I have a friend that is an idiot...

[Bones]

....and no it's nobody here.

Friend in KC. Married two kids, 11 and 12 is always buying **** they don't need on credit and the MIL bails them out from time to time.

Cliff notes. Wife works and her drive is 2 miles...no ****. Has an 04 mini SUV, kia or something. paid for and only has 20K miles! She "needs a new one to haul kids to soccer tourny's" :

He commutes 35 miles one way and has a plain jane F150 with well over 100K miles on it. He also bought a motorcycle almost 2 years ago, new full price with warr., financed it all. 07KLR650 worth maybe 3200 today, I bet he paid 6 for it.

Anyway, they go out and trade her car off for a Honda SUV, 3rd seat, DVD, leather, etc. 35K and tells me they got an 84 month loan! EIGTHY FOUR MOUNTS!!! I don't even want to know the payments, but he was complaining about $50/mo laughing1

I've done some stupid **** before, but 84 months! No wonder people can still drive new cars that I know I can't afford off the lots!

 

[vanguard]

....and no it's nobody here.

Friend in KC. Married two kids, 11 and 12 is always buying **** they don't need on credit and the MIL bails them out from time to time.

Cliff notes. Wife works and her drive is 2 miles...no ****. Has an 04 mini SUV, kia or something. paid for and only has 20K miles! She "needs a new one to haul kids to soccer tourny's" :

He commutes 35 miles one way and has a plain jane F150 with well over 100K miles on it. He also bought a motorcycle almost 2 years ago, new full price with warr., financed it all. 07KLR650 worth maybe 3200 today, I bet he paid 6 for it.

Anyway, they go out and trade her car off for a Honda SUV, 3rd seat, DVD, leather, etc. 35K and tells me they got an 84 month loan! EIGTHY FOUR MOUNTS!!! I don't even want to know the payments, but he was complaining about $50/mo laughing1

I've done some stupid **** before, but 84 months! No wonder people can still drive new cars that I know I can't afford off the lots!

I like your friend. People like him are the reason I invested in a financial select sector spider. ;D

 

[InDaShop]

HA, I know man. We went to buy my wifes Tahoe back in July. The loan officer worked it up as an 84 month loan. I was like whoa dude. 36 month, and his eyes got huge, like seriously? He said we hardly do those anymore. 60,72, or 84.
Thats where the money is made on cars these days, its all in the financial instument interest.

I did see that Ford, and Dodge have been running some 0% for 60 months **** lately though.

 

[Bones]

I did see that Ford, and Dodge have been running some 0% for 60 months **** lately though.

Still 0% at 60 months for a 40K CTD is $670/mo! Even a 35K car would be $420 and 25K is cheap anymore. I'll keep my Vitty until it's in the ground...I hope.

 

[wontwork]

Call me crazy, but I financed for 60 months on my new truck. Did it like this becuse if I would have went less Chevy was not going to let me have all the rebates and the interet was going to be about 6% so I went 60 months for 1%. Going to take a little longer to pay for, but I keep a truck until it falls apart. My payments are lower and hardley no interest is being payed.

 

[InDaShop]

60 months at 1% is awesome. You did the right thing. That wasn't an option for me, bastard!!!!!

 

[vanguard]

Often times they ofer 0% financing or cash back. I take the cash back and buy the car/truck with cash or against the heloc. The last two I bought were paid off in less than a year (3 and 9 months). When I'm paying off a car loan I put aside $150 a month as my "car payment" to save up for the next one.

On the downside, my 03 taco isn't as cool as most of the tow rigs I see in this hobby. But it's pulled my buggy through AL, GA, SC, NC, MD, DE, DC, KY, TN, VA, and PA so it can't be too bad.

 

[under_psi]

i bought my used F150 for $24K....got 4.9% on it with a $500 down payment....that was good...

now, i am out of warranty....i hate it b/c i have had a TON of little things go wrong with my truck and they keep getting a little bigger as they go...

i want a newish lower mileage truck...don't need one, but i want something with a warranty for more than 20K mile of ownership....

i am looking around and i dont have perfect credit, so i can really only deal with ford, dodge, or chevy....KIA and hyundai dont have anything i can tow with right now.....)

i tried to go get one of the new tundras in november and they quoted me 18% interest...

now, i have more funny noises from the ford, owe about 18K on it...and am close to being ****ed...

i think i am going to try and get a diesel, they just tow better, and are less of a worry when towing...i like the gas $ of regular gas beter, but hell, it aint good either....if you are already $85 to fill up, may as well pay $100 AND have something that gets better mileage whilst towing...

but even with a good deal on a dodge, per say, i will still go from a $480 note to a ~$6XX.00 note....

OUCH!!!

the rich get richer and you know the rest.....

 

[kid rok]

I suck at buying cars, those sells men get me everytime. I am the sucker that gets talked into buying what he can't afford. After saying that, I have financed my last truck. The Avalanche will be payed off shortly and I will be car debt free. Buying new a car is always a bad deal, you put 5 gs down and as soon as you leave the lot the price of your car drops. It's almost like throwing the 5gs out the window. I have always got GM pricing I never put money down, and finance five years. Each year we depreciate or take gas off our taxes. So it doesn't make a whole lot of since to put money into a car to me. Instaed of putting money down on a vehical you could take that money and invest it. Then again I'm broke and suck at managing money , thats why I'm broke.
Just thougt of something, here we are talking about how we shoudn't be throwing money we don't have into a new car that gets us to our job and all the other things we can,t walk to. When most of us on here will go out and buy a set of tires or axles that cost $1000+and turn around and break or tear the **** out of them the next week end. Where's my I'm with stupid smiley?

 

[Bones]

Valid points.

Not only am I in the land of limited good wheeling but by the time I but a trailer and tow slut not to mention a rig to wheel. I'd be so far in debt it's stupid. To top that off I don't have room for all that anyway at my house. More $$ to store it or rent shop space.

I can't keep up with the Jone's