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Forum » People who buy cars with cash outright are subhuman.
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Thread: People who buy cars with cash outright are subhuman.

post 1505077811 05-17-2017, 05:54 AM
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#31
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brb of all brbs

all have its cons and pros
post 1505077881 05-17-2017, 05:55 AM
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People who are so eager to line the pockets of criminal bankers are disgusting.
#
post 1505077931 05-17-2017, 05:56 AM
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Originally Posted By BustaCapp⏩
A car should not and cannot be an investment (unless you are a car dealer/classic car restorer).



Maybe where you live you still drive old fashioned pushrod engines etc. That's fair enough, but where I live even qualified mechanics can't fix many complex issues and defer you to to the dealership who then charge thousands for a replacement lighbulb etc.



Red. Red. Red.



Who claimed to make money from buying a car? WTF? ??!!

'fuk outta here with your extremely irrelevant utterances.

It's all about convenience.

Renting is basically where it's at.But only with vehicles.

Just LOL @ most of the clueless pricks ITT who probably pay cash for cars but rent their homes LMFAOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO OOOOOOOOO!!!!!!
I own my own home (apartment) no debt on it, as well as rentals (leveraged) and 347k in shares / p2p lending / managed funds, / private equity.
Currently saving hard to make that 347k into 400k by year end when I will draw down further on my equity in my rental property (@ 5.5%) and use it to buy a $70k car new.

I spose its the same as selling $70k worth of shares, paying cash and then borrow $70k at 5.5% and buying back $70k of shares.

At some point when you have worked hard, saved and invested for 15 years, you have to think, I am either going to spend it now, spend it later, or not spend it at all.

FYI, one of THESE!!!

post 1505078051 05-17-2017, 05:58 AM
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Originally Posted By 8eggs⏩
poverty crew checking in

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the good thing about old cars is u can treat them like old cars brah
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post 1505078411 05-17-2017, 06:03 AM
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#35
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It's quite simple folks.

Let's say you have 10k in savings:

- Spend it on a deposit for a house instead of a car.
- Rent the house out to a mouth breather.
- Mouth breather pays the mortgage plus a little more towards....

a) Your monthly bus fare (£100 per month)
b) Your lease car (as little as £120 per month)

It's not rocket science.

Meanwhile all those idiots who advocate paying cash for cars probably rent their homes.

....you couldn't make it up!
fist yourself
post 1505078421 05-17-2017, 06:04 AM
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Originally Posted By Gizzyhardcore⏩
I own my own home (apartment) no debt on it, as well as rentals (leveraged) and 347k in shares / p2p lending / managed funds, / private equity.
Currently saving hard to make that 347k into 400k by year end when I will draw down further on my equity in my rental property (@ 5.5%) and use it to buy a $70k car new.

I spose its the same as selling $70k worth of shares, paying cash and then borrow $70k at 5.5% and buying back $70k of shares.

At some point when you have worked hard, saved and invested for 15 years, you have to think, I am either going to spend it now, spend it later, or not spend it at all.

FYI, one of THESE!!!

You're going to pay 70k for an econobox? LMFAO!
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post 1505078581 05-17-2017, 06:06 AM
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Cash is nice but when banks are loaning money at 2.0% why would you not use their money?

Just saying.
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post 1505078591 05-17-2017, 06:06 AM
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Originally Posted By samsbolton⏩
Ok. Tell us the deal you have on your vehicles and the misc will tell you how smart you have been. Srs.
Fuk off slaphead you own one house (gifted to you by your dead grandmother) and have a mortgage on another.

You also have no family and will die alone in a puddle of piss surrounded by cats.

Trump you ain't.
fist yourself
post 1505079091 05-17-2017, 06:14 AM
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Luckily I only spent 2 months of savings to buy my car outright, should last me about another 100k miles easy. Spent about 5 months looking tho, but at least it was spent killing off my prior ride. Cant skimp on insurance when you dont own it outright.
post 1505079131 05-17-2017, 06:14 AM
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Originally Posted By Kev1972⏩
You're going to pay 70k for an econobox? LMFAO!
yeah wtf?

70k NZD is about 50k USD. even then, the MSRP for a 2017 ford fiesta is about $13.5k USD in the states.
post 1505079831 05-17-2017, 06:23 AM
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Originally Posted By Kev1972⏩
You're going to pay 70k for an econobox? LMFAO!
its a fast econobox that does skids

and yeah $70k NZD, I think they are $35k in the US.

and its a maybe, I already have an audi RS4, so it is slightly excessive having another car
post 1505079951 05-17-2017, 06:25 AM
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#42
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Originally Posted By RedSoxfan1978⏩
Cash is nice but when banks are loaning money at 2.0% why would you not use their money?

Just saying.
this.

Borrow from the bank straight into vanguard. Or this even, do you even peer to peer lend?



16.7% after tax
post 1505080051 05-17-2017, 06:27 AM
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**** a car payment SRS
post 1505080161 05-17-2017, 06:28 AM
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#44
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Originally Posted By BustaCapp⏩
It's quite simple folks.

Let's say you have 10k in savings:

- Spend it on a deposit for a house instead of a car.
- Rent the house out to a mouth breather.
- Mouth breather pays the mortgage plus a little more towards....

a) Your monthly bus fare (£100 per month)
b) Your lease car (as little as £120 per month)

It's not rocket science.

Meanwhile all those idiots who advocate paying cash for cars probably rent their homes.

....you couldn't make it up!
10k for a house deposit?? u wot m8

In what as*hole of the world do you live where that is possible?

