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7 million Americans are 3 months behind on car payments
05-18-2019, 06:33 PM
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#91
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Paid cash for a 5 year old used one. Pretty simple concept tbh
05-18-2019, 06:37 PM
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#92
- ErnieMccracken
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Originally Posted By HMFIC_BROWSIN⏩
Most people live hand to mouth, boyo.Paid cash for a 5 year old used one. Pretty simple concept tbh
05-18-2019, 06:40 PM
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#93
Originally Posted By THATSfunnyOP⏩
lmfao @ financing a 5k car from 2013Have a 2013 60k mile Nissan Sentra I financed for 24months. Payments barely make a dent in my wallet and I have 6 months to go.
I purchased it for 5k.
People are crazy dumb with their money.
I purchased it for 5k.
People are crazy dumb with their money.
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05-18-2019, 06:50 PM
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#94
- tunafishha
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Originally Posted By otakutrevan⏩
its probably around 10k in fixes after everything. At that price point just for engine parts, Id rather get a car thats 16k barely used. Your looking at good barely used lexus's at 15kI wish rebuilding engines and tranmissions was more popular was. Get a late 90s or early 2000s Honda with a decent chassis. Throw in a brand new or rebuilt engine.
brb essentially you have a new car for less than 10k total
brb you're good for at least 200k miles
brb essentially you have a new car for less than 10k total
brb you're good for at least 200k miles
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05-19-2019, 01:28 AM
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#95
- MikeLowrrrey
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Originally Posted By otakutrevan⏩
Imagine being so cheap you're talking about replacing the engine and transmission instead of getting another used car. What do you guys even spend money on? Surely you have some hobbies that costsI wish rebuilding engines and tranmissions was more popular was. Get a late 90s or early 2000s Honda with a decent chassis. Throw in a brand new or rebuilt engine.
brb essentially you have a new car for less than 10k total
brb you're good for at least 200k miles
brb essentially you have a new car for less than 10k total
brb you're good for at least 200k miles
Just get a Ford Model T and call it a day.
05-19-2019, 01:55 AM
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#96
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Originally Posted By FastBack6⏩
I love how you guys let the jealousy seep out when you post.
If you can’t afford a $300-$400 lease payment for a nice, brand new car, maybe it means you need to step your game up instead of judging people who can afford it no problem. How about that?
I signed a 3 year lease on a $48,000 truck for under $400 a month. Totally worth it and easily affordable. I wouldn’t drive around a Honda ****box but I also don’t make $9 an hour.
If you can’t afford a $300-$400 lease payment for a nice, brand new car, maybe it means you need to step your game up instead of judging people who can afford it no problem. How about that?
I signed a 3 year lease on a $48,000 truck for under $400 a month. Totally worth it and easily affordable. I wouldn’t drive around a Honda ****box but I also don’t make $9 an hour.
Originally Posted By kingHanley⏩
lol u guys r so dumb, strong insecuritymy brother is an electrical engineer , makes $75,600 a year and leases an Audi. Pays about $450 a month . while he’s driving and Audi and slaying sloots, you’re out there driving a 1999 Honda Civic slaying your hand ******* .
no sht if you can afford it then go ahead, im talking about people making 30-40k a year leasing a vehicle they clearly cant afford.
wow, an audi, congrats! i had one a year after highschool. 75k a year is nothing to brag about
you can lease an 2019 amg c63 benz for about 1k a month, its not that hard if your're not poor
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05-19-2019, 03:12 AM
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#97
- VinnyPazRules
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Originally Posted By messomi⏩
Really? People are paying $3000 a month for a studio apartment, Average starter home is $500,000 with average incomes of $30,000.A record 7 million Americans are 90 days or more behind on their auto loan payments, the Federal Reserve Bank of New York reported Tuesday, even more than during the wake of the financial crisis era.
Economists warn this is a red flag.Despite the strong economy and low unemployment rate, many Americans are struggling to pay their bills.
