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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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#273 of 328
Re: financing [bls2753] by deserth8r
Jul 24, 2006 (3:06 pm)
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Replying to: bls2753 (Jul 23, 2006 10:08 pm)

It is not impossible, I made over 50k a year when I was 19, of course I was working about 80 hrs a week, but that overtime pay was nice.
#274 of 328
Re: financing [asafonov] by bls2753
Jul 27, 2006 (11:34 pm)
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Replying to: asafonov (Jul 24, 2006 8:29 am)

I'm talking lower midwest and south, small rural towns. BHPH is the norm. Maybe the few Doctors, Lawyers, Bankers, can afford new cars, everyone else it's BHPH.
 
Get out of your upper middle class subdivision and look around.
 
I'm am an adjunct instructor at a local community college, have a masters degree and make 28K a year. Live quite adequately thank you. I always drive BHPH cars, and I'm not ashamed to admit it. And yes, 30K houses here do exist, and they're not shacks.
#275 of 328
Re: financing by sky23213
Jul 28, 2006 (11:15 am)
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Replying to: bls2753 (Jul 27, 2006 11:34 pm)

First I thought you misspoke and you meant the average household income, not average 3 bedroom home. But now you got me curious. Unless you really stress on "home" (vs "house"), what would be a 25K-30K home, and where? Unless that includes mobile homes, which would be a far cry from "an average 3-bedroom home".
Get out of your upper middle class subdivision and look around.
Do it every day, and after reading this thread I vividly remember my first car buying experience from a classic BHPH. Didn't now it was one at the time, but what a stinky outfit...
I don't mean to be mean or anything, but I think you might be a little off in your perception, not the rest of us.
#276 of 328
Re: financing [bls2753] by asafonov
Jul 29, 2006 (2:22 pm)
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Replying to: bls2753 (Jul 27, 2006 11:34 pm)

I'm talking lower midwest and south, small rural towns. BHPH is the norm. Maybe the few Doctors, Lawyers, Bankers, can afford new cars, everyone else it's BHPH.
 
No argument from me here.
 
Get out of your upper middle class subdivision and look around.
 
I live in the city - Saint Paul (though not downtown, hardly anybody lives there.)
 
I'm am an adjunct instructor at a local community college, have a masters degree and make 28K a year. Live quite adequately thank you. I always drive BHPH cars, and I'm not ashamed to admit it. And yes, 30K houses here do exist, and they're not shacks.
 
Good for you (but boy, am I glad I chose industry over academia - and primarily because of the tenure treadmill, not money.) And I mostly buy and drive used cars, too - though usually privately, not through BHPH.
 
30k 3-bedroom houses, though? Please email an ad for one or two privately.
#277 of 328
Re: financing [snakeweasel] by explorerx4
Jul 29, 2006 (3:26 pm)
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Replying to: snakeweasel (Jun 13, 2006 11:46 am)

it's pretty much, 'how much did you make?', we'll take 5%.
and don't forget to pay your property taxes too.
#278 of 328
Re: financing [bls2753] by explorerx4
Jul 29, 2006 (3:28 pm)
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Replying to: bls2753 (Jul 27, 2006 11:34 pm)

what is your specialty do you have your masters in?
#279 of 328
Re: financing [bls2753] by cadillacmike
Aug 13, 2006 (5:37 am)
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Replying to: bls2753 (Jul 24, 2006 1:40 am)

That first paragraph if entered into an excel spreadsheet would produce the message "circular reference error".
 
That second para - where are the $25,000.0 3-bedroom homes - I'll buy 4 right away if there are any in FL!!!
#280 of 328
Re: financing [cadillacmike] by bls2753
Oct 10, 2006 (10:11 pm)
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Replying to: cadillacmike (Aug 13, 2006 5:37 am)

Well maybe 30K houses are not the norm, but overall the cost of living is much lower. But new cars are the same price wherever you live, so their cost represents an overall larger proportion of income in areas where income is lower. I suppose comparing monthly housing expenses to a car payment would be a better barometer. I would guess most new car payments would be $400-500 month unless you have a significant down payment. Which is equal to housing expense in some areas of the country.
 
Patronage of BHPH dealers is not always a result of bad credit or stupidity. It may be true in large east coast urban areas, but not everywhere.
 
I will admit with the advent of the internet, finding good used cars at half the price of local BHPH lots is a much better value.
 
At the end of the day, all car financing is a rip-off no matter where you buy. Buy the most car you can pay cash for.
#281 of 328
Re: financing [bls2753] by mac24
Oct 11, 2006 (8:52 am)
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Replying to: bls2753 (Oct 10, 2006 10:11 pm)

At the end of the day, all car financing is a rip-off no matter where you buy.
 
Even the 0% deals?
#282 of 328
Re: financing [bls2753] by isellhondas
Oct 11, 2006 (12:35 pm)
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Replying to: bls2753 (Oct 10, 2006 10:11 pm)

All car financing is a rip off?
 
Where do you get this?
 
Not everybody can afford to pay cash for their cars like you obviously are able to.

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