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Forum » I financed my 1st car!!!
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Thread: I financed my 1st car!!!

post 1583687331 07-11-2019, 09:06 AM
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Originally Posted By Eatforgains⏩
I havent been at my job very long a little over a month
You didn't answer my question though. Whats your monthly budget? I've been doing my own budgets since I was 17 and just turned 32. Do you not know how much you have extra after every month yet?
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post 1583687401 07-11-2019, 09:08 AM
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Originally Posted By ahyp⏩
You didn't answer my question though. Whats your monthly budget? I've been doing my own budgets since I was 17 and just turned 32. Do you not know how much you have extra after every month yet?
I sell cars so my income fluctuations make it hard to be exact with that sorta thing
post 1583687461 07-11-2019, 09:09 AM
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Originally Posted By Eatforgains⏩
I sell cars so my income fluctuations make it hard to be exact with that sorta thing
Its amazing you cant answer a simple question. You are an adult. How do you not know this answer?

Edit: don't need an EXACT response - ball park it.
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post 1583687541 07-11-2019, 09:11 AM
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Originally Posted By ahyp⏩
Its amazing you cant answer a simple question. You are an adult. How do you not know this answer?

Edit: don't need an EXACT response - ball park it.
After income tax and bills maybe an extra 6-8 grand
post 1583687601 07-11-2019, 09:13 AM
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Originally Posted By Eatforgains⏩
After income tax and bills maybe an extra 6-8 grand
you have 0 bills? or do you make 170k+ a year? math isnt adding up.
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post 1583687721 07-11-2019, 09:15 AM
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Originally Posted By ahyp⏩
you have 0 bills? or do you make 170k+ a year? math isnt adding up.
15k my 1st month there before tax
post 1583687741 07-11-2019, 09:15 AM
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Originally Posted By Eatforgains⏩
After income tax and bills maybe an extra 6-8 grand
But you said you could clear the car in 1 month and the car was 16k, but you only have 6k spare per month.

Also you sell cars for a living, but just financed a car.

I'm not playing this game anymore.

Bye.
post 1583687881 07-11-2019, 09:18 AM
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32 yo making baller money
32 yo excited to finance a used fiesta

Pick one

OP quickest way to improve credit is by maintaining a low usage to limit ratio...so open a bunch of credit cards and make small purchases, pay them off each month, in the year you're paying off your fiesta having lots of unused credit would probably do more for your score than the small car loan. And obviously pay off any other existing debt.
post 1583687891 07-11-2019, 09:18 AM
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Originally Posted By andres93⏩
Roll 🍞
This is what I'm hearing......surely this is a bad troll thread?
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post 1583687921 07-11-2019, 09:18 AM
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Originally Posted By CellyTech⏩
But you said you could clear the car in 1 month and the car was 16k, but you only have 6k spare per month.

Also you sell cars for a living, but just financed a car.

I'm not playing this game anymore.

Bye.
I put a sizeable down payment down I could pay off the balance in about a month. Did you forget down payments are a thing?
post 1583687961 07-11-2019, 09:18 AM
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Originally Posted By Eatforgains⏩
15k my 1st month there before tax
Well, if you are telling the truth, I recommend you pay off your fiesta immediately and save all your money for the next 4 months. You should have +25k in the bank and a paid off car.

You have a really bad credit score apparently, with an interest rate like that. You should definitely not be getting a loan for your situation, it's a financial error on your part.

If your credit score is that bad it means your financial situation hasn't been good for quite a few years. You should be saving everyting you can and never taking out loans at this point in your life.
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post 1583687991 07-11-2019, 09:19 AM
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post 1583688091 07-11-2019, 09:20 AM
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Horrible decision. Never finance anything that goes down in value. And if you make enough money to pay it off in a month why would you not pay it off instead of giving free money to the bank lmao
post 1583688221 07-11-2019, 09:22 AM
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Originally Posted By ahyp⏩
Well, if you are telling the truth, I recommend you pay off your fiesta immediately and save all your money for the next 4 months. You should have +25k in the bank and a paid off car.

You have a really bad credit score apparently, with an interest rate like that. You should definitely not be getting a loan for your situation, it's a financial error on your part.

If your credit score is that bad it means your financial situation hasn't been good for quite a few years. You should be saving everyting you can and never taking out loans at this point in your life.
Low 6s I've only recently started doing things with credit so I don't have a strong credit file
post 1583688231 07-11-2019, 09:23 AM
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Originally Posted By AWSbruh⏩
Horrible decision. Never finance anything that goes down in value
i financed half of my tesla. bad decision financially? sort of, but literally buying any car is a bad decision unless its used and past its point of appreciation.

