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Everything posted by oldblue

  1. Used car prices might be up but can still get a nice reliable used car for 3 - 5k, keep the other 5 - 7k for an emergency fund. It'll help you on the journey of repairing your credit and financial situation. Instead of digging you deeper with another high interest loan robbing you of your income and potential savings.
  2. You'd be much better off fixing what you have 110k miles is nothing for a modern car. The interest rate you're going to get on a newer car is going to cost you you about 15k over the life of the loan on a 20k car, even if your current car needs a transmission on top of tires and brakes the repair will be way cheaper than 35k down the drain. Best to wait and see what the mechanic says good chance its not the trans. What year kind of car is it?
  3. Even worse didn't realize social security tax stops at 137k in income so only save 35% percent of the 40k so the vehicle would still cost you roughly 35k over 3 years.
  4. Tax deductions dont work like that. The money is still coming out of your income. The only money you'd be saving is taxes on the deductible portion. In the 32% bracket with 15% SE tax you'd get roughly 20k in tax savings. So it'd still cost you about 30k to lease the vehicle for 3 years.
  5. I missed that one and couldn't find it in your recent history. Have to be a decent downpayment with no other debt to get past DTI. My buddy put himself on the brink with 200k house on 60k but no downpayment and another loan. I'm going to stick with my mortgage the size of cheap car payment, no other debt and keep socking money away while the rest complain lifes too hard.
  6. For one I wasn't even talking high dollar vehicles this all started with a 40k vehicle and you were the only one to bring up anything more expensive but you seem to have that attitude of someone that owns fancy cars to get attention since you keep talking about em and how much they're worth. I do hear the same things from people with expensive cars as I do basic cars though, OMG do you take credit cards I don't know how I'm going to afford $400 to fix the furnace. Seems people just raise their expectations to their income. I'm just going by statistics and what I hear from friends t
  7. I know I'm the minority, by others you mean almost everyone, people think they have to have new cars and will blow their budgets, get 84 month loans, roll negative equity, etc, to get them. Your right to each their own though, if they didn't there wouldn't be cheap used cars for me.
  8. Ha that things hideous, guess its just the paint job but meh I'd rather have a cheap house on some acreage than that thing with a better paint job.
  9. Who needs a warranty your saving $1160/month. I picked up an 08 accord at auction for 2k. Turns out it needed a clutch and its easier to pull the motor and trans together, then break it apart in the driveway than try to to do it in place. Nothing I ain't done before but I'm finally at a point where I'm so busy and make more doing what I do, I let the pros handle my vehicle repair for the first time in my life. $1500 down the drain but I'm only at $3500 total instead of the $11600 I'd be at with 26 more payments to go on a vehicle thats going to be worth a couple grand to someone like me soon e
  10. If a $1160 was 2% of my monthly gross I'd just a write a check for the car period, don't make near that much but could still write a check for a 40k car and $1160/month for a car is still insane to me.
  11. While I agree an 84 month loan is ridiculous, $1160/month is an insane amount of money to spend on a car every month. 3 months of that will buy you a car in cash that'll last for years.
  12. If you're self-employed and taking deductions for business expenses lowers your income too much you are just not making good money. You can only deduct legitimate business expenses, business expenses are not income, hence its just low income. So either you are not as good at business as you think you are and should re-think being self-employed or you should stop cheating on your taxes. Might be harsh but as someone whos self employed it drives me crazy hearing this I've deducted my self into low income bs all the time.
  13. I'm curious what your thoughts are on this article. https://www.lynalden.com/global-dollar-short-squeeze/
  14. Buddy that normally makes comments like you got money why don't you buy a nice new truck or a nice house with some land. Said hes going to have to start giving handies for $20 if work doesn't pick up. Hes an essential service but they're slow because of demand so his hours are cut drastically.
  15. Even with the low actual value seems like a paid for equinox with a back up car if it breaks is way better than an overpriced loan at a ridiculous interest that you may or may not refi for a better rate. You can only write that off if you itemize though right? With the new tax code not many people itemize anymore unless they make a lot of money.
  16. Why on earth would you let yourself get bent over like that on trade-in/interest rate? You had a perfectly good paid off car.
  17. Nope If I remember right they ask for paper work around 25k. I know I was disappointed at first with only 3k limit but the 3x CLI at 60 days or whatever it is worked like a charm but on the second cli I went under 27k so as not get that form request.
  18. Business debt for a sole proprietor is still hidden from personal unless you default. Does depend on the card though, my capital one spark reports to personal and business but my amex and chase business cards do not report to personal.
  19. See what I mean about exaggerating, your so out of touch with reality you have to make comparisons to cartoon shows. One of these days you should leave your high up place in that mansion with all your hoity toity acquaintances, in whatever fancy car it is that took it to score your trophy wife and see how blue collar folks live. Believe it or not there are these modest neighborhoods outside the slums were people take care of their house and lawn. They drive nice slightly older cars that aren't falling apart, dented or all scratched up. Of course you get the mix some have new cars
  20. Why would I need 8 tanks of gas a month if I don't have to drive to work? Considering my employer(me) only pays for gas when I'm on the job. I have a 2 bed house in a decent(people like you would call it a bad neighborhood but I've lived here 6 years and its just fine) neighborhood, I don't need money to entertain myself. An 08 isn't a clunker, it is funny your wife married you for your ability to spend, explains why you're miserable, if I married a gold digger I would be too. Interestingly enough when you're not fat like most Americans its not expensive to eat healthy
  21. 1 The $1800 08 honda accord I got at auction is just fine. 2 $150 taxes 3 $500 insurance 4 $250 food 5 $250 utilities 6 $50 gas, company truck takes me to and from jobs. 7 $200 entertainment/eating out 8 $200 Misc. don't need $100 in clothes a month but there is other random stuff I buy/have to pay for. 9 $150 You left out the principal/interest part of the mortgage $1750/month No purina or double wide in there but nothing wrong with a double wide any way and purina would never be necessary when milk, eggs, beans, rice, pasta and potatoes ar
  22. Yeah property tax sucks its as much as the principal and interest portion of my mortgage. Kind of what keeps me from paying my house off since it won't make much of a difference with still having to pay HO insurance too. Health insurance is what I hate paying the most at over $300/month. Especially since I'm healthy and young I never use it. If I drop it though I'd probably break my leg the next day and have to have surgery on it or something and be out 50k.
  23. Thats pretty much me if I decided to spend my money I wouldn't know what to spend it on. I don't need the fancy clothes, house, cars, jewelry or whatever else it is that people spend money on. I got a modest house thats practically paid for, a car that is, a big screen tv, a nice computer, more than enough guns and a lot of tools. I eat good which is the one thing I splurge on eating out generally once a day and have health insurance. I couldn't tell you what else I need. I'll probably buy a quad and some exercise equipment at some point. I can't really blame the guy I know I don'
  24. Interesting I make 50k save half my salary and live just fine in a large metropolitan area in the midwest.
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