"The substantial and growing number of distressed borrowers suggests that not all Americans have benefited from the strong labor market," economists at the New York Fed wrote in a blog post.
A car loan is typically the first payment people make because a vehicle is critical to getting to work, and someone can live in a car if all else fails. When car loan delinquencies rise, it is a sign of significant duress among low-income and working-class Americans.
"Your car loan is your No. 1 priority in terms of payment," said Michael Taiano, a senior director at Fitch Ratings. "If you don't have a car, you can't get back and forth to work in a lot of areas of the country. A car is usually a higher priority payment than a home mortgage or rent."
https://www.investmentwatchblog.com/...t-the-economy/
Economists warn this is a red flag.Despite the strong economy and low unemployment rate, many Americans are struggling to pay their bills.
"The substantial and growing number of distressed borrowers suggests that not all Americans have benefited from the strong labor market," economists at the New York Fed wrote in a blog post.
A car loan is typically the first payment people make because a vehicle is critical to getting to work, and someone can live in a car if all else fails. When car loan delinquencies rise, it is a sign of significant duress among low-income and working-class Americans.
"Your car loan is your No. 1 priority in terms of payment," said Michael Taiano, a senior director at Fitch Ratings. "If you don't have a car, you can't get back and forth to work in a lot of areas of the country. A car is usually a higher priority payment than a home mortgage or rent."
https://www.investmentwatchblog.com/...t-the-economy/
People only have themselves to blame. They allow themselves to work harder and longer for less and less money then pay more and more of it out for basic things without question.
05-19-2019, 03:14 AM
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#98
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Nobody want to make any waves or ruffle any feathers
05-19-2019, 03:17 AM
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#99
05-19-2019, 03:21 AM
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#100
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Originally Posted By MikeLowrrrey⏩
You're spitting in the wind bro. The system is rigged and people will violently reject any evidence that proves they're complicit moronsIt's funny how you mention people taking out student loans
Considering the posts on the misc and looking at job prospects, it's almost like you HAVE to take out a student loan. What else are people supposed to do? Work minimum wage and save up? What about other living expenses like rent and utilities
The job market and college have pushed people to go to college. You're a loser if you go to trade School. CC is a good alternative, but that's still money out of pocket
Considering the posts on the misc and looking at job prospects, it's almost like you HAVE to take out a student loan. What else are people supposed to do? Work minimum wage and save up? What about other living expenses like rent and utilities
The job market and college have pushed people to go to college. You're a loser if you go to trade School. CC is a good alternative, but that's still money out of pocket
05-19-2019, 03:39 AM
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#101
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Originally Posted By SippyCups⏩
Correct. No one on this forum has ever even had a mortgage of any kind and 93% are so edgy they have figured out how to not pay a penny in property taxes. In fact, the towns they live in actually pay them for choosing to live there in most cases.Every miscer is debt free and we all paid cash for our vehicles. I'm not sure how this applies here
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05-19-2019, 04:34 AM
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#102
05-19-2019, 04:54 AM
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#103
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THe problem is ppl are getting cars that they have to make $500+ a month car payments for. That **** is ridiculous....I always try to stay under $250. Hell I just got a 2018 Toyota Camry and pay $212 a month because I put down a large down payment so I wouldn't be paying so much a month. I wanted a reasonable monthly payment.
05-19-2019, 05:30 AM
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#104
Originally Posted By Apollo
$500/month on a new car sounds alluring. But not when you consider that there's interest factored in, and the depreciation rate is absurd. Furthermore, the $500/month is for 6 years.... so you'll eventually be paying $500/month for a vehicle that is 4-5 years old with 60k+ miles... NOT WORTH IT. People should just go to autotrader or something, and then filter on Kelly Blue Book "Great Value" pricing, and be willing to buy cars that are several years old as opposed to 0-1... and pay cash straight up for it, not a monthly fee with interest.THe problem is ppl are getting cars that they have to make $500+ a month car payments for. That **** is ridiculous....I always try to stay under $250. Hell I just got a 2018 Toyota Camry and pay $212 a month because I put down a large down payment so I wouldn't be paying so much a month. I wanted a reasonable monthly payment.