i was able to take advantage of a 7500 tax credit that no longer exists actually, so definitely worth it
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post 1583688271 07-11-2019, 09:23 AM
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Originally Posted By ymer⏩
Negged either for frauding or using potato logic.
I'm not sure where the potato logic comes into play?
post 1583688431 07-11-2019, 09:25 AM
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Originally Posted By Eatforgains⏩
I havent been at my job very long a little over a month
Originally Posted By Eatforgains⏩
After income tax and bills maybe an extra 6-8 grand
You JUST started selling cars and are just guesstimating numbers now. Stop talking out of your ass.
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post 1583688451 07-11-2019, 09:25 AM
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Originally Posted By ahyp⏩
i financed half of my tesla. bad decision financially? sort of, but literally buying any car is a bad decision unless its used and past its point of appreciation.

i was able to take advantage of a 7500 tax credit that no longer exists actually, so definitely worth it
Buying a new car is stupid since they lose most of the value within 3 years. Buying a used car cash is a smarter investment
post 1583688511 07-11-2019, 09:27 AM
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Originally Posted By ssilv⏩
You JUST started selling cars and are just guesstimating numbers now. Stop talking out of your ass.
No I just started at this dealership I've been selling cars for quite a while
post 1583688901 07-11-2019, 09:31 AM
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Originally Posted By NextPound⏩
It upsets me that you work as a car salesman and financed at 12.6%. Start paying attention.
99 percent of ppl with my credit score on a 1st car loan get 23% if you knew that though you'd probably realize why I'm happy with 12.6
post 1583688931 07-11-2019, 09:31 AM
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Originally Posted By Hutrapper⏩
Canada. Bought a 2018 equinox for my wife. went 1.9 percent over five (not financing anything past warranty).

And I thought I got screwed as they offer 0.9 on a lot of models.

Edit..meant to say anything more than
Lmao good thing you got such a reasonable rate on your loan-- youd be wise to use those savings to start a maintenance fund for your Chevy. You're going to need it.
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post 1583688991 07-11-2019, 09:32 AM
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Imagine taking out finance at 12% to buy a fukin fiesta


LOL
post 1583689011 07-11-2019, 09:32 AM
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Originally Posted By AWSbruh⏩
Buying a new car is stupid since they lose most of the value within 3 years. Buying a used car cash is a smarter investment
Enter living in Canada where they dump thousands of tons of salt on the roads for six months of the year and your car is pretty much rusted out after 150000km.

Makes a worry free payment of 400 a month seem pretty good. Reliable car, financed for the warranty period at a miniscule interest rate, change the oil for five years and sell at the end of five with cash in hand for the next one. There, some other shmuck can worry about replacing rad saddles, u joints, and fixing rust spots.

Never had a car get over 200,000 km without being solid rust because of the salt. Undercoating or not.
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post 1583689141 07-11-2019, 09:34 AM
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Originally Posted By Peacening⏩
Lmao good thing you got such a reasonable rate on your loan-- youd be wise to use those savings to start a maintenance fund for your Chevy. You're going to need it.
did you miss the part where I said don't finance anything past the warranty period?

Sell it after that to some other guy who can worry about that ****e..put cash toward another one. Repeat.
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post 1583689281 07-11-2019, 09:35 AM
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Originally Posted By TappingTheZen⏩
Imagine taking out finance at 12% to buy a fukin fiesta


LOL
Don't knock the fiesta 200 bhp with boost, 280 after I mod it next month. 6 speed and it only weighs 2700 lbs
post 1583689301 07-11-2019, 09:36 AM
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Originally Posted By Eatforgains⏩
I started this job recently if that helps you make sense of things at all.. The car was 16k btw not 8
> earns 192k a year (assuming you mean before tax)
> finances a ford fiesta at 12%
> sells cars for a living

stop frauding pls son LOL
post 1583689401 07-11-2019, 09:37 AM
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Originally Posted By Hutrapper⏩
Enter living in Canada where they dump thousands of tons of salt on the roads for six months of the year and your car is pretty much rusted out after 150000km.

Makes a worry free payment of 400 a month seem pretty good. Reliable car, financed for the warranty period at a miniscule interest rate, change the oil for five years and sell at the end of five with cash in hand for the next one. There, some other shmuck can worry about replacing rad saddles, u joints, and fixing rust spots.

Never had a car get over 200,000 km without being solid rust because of the salt. Undercoating or not.
You still won't come out ahead financially. You are just trying to justify buying a new car. Buying a new car is the dumbest investment anyone can ever make. How about you pay cash for a used car and put 400 dollars a month in the stock market instead sheep
post 1583689971 07-11-2019, 09:43 AM
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Originally Posted By TappingTheZen⏩
> earns 192k a year (assuming you mean before tax)
> finances a ford fiesta at 12%

stop frauding pls son LOL
Don't you think I'd be talking about a 911 turbo or some dumb chit if I was frauding
post 1583690061 07-11-2019, 09:44 AM
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How much is a 2016 Fiesta ST in America?
post 1583690081 07-11-2019, 09:44 AM
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I was 33 before I financed a car. Its now 4 years and 2 cars later and I have it paid off again.

Car payments suck ass. Im not financing crap again unless its a toy worth over $100k.
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