Leasing is not the best option for most people... nowhere near. At least where I am. If you want a new car then sure. But you will be paying for that luxury
post 1505080401 05-17-2017, 06:32 AM
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#45
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vehicles arent an investment at all so you're technically throwing half what you paid down the toilet to begin with. 1-3% interest on middle class priced vehicle($15-25k) is 100% acceptable
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post 1505080591 05-17-2017, 06:34 AM
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Buy a new Honda/Toyota. Close to 0% financing. Drive for 10-15 years, repeat.
post 1505080631 05-17-2017, 06:34 AM
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#47
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I heard that dealerships will give better deals to financers because they make money off interest. But op went full potato when he said lease was a better option lmfao. The ONLY reason you should lease is if 1. You're a car guy and know you're wasting your money on a brand new car but it's what you enjoy. 2. For your career where what you drive needs to be presentable.

But not buying something with cash when you can is poor person logic. Thinking debt is as long as you can pay it off is just dumb.
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post 1505080741 05-17-2017, 06:35 AM
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#48
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So are you suggesting that you pay to rent a car for the rest of your life?

Buy a cert-preowned with a dealer warranty on it.

brb avoided the 3 year new car depreciation
brb less than 30k miles
brb still looks brand new
brb $9000 over 3 years not vanishing once lease it over
brb a well maintained quality car lasts 15-20 years
brb leasing is not financially intelligent for the modern middle class american
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post 1505080981 05-17-2017, 06:38 AM
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I'd rather pay cash because I don't want to see a big payment getting drafted from my account every month, reminding me what a dumb purchase I made.

Rather pull he trigger once, then enjoy the vehicle with no ragrets (no neck tattoo)
post 1505081671 05-17-2017, 06:47 AM
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#50
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I think the only real way to win in acquiring a car is to outright buy a reliable used model with low miles. BMWs and Mercs are notorious for losing something like 40% of their value in the first three years. that's insane.

If I were to get a car now, I'd seek out a 2013 Cadillac ATS or 2013 Audi A5. Both can be found with 30k~ miles and loaded with ALL the fixins (premium nav/sound, sun roof, sexy rims) for approx 25,000 freedom dollars. The 2017 A5 loaded is $52,000.
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post 1505081691 05-17-2017, 06:47 AM
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Meh, bought an R33 GTR in 2010 for $20k cash, now its worth around $40k unmodified lol. All the R34s are getting up to 100k, more expensive then what they were back in 2004
post 1505082271 05-17-2017, 06:55 AM
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Is he arguing that paying cash for a car is unwise because its value depreciates...but financing the depreciating asset is smart?
post 1505082421 05-17-2017, 06:57 AM
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Originally Posted By Aesthetical⏩
So are you suggesting that you pay to rent a car for the rest of your life
Pretty much.

Owning a car outright in 2017 is laughable.

Take a look at people who own their own cars. They're either old or they smell.

Have fun sitting amongst someone else's rolled-up boogers, fart-stains and finger nails.
fist yourself
post 1505082551 05-17-2017, 06:58 AM
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Originally Posted By jamalfudge⏩
People who are so eager to line the pockets of criminal bankers are disgusting.
Banker crew. You mad?

Nothing rots like a car does.
post 1505082951 05-17-2017, 07:02 AM
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Possibly the dumbest thread I've ever seen. Not sure if op is trolling.

I only buy cars outright. It's not an investment, I do it for fun. I have a fukton of money left over. Lol @ people like op who want to make a bunch of money and just let it rot in their account. Money doesn't matter if you only spend it on "smart" things.
post 1505083181 05-17-2017, 07:05 AM
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Lol at people ITT who don't understand how to use leverage properly. The interest rate for financing a car is a pittance nowadays. I financed mine for <1%. I can easily outearn that just by putting my money in a 30 year gov bond ETF and collecting the dividend check for the financing term.

Not all debt is bad, people. The problem comes when people use debt to bite off more than they can chew at rates that are unsustainable, but lol at worrying about financing something at 1-2%.
post 1505083491 05-17-2017, 07:10 AM
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Originally Posted By samsbolton⏩
Ok. Tell us the deal you have on your vehicles and the misc will tell you how smart you have been. Srs.
He doesnt have a car because work just lets him drive the mail van everywhere.
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post 1505083611 05-17-2017, 07:12 AM
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Originally Posted By BustaCapp⏩
It's quite simple folks.

Let's say you have 10k in savings:

- Spend it on a deposit for a house instead of a car.
- Rent the house out to a mouth breather.
- Mouth breather pays the mortgage plus a little more towards....

a) Your monthly bus fare (£100 per month)
b) Your lease car (as little as £120 per month)

It's not rocket science.

Meanwhile all those idiots who advocate paying cash for cars probably rent their homes.

....you couldn't make it up!
how much are fukkin houses in the north fam


i need 50k deposit and at least salary of 50k/year (gives me mortgage of 150k) just to get a chitty 1 bedroom flat.....





also think about it - mortgage is rental of money..... so surely renting house is a good thing by your logic?
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post 1505085601 05-17-2017, 07:35 AM
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#59
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Originally Posted By RmBoyos⏩
how much are fukkin houses in the north fam
It's irrelevant really when you can get a 100% mortgage.

http://www.money.co.uk/mortgages/100...FeK97QodAYQPwg
fist yourself
post 1505085671 05-17-2017, 07:37 AM
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just lol at anyone owning a new car, wether purchased or leased.
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