05-19-2019, 05:47 AM
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#105
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I don't mind having car payments. Paying around 600 a month now. Japanese though so it'll last. Previous Audi was a piece of junk, that was the big mistake.
05-19-2019, 05:48 AM
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#106
- ChrissJ
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I'm somewhat guilty.. I bought an Audi A5 Cabriolet around 2 years ago which had on finance.. The payment was only £220 a month but then its insurance and it was a petrol.. Literally was out of petrol so fast and id spend ALOT of petrol because most of my time I'm travelling. I finally got rid of it yesterday even tho i loved it.. The car i got was the same monthly price but it's a diesal and audi did HALF of the MPG so I'm saving 3-5k a year now on the tax/fuel/insurance costs overall... That's how i look at it anyway.
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05-19-2019, 05:52 AM
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#107
- ANumber1
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Originally Posted By VinnyPazRules⏩
Don't be such a dramatic bish.Really? People are paying $3000 a month for a studio apartment, Average starter home is $500,000 with average incomes of $30,000.
People only have themselves to blame. They allow themselves to work harder and longer for less and less money then pay more and more of it out for basic things without question.
People only have themselves to blame. They allow themselves to work harder and longer for less and less money then pay more and more of it out for basic things without question.
Median home - not starter homes, all homes - is $225,000. Median 1BR apartment is $1,000. Median income is $45,000 for full-time workers.
For people who aren't making potato decisions, things are fine.
Nah, fukk that. I’m not doing that.
05-19-2019, 07:05 AM
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#108
Originally Posted By VinnyPazRules⏩
Really? People are paying $3000 a month for a studio apartment, Average starter home is $500,000 with average incomes of $30,000.
People only have themselves to blame. They allow themselves to work harder and longer for less and less money then pay more and more of it out for basic things without question.
People only have themselves to blame. They allow themselves to work harder and longer for less and less money then pay more and more of it out for basic things without question.
Originally Posted By VinnyPazRules⏩
you must not know who you are speaking to since I have been saying everything is rigged for years now people should check out this channel it tells the more darker truth of how things are actually going.You're spitting in the wind bro. The system is rigged and people will violently reject any evidence that proves they're complicit morons
I am convinced 100% beyond a doubt that this current system is destined to fail and the middle class has been shrinking (vanishing) especially after the last crisis in 2008.
05-19-2019, 07:15 AM
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#109
Cars are by far the worst thing to spend money on if you ain't rich. They depreciate the second you drive off the lot, they require a bunch of maintenance, and very few people drive them till they die. They just go out and get another new one like they would a phone. But people got to constantly live out of their means to impress equally shallow people. Doesn't bug me, have fun working till you die and never be able to retire lol
05-19-2019, 07:28 AM
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#110
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brb drive 10 year old cars crew
brb ride em like a benz crew
brb 2 subs in the trunk crew
brb no monthly payments crew
brb ride em like a benz crew
brb 2 subs in the trunk crew
brb no monthly payments crew
05-19-2019, 07:50 AM
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#111
- Kapetan
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I don't understand Americans. How hard is to save $15k and buy a car. Why are you even thinking about monthly payments? Are those cars not good enough for you?
https://www.carmax.com/cars?price=15000
https://www.carmax.com/cars?price=15000
05-19-2019, 08:06 AM
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#112
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Originally Posted By MikeLowrrrey⏩
where do you livePure Delusion.
