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S t r e t c h i n g To Buy More Than One Can Afford

85 messages,  Last post on May 13, 2013 at 9:26 AM

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What is this discussion about? Car Financing

Messages Page 3 of 9

#21 of 85 Re: Car Stamps [corvette] by steve_ HOST

Nov 11, 2011 (7:02 am)

Replying to: corvette (Nov 10, 2011 9:28 pm)
I had to go look that up. But that's okay, I don't know who Annie E. Casey is/was either.

#22 of 85 Re: Car Stamps [steve_] by graphicguy

Nov 11, 2011 (7:21 am)

Replying to: steve_ (Nov 07, 2011 6:28 am)
Not sure what it's like getting a car loan these days. I know a couple of years ago, I kept reading that no one was offering leases because of the collapse of GM and Chrysler. Not sure about loans, either. If financial institutions are really tightening the reins, those who are trying to get a Benz on a Corolla income maybe SOL.

#23 of 85 Re: Car Stamps [steve_] by robr2

Nov 11, 2011 (10:45 am)

Replying to: steve_ (Nov 11, 2011 7:02 am)
I had to go look that up. But that's okay, I don't know who Annie E. Casey is/was either.
 
Annie E. Casey was the mother of Jim Casey who founded UPS. He had no children and started a foundation in his mother's honor (a widow in the 1890's/1900's raising 4 children).
 
According to aecf.org:
 
"The primary mission of the Foundation is to foster public policies, human-service reforms, and community supports that more effectively meet the needs of today’s vulnerable children and families. In pursuit of this goal, the Foundation makes grants that help states, cities and neighborhoods fashion more innovative, cost-effective responses to these needs."

#24 of 85 Re: Car Stamps [robr2] by steve_ HOST

Nov 11, 2011 (10:48 am)

Replying to: robr2 (Nov 11, 2011 10:45 am)
There you go - need to get a truck guy to get cars into the hands of the working poor.

#25 of 85 Re: S t r e t c h i n g To Buy More Than One Can Afford [fezo] by jennauk

Nov 12, 2011 (7:37 am)

Replying to: fezo (Sep 22, 2011 12:26 pm)
My other half took delivery of the new KIA Sportage top 3 spec with Satnav & the 'rest'.
 
Our thoughts were around getting 'everything' we wanted, rather than what we needed. However, we did spend half an hour on the motorway, trying to get the cruise control to work. So far, it still does NOT work!
 
While Matin played with the 'switches & knobs', I had my head lost in the driver's manual which genuinely is bigger than the local telephone directory!
 
When KIA delivered the car, it was a case of 'here's your spare, here's your ignition, here's the lever to fill up, here are your keys, enjoy your car!'
 
Oh, and don't forget, 'press this switch to fold your mirrors!'
 
Yeah, so maybe buying the top spec was not such a good idea if we can't even get the cruise control to work!
 
Will chat with KIA on Monday - no way for us to know if the cruise control simply does not work, or if it is so complicated to set it, that you need instructions on the windscreen!
 
Will keep you informed on how things work out!

#26 of 85 There is a slightly different side to this by qbrozen

Nov 15, 2011 (9:03 am)

It's not that I can't "afford" my cars, but I do feel somewhat guilty that I blow so much money on them. Granted, my primary car cost all of $15k, but I do have 2 others to supplement. Add in my wife's T&C and 25-year-old Benz and we have a bit over $50k tied up in these vehicles and depreciating every day (some more than others). BUT, on the other hand, that's an average of $10k per vehicle. So it all depends on how you look at it.

#27 of 85 Re: There is a slightly different side to this [qbrozen] by andre1969

Nov 15, 2011 (9:39 am)

Replying to: qbrozen (Nov 15, 2011 9:03 am)
It's not that I can't "afford" my cars, but I do feel somewhat guilty that I blow so much money on them.
 
Same here, and I'm finding that the older I get, the more adverse I am to spending large amounts of money on cars. Psychologically, it feels like the $7500 I spent to buy my Park Ave two years ago "hurt" more than the $22K that my Intrepid cost me, twelve years ago!

#28 of 85 Re: There is a slightly different side to this [andre1969] by michaell

Nov 15, 2011 (10:13 am)

Replying to: andre1969 (Nov 15, 2011 9:39 am)
Psychologically, it feels like the $7500 I spent to buy my Park Ave two years ago "hurt" more than the $22K that my Intrepid cost me, twelve years ago!
 
Yeah, but didn't you make payments on the 'Trep ($347.xx) and wrote one big check for the PA?
 
I'm guessing that if you decide to sell the PA to the roommate, dump the Silverado and get a newer DD you'll make payments, since everything you've been looking at has been between $15-25K.

#29 of 85 Re: There is a slightly different side to this [michaell] by fezo

Nov 15, 2011 (11:48 am)

Replying to: michaell (Nov 15, 2011 10:13 am)
I think this is part of the aging process. I thought little of the $400 a month payment on the Windstall but now dislike going over $300 a month on a car when I have more money.

#30 of 85 Re: There is a slightly different side to this [michaell] by andre1969

Nov 15, 2011 (12:02 pm)

Replying to: michaell (Nov 15, 2011 10:13 am)
Yeah, but didn't you make payments on the 'Trep ($347.xx) and wrote one big check for the PA?
 
Yep, the Trep was $2000 down and $347.66 (that number will probably stick in my mind for life) for 60 months. I was also able to psyche myself into justifying the Intrepid. I had just refinanced my mortgage a few months before, saving around $200 per month. And I estimated that, compared to the '89 Gran Fury police guzzler I had been driving, the Trep would save around $125-150 per month in fuel. So, right there, that just about covers the monthly payment. Of course, there were other factors, such as insurance on the Trep, and the fact that while the mortgage was ~$200/mo cheaper, that was also ~$200/mo less that I could write off on my taxes.
 
I was also still delivering pizzas back then, and in a good week, would make roughly that monthly payment. And I had the option to pick up more nights if I really needed to.
 
So, in the overall scheme of things, the Intrepid really didn't affect my monthly expenses, other than the initial hiccup of the $20000 down payment.
 
I'm guessing that if you decide to sell the PA to the roommate, dump the Silverado and get a newer DD you'll make payments, since everything you've been looking at has been between $15-25K.
 
Yeah, and I'm still procrastinating on that. I really don't want to get back into monthly payments. Plus, my automotive tastes have been all over the map lately. Heck, my most recent fixation is a 2006-2007 Lucerne V-8...even though initially one criteria was that whatever new car I get has to get better fuel economy than the Park Ave!

Messages Page 3 of 9

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