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Link Posted: 2/20/2024 11:19:41 PM EDT
[#1]
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Quoted:
Why on earth would you finance a 3 year old 65k car?
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Sir not everyone can afford a new Maserati. Some folks must buy used.
VP
Link Posted: 2/20/2024 11:46:42 PM EDT
[#3]
You can get a KILLER motorcycle for way less than that.
Link Posted: 2/20/2024 11:48:54 PM EDT
[#4]
Keep driving your 2 vehicles.

Take the equivalent amount of money you'd be paying in principal & interest for the vehicle and put it into an account.  In about 3 years, you might have enough to pay cash for the vehicle you choose when you add in at least one of your current vehicles.
Link Posted: 2/20/2024 11:51:59 PM EDT
[#6]
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Quoted:


Is the debt reasonable considering my situation?
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And the question is?


Is the debt reasonable considering my situation?


No, too much money for a used car, especially throwing in financing at today's rates.

And no in general.  Here's some sobering shit:

AGI in 7 Months! Gemini, Sora, Optimus, & Agents - It's about to get REAL WEIRD out there!


There's also Sora that was just announced.  Can you deal with job loss in 5 years?  The rate of progress with AI is increasing exponentially.  It's really going to accelerate now that chips dedicated to AI are coming to market (previously video cards were used, where much of the silicon isn't used for the AI processing).  It's coming, and faster than we think.  I've watched a bunch more on the subject, and frankly it's depressing.  In the workplace, humans will be worthless soon.  Talk about a UBI is probably correct as we just won't need people to do things anymore.  When that happens, will you have stuff paid off so you can live like you're used to?  Or will you just be at what's essentially minimum wage, and be happy?



Link Posted: 2/21/2024 12:19:55 AM EDT
[#7]
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Quoted:
You can get a KILLER motorcycle for way less than that.
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And still have money left over for suspension, brakes, and time at the race track.
Link Posted: 2/21/2024 7:39:22 AM EDT
[#8]
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Quoted:

WTF

Are we chatting with an AI bot?
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Yes.

-P
Link Posted: 2/21/2024 4:30:57 PM EDT
[#9]
Link Posted: 2/21/2024 4:33:42 PM EDT
[#10]
Welcome fellow auto enthusiast
Link Posted: 2/21/2024 4:35:08 PM EDT
[#11]
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Quoted:
And still have money left over for suspension, brakes, and time at the race track.
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Quoted:
Quoted:
You can get a KILLER motorcycle for way less than that.
And still have money left over for suspension, brakes, and time at the race track.



No kidding!  I picked up a cheap R6, put new a new Mupo shock, Ktech cartridges, Full M4 exhaust, ECU tune, case covers, and seals for just about everything.... all for 1/10th of what OP listed
Link Posted: 2/21/2024 4:37:57 PM EDT
[#12]
What make/model of three year old car worth $65K?

edit: Nevermind.  I thought I cared, but I just had gas.
Link Posted: 2/21/2024 4:39:59 PM EDT
[#13]
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Quoted:

Some people want a Porsche 911, not just a car that goes from A to B
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Quoted:
Quoted:
Quoted:
And the question is?


Is the debt reasonable considering my situation?



Why not just drive the car that is worth $25K.  What 3 year old car are you wanting to buy that costs $65K?

Several good vehicle choices out there for less that $65K brand new.

Some people want a Porsche 911, not just a car that goes from A to B


How about a $25k Porsche 911? Then you can both be right
Link Posted: 2/21/2024 4:48:08 PM EDT
[#14]
Link Posted: 2/21/2024 4:55:55 PM EDT
[#15]
You're said nothing about how old you are, what your retirement balances are, or how much you are saving for retirement.

I'm going to assume those were left out because they were not flattering, which I think is fair based on your post history.

I'm also going to assume you'll ignore people giving you real advice and instead just go buy it, because "I deserve it."

Link Posted: 2/21/2024 4:58:45 PM EDT
[#16]
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Quoted:
You're not contributing enough to your 401k. Stop pissing away your money.