Where do you live and what cars do you see? I don't about you, but I don't see BMWs, Audi, or Mercedes being driven everywhere, I see Hondas, Toyotas, cheap KIAs with American cars thrown in. All of those are supposedly cheap makes, yet still cost a lot. People aren't buying $45k luxury sedans. They're buying cheap lower tier cars that can reliability get them to work without breaking down.
It's not about boomers having everything, is that the only thing you got out of the argument? It's about making things more affordable. One man could support his family in the 60s. House, car, college, all payed for by one man. If not, little Jr. was easily able to a few jobs and pay off his degree.
Where do you live and what cars do you see? I don't about you, but I don't see BMWs, Audi, or Mercedes being driven everywhere, I see Hondas, Toyotas, cheap KIAs with American cars thrown in. All of those are supposedly cheap makes, yet still cost a lot. People aren't buying $45k luxury sedans. They're buying cheap lower tier cars that can reliability get them to work without breaking down.
It's not about boomers having everything, is that the only thing you got out of the argument? It's about making things more affordable. One man could support his family in the 60s. House, car, college, all payed for by one man. If not, little Jr. was easily able to a few jobs and pay off his degree.
05-19-2019, 08:16 AM
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#113
05-19-2019, 08:17 AM
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#114
- wasp9166
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Originally Posted By Kapetan⏩
considering rate of return and interest of loan, i'd almost always invest the 15k and take out a car loanI don't understand Americans. How hard is to save $15k and buy a car. Why are you even thinking about monthly payments? Are those cars not good enough for you?
https://www.carmax.com/cars?price=15000
https://www.carmax.com/cars?price=15000
05-19-2019, 08:26 AM
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#115
It's a never ending cycle. Stupid people take out loans they can't afford and greedy financial institutions give out loans to stupid people. The intelligent people who live within our means get stuck paying for all of it.
"
05-19-2019, 08:28 AM
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#116
Originally Posted By Kapetan⏩
You can buy a $2000 Honda Civic that will literally run forever, but it's not cool enough for these delusional morons who think they need a $50,000 luxury car.I don't understand Americans. How hard is to save $15k and buy a car. Why are you even thinking about monthly payments? Are those cars not good enough for you?
https://www.carmax.com/cars?price=15000
https://www.carmax.com/cars?price=15000
"
05-19-2019, 08:28 AM
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#117
- jakobi
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Originally Posted By Kapetan⏩
unless you have a family to support, its hard to save $15k if you're working on a decent pay job...I don't understand Americans. How hard is to save $15k and buy a car. Why are you even thinking about monthly payments? Are those cars not good enough for you?
https://www.carmax.com/cars?price=15000
https://www.carmax.com/cars?price=15000
if you're single, you should be able to pay it off
05-19-2019, 08:29 AM
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#118
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Originally Posted By casiNo.⏩
Not everyone does this though. Y'all refuse to believe people are legit struggling and then you wonder why the economy isn't doing so good. You need to pull your head outta your ass, the sand, or wherever the hell it may be.lol u guys r so dumb, strong insecurity
no sht if you can afford it then go ahead, im talking about people making 30-40k a year leasing a vehicle they clearly cant afford.
wow, an audi, congrats! i had one a year after highschool. 75k a year is nothing to brag about
you can lease an 2019 amg c63 benz for about 1k a month, its not that hard if your're not poor
no sht if you can afford it then go ahead, im talking about people making 30-40k a year leasing a vehicle they clearly cant afford.
wow, an audi, congrats! i had one a year after highschool. 75k a year is nothing to brag about
you can lease an 2019 amg c63 benz for about 1k a month, its not that hard if your're not poor
05-19-2019, 08:30 AM
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#119
05-19-2019, 08:31 AM
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#120
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Originally Posted By bobbydigitaloa⏩
Can't pay taxes if you don't make any moneyCorrect. No one on this forum has ever even had a mortgage of any kind and 93% are so edgy they have figured out how to not pay a penny in property taxes. In fact, the towns they live in actually pay them for choosing to live there in most cases.
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