THREW IN THE TOWEL

[1_2Many]

Originally Posted by garagelogic

I have what I have is because of the sound financial advice and example I received from my grandparents, parents and others, not because I was born into money. My father was a farmer in the '70's-'80's and when the bottom fell out of that, he worked to get his CDL and was a commercial truck driver until he retired. In order to buy my first car, I worked and entire summer and was able to by a then 18 year-old car for $1200. I drove that car from the time I was 16 until I was 23. I bought my second car used for $7800 and it was 3 years old when I purchased it. I drove that car until I was 28. Here's the thing, I could have purchased and financed a new(er) car at several points during those 14 years, but instead I drove out-dated, paid-for cars while all my friends sported the latest and greatest new vehicles. Instead, I saved the money that would have otherwise gone into some bankers pocket and this allowed me to pay cash for almost every car since then. Yeah, the 14 years of driving less than stellar vehicles sucked, but the long-term results of that action more than make up for the bruises to my ego. if something I say causes just one person to stop and think about what they are doing and prevents them from making a poor financial choice, then I will be glad to continue to point these things out regardless of how that makes some people feel about me as a person.


I rest my case.

It matters to me, and it should to everyone else, because no man (or family) is an island. The bad financial decisions others make can impact me, you and the rest of the world. Do you think all this money the government is spending is just being created out of thin air? The government has no money other than what it take from its citizens. I am being forced, via taxation and other means, to pay for the poor financial decisions that others have made. That's why it matters to me. Too many people have their head in the sand on this matter and it's time that people start calling people out for the stupid things they are doing that is going to hurt all of us in the long run.

Sorry folks, but as long as there are people out there who are willing to have me pay for someone else's mistakes/errors, your business is my business.

You have a novel way of thinking, but in this modern world unfortunately it doesn't work that way. Credit companies and bank loans are the American (and European, Asian, etc) way...good luck with your campaign of change though. It may take a while to see results.

If I lived forever maybe I would take your advice and spend the next 8 years saving up to pay cash for my next new car, but because I know this life is a short life I intend to enjoy it as much as possible. I have no children or spouse so it's me that will have to suffer any consequences. I pay my bills in full and on time...always have, always will. The only person who loses out is me because I pay interest.

[Blownhotrodder]

Originally Posted by garagelogic

It matters to me, and it should to everyone else, because no man (or family) is an island. The bad financial decisions others make can impact me, you and the rest of the world. Do you think all this money the government is spending is just being created out of thin air? The government has no money other than what it take from its citizens. I am being forced, via taxation and other means, to pay for the poor financial decisions that others have made. That's why it matters to me. Too many people have their head in the sand on this matter and it's time that people start calling people out for the stupid things they are doing that is going to hurt all of us in the long run.

Funny they teach sex ed in school, hand out condoms without parental consent, force you to learn a foreign language but dont teach proper managing of ones own finances or resposibilities.

[Silver Streak]

Originally Posted by garagelogic

I have what I have is because of the sound financial advice and example I received from my grandparents, parents and others, not because I was born into money. My father was a farmer in the '70's-'80's and when the bottom fell out of that, he worked to get his CDL and was a commercial truck driver until he retired. In order to buy my first car, I worked and entire summer and was able to by a then 18 year-old car for $1200. I drove that car from the time I was 16 until I was 23. I bought my second car used for $7800 and it was 3 years old when I purchased it. I drove that car until I was 28. Here's the thing, I could have purchased and financed a new(er) car at several points during those 14 years, but instead I drove out-dated, paid-for cars while all my friends sported the latest and greatest new vehicles. Instead, I saved the money that would have otherwise gone into some bankers pocket and this allowed me to pay cash for almost every car since then. Yeah, the 14 years of driving less than stellar vehicles sucked, but the long-term results of that action more than make up for the bruises to my ego. if something I say causes just one person to stop and think about what they are doing and prevents them from making a poor financial choice, then I will be glad to continue to point these things out regardless of how that makes some people feel about me as a person.


I rest my case.

It matters to me, and it should to everyone else, because no man (or family) is an island. The bad financial decisions others make can impact me, you and the rest of the world. Do you think all this money the government is spending is just being created out of thin air? The government has no money other than what it take from its citizens. I am being forced, via taxation and other means, to pay for the poor financial decisions that others have made. That's why it matters to me. Too many people have their head in the sand on this matter and it's time that people start calling people out for the stupid things they are doing that is going to hurt all of us in the long run.

Sorry folks, but as long as there are people out there who are willing to have me pay for someone else's mistakes/errors, your business is my business.

