. With debt your $$$$ is more accessible. What exactly is this "risk" you keep claiming is associated with debt? If you have the cash to pay off the balance every month and are responsible enough to pay it off, what exactly is the risk?

 

[Truefan31]

Using cash has risk associated with it too. And yes, wealthy people use debt to their advantage all the time, and all the financial advisors I've talked to and read recommend using debt the way I do

Borrow Smart: How to Use Debt Wisely

7 Things Everyone Should Know About Credit Card Rewards



And like dude's like said most Americans have less than $1000 in the bank. If someone is just starting out, has a couple hundred dollars in the bank..... what is so bad about them taking temporary debt to buy a car until they can save up their emergency fund? Buying a $500 car is a bigger risk than having a car note- MOST people are able to pay their car notes; if they couldn't there wouldn't be a whole business around it. If you have more money and good credit it still makes sense:

Buying a Car: Should You Pay With Cash if You Can? - Autotrader



Some people even use debt to invest

Risk is fine if you understand it.... you do not understand the risk associated with debt OR cash.

hey if you're disciplined, you may be alright. But history has shown that people in general will slip up. And they will eventually pay more than necessary to someone else.

Do you honestly think having cash on hand has more risk than taking on debt and leveraging it to future earnings? Sure there's wealthy people out there who've used debt to become wealthy. There's always a few. Look at the stats though. The vast majority of millionaires, the super wealthy, the ones who've worked for it, are not taking on debt. It's simple, debt means you're making someone else richer. Debt has more risk than just buying outright and owning. And if you've worked for your money, you're not just gonna give it up to someone else.

Most people have less than 1000 in the bank. It's proving my point. It's why there's a problem in the US. If you have less than 1000 in the bank, YOU SHOULD NOT BE BUYING A CAR. You should be saving, working, saving, working, rinse and repeat. You say buying a 500 car has more risk than having a car note. Again, YOU SHOULD NOT BE BUYING A CAR TO BEGIN WITH.

The whole car business you speak of, it's to make money. It's to get you to sign that line, THEY WANT TO MAKE MONEY OFF YOU. Whether it's interest rates, tax/title, registration, gap, extended warranty, etc. YOU ARE MAKING THEM RICHER.

Debt is like smoking. There's some people who smoke repeatedly, taking chances, who live to 100 and never get lung cancer. Then there's the majority who lose their teeth, get cancer, and die a painful death. The vast majority of experts in the field suggest avoiding smoking because it's hazardous to your health. How about being the person who avoids smoking and avoids risking to see where you end up? Just like taking on debt repeatedly.

 

[Truefan31]

How are people supposed to get to work? Most Americans don't have access to public transportation that will get them from home to work and back. You think people buy cars for the hell of it

And like I said there is risk associated with cash. With cash your $$$ is always tied up. With debt your $$$$ is more accessible. What exactly is this "risk" you keep claiming is associated with debt? If you have the cash to pay off the balance every month and are responsible enough to pay it off, what exactly is the risk?

So people somehow weren't able to work before cars? In actuality, public transportation is accessible to plenty of people, yet people choose to get cars instead. Yes I think people buy cars for the hell of it, it happens all the time, and the dealers love it. Nobody ever did a carpool in their life? Took a bus? Rode a train? Walked? Rode a bike?

 

[TLR Is Mental Poison]

hey if you're disciplined, you may be alright. But history has shown that people in general will slip up. And they will eventually pay more than necessary to someone else.

Do you honestly think having cash on hand has more risk than taking on debt and leveraging it to future earnings? Sure there's wealthy people out there who've used debt to become wealthy. There's always a few. Look at the stats though. The vast majority of millionaires, the super wealthy, the ones who've worked for it, are not taking on debt. It's simple, debt means you're making someone else richer. Debt has more risk than just buying outright and owning. And if you've worked for your money, you're not just gonna give it up to someone else.

Most people have less than 1000 in the bank. It's proving my point. It's why there's a problem in the US. If you have less than 1000 in the bank, YOU SHOULD NOT BE BUYING A CAR. You should be saving, working, saving, working, rinse and repeat. You say buying a 500 car has more risk than having a car note. Again, YOU SHOULD NOT BE BUYING A CAR TO BEGIN WITH.

The whole car business you speak of, it's to make money. It's to get you to sign that line, THEY WANT TO MAKE MONEY OFF YOU. Whether it's interest rates, tax/title, registration, gap, extended warranty, etc. YOU ARE MAKING THEM RICHER.

Debt is like smoking. There's some people who smoke repeatedly, taking chances, who live to 100 and never get lung cancer. Then there's the majority who lose their teeth, get cancer, and die a painful death. The vast majority of experts in the field suggest avoiding smoking because it's hazardous to your health. How about being the person who avoids smoking and avoids risking to see where you end up? Just like taking on debt repeatedly.

