Ramsey Rant about cars (versus, brakes, tires, heated seats)
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Slant Six? Great engine, just hard to find one anymore. Or if you do its an automatic.
But yea I got tired of this kind of upselling nonsense and endless arguments with greedy idiots. Lot of them just wont do an alignment job if you dont hire them to rebuild the front end. Their lowball offers for doing an alignment is just scam to get big bucks from rebuilding frontend. Also they seem to take offense at being laughed at when they make such demands. I figured way to align front end on my own. Its not perfect, but good enough that handling and tire wear is acceptable. Meaning pretty darn close to spec. You do have to make sure balljoints and tie rod ends are in good condition. Hint watch for deteriorating dust boots. The parts store replacement front end parts tend to have cheapest crappiest dust boots ever. I found out using generic aftermarket polyurethane boots is way to go, they are reasonable and last forever. Make those cheapo balljoints last far longer. Same with polyurethane CV boots, though they are amazingly hard to find the one piece ones. I had to buy the split ones and glue them together in clean environment off the car, then install them like regular one piece boot. Its next to impossible to do good job gluing them together on car.
Oh I used an aftermarket pull type clutch slave cylinder on my firewood pickup. It failed after 3 month. When I crawled underneath, the dust boot on it looked like it was 20 years old, deteriorated to shreds. Ok, obviously dirt got into the slave cylinder cause of the shredded boot. And manufacturer cared nothing about longevity. I got another cheap China clone slave and before installing replaced it a polyurethane "shock absorber boot" Kinda rube goldberg looking since different diameter. Close as I could come, nobody makes a polyurethane clutch slave boot. Still works fine years later. Seriously no more than these polyurethane boots cost, stupid not to make them original equipment.
A classic can most certainly be an investment.
Doesn't even have to be a classic. If you bought a Ford GT in the mid-2000s and stashed it, congratulations.
Regular car, not so much.
Boss paid 160k for a brand new Red Ford GT in 2006... had fun with it for 5 years... really did but at 75 the fun factor was fading... sold immediately for 210k and the FedEx car hauler came to pick it up...
Who says you can't make money on a new domestic???
i think some of you are missing the point here. a car is an investment, in transportation. you can make money on some cars, if you know the markets, and buy them at low prices and sell them at high prices.
however if you buy a car with the idea of a positive return on your investment, then you are deluded.
never look at a car as a financial tool, only as transportation.
Cars have been very good to me... my oldest is a 1905 Oldsmobile and cars following from every decade except this one... they have given me enjoyment and appreciation...
The 62 Corvette and the 38 Bantam are stellar performers.
Collector Insurance is cheap... less than Mom's 2011 Corolla!
They probably buy these cool cars to impress their girlfriend or prospective romantic partners. With young men they often feel driving an expensive, sporty car will help them get laid. Not trying to be funny here, either. Rather than being impressed, this was often a red flag to me that the man was financially irresponsible. I did not want to date or marry his debt.
Almost everyone I know with car payments for a new car or truck also has debt and financial problems. But driving a nice vehicle is tied in with their ego and who they are.
That’s my same philosophy with women who have degrees in the social sciences. Don’t want to date or marry that student loan debt.
That’s my same philosophy with women who have degrees in the social sciences. Don’t want to date or marry that student loan debt.
It doesn't correlate. Not everyone with a degree has student loan debt. My parents paid for my college education so I graduated without any debt. It seems you are trying to turn this thread into a gender war. The fact is, I mentioned men because that's who I dated. I didn't date women.
I have leased, purchased on loan and cash. Now granted I don’t overbuy because most of the whiz bang crap in a car I have no need to buy. My vehicle needs are simple. For my wife’s car yeah I’ll buy all the bells and whistles. She likes the whiz bang crap and we have the money. We also keep our vehicles a long time so even buying a “expensive “ car isn’t going to hurt us. We set ourselves a cap. And we don’t go past it. I’ve never been pressured in signing any contract I didn’t want to sign. I’ve walked out if the deal wasn’t what I liked.