I don't think you have read fully what I posted. Let me try again. "The only thing that matters is if it gets paid for or not. If they can make the payments, what does it matter to you?"
The loans that have been paid off have not ruined this economy! So what does it matter to you if someone has done what they contracted to do. I think you need to get over it. There are plenty of people who have paid off there loans and what problem could you possibly have with them? And sorry buddy I don't think saving $200k for a house is a feasable solution, otherwise the homeowners around would be the well to be's and senior citizens. Not the kind of economy I would like to live in. Yes there are problems, but them problems come from people not paying there mortgages for many different reasons, but the ones who have paid again, What is your problem with them?

[garagelogic]

Originally Posted by Silver Streak

I don't think you have read fully what I posted. Let me try again. "The only thing that matters is if it gets paid for or not. If they can make the payments, what does it matter to you?"
The loans that have been paid off have not ruined this economy! So what does it matter to you if someone has done what they contracted to do. I think you need to get over it. There are plenty of people who have paid off there loans and what problem could you possibly have with them? And sorry buddy I don't think saving $200k for a house is a feasable solution, otherwise the homeowners around would be the well to be's and senior citizens. Not the kind of economy I would like to live in. Yes there are problems, but them problems come from people not paying there mortgages for many different reasons, but the ones who have paid again, What is your problem with them?

I can't recall where I ever said that financing was a bad thing or that, in some cases, might be required. What we were talking about was long-term (60 months plus) for a car simply for the sake of keeping the monthly payment low.

I have no issue with anyone using credit, but I think too many people go into buying something with little or no thought to the long-term consequences of what they would do if their current financial conditions changed during the term of the loan. When that happens, and if those same people are unable to meet their financial obligations, then it becomes an issue for us all.

If they can't pay for the car, that means the car gets repossesed, When that happens, the institution that financed the vehicle will have a cost associated with trying to reclaim the car and auction it off (for much less than the value of the car, let alone the loan amount). The bank now has a loss on it's books that it now has to make up. They do this by raising the customers cost of doing business with them. If the costs are too high, customers leave. This could bring the value of stock down for owners and without the customers, the bank no longer needs as many employees so they hve to lay people off. When they lay people off, some of them may no longer be able to meet their financial obligations because they were already living check-to-check prior to losing their job. See how this works.

I'm not telling anyone not to finance, I'm saying they need to think things out thoroughly before they pull the trigger on some long-term financing deal for a want like a new sportscar.

Based on your last statement, am I to believe you are happy living in our current economy? I think if you are, you're in the minority in this country.

[Silver Streak]

Originally Posted by garagelogic

I can't recall where I ever said that financing was a bad thing or that, in some cases, might be required. What we were talking about was long-term (60 months plus) for a car simply for the sake of keeping the monthly payment low.

I have no issue with anyone using credit, but I think too many people go into buying something with little or no thought to the long-term consequences of what they would do if their current financial conditions changed during the term of the loan. When that happens, and if those same people are unable to meet their financial obligations, then it becomes an issue for us all.

If they can't pay for the car, that means the car gets repossesed, When that happens, the institution that financed the vehicle will have a cost associated with trying to reclaim the car and auction it off (for much less than the value of the car, let alone the loan amount). The bank now has a loss on it's books that it now has to make up. They do this by raising the customers cost of doing business with them. If the costs are too high, customers leave. This could bring the value of stock down for owners and without the customers, the bank no longer needs as many employees so they hve to lay people off. When they lay people off, some of them may no longer be able to meet their financial obligations because they were already living check-to-check prior to losing their job. See how this works.

I'm not telling anyone not to finance, I'm saying they need to think things out thoroughly before they pull the trigger on some long-term financing deal for a want like a new sportscar.

Based on your last statement, am I to believe you are happy living in our current economy? I think if you are, you're in the minority in this country.

