What vehicle do you drive?
- Thread starter Marmac
- Start date
Asshat Foler
Log Wizard
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Fucker
Log Wizard
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Soygen
The Dirty Dozen For the Price of One
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Fucker
Log Wizard
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I almost bought it when I got my model 3 long range. It was like 5-6k. But here in Canada the Cameras are all dirty during winter. I decided it was not worth it. I would rent it a month if I go on a big road trip.
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ronne
Nǐ hǎo, yǒu jīn zi ma?
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I'm all in on the Gigahorse.
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Hateyou
Not Great, Not Terrible
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Haus
I am Big Balls!
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And here's why. Being completely debt free is for the upper middle class. Knowing how to work debt to your advantage is the rich person's game. Let's take a car at 0% as an example...
We all know inflation is a thing, and it's real. $1 this year will be worth $.90 next year in purchasing power, and so on and such. for this hypothetical let's say inflation is 5% a year.
Lets say you have a $24k car, and 0% and pay $1000 a month over 24 months. You could pay $24k right now, and be done with it as well.
If you take the lump payment and invest the $24k in cash you have in even a sub S&P performing ETF you're making positive interest on it (again, let's hypothetically say 5%). Then each month you pay your $1000, which is buying you less and less each month anyways due to inflation (effectively -5% interest). You're making money on the delta between your inflation adjusted interest rate (Interest rate minus inflation rate) versus your investment accurals (+5%). SO in this hypothetical you're making 10% to invest that lump sum and pay a car payment from your salary or whatever rather than pay it all up front.
This is why as long as my mortgage rate is sub 3.5% and my investments are making positive money I'm not going to sell my investments to pay off my mortgage.
Most truly wealthy people accumulate assets, and then borrow against those to live so they never effectively sell any of their hard assets so long as their living expenses are under the appreciation rate of the asset in the long term in an environment where inflation is a constant.
You really need to stop thinking like new money bro....
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Hekotat
FoH nuclear response team
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See thisHekotat ? Will be outside my price range I’m sure but still cool to see another in the hot hatch space.
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It'll all come down to pricing. I really like the Veloster N, Miata RF, GR86/BRZ but the prices are hilarious to me.
I'm still not buying shit til I see how this economy goes the next few years. I'd rather not have a shitload of debt hanging over my head.
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Hateyou
Not Great, Not Terrible
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Think they had to it they wanted any chance of selling well. The guys who drove integras 20 years ago are old with a family now.
Burren
Ahn'Qiraj Raider
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Prices on goods are going to stay up, even if a correction happens. It won't be like it was 2010-2019. Too much currency pumped into the economy which has devalued the dollar and too many parts of the supply chain - of everything around the world - constrained and higher priced. It sucks, but we'll have to get used to it.
A car I bought this year in April has gone up in value 38% simply because the market is demanding it.
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Hekotat
FoH nuclear response team
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I understand that, however I’m debt free and worried about losing my income due to government shenanigans.
Burren
Ahn'Qiraj Raider
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Well, nothing wrong with trying to reduce or eliminate bad debt.
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Burnem Wizfyre
Log Wizard
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Didn’t know this thread existed, was posting in the grown up thread. Made 20k off AMC, traded in my old car and paid 16k cash and change. 2019 Ram 1500 classic Warlock edition with 11k miles.
How it started vs where it is today.
How it started vs where it is today.
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Just got an email from my dealership, they want to buy the truck I bought four months ago and upgrade it for the same price, so I'd get a brand new truck with more features and they'd get my slightly used truck. I don't get it.
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Hekotat
FoH nuclear response team
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Used car prices are up 40%, they can make more money off of it. They are offering more than I paid for mine 3 years ago right now, I'm seriously considering it.
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