Average Monthly Auto Loan Now $503 @ 68 months

[TLR Is Mental Poison]

is this because it broke altogether or it was a few decades old and needed to be replaced anyway?

It was a big unit... 4 tons.... regular system would prob be like $3-5K max

 

[TLR Is Mental Poison]

S/N: Africans is pulling ppls cards HARD in this thread. You aint posting shyt with out recipients in chea

What u mean...... negus seen my house breh. Nukka bout his business too. My parents came from nothing, I cant waste this

 

[KOOL-AID]

That's what I want a four dour black one

on me that's exactly what I want

 

[HookersandIceCream]

The dude who lives across the hall from me pays $550 a month for a 2007 BMW 335 w/ 93k miles . Got new wheels on it too and I know he paying another $100 a month for them.

I got rid of mines at 80K
I can imagine the horrors at 93K and paying $550 a month.

 

[Truefan31]

You can't drive a Roth IRA though

And if your credit is good it's not too difficult to find places that will give you a killer interest rate these days. My car loans are like $150/mo a piece @2.5% or some shyt. Meanwhile there are conservative blue chip stocks returning 8, 9, 12% on nothing but dividends I will gladly pay a 2.5% penalty to net 6-8%

And buying a new car is a stupid financial move period. That depreciation will kill you. If you can get a used car and an extended factory warranty you should be good. Average age of cars on the road in the US is like 11 years. You get a 5-7 year old Honda or Toyota or something you should be able to get like 4-5 years out of that bytch no problem. shyt my wife's car is an 11 year old VW and we haven't had any big issues over the last 3 years we owned it

The thought of blowing cash on a depreciating asset that gives no more functionality than a cheap used one makes me shudder. We just spent $12K replacing the central A/C in our house..... having cash on hand instead of tied up in bullshyt like cars is GOD in America

Just for kicks i did a roth ira calculator, starting at 25 until 62 (social security age), doing 5500 a year and i put a very conservative 8% earnings rate. At least 1.2 million. Over 1.2 million from about 200k in contributions. That grew TAX-FREE. And that's a low estimate, seeing how even the S&P 500 averages about 10% annually even after inflation.

Hope those new car payments are worth it

The Roth IRA just might be the GOAT retirement/investment tool for people, especially for beginners. Putting in after tax dollars, the earnings/growth is tax-free as well when you withdraw at retirement age. It's basically a savings account that has the ability to earn at least 10%, and if a catastrophic event happens, you can access and withdraw the contributions you've made at any time with no penalty or taxes.

i'm not saying your right or wrong, just that the less debt you have the better. Especially on a car loan. Don't even pay 2.5%, not even zero percent interest, just buy a car. I don't believe in buying new cars anymore, it's just not worth it unless you basically got no debt whatsoever (no mortgage too), at least 6 month emergency fund, 15-20% income retirement savings, college savings for kids if you have any, and a bunch of money to blow. Read up on millionaires. Just about all of them do not buy new cars while building their wealth/net worth. They save the money up and buy a car outright. OWN is the key.

The whole point of being debt free is minimizing risk. Anytime you have anything like a car loan, student loan, loans of any kind (mortgage too), it's a risk. Risk of foreclosure, repossession, etc. Debt means you are leveraging items with future earnings that have not been earned yet.

I understand the value of credit scores, but increasing credit should not involve car loans. Ever.

Being in debt just means that you're making someone else rich while you take all the risk.

 

[Standing on business]

Mods put some respek on my thread and feature it

 

[intruder]

Anybody gotta Jeep Wrangler, how much y'all shyt hittin for

That's what I want a four dour black one

I love them shyts but they cost $30K nicely loaded. Even with 0% (interest) that's a payment over $500 if youre financing it all

fukk THAT

 

[Black Bolt]

If you're not leasing or buying second hand you lost

 

[Family Man]

I bought a used 2015 Acura TLX for $26,000 with no money down. Interest rate is 1.45%. Payments is damn near $500 per month. I want to get rid of this shyt.
The previous whip that I had was a 2006 Honda Accord that was paid off but I gave it to my nephew cause he needed a car.

I want to get rid of the TLX and get some shyt like an Accord that I can pay off in a couple of years. I should have never gotten the TLX. I don't even really like it. shyt is overpriced. I'm usually on point with the finances but I felt this might have been an irresponsible purchase. Or it could be because I'm paying a car note after not having to pay one for such a long time.

 

[Raizan]

$278

 

[Larry Lambo]

Just for kicks i did a roth ira calculator, starting at 25 until 62 (social security age), doing 5500 a year and i put a very conservative 8% earnings rate. At least 1.2 million. Over 1.2 million from about 200k in contributions. That grew TAX-FREE. And that's a low estimate, seeing how even the S&P 500 averages about 10% annually even after inflation.

Hope those new car payments are worth it

The Roth IRA just might be the GOAT retirement/investment tool for people, especially for beginners. Putting in after tax dollars, the earnings/growth is tax-free as well when you withdraw at retirement age. It's basically a savings account that has the ability to earn at least 10%, and if a catastrophic event happens, you can access and withdraw the contributions you've made at any time with no penalty or taxes.

i'm not saying your right or wrong, just that the less debt you have the better. Especially on a car loan. Don't even pay 2.5%, not even zero percent interest, just buy a car. I don't believe in buying new cars anymore, it's just not worth it unless you basically got no debt whatsoever (no mortgage too), at least 6 month emergency fund, 15-20% income retirement savings, college savings for kids if you have any, and a bunch of money to blow. Read up on millionaires. Just about all of them do not buy new cars while building their wealth/net worth. They save the money up and buy a car outright. OWN is the key.

The whole point of being debt free is minimizing risk. Anytime you have anything like a car loan, student loan, loans of any kind (mortgage too), it's a risk. Risk of foreclosure, repossession, etc. Debt means you are leveraging items with future earnings that have not been earned yet.

I understand the value of credit scores, but increasing credit should not involve car loans. Ever.

Being in debt just means that you're making someone else rich while you take all the risk.

I don't understand how not financing a used car is "better" than financing a used car at a low interest rate. I do understand the less you pay in general the more you can put towards investments. But if two people both spend 15K on a used car and once person finances at a low rate and one person pays cash, how is the person who pays cash "ahead"? The person who finances technically has even more to invest than the person who pays cash, all other things being equal.

 

[THOT CATALOG]

This and the student loan situation and also Blackstone selling derivatives from mortgages make me think another crisis is near.

System is designed to keep people financially uninformed then bait them into taking on huge debt.

 

[Paradise50]

I'll probably forever drive used Hondas


Refuse to pay some shyt like that

 

[Sean312]

im never buying a new car again. getting something running and keeping it up.

 

[ORDER_66]

The dude who lives across the hall from me pays $550 a month for a 2007 BMW 335 w/ 93k miles . Got new wheels on it too and I know he paying another $100 a month for them.

let me guess it's a 3 series tho right?! What a waste...