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March, 2024

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Car payments...

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skia4life89
Posts: 2400 - Karma: 172
Do they suck? Is it worth it working 30hrs a week at $10 and hour?
I have a explorer, runs good, but it starting to get old. There is a redic truck at a local car lot that i really want..its like $15,000. Like i said i really want it, but i have never had a car payment before so i am extremely hesitant..any nsers out there have car payments?
Dec 27 2010 10:19PM
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dbchili
Posts: 2555 - Karma: 1,657
save the money, invest it in an education, ten years down the road a $15,000 car will be pocket change
Dec 27 2010 10:22PM
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skia4life89
Posts: 2400 - Karma: 172
haha this is very true..good point.
Dec 27 2010 10:23PM
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eheath
Posts: 61104 - Karma: 118,269
I did an 8000 dollar loan for 4 years and my payment was 190 a month. It was cake to pay off, worked summers to save up to pay payments while i didnt work in the winter. Feels so good to have it paid off too. If feels like its gonna take forever to pay off, but it comes quick.
Dec 27 2010 10:27PM
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Fish_Sandwich.
Posts: 9108 - Karma: 16
This is what I'm doing.
Rockin a 1990 Volvo 740 GL with 250k right now, shits dope.
I'll get the Z8 within 10 years, god damn that car is sex on wheels.
Dec 27 2010 10:28PM
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No_Dub
Posts: 3357 - Karma: 294
this
Dec 27 2010 10:28PM
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geteducated
Posts: 6410 - Karma: 86
drive what will get you from point a to b safely for a reasonable price.

cars are the worst investment next to boats. warren buffet knows this and thats why he had a buick for a long time, even though he is worth billions.

Dec 27 2010 10:29PM
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chardi
Posts: 5040 - Karma: 59
this is true, but people don't buy cars as investments. as soon as you buy a car its worth gets cut in half, so you buy a car for yourself, and unless you restore them its always a losing investment. warren buffet could buy any car he wants, but some people just aren't into nice cars
Dec 27 2010 10:32PM
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J.DUKE
Posts: 1233 - Karma: 38
a car payment is pretty much the worst thing next to AIDS. save your pennies, and pay all at once
Dec 27 2010 10:34PM
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tjski
Posts: 5859 - Karma: 44
they suck.. andy if your only making $10 an hour and only for thirty a week its gunna take up a lot of your money.. if you have rent, bills, etc i would say no. but if you dont have any rent, bills, etc i would say its not gunna be too bad.
Dec 27 2010 10:58PM
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skia4life89
Posts: 2400 - Karma: 172
well i only have a $72 phone bill and a $65 cable and electric bill so i really dont have that much coming out of pocket each month.
Dec 27 2010 11:05PM
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Keyjibbs
Posts: 1542 - Karma: 96
Want to know how to get rich? Don't buy expensive cars. Buy a cheap car with cash you have saved up. Then every month invest the $150-200 you would spend on a car payment. Boom you're rich in a good 40 years.
Dec 27 2010 11:11PM
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skier_boy26
Posts: 11295 - Karma: 502
payments kind of suck. If you have a stable job, budget properly, it's no big deal.

but if you decide to do something where a payment could be a nuisance (e.g. travel) and you might not have stable income, then it doesn't feel too good.

i would probably hold off personally. Getting locked in to that kind of cash money pins you down a little bit.
Dec 27 2010 11:13PM
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Fish_Sandwich.
Posts: 9108 - Karma: 16
Damn, you got a pretty good rate.  That's not a bad deal at all.
Dec 27 2010 11:15PM
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