Average Monthly Auto Loan Now $503 @ 68 months

[Truefan31]

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

lol ok we can agree to disagree. If you want to do car loans go for it. You're making them richer while you take the risk. Hope it all stays kosher for you over time.

 

[Truefan31]

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

I've talked to plenty of people who've had rough upbringings, poor, yet the drive inside made them a success. It can be done, whether your parents take care of you or not. These people understand the value of their work and dedication, the real value of the dollars they earn. In no way do they want their money going into someone else's pockets in forms of interest from loans. You want something, you save for it and buy it. Like our parents and grandparents did.

Winning isn't easy, or else it wouldn't be called winning.

 

[TLR Is Mental Poison]

lol ok we can agree to disagree. If you want to do car loans go for it. You're making them richer while you take the risk. Hope it all stays kosher for you over time.

Paying them a couple hundred dollars so I can use my money to make me a thousand or so is making them rich? Them giving me a couple thousand I may or may not pay back is me taking the risk?

 

[Truefan31]

Paying them a couple hundred dollars so I can use my money to make me a thousand or so is making them rich? Them giving me a couple thousand I may or may not pay back is me taking the risk?

All good, you keep doing what you're doing. It's your life.

 

[Truefan31]

Would yall pay off your car if u have gap insurance?

i dont' think i'm understanding this question?

 

[Mr210]

Focus guys

 

[AlwaysLurkin]

i dont' think i'm understanding this question?

Let's say I pay off my car and get into a wreck I'll automatically lose about 5k.If I keep making payments and I get into a wreck gap insurance will cover the difference and my savings account will still be intact.

 

[BeeCityRoller]

My manager got the promotion to salaried 2 years ago and bought a used Suburban fully loaded. Don't know how much the car note is but I know its at least $500 and he ain't paying it off anytime soon. He's out here hurting so bad he now has to drive Uber Black after 55+ hours at his main job, and even bought a beater at auction to help save on gas.

Yet he acts like im crazy for keeping my paid-off 15-year old car when repairs/maintenance/upgrades have never cost me more than a thousand in a given year.

 

[Truefan31]

Let's say I pay off my car and get into a wreck I'll automatically lose about 5k.If I keep making payments and I get into a wreck gap insurance will cover the difference and my savings account will still be intact.

I assume you mean if you total your car, meaning at least 70% damage as determined by the inspectors. A wreck alone would not initiate gap insurance.

if you just buy out a good used car you won't need gap, the car's value is already gone through the heavy depreciation period since it's used and you'll find in most cases the insurance covers what the car's worth, which will be enough since you had the smarts to buy used.

And you know when you get a new car along with paying those payments, you're also paying for that gap insurance too. I really hope your savings account would be intact regardless. That's my point. Your savings/emergency fund should already be accounted for before you buy a car.

 

[Truefan31]

My manager got the promotion to salaried 2 years ago and bought a used Suburban fully loaded. Don't know how much the car note is but I know its at least $500 and he ain't paying it off anytime soon. He's out here hurting so bad he now has to drive Uber Black after 55+ hours at his main job, and even bought a beater at auction to help save on gas.

Yet he acts like im crazy for keeping my paid-off 15-year old car when repairs/maintenance/upgrades have never cost me more than a thousand in a given year.

one of my cars is a 1995 honda civic. 235k miles, still runs smooth. 15-20 to fill the tank which lasts me 2 weeks. Property taxes about 22 dollars a year. all while doing my 5500 in a roth ira, 19% 401k contributions with employer matching 3%, pension contributions of 180/week, and some other dabbling.

Hope my civic lasts forever. If not, so be it, buy another for 1500-2000, keep rolling.

pulling up to a gas station next to a suburban, i can pull in, pump gas and pay, and leave, while dude is still pumping gas

 

[HookersandIceCream]

one of my cars is a 1995 honda civic. 235k miles, still runs smooth. 15-20 to fill the tank which lasts me 2 weeks. Property taxes about 22 dollars a year. all while doing my 5500 in a roth ira, 19% 401k contributions with employer matching 3%, pension contributions of 180/week, and some other dabbling.

Hope my civic lasts forever. If not, so be it, buy another for 1500-2000, keep rolling.

pulling up to a gas station next to a suburban, i can pull in, pump gas and pay, and leave, while dude is still pumping gas

How much are you saving per month?

 

[Truefan31]

How much are you saving per month?

As in what? After all of that what's left?

 

[You Win Perfect]

I bought it certified pre owned, I'm not taking the depreciation hit.

It's costing me less than $1000 to borrow $35,000 for 36 months. That's a come up.

don't gotta explain yourself to pocket watchers on the coli lol. they think they have the blueprint and everybody should follow them.

 

[You Win Perfect]

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?

america has the WOAT public transportation system. most people need a car but this the coli where everybody is doin better than everbody else

 

[HookersandIceCream]

As in what? After all of that what's left?

Money that goes into a savings/2nd account. You are talking all this smack about money and what other people drive.

How much are you able to save after your bills and taxes? Each month?