POTUS 46.10: A New Hope

[unofan]

Worst investment you can ever make is a new car. Loses 20% of its value the moment you drive it off the lot.

Was that gem coming from whalers or Chucklefuk?

Cars aren't investments, period, with the exception of some antiques. They're tools. What do I care if a new car loses 20% of its value immediately if I plan to drive it into the ground before replacing it? Have had my current car 7.5 years now, it's been paid off for nearly 3, hoping to get another couple years out of it. Maintenence bills are slowly creeping upwards but still less than a normal car payment.

If I get a grand for trading it in when it's time, I'll be happy.

 

[Swansong]

They're a terrific investment if you only look at their actual utility.

 

[Slap Shot]

Cars aren't investments, period, with the exception of some antiques. They're tools. What do I care if a new car loses 20% of its value immediately if I plan to drive it into the ground before replacing it? Have had my current car 7.5 years now, it's been paid off for nearly 3, hoping to get another couple years out of it. Maintenence bills are slowly creeping upwards but still less than a normal car payment.

If I get a grand for trading it in when it's time, I'll be happy.

His was pointing out the folly of Whalers' argument that if you're not paying cash for a car you can't also claim to be wicked smaht.

 

[Kepler]

"If Kepler's so smart, how come he's taking out a loan on a used CR-V and not paying cash for a BMW?"

Apparently paying cash for a BMW is an unambiguous and reliable marker for intellect.

It's new, not used.

We thought about paying cash; we could easily afford it. Partly, we are conservative with money, and that kind of up front hit to liquidity just frightens me. Partly the interest rate is fine given inflation, which I believe will return to historical norms (3-6% normal) and no longer be so artificially low. As it was, we paid more than half the cost as cash and trade in. The loan is 48.5% of the purchase cost. The loan interest will be about 4% of the total cost, so I feel like I cleared 96% as cash and got the use of a car for the additional 5 years without having to eat the whole thing up front. I think what we did was actually smart, but this is also not my strong suit and if we made a mistake I welcome the correction.

We wanted to move from a sedan to a compact SUV, so we looked at the best 3 on Consumers. BMW, if it makes one at all, was not on the list.

But I can see that perhaps cash on the barrel might be the best expected value. I just have never done it and was a-scurred.

 

[Slap Shot]

It's new, not used.

We thought about paying cash; we could easily afford it. Partly, we are conservative with money, and that kind of up front hit to liquidity just frightens me. Partly the interest rate is fine given inflation, which I believe will return to historical norms (3-6% normal) and no longer be so artificially low. As it was, we paid more than half the cost as cash and trade in. The loan is 48.5% of the purchase cost. The loan interest will be about 4% of the total cost, so I feel like I cleared 96% as cash and got the use of a car for the additional 5 years without having to eat the whole thing up front. I think what we did was actually smart, but this is also not my strong suit and if we made a mistake I welcome the correction.

We wanted to move from a sedan to a compact SUV, so we looked at the best 3 on Consumers. BMW, if it makes one at all, was not on the list.

But I can see that perhaps cash on the barrel might be the best expected value. I just have never done it and was a-scurred.

If you were as intellectual as Whalers you wouldn’t have to ask.

 

[Kepler]

If you were as intellectual as Whalers you wouldn’t have to ask.

The smart only ask, and are never sure.

He must be some new kind of smart.

 

[Slap Shot]

The smart only ask, and are never sure.

He must be some new special kind of smart.

fyp

 

[Kepler]

 

[rufus]

In the past few years people have actually paid more for cars when they were used than what they cost new.

Let's see some examples. And not Ferraris and Porsches. And other collectibles shit.

 

[rufus]

fyp

Yeah. Special ed. Uh huh huh huh!!!!!!!

 

[RaceBoarder]

Let's also not forget the irony that back when car dealer's had like 20 vehicles on a lot that normally holds 125 and they were actually getting more for used cars than the original sticker price was, dealers would walk away from cash sales... Like they wouldn't sell the car to you UNLESS you financed through them...

But then again, why let facts get in the way of a good story, ha ha...

 

[Chuck Murray]

I love it that even when I've been away awhile, I'm still living rent-free in SO many of your heads on here LOL ...

 

[Chuck Murray]

All this talk about Fearless Thought Leader's choice of transportation made me think of these ...

 

[MichVandal]

His was pointing out the folly of Whalers' argument that if you're not paying cash for a car you can't also claim to be wicked smaht.

So basically he's on the bandwagon of over buying for the sake of overbuying. Which is much of the reason we have McMansions and massive personal debt.

Makes sense.

 

[Slap Shot]

So basically he's on the bandwagon of over buying for the sake of overbuying. Which is much of the reason we have McMansions and massive personal debt.

Makes sense.

You can't afford to walk away from the MSRP. The dealer is losing money on the sale and it's a special offer for today only.

Oh and don't forget the truecoat.

 

[burd]

In the past few years people have actually paid more for cars when they were used than what they cost new.

A little puddle of oil under that there argument, Drew.

 

[WeAreNDHockey]

More bad news for Biden with the election 10 months out.

 

[Kepler]

More bad news for Biden with the election 10 months out.

He would be above 80% approval with a reasonable electorate.

 

[dxmnkd316]

It's almost like bonking people over the head with inflation news despite being under 5% for months now was enough to make people think inflation was still "high"

The press is going to get themselves garroted.

 

[TalonsUpPuckDown]

In the past few years people have actually paid more for cars when they were used than what they cost new.

If you were to say that over the past few years selling used cars were more profitable for dealers than selling new cars, you'd be correct. And it's been true for over a decade, actually.