i mean i was just saying at least take a year or two after buying your car to take that car note money and save it, THEN buy a new car. then you take your 1-2 years of car note plus your car and you at least got 10 gs to go towards a new car.
Pay off my current car? get a new whip? Car buying strategies
- Thread starter Huellz Santana
- Start date
If you budget how much money you could afford, after you pay off the car, put that monthly payment into a savings....youre effectively paying a carnote to yourself. When you get a comfortable amount aside, buy a new (used) car on note, or use that pile of cash to buy a car free and clear.
You cant go wrong either way imo
You cant go wrong either way imo
lol
tofuspeedstar
Bosozoku Champion
Pay the Accord off, drive it til it dies, save paper.
Upgrade in Cash.
Upgrade in Cash.
The david ramsey wayPay the Accord off, drive it til it dies, save paper.
Upgrade in Cash.
you spend all that money a month or period to impress people you don't even know. your friends and family see you in the car for the first time and give you your props then from then on its just your car. nothing special anymore.
this is the psychology of our society. we've gotten to the point now where we will buy a car that cost several thousand dollars not because we need it but to impress others or because we're bored. that's a huge financial decision to make for such weak reasons.
Dave would have you sell that Accord before it dies once you've gotten close enough to buy the next car up on the chain.The david ramsey way
Data-Hawk
I have no strings on me.
Pay if off.... with the extra money you save every month it'll be like a job promotion.
I have 9G left on mine, after i'm done I dont plan on getting a new car until the car wont move anymore.
I have 9G left on mine, after i'm done I dont plan on getting a new car until the car wont move anymore.
You dont need a new car. Pay that shyt off and stack ya paper
Him Duncan
Hugh G Reckshon
all that saving buy a car in cash shyt sounds good, but if YOU want and can afford it, do what makes you happy. Hard to upgrade if you getting a cash car
Not saying go get a bwm 7 series but if you can afford a $200 a month payment on a $12,000 car fukk it
Not saying go get a bwm 7 series but if you can afford a $200 a month payment on a $12,000 car fukk it
Huellz Santana
Shocking
also lemme say this, as much as having another $400 in my account every month would be cool, its only going to collect dust in my savings
and that's not too bad cuz ive saved up 20k doing this
but i aint investing my money. imma be honest. the stock market is like japanese lettering to me. i DO need to start an ira but i dont expect to live a long life (60+ yrs old)
and that's not too bad cuz ive saved up 20k doing this
but i aint investing my money. imma be honest. the stock market is like japanese lettering to me. i DO need to start an ira but i dont expect to live a long life (60+ yrs old)
all i know about investing is go with mutual funds and dollar cost average meaning invest the same amount monthly. if the market goes down and you dollar cost average as the market falls you get more shares then when it rises again your shares are worth more.
|r|e|a|d|
Hail!!
I have a 2006 honda accord coupe with 100K miles on that I owe about $7000 on. I could easily pay this off now and roll with the car for a minute.
But on the other hand I want a new car. But I don't want another car note.
Advice? I'm not sure how much trade in I'd get, nor do I want to keep two cars since I'm by myself.
How do you guys make sure you get the most bang for your buck when it comes to whips? Yall upgrading constantly and just taking the car note?
Suze Orman says you should buy all cars with cash and if you can't that means you can't afford that car.
I'm financially responsible enough to take on payments and pay it off in a few years.
Since it seems like your on a mission to get a new whip, and you have some cash to spend I would recommend doing some research and finding a lease special then flipping it from there.
Now follow me here, you 2K flipped right now you aint gonna get more than 5k to 5.5 k for your current whip so the first thing is to get that right or be prepared to cover that when getting your new joint. Now when most companies advertise lease specials they trying to move units. When they do that usually(and there is where research comes in) you will be getting the whip under invoice. Yeah Yeah I know leasing aint owning but as sum1 said as long as you making payments the bank owns it.
Back to the lease special, find 1 you like put sum cash on it then you have a choice. You only have to pay mileage and damage penalties if you turn the car in. if you decide to keep it then you finance out the residual plus wha u still owe or you trade it in vs.that same number.
for example: I copped my first whip in '06 an '03 TL-S @ 17.5 paid it off in 2 with eyes on a Audi A5 which was droppin end of '08. well low and behold youngin got preggers so coupe dreams are gone and I need a sedan.
Traded in the TL which was worth like 12 by then for a '08 328x1 lease special. Loss 2k or so on fees the other 10k rolled into the lease.
2010 took the whip in for service and saw they had a 335xi that i liked traded in the lease, which was over in miles btw. As of right now im up 14k give or take based on wha kbb says my car is worth vs wha i owe. Tho I am planning on keeping it it's nice to have options.
Explain how to BMW LEASE process in detail.
For a new 12 3series I was quoted from BMW lease $4500 down @ $450 month.
But if I double down for $9K it goes down to $350 month?
And that extra $4500 is held by BMW program so I can ride new and swap out as long as BMW can pass certified inspection and be taken back stock condition?
And I can get back the $4500 at the end option, or roll it over into a finance because at that point I would have good history?
This sound too good to be a real deal, but they swear a lease is the way to go to build equity up for cheaper payment.
I can easily find a used KIA to on the side though BUT I NEED A CLEAN WHIP IN MY LIFE.
If I couldn't afford something used long term it doesn't matter what I buy because mechanics are going rip my budget with little nagging problems every month.
I want to build my credit one good time so I can buy a house etc.
A clean, decent modern car is going to cost $7000 a year minimum to maintain anyway.
That sound like $22K total to ride a brand new for 3 years and have some good credit to get another BMW or buy out what I already have for another $4500+my $4500 = $9000 by that time it will depreciate value?
Is that good eating or just a bunch of hustle?