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Old 03-28-2010, 10:15 AM
 
Location: Castle Hills
1,133 posts, read 2,419,542 times
Reputation: 611

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Quote:
Originally Posted by wheelsup View Post
Year old thread they've already bought their car...
That is ok, there is certainly another joker here who is going through the same thing and will be reading this thread.
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Old 03-28-2010, 10:30 PM
 
3,770 posts, read 5,900,178 times
Reputation: 3003
I'm going to buy a newer car in a few months based on what I save over the summer. When you buy a 20k+ car with your own saved cash it feels like a whole lot more than if you pay $300 a month for 5 years. So I am going to keep it to no more than $10k.
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Old 03-28-2010, 11:00 PM
 
784 posts, read 2,582,771 times
Reputation: 448
Quote:
Originally Posted by TH777 View Post
Here's a novel idea for ya... Instead of putting a down payment on a new car, why not take your down payment and PAY CASH for a car?

I cannot understand why everyone in America thinks in terms of Payments. If you pay cash for a car you have NO PAYMENT AT ALL and you own the car.

So many people think in terms of driving a beater, rusted falling apart car OR they want a Brand New car from the dealer. WHY not just buy something Used but in Great Condition? There are many used cars out there that look and drive like new. They may have 50,000 miles or so but for many quality built car brands 50,000 is just getting warmed up. I have driven many of my cars to 300,000+ and all of my cars are shiny, new looking and great driving reliable used cars.

Americans need to smarten up with their money handling skills and stop thinking in terms of payments. I have never in my life paid more than $10,000 for a car and I've owned Porsche, Mercedes, Lexus, Corvettes, Subaru, Honda, Toyota, you name it. I buy USED then drive it for a few years then sell it and when I sell I often get equal or in a few cases MORE than I paid for the car!!

Buy USED and pay CASH.
Here's a novel idea for ya...don't reply to threads that have been dormant for almost a year
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Old 03-29-2010, 11:21 AM
 
Location: Castle Hills
1,133 posts, read 2,419,542 times
Reputation: 611
Quote:
Originally Posted by NYCAnalyst View Post
Here's a novel idea for ya...don't reply to threads that have been dormant for almost a year
Do you think this is the only person who is going to be buying a brand new car who needs advice? There is excellent advice in this thread that many people can use and discuss. It doesn't matter that the post has been dormant for a year.
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Old 04-01-2010, 08:15 PM
 
784 posts, read 2,582,771 times
Reputation: 448
Quote:
Originally Posted by ufcrules1 View Post
Do you think this is the only person who is going to be buying a brand new car who needs advice? There is excellent advice in this thread that many people can use and discuss. It doesn't matter that the post has been dormant for a year.
No, because that guy replied to the original poster, who posted over a year ago.

Pretty sure he's not reading this thread anymore.
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Old 04-03-2010, 06:25 PM
 
Location: LA
103 posts, read 186,454 times
Reputation: 91
The smaller the outstanding debt, the better. Go ahead and put down the $14k, you saved it up for the car anyway right?
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Old 04-04-2010, 12:14 AM
 
48,508 posts, read 88,448,132 times
Reputation: 18187
Some think that people who pay cash are stupid but they fail to think why they can pay cash in the first place.Besides many of those zero interest include money incentive if you don't take the rate.
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Old 04-04-2010, 11:42 AM
 
1,820 posts, read 4,176,440 times
Reputation: 4907
Yeah, but these incentives are on new vehicles. I can about beat my monthly cost by simply financing the same used car at interest than paying a premium for the new car smell. Cars are utilities. Heck, you could outright buy the same vehicle used for the aforementioned 14K and be payment-free from the get go.

I've done the math, and for new sticker price, 0% APR will never get you ahead of the depreciated version of the same car at even the most aggressive interest. At least on the vehicles I'd be interested in purchasing....

My order of purchase would be 1)buy used 2)finance used 3)buy new or finance 0% new 4) finance new @ non-zero APR. But never never never be house poor, car poor, etc. Be cash rich.
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Old 04-05-2010, 05:48 PM
 
660 posts, read 1,414,856 times
Reputation: 397
Quote:
Originally Posted by hml1976 View Post
I'd pass on the 0% financing and buy a 14K car. Assuming you have some other savings for an emergency...if you don't then I'd put the 14K away as an emergency fund and then save for a car.

But, I tend to be conservative about these things and don't like owing money to anyone.
This is why I SO BADLY need a second job. Until I get a second job I will continue owing people money, and continue falling further behind. I dream about the day that I no longer owe anyone money (except for a mortgage, but maybe not even that). For those on here who know my situation, getting a vehicle is really my only shot at making headway on my finances. If ever there was truth to the saying "it takes money to make money", this is it for me. To the OP, I'm so proud of you for saving up 14k. Kudos!!!
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Old 05-02-2010, 04:46 PM
 
21 posts, read 121,231 times
Reputation: 35
Default Why I post to old threads

Many times I have been ripped apart on these boards because I post information to a topic that has been dormant for a long time.

With these message boards, the information you find here is very valuable and does not expire over time. Even if the original poster or person who started the thread is gone, there are still hundreds of people who will find this thread, read the various post and LEARN SOMETHING from what is discussed here.

This is why I offer what I know and post to old threads. Knowledge never expires if it's true and someone can learn from others experience.

Do people throw books away after a year? No they keep them around so the knowledge can be passed on to others.
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