New Cars and Financial Ineptitude
- Thread starter Kurtatron
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Only reason I didn't say all was because of the start date of the fund. Different start dates will give you different life of fund returns. I'm actually surprised that Fidelity managed to beat Vanguard with their expense ratio on their Index 500 fund, Vanguard use to be the lowest for a long time.
I have no beef with new car buyers, but only when the financial burden causes stress that would otherwise not be there. My mom bought a new car like 6 years ago, when she makes much less money than me, has less savings, and has mountains of credit debt. I was aghast. That is the type of buyer that bothers me. The point us financial independence. If people can afford new cars without needing government (taxpayer) handouts or begging acquaintances when hard times come, then go all out.
It’s always the people driving older cars that feel the need to justify why they’re driving older cars. Just drive what makes you happy and leave everyone else alone to deal with any consequences of their actions.
Last vehicle I financed was a 91 full size Bronco. I paid a little over 14k for it in 1993. Paid it off in three years, not long after that the motor needed replaced, back to the bank. Nickel-and-dimed me to death so bad I kept it for 22 years thinking I needed to to get my money's worth out of it. I would of been smart to sell it right after I put the new engine in it.
I'm sorry but I will have to disagree with you on cash not being king. Nowhere did I state that I tell the dealer I'm paying cash. In fact part of getting a good deal is let them think you are financing. Have them run a credit check, get a loan approval (from the dealers choice of banks), and agree 100% all the way to the part of signing the loan and sale agreement. At that point you start removing all the crap fees and get the OTD price. Then you bring out the I'm paying cash card. Finance managers hate this. Some will even try to back out of selling you the vehicle. At that point you ask for the GM of the dealership. He will almost always give you the vehicle at the agreed upon price.
Motorcycle dealers are a lot easier to work with. The profit margin is low on bikes and it's super easy to get a fantastic cash deal without all the BS.
Propflux01
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Most dealerships now hate a cash paying customer. The finance portion usually gives them a kickback for using them. I finance, then pay off within 3 months.
The people who'd be into this would go through the hassle themselves. I wouldn't trust a dealer-- they could slap undercoating and bondo on a rusted out thing, launder the title through a southern state, and I'd be worse off. Southern states also see more hurricanes and flooding. It's hard to make a profitable business out of selecting cheap, practical things for cheap, practical people. Look at children's clothing resale shops as an example.
I have gone to NC twice and got two very good cars-- a 1993 Cavalier with 38k miles for $1100 and an 83 w123 benz for $800. Both were amazingly clean underneath. I could have driven both another decade up here but got bored and sold them.
You got bored with a '93 Cavalier? might have to turn in your BITOG card on a comment like that!
There's another way to look at it... Finance 101 teaches you not to put $$ into a depreciating asset and put $$ into an appreciating asset.
Cars are depreciating assets. Which does nothing to explain all my stupid cars. Especially the '68. Wasted $$.
Cars are depreciating assets. Which does nothing to explain all my stupid cars. Especially the '68. Wasted $$.
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Loan or no loan? Tell the dealer or keep your cards close?
I guess look at it differently...
I tell them what I want.
If they can do it, then good. Otherwise there are lotsa cars on the planet.
It's all about doing one's homework.
But I do agree it is smart to break out the sale, payment and trade in (if any).
Building a relationship with a dealer can be beneficial. If they don't wanna do this, they are probably not a good place to do business.
Repeat business means both sides are happy.
Good luck!
I guess look at it differently...
I tell them what I want.
If they can do it, then good. Otherwise there are lotsa cars on the planet.
It's all about doing one's homework.
But I do agree it is smart to break out the sale, payment and trade in (if any).
Building a relationship with a dealer can be beneficial. If they don't wanna do this, they are probably not a good place to do business.
Repeat business means both sides are happy.
Good luck!
It's unfortunate it needs to be this way. I have no problem a dealer making a fair profit. I'm not there to beat them up. When they try to burn me I have no problem letting them think they are going to make a sell then walk out.
I have the same problem. Spend close to $8,000 on a KTM 300. Then proceed to race it, beat on it, break it, repair it, repeat. Then sell it for $1,500 and cry.
Threads like this are always started by those who can't afford a new vehicle-or would NEVER BUY ONE even if they could.
BITOG-where old cars come to die......................
BTW-I have two vehicles that Bluebook together over $50K I owe right around $20K.
BITOG-where old cars come to die......................
BTW-I have two vehicles that Bluebook together over $50K I owe right around $20K.
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You are at the right forum. Plenty of "mature" guys on here......
You are 100% correct. When cold weather arrives-I "remote start" and the Silverado turns on the seat warmers and heater. Then when summer comes the truck automatically turns on the air and seat coolers.
And I also like to Bose stereo.
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