A lot of his “help” does make sense IF you’re in financial hell and have no clue how you can get out of it.......yes his advice is helpful. But it’s very limited in its range especially the investing part. I’m a big proponent of debt free but even I’m willing to carry some debt. Granted not a lot of debt but some manageable debt is fine.
I think what Dave says is don’t go into stupid spending. I mean if you’re making 40,000 a year don’t buy a 60,000 dollar car along with or crazy shopping sprees on credit.
Quote:
Originally Posted by chiluvr1228
I listened to the financial advisors regarding leasing a car and this is how it's worked out for me. My mother died in late June around the same time as my car lease was ending so I decided to drive her car for awhile. Even though it is a 2002 Chrysler Concord, it only had 78K miles on it and all the luxury features for a car of that time. Since I started driving it in late August, I have spent over $2K in repairs and that doesn't even include the almost $3K my mother put in to it a few months before she died. I would have been better off taking that $2K and using it as down payment on a pre-owned vehicle. I hate having an unreliable vehicle.
You needn’t say more. Those were awful cars. For every story like yours there is one like mine. I bought a used Kia Optima. Drove the hell out of it for a year, 40,000 miles. Put about 1200 in wear items 20,000 miles into it. But I knew they will be needed. Bought it for 2800. Sold it a year later for 3,000. Basically i paid 1000 bucks to drive 40,000 miles. So it cost me 83 bucks a month.
I could of still driven that car but I got a crazy deal on a Grand Marquis which is a bigger more comfortable vehicle. That was the only reason I sold it.
I’m just lucky that I just don’t really give a crap what other people think of my vehicles.
I also hate having a unreliable vehicle. You can buy plenty of used reliable vehicles.
I have leased, purchased on loan and cash. Now granted I don’t overbuy because most of the whiz bang crap in a car I have no need to buy. My vehicle needs are simple. For my wife’s car yeah I’ll buy all the bells and whistles. She likes the whiz bang crap and we have the money. We also keep our vehicles a long time so even buying a “expensive “ car isn’t going to hurt us. We set ourselves a cap. And we don’t go past it. I’ve never been pressured in signing any contract I didn’t want to sign. I’ve walked out if the deal wasn’t what I liked.
A lot of his “help” does make sense IF you’re in financial hell and have no clue how you can get out of it.......yes his advice is helpful. But it’s very limited in its range especially the investing part. I’m a big proponent of debt free but even I’m willing to carry some debt. Granted not a lot of debt but some manageable debt is fine.
I think what Dave says is don’t go into stupid spending. I mean if you’re making 40,000 a year don’t buy a 60,000 dollar car along with or crazy shopping sprees on credit.
Totally agree. Ramsey's advice is great if you need to get your financial house in order. He's less useful when it comes to investments for capital building - his affiliated vendors (Endorsed Local Providers) often carry big fees when one can do better.
...THEY do buy new cars new trucks that they cannot afford. ...
There's also a reverse-side to this. Countless times, I'd pull into the parking lot of our gym, and observe some kid who's less than half of my age, exit a performance-oriented car, and jauntily amble into the building. "Wow!", I think... "Even if he's in debt over that lump of metal, he likely derives joy and exhilaration from driving it. Whereas here I am, in my tired and tiresome hooptie. Who's the real fool in this comparison?"
Quote:
Originally Posted by Ultrarunner
Growing up around the car business as a kid... it was eye opening how many just want what they want and willing mortgage their future on a mostly depreciating item...
In my part of the world, a house is decidedly a depreciating asset. A car at least can be enjoyed. But a house? What is your house's quarter mile time? 0-60? Maximum lateral acceleration (earthquakes don't count)?
THEY do buy new cars new trucks that they cannot afford. And don't forget that new $1,000 iPhone.
This may be a bigger resource sucker.
I know people who have phone payments the size of car payments.
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