Will Not Buying A New Car NOW Come Back.....

DEEKAYPEE8569

DEEKAYPEE8569

Well-Known Member
.....to bit me in the a**.

This morning I heard someone saying, 'Well, we go pick up the new truck this week,' etc., etc. I'm just wondering if my not doing the same thing now is going to be a mistake. By that I mean, look into a new car purchase.

I know one of if not THE most important questions is, 'well, can you afford it right now?' Well, who can?; besides new truck guy.
 
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GWguy

GWguy

*
DEEKAYPEE8569 said:
.....to bit me in the a**.

This morning I heard someone saying, 'Well, we go pick up the new truck this week,' etc., etc. I'm just wondering if my not doing the same thing now is going to be a mistake. By that I mean, look into a new car purchase.

I know one of if not THE most important questions is, 'well, can you afford it right now?' Well, who can?; besides new truck guy.
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Hindsight is always 20/20. However, loan rates are low, car lots are overflowing. That doesn't mean you automatically get a fantastic deal, but if you don't look, you won't know.
 
DEEKAYPEE8569

DEEKAYPEE8569

Well-Known Member
GWguy said:
Hindsight is always 20/20. However, loan rates are low, car lots are overflowing. That doesn't mean you automatically get a fantastic deal, but if you don't look, you won't know.
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That's true. But then, there's the 'can't spend what you don't have a whole lot of in the first place' issue. That's mostly what my problem is. Da**it.....

Funny thing though. I found a car at a VA dealership; just over the bridge; a couple months ago, so I went to my Credit Union, applied for and got the loan and had the check in my hand but for lack of a ride to the dealership; because I didn't trade in my car; I returned the 30-sum-thousand dollar check to the bank with interest and forgot about the whole thing.

Now I'm wondering if I ****'d up.
 
Cowgirl

Cowgirl

Well-Known Member
DEEKAYPEE8569 said:
That's true. But then, there's the 'can't spend what you don't have a whole lot of in the first place' issue. That's mostly what my problem is. Da**it.....

Funny thing though. I found a car at a VA dealership; just over the bridge; a couple months ago, so I went to my Credit Union, applied for and got the loan and had the check in my hand but for lack of a ride to the dealership; because I didn't trade in my car; I returned the 30-sum-thousand dollar check to the bank with interest and forgot about the whole thing.

Now I'm wondering if I ****'d up.
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:confused: If you don't have the money for a car, don't buy one. Even if it's a good deal, you still don't have the money. Wait until you're more financially stable and then buy one.

Besides, why in the world would you buy a new car? They depreciate like crazy the moment you drive off the lot.
 
Tilted

Tilted

..
sunflower said:
Good Luck getting financed
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The availability of auto financing has improved in the last month due to the direct injection of TARP funds into the financing entities. To be sure, its not like it was a year or two ago when anyone could get financing, but the credit standards have been lowered recently.
 
DEEKAYPEE8569

DEEKAYPEE8569

Well-Known Member
Cowgirl said:
:confused: If you don't have the money for a car, don't buy one. Even if it's a good deal, you still don't have the money. Wait until you're more financially stable and then buy one.

Besides, why in the world would you buy a new car? They depreciate like crazy the moment you drive off the lot.
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Common sense prevails again! You're right Cowgirl. As far as the depreciation goes, that's just part of the process that no one can avoid.
 
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Cowgirl

Cowgirl

Well-Known Member
DEEKAYPEE8569 said:
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Common sense prevails again! Your right Cowgirl. As far as the depreciation goes, that's just part of the process that no one can avoid.
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I would suggest that you start saving money now and then buy a used car and pay in cash. I've been car payment free for about 2 years now, and it is sooo nice. I plan on driving my car until it is beyond repair. :lol:
 
Tilted

Tilted

..
Cowgirl said:
:confused: If you don't have the money for a car, don't buy one. Even if it's a good deal, you still don't have the money. Wait until you're more financially stable and then buy one.

Besides, why in the world would you buy a new car? They depreciate like crazy the moment you drive off the lot.
Click to expand...

:yeahthat: I've never understood financing new cars. I understand that people need to have vehicles and often don't have the money to pay for them outright, but I would think in that situation that they would buy something less expensive. If you don't have enough money to buy a reasonably reliable vehicle, then maybe you have to finance one - but it doesn't need to be a new one, or an expensive one. This notion that Americans have bought into, whereby it is standard practice to finance new vehicles, is significantly detrimental to their general fiscal health.

For my part, I just can't justify putting out $40,000 for a vehicle unless I've got at least a million dollars in spare capital. It's a tool, not an inherent source of pleasure. I'd much rather spend money on things that will give me pleasure and fulfillment, than to waste it buying a more expensive tool than I need. Of course, some people for one reason or another have an actual need for a more expensive vehicle.

All that having been said, to each his own, and people should do whatever it is that makes them happy - even if I don't understand it. :lol:
 
DEEKAYPEE8569

DEEKAYPEE8569

Well-Known Member
Cowgirl said:
I would suggest that you start saving money now and then buy a used car and pay in cash.

Easy to say.....

I've been car payment free for about 2 years now, and it is sooo nice. I plan on driving my car until it is beyond repair. :lol:
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I plan to do the same. I've got a '97 Chrysler with a hundred-something-thousand miles on it that was "a gimme" and as long as I keep tires on it;the oil changed and gas in the tank it runs like a dog. It just must be a guy thing; seeing all the new cars that are out now and wanting one. I'll get over it.
 
AK-74me

AK-74me

"Typical White Person"
jetmonkey said:
Lots of luck getting that 12% return on your mutual fund, lols.
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Well they are using traditional avgs. So are you selling now and expect stock market indexes to go much lower than current levels?

Lots of values right now, 12% return would be pretty easy for a value seaking investor at this time.
 
J

jsouthan

New Member
DEEKAYPEE8569 said:
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Common sense prevails again! Your right Cowgirl. As far as the depreciation goes, that's just part of the process that no one can avoid.
Click to expand...

You can avoid the biggest hit by buying a car that is only a year or two old. Our last 2 cars have been Honda's that are only a couple of years old w/ about 20K miles (nothing for a Honda) and factory warranty still on them. We paid at least $10K less than a brand new one and it still looks and runs brand new. It doesn't make financial sense to pay that much more for a car with just a few less miles on it.
 
aps45819

aps45819

24/7 Single Dad
DEEKAYPEE8569 said:
That's true. But then, there's the 'can't spend what you don't have a whole lot of in the first place' issue. That's mostly what my problem is. Da**it.....

Funny thing though. I found a car at a VA dealership; just over the bridge; a couple months ago, so I went to my Credit Union, applied for and got the loan and had the check in my hand but for lack of a ride to the dealership; because I didn't trade in my car; I returned the 30-sum-thousand dollar check to the bank with interest and forgot about the whole thing.

Now I'm wondering if I ****'d up.
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I'll bet the salseman would have come and picked you up for a nice fat comission. Did you call and ask?
 
C

czygvtwkr

Guest
jsouthan said:
You can avoid the biggest hit by buying a car that is only a year or two old. Our last 2 cars have been Honda's that are only a couple of years old w/ about 20K miles (nothing for a Honda) and factory warranty still on them. We paid at least $10K less than a brand new one and it still looks and runs brand new. It doesn't make financial sense to pay that much more for a car with just a few less miles on it.
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Where do you go car shopping. The last few used Honda/Toyotas I've looked at were only a couple thousand below what a new one was.

The big advantage of buying a new car is lower interest rates (usually) and you don't have to worry what the previous owner may have or have not done to it.
 
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