Thread:
What's your car payment
01-04-2024, 02:52 PM
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#61
01-04-2024, 02:59 PM
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#62
Paid cash for all my vehicles.
Originally Posted By Destor⏩
Yeah, but hindsight 20/20. We all know stocks should have dumped this year. You made the best decision that you felt at the time. I did the same thing. And that $80k could easily go down in the next year unless you took profits.Paying off a car early is one of the bigger money-losing moves I've made, though it was good for mitigating risk at the time
I threw $14k at a car loan back in 2020 when the pandemic hit. If I did with that $14k exactly what I did with the rest of my money at the time in the stock market, it would be worth like $80k today rather than saving like 3%
I threw $14k at a car loan back in 2020 when the pandemic hit. If I did with that $14k exactly what I did with the rest of my money at the time in the stock market, it would be worth like $80k today rather than saving like 3%
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01-04-2024, 03:09 PM
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#63
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$0.
I have paid cash for every car I've owned.... Including my first car in HS which I think was like $1,500 used... But this was pre-clown times.
I have paid cash for every car I've owned.... Including my first car in HS which I think was like $1,500 used... But this was pre-clown times.
01-04-2024, 03:32 PM
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#64
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Originally Posted By SipNPiz⏩
Its not a negative return, a vehicle isn't an 'investment' in any way. Its an operating cost to facilitate earning an income at best, or a convenience/hobby you elect to pay for at worst.Car payments are for broke people. Even at 0% it has a -10% return due to depreciation, 0% is a cope.
Not learning how to be smart with credit or leverage keeps poor people broke, lenders will let you hang yourself with debt but there is a time to use other peoples money.
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01-04-2024, 03:38 PM
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#65
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$0 I just am still driving the same car from when I was 18 lol
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01-04-2024, 03:39 PM
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#66
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Originally Posted By Condo41⏩
I get the sentiment, you can go crazy worrying about opportunity costs. The difference between the invested return on a few grand vs the $600 discount you get back day one is hardly worth worrying about.I don't believe in the APR/APY strategy I think it's a trap.
In fact I have a cashiers check on my desk for $6K I'm about to give to the orthodontist to save $400 by paying in full up front vs taking a 25 month no interest payment plan.
I know the math. I'm doing it anyway, I hate debt.
In fact I have a cashiers check on my desk for $6K I'm about to give to the orthodontist to save $400 by paying in full up front vs taking a 25 month no interest payment plan.
I know the math. I'm doing it anyway, I hate debt.
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01-04-2024, 03:40 PM
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#67
01-04-2024, 03:42 PM
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#68
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$0.00
Never had a car payment.
Never had a car payment.
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01-04-2024, 03:52 PM
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#69
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Originally Posted By GerbilFarmer⏩
This is bad-ass.$0 I just am still driving the same car from when I was 18 lol
I always think how cool it would have been to buy like a 2004 honda civic brand new as my first car, and to still be driving it today.... It would really be a cool story, bro.
01-04-2024, 04:16 PM
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#70
01-04-2024, 04:17 PM
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#71
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Originally Posted By wickedman⏩
Interest rates are terrible$1500
01-04-2024, 04:23 PM
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#72
01-04-2024, 04:24 PM
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#73
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No car payment.
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01-04-2024, 04:25 PM
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#74
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Originally Posted By Destor⏩
Nobody can guarantee or predict what the stock market will do in a future 3-year period. And without a car payment, it should've meant that much more investing.Paying off a car early is one of the bigger money-losing moves I've made, though it was good for mitigating risk at the time
I threw $14k at a car loan back in 2020 when the pandemic hit. If I did with that $14k exactly what I did with the rest of my money at the time in the stock market, it would be worth like $80k today rather than saving like 3%
I threw $14k at a car loan back in 2020 when the pandemic hit. If I did with that $14k exactly what I did with the rest of my money at the time in the stock market, it would be worth like $80k today rather than saving like 3%
01-04-2024, 04:26 PM
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#75
01-04-2024, 04:28 PM
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#76
01-04-2024, 04:31 PM
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#77
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Originally Posted By nutsy54⏩
BrootalRight before he suffered a massive depreciation loss by driving it off the new-car lot...
Originally Posted By Retoaded⏩
Not sure.. Do you get to keep the car if you leave?If I have a car payment but a work car allowance covers it does that count?
Originally Posted By PShift5⏩
Damn you bought it recently?17 Tacoma $438 a month bought it at 129k miles fookk this economy
01-04-2024, 04:32 PM
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#78
01-04-2024, 04:35 PM
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#79
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Originally Posted By PShift5⏩
Prices are brutalLast month best deal I could get on a Taco my Corolla **** the bed
01-04-2024, 06:19 PM
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#80
01-04-2024, 06:26 PM
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#81
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bout 850 at 9.1%
chevy silverado with upgraded suspension and wheels package
chevy silverado with upgraded suspension and wheels package
01-04-2024, 07:03 PM
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#82
01-04-2024, 07:06 PM
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#83
01-04-2024, 07:11 PM
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#84
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Originally Posted By Xgamer791⏩
Still making payments or paid off$590
2017 Ford Fusion Sport.
Brand new off the lot.
2017 Ford Fusion Sport.
Brand new off the lot.
01-04-2024, 07:13 PM
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#85
01-04-2024, 08:51 PM
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#86
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$426/mo on a Camry. It’s a 2023. Got it back in May…. great on gas mileage but that lack of power tho :/ lol
honestly considering either a scat pack charger or if I can’t get a car with some power, just going back to a truck
I’m considering taking on a higher payment and maybe splurging a lil, but that’s only cuz I don’t have rent or a mortgage and the auto loan is literally my only debt…. My house is paid off
I feel like if I wanna splurge a lil on a car, it’s not really all that big of a deal considering the circumstances… obv wouldn’t consider it tho if I was paying on a place to stay
honestly considering either a scat pack charger or if I can’t get a car with some power, just going back to a truck
I’m considering taking on a higher payment and maybe splurging a lil, but that’s only cuz I don’t have rent or a mortgage and the auto loan is literally my only debt…. My house is paid off
I feel like if I wanna splurge a lil on a car, it’s not really all that big of a deal considering the circumstances… obv wouldn’t consider it tho if I was paying on a place to stay
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01-04-2024, 08:53 PM
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#87
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Originally Posted By nutsy54⏩
Is this still applicable in today's car market? Seems like used cars 2-3 years old go for just as much as a new car.Right before he suffered a massive depreciation loss by driving it off the new-car lot...
01-04-2024, 09:00 PM
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#88
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01-04-2024, 09:03 PM
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#89
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Originally Posted By nutsy54⏩
Yeh good points made ITT to counter the idea that it wasn’t the best moveNobody can guarantee or predict what the stock market will do in a future 3-year period. And without a car payment, it should've meant that much more investing.
In the end, eliminating debt is never that bad of a move
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