Pay.  Yourself.  First.
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Quoted:


Take home is about 3300 every two weeks
You're not contributing enough to your 401k. Stop pissing away your money.

Pay.  Yourself.  First.


As someone who pissed away a ton of money in his twenties when I could have saved it and now can’t because the cost of living has me by the balls, learn from my stupidity and listen to this guys post. I’ll never retire.
Link Posted: 2/21/2024 5:06:34 PM EDT
[#17]
I wouldn't do it but it's your money and, based on income and housing expense, seems you should be able to make room in your budget if it's important to you.
Link Posted: 2/21/2024 5:08:58 PM EDT
[#18]
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Quoted:



Why not just drive the car that is worth $25K.  What 3 year old car are you wanting to buy that costs $65K?

Several good vehicle choices out there for less that $65K brand new.
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Vehicles are a tool for transportation for some people.

Vehicles are a hobby like guns for other people.  

Vehicles are a status symbol like a purse for stupid people.  
Link Posted: 2/21/2024 5:12:35 PM EDT
[#19]
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You can afford it, but you told us only about your debt.  You told us nothing about your assets.

My financial projections are that I'll have twice as much income in retirement as I do now.  I'm twenty years out.  I'm the one who should be doing the humblebrag about "hey arf, can I afford a bigger house, or a bigger truck?"  But I don't have to.  Because I'm on top of my game.  You're not.

Drive reasonable beaters that fit the need and put more into your three buckets.  Stop trying to impress your boyfriends with sports cars.
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Why, so you can start enjoying life at 65?  I get putting money away for retirement for sure, but there is a balance and you should enjoy life along the way as well.
Link Posted: 2/21/2024 5:19:56 PM EDT
[#20]
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Quoted:
Never finance an automobile.
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I used to think that.  I financed my current truck at 3.25% (was really good in 2019 for a used vehicle only 20k miles) and now it is worth more than I paid for it in trade in value.  My econ professor said anytime you are financed under inflation the financer is paying you.  So the past few years they have been paying me well and my truck has gone up in value.
Link Posted: 2/21/2024 5:21:31 PM EDT
[#21]
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Quoted:


That came from another thread that OP started about buying a new vehicle.

https://www.ar15.com/media/mediaFiles/174498/Screenshot_2024-02-20_221218_png-3136127.JPG
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Am i missing some edits somewhere. Where the fuck is all that info posted. This thread is dumb as shit.




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Wide range of options lol. Was considering consolidating to one car but I’d rather keep my DD and have a loan on a weekend car. That way I don’t have debt on regular transportation


I don't finance my wants.  I paid cash for my Vette.

At $130K/year and only a mortgage to pay and driving a beater, one would think that you would have been able to save a considerable amount of money over the years.

Quoted:
Currently have a 2017 Audi RS5. Has been nothing but reliable, literally nothing has needed repair or broken over 15k miles that I’ve driven it (45,000 miles total). Yes maintenance is expensive and I take it to the dealer.

Thinking about upgrading to an M4, maybe a convertible with a manual trans. Under 30k miles around $55k. Alternative is a c7 corvette. Thoughts, comments?




That came from another thread that OP started about buying a new vehicle.

https://www.ar15.com/media/mediaFiles/174498/Screenshot_2024-02-20_221218_png-3136127.JPG



Lol
Link Posted: 2/21/2024 5:25:07 PM EDT
[#22]
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Quoted:
Never finance an automobile.
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Discussion ForumsJump to Quoted PostQuote History
Quoted:
Never finance an automobile.


Quoted:
You're not contributing enough to your 401k. Stop pissing away your money.

Pay.  Yourself.  First.


These are both correct.

You need to be maxing out your 401k AND your Roth IRA every year.

Pay cash for cars, unless you can get a rate that is lower than savings account rates.
Link Posted: 2/21/2024 5:30:28 PM EDT
[#23]
A 3 year old Tundra is about half the cost of whatever you have in mind.
Link Posted: 2/21/2024 5:31:33 PM EDT
[#24]
1. Buy new so you have a factory warranty & a decent interest rate.
2. Buy something reasonable like a Toyota sedan or similar so insurance as well as price tag are reasonable.
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