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328 messages,  Last post on Jul 19, 2009 at 7:42 PM

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What is this discussion about? Car Financing


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#261 of 328
Good cheap cars... by lemko
Jun 09, 2006 (5:54 am)
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...can be found and often the last place you look. I just bought a 1988 Buick Park Avenue with 81K on it for $1,295 last November and it is still going strong. I've driven it regularly since then and have never needed to put any money into it. The car was found at a tiny repair shop on a corner near my workplace. It turned out this car belonged to the brother of the owner who passed away last July. Now, if this car pukes a transmission or something, it goes off to the scrap dealer. However, it has already paid for itself in the time I've had it.
#262 of 328
Re: Good cheap cars... [lemko] by devond
Jun 09, 2006 (1:01 pm)
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Replying to: lemko (Jun 09, 2006 5:54 am)

My big thing is throwing $10,000 OF my hard earned cash into a car. I guess I am just going to have to suck it up and do it thanks for the advice all
#263 of 328
Re: Good cheap cars... [devond] by bobst
Jun 09, 2006 (4:19 pm)
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Replying to: devond (Jun 09, 2006 1:01 pm)

My advice:
 
Keep driving your fiance's Mercedes until you have enough saved to buy a nice car, like our Accord which cost $20800 OTD.
 
Then keep that car for a long time, like 8-10 years.
 
Yeah, I know it feels strange to write a check for $20800, but I think it is the right thing to do.
#264 of 328
Re: Good cheap cars... [devond] by the_big_al
Jun 27, 2008 (3:16 pm)
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Replying to: devond (Jun 09, 2006 1:01 pm)

so you have a hard time throwing 10K of your hard earned cash into a car but... you have no problem driving your fiance's Mercedes that either she/he (you never mentioned gender so I want to be PC ) or her/his parents paid probably at least 3 times that with thier hard earned cash? And they don't even get to enjoy it? I think there is something wrong with that picture. I will put your words you said back into your mouth... suck it up, take the advice that has been given and get your own set of wheels that you can be proud to say you own.
#265 of 328
Re: financing [devond] by snakeweasel
Jun 13, 2006 (8:10 am)
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Replying to: devond (Jun 08, 2006 1:14 pm)

that $7,000 is taxed so my actual take home pay is about $4,000.
 
That can't be right, $7K a month after Federal withholding would be about $5,550, add $500 for social security and you should have over $5,000 less any state tax withholding which should only be maybe 2-300.
#266 of 328
Re: financing [snakeweasel] by british_rover
Jun 13, 2006 (8:12 am)
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Replying to: snakeweasel (Jun 13, 2006 8:10 am)

You dont know if he contributes to a HSA or 401k though. You also don't know what state he lives in. I wish CT only took 300 bucks a month in state income tax.
#267 of 328
Re: financing [british_rover] by snakeweasel
Jun 13, 2006 (10:33 am)
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Replying to: british_rover (Jun 13, 2006 8:12 am)

True, but he just said it was taxed and not that he had any other withholdings. What is CT's tax rate anyway?
#268 of 328
Re: financing [snakeweasel] by british_rover
Jun 13, 2006 (11:24 am)
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Replying to: snakeweasel (Jun 13, 2006 10:33 am)

I didn't do my own taxes this year, first time in a long time I have not, and last year was the first year I worked in CT so I am not sure.
 
If I were to guess I would say 5% of taxable income.
#269 of 328
Re: financing [british_rover] by snakeweasel
Jun 13, 2006 (11:46 am)
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Replying to: british_rover (Jun 13, 2006 11:24 am)

I looked it up and its a graduated income tax. Starts at 1.5% and goes up to 5%. So even that would make it under $350. Hey but be of good cheer some states are at 8-9%, and the state that I am sure is making a fortune on tourism has one of the highest state income tax.
 
Anyway this is getting off topic, back to your regually scheduled slugfest.
#270 of 328
Re: financing [snakeweasel] by bls2753
Jul 23, 2006 (10:08 pm)
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Replying to: snakeweasel (Jun 13, 2006 8:10 am)

I want to know what kind of education/skills this individual has, to be able to earn $84K a year, at 23 years of age?

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