If you really need good AWD at that price point, I suppose.
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12% are paying $1,000+ a month for car loans ...
- Thread starter odie
- Start date
Not always a depreciating asset. I was offered $8,000 more for my 1 year old Tesla than I paid for it. But that's admittedly a rare event.
The only time I've ever had car payments was my last year in university. I borrowed the money to buy a new car and paid it off in 8 or 10 payments in order to establish a credit rating. Since then I've always paid cash. When you write a cheque for $50,000+ you really know how much that new car costs.
And yes I could afford $1,000 payments.
JHZR2
Staff member
That’s a one time anomaly. Everyone knows it.
Agreed. It'll probably never happen again. Not with a new car anyway.
Though I think that '66 Mustang GT350 would be worth more than $13,000 today. And it was supposedly Carroll Shelby's secretary's car to boot. I'm still kicking myself over that one.
Yeah, Subaru seems to keeping their cars reasonably priced. Even the Ascent is only $34k to start and the base models are pretty functional. We get an even better deal up here considering the dollar, and typically the base model gets heated seats.
If they have a 2018 or 19 Legacy on the lot, give it a try, you might like it better than the new one, with real climate control buttons, no stop start. I had a 21 Legacy base as a loaner and it was a bit of a downgrade from our base Outback in interior and ride IMO.
It happened during WW2. So it's a two-time anomaly?
I’m feeling pretty smug about paying $3700 cash for a used Scion last year.
My dad was a teacher and didn’t earn a lot but he never had a car loan in my lifetime and he always bought new cars. He paid cash for a black Chevrolet and immediately began saving up for his next black Chevrolet.
My dad was a teacher and didn’t earn a lot but he never had a car loan in my lifetime and he always bought new cars. He paid cash for a black Chevrolet and immediately began saving up for his next black Chevrolet.
Well, maybe. Keeping a car 50+ years incurs some cost. But ya never know, right?
The 66 Stang was my favorite year, by the way. I see some pretty nice ones running around.
Cars are a depreciating asset. Are there outliers? Sure. Statistically insignificant.
Some people think my 68 427 Corvette Roadster is worth a lot. These people have no idea. Most expensive car I've ever owned.
Some people think my 68 427 Corvette Roadster is worth a lot. These people have no idea. Most expensive car I've ever owned.
JHZR2
Staff member
Seriously? Good luck with such logic.
The smart money says to invest in a vehicle, not a house.
After all, you can't drive your house, but you can live in a vehicle.
So, buy a motorhome?
Car payments unfortunately are why people are not wealthy. I get why people do it, it’s easy .
One of my cousins thought his brother was crazy for paying $35,000 for a house. Probably worth $3 - $400,000 now.I once thought not that long ago that a $1000/month house payment was getting crazy.
Who gives a **** what other people do with their money? I'm only concerned with how much of that money goes in my pocket.
That Mustang was really special, and in very good condition. The only problem I could find with it was some paint cracking on the hood. And (I'm making a big assumption here) because Shelby's secretary was a Canadian it was painted British Racing Green. Whether that's the reason or not, it was indeed dark green with white stripes, which it shouldn't have been because they were all supposed to have been white - with blue stripes.
But I needed a car that I could drive every day. And at that time I didn't have a place to store a car, and couldn't have afforded an extra car anyway. So we bought a brand new silver '81 Toyota Celica GT Liftback 5MT instead. And it served us very well, so I have no complaints about that.
It lasted in daily service until 1993 or 1994, by which time the body was getting rusty. The problem was that it had stainless steel trim around the wheel openings where the dissimilar metals and retained salt caused the adjacent body to rust. Ironically the cheaper models didn't have that trim and didn't rust as badly.
Still, that Mustang was the one that got away.
Well, Thank goodness my Equinox is almost paid off.
The Trax in my picture is the wife’s old lease due in January. My goal was to buy it anyways-before she passed.
Buyout is cheap- so I plan to drop a big down payment on it and have it paid off in a year or so.
I priced a 23 Silverado Trail Boss, and even pretty naked it barely came in under 50k……
The Trax in my picture is the wife’s old lease due in January. My goal was to buy it anyways-before she passed.
Buyout is cheap- so I plan to drop a big down payment on it and have it paid off in a year or so.
I priced a 23 Silverado Trail Boss, and even pretty naked it barely came in under 50k……
Keeping up with the Jones's is the name of the game, I guess. I think a lot of people buy expensive cars to try to project that they are more successful than they really are.