This will be my last reply to you. Thanks again for economics 101. You know I think this forum is not the place that will ever make a difference to the outcome of our economy. And if you think from my last statement that I enjoy the situation we are in with this economy then again you misread. You think that you have all the answers for everyone else, fine keep being diluted. No one came for your councel, and I am sure no one came here to be lectured by you. You are judging without knowing, if someone wants a 60 month finance on there new car, it is up to them and the creditor. Not you. And if you think that the only factor to our economic crisis is people chewing off more than they can chew, you are highly mistaken. I'm sorry everything doesn't fit into your perfect little world, but until you are living in someone elses shoes, you have no right to tell them what to do. Finances are personal! Your idea of what things should be like is a perfect world scenario, not reality. And I am sorry if you think that hard working people and businesses should not be given the same chances to get ahead instead of saving all there pennies hoping one day before they die they'll be able to kick back in there lazyboy and watch the poop tube in there own damn house. Your ideals don't go there. Someone who takes out more than they can afford, there are many parties at fault when this happens, not just the person who took the loan. What about the creditors who give the loan, what about the government that lets the creditors do this. The only thing I find myself agreeing with you about is the responsibility of everyones self. Yes we need to make wiser descisions, but do I think that people should not have the oppurtunity to make mistakes. No I don't. It's like your kid asking for the keys. You give them the keys, you give them the chance, and if they mess up, next time they don't get the keys. Until someone burdens others with their choices it is none of our damn business what they do or how they do it. Sorry but my business IS NOT yours!
Peace out!

[RallyFever]

Originally Posted by Silver Streak

Is all 451 post of yours calling people liars? I really don't care what you believe. I believe him, and no I don't have a quote for I am not interested, so what! I also believe lieing is spelled lying. So what!

+1

Sounds like 1 2 Many is clueless.
MSRP loaded is 37k - EP - rebate, etc.
RT's have been going for 27-33k for well over a month now.
where has this guy been?????

[The_Blur]

That's a good deal. While this won't stop me from poking fun at your car, I want you to know that the Challenger is a respectable car. We may not all make the same decision, but I'm hoping that you stay around and correct us when we bring too much criticism to your car. I think you made a good call.

[TheCavalry]

I would like to drive a Challenger. One thing I'll give it, it looks daaaaaaaaaamn good

[Maddog78]

I have to agree with Garagelogic.
It is the over reliance on financing that has got us all in this mess in the first place.
So many people have this "I got to have it now" attitude.
IMO, if you don't have at least 1/3rd to put down on this car you really should be waiting on buying it.
I have only had one car loan my entire life and that was my 2nd car back in 1979 when I was 20 yrs. old and I paid it off in 7 months.
My last car bought is a 2005 911 and I paid cash.
Sure I've been lucky and worked hard to have a good income most of my life but I've also had the sense not to get myself into debt. If I didn't have the money to buy something I didn't.
Even my house I put %25 down and paid it off in 11.5 yrs.
Don't over extend yourself, especially in these uncertain times.
One thing for sure, used sports cars aren't going to worth much when there is %10+ unemployment. Many are going to be in the situation where they have lost their small down payment and they owe more on the car than it is worth. Not a good situation to be in.


To the OP, congrats on the car.

[1_2Many]

Originally Posted by RallyFever

+1

Sounds like 1 2 Many is clueless.
MSRP loaded is 37k - EP - rebate, etc.
RT's have been going for 27-33k for well over a month now.
where has this guy been?????

I am clueless for not believing something posted on the internet by a user with 25 posts? Really?

Have you personally got quotes on a Challenger R/T from dealerships in your area? Have you? I have and so far the best deal I have found was a stripped down bare minimum no frills R/T for $30k.

I don't care what people claim...I have been around long enough to know people both exagerate and lie on the internet. My opinion is that you sir are the one who is "clueless" for blindly believing what you read without question. You are a politician's dream.

[GTAHVIT]

Cease Fire.

Calmness, serenety, inner peace.

Leave personal attacks out of your posts.

Getting tired of asking...

[Muscle Master]

Financing for 84 months is ridiculous, But I was going to refinance for 60 months ( planning on keeping this car until I die so whats the rush ), and maybe 1 or 2 years down I can refinance thus a lower monthly payment

with a $7,500.00 down payment, I am looking at about $502 a month give or take

but as someone said, everyone has a preference on how to payoff a car

[bigralph]

Originally Posted by Maddog78

I have to agree with Garagelogic.
It is the over reliance on financing that has got us all in this mess in the first place.
So many people have this "I got to have it now" attitude.
IMO, if you don't have at least 1/3rd to put down on this car you really should be waiting on buying it.
I have only had one car loan my entire life and that was my 2nd car back in 1979 when I was 20 yrs. old and I paid it off in 7 months.
My last car bought is a 2005 911 and I paid cash.
Sure I've been lucky and worked hard to have a good income most of my life but I've also had the sense not to get myself into debt. If I didn't have the money to buy something I didn't.
Even my house I put %25 down and paid it off in 11.5 yrs.
Don't over extend yourself, especially in these uncertain times.
One thing for sure, used sports cars aren't going to worth much when there is %10+ unemployment. Many are going to be in the situation where they have lost their small down payment and they owe more on the car than it is worth. Not a good situation to be in.


To the OP, congrats on the car.