How can you work if you don't have a car? Again most people don't have access to public transportation.... how are people supposed to save if they can't work?

 

[TLR Is Mental Poison]

So people somehow weren't able to work before cars? In actuality, public transportation is accessible to plenty of people, yet people choose to get cars instead. Yes I think people buy cars for the hell of it, it happens all the time, and the dealers love it. Nobody ever did a carpool in their life? Took a bus? Rode a train? Walked? Rode a bike?

No, public transportation is NOT accessible for most people:

Why most Americans can’t take mass transit to work

Transportation Report | Transportation Infrastructure | 2013 Report Card for America's Infrastructure

And people didn't need cars to get to work because we were an agricultural society. Or jobs were built close to people's houses. Neither of those are true anymore.

 

[Truefan31]

How can you work if you don't have a car? Again most people don't have access to public transportation.... how are people supposed to save if they can't work?

You really think people never worked unless they had a car? Nobody ever took a train? Bus? Carpool? Walked? Rode a bike?

You can work, save up, when you have enough, get a decent car, could be 1500, could be 3000. Not pretty, but gets you from point A to B. Keep saving. Working, Saving, maybe buy a 5000-6000 car. Plenty of decent cars at that range, hell plenty of good enough cars at the entry range too. I still drive my 95 honda civic with 235000 miles. Rinse and repeat, work, save, move up when ready.

 

[Truefan31]

No, public transportation is NOT accessible for most people:

Why most Americans can’t take mass transit to work

Transportation Report | Transportation Infrastructure | 2013 Report Card for America's Infrastructure

And people didn't need cars to get to work because we were an agricultural society. Or jobs were built close to people's houses. Neither of those are true anymore.

So there's no carpool? Can't ride a bike? Walk?

A kid can make 1500-3000 in a summer cutting yards, they need a car to do that? Most times no.

 

[TLR Is Mental Poison]

You really think people never worked unless they had a car? Nobody ever took a train? Bus? Carpool? Walked? Rode a bike?

You can work, save up, when you have enough, get a decent car, could be 1500, could be 3000. Not pretty, but gets you from point A to B. Keep saving. Working, Saving, maybe buy a 5000-6000 car. Plenty of decent cars at that range, hell plenty of good enough cars at the entry range too. I still drive my 95 honda civic with 235000 miles. Rinse and repeat, work, save, move up when ready.

No public transportation gets to my job from where I live, and my job is 35 miles from my house. Even if my job was close, you want people to ride their bikes to work in the rain? Snow? Hot summer when there's no shower at their job? How am I supposed to get to work 35 miles away to save up for a car without a car and no public transportation?

 

[TLR Is Mental Poison]

So there's no carpool? Can't ride a bike? Walk?

A kid can make 1500-3000 in a summer cutting yards, they need a car to do that? Most times no.

I would need a car to get to the meeting point of the carpool.

And what the hell is $1500 over a summer? Where can someone live and have their own place on $500 a month?

 

[Truefan31]

No public transportation gets to my job from where I live, and my job is 35 miles from my house. Even if my job was close, you want people to ride their bikes to work in the rain? Snow? Hot summer when there's no shower at their job? How am I supposed to get to work to save up for a car without a car and no public transportation?

So basically the car is a convenience for you. It is to most of us. But there's plenty of people who take long commutes to get to a job, whether it's walking to an accessible transit system, taking transfer routes, etc. Most people can save 1500 for a car, most teenagers can btw, they just don't want to.

 

[Truefan31]

I would need a car to get to the meeting point of the carpool.

And what the hell is $1500 over a summer? Where can someone live and have their own place on $500 a month?

I'm saying that it's possible to save for a beater car, you don't have to finance a car. A kid can scrape together 1500-2000 working in a summer, I'd hope a sensible adult could do at least that. But obviously most don't, they do the easier route of getting a car or financing a car. It's how the trend starts.

I hope my honda lasts forever Every 6 months I gotta pay property taxes on it. $11.00.. 15 dollars to fill the gas tank, lasts two weeks for me.

 

[TLR Is Mental Poison]

So basically the car is a convenience for you. It is to most of us. But there's plenty of people who take long commutes to get to a job, whether it's walking to an accessible transit system, taking transfer routes, etc. Most people can save 1500 for a car, most teenagers can btw, they just don't want to.

A convenience What part of "there is no public transportation between my house and my job" don't you understand?

 

[TLR Is Mental Poison]

I'm saying that it's possible to save for a beater car, you don't have to finance a car. A kid can scrape together 1500-2000 working in a summer, I'd hope a sensible adult could do at least that. But obviously most don't, they do the easier route of getting a car or financing a car. It's how the trend starts.

I hope my honda lasts forever Every 6 months I gotta pay property taxes on it. $11.00.. 15 dollars to fill the gas tank, lasts two weeks for me.

It's easy to save money when your bills are paid for by your parents.