I can absolutely shell out a good deal of cash for a used car.. but 4 or 5k is going to get me something with way too many miles on it.
I plan to pay off any loan within a year (I make pretty decent money). I should be able to get a loan where the interest doesn't kick in for a year, so if I pay it off before then I lose nothing to interest.
To be completely upfront, my original plan was to wait until I had enough to pay cash $30-$40k for something outright. I would have been able to do that by the end of the year.. problem is that my current car is done for so I can't wait that long now.
I plan to pay off any loan within a year (I make pretty decent money).
If you make decent money, why don't you have any savings? You should be able to buy a car for cash.
Because I just recently started making really good money, as of March. Oh, and since then I’ve gotten engaged (bought a ring) and paid for wedding shit. Hence why I said, by the end of the year I could have paid for a 30-40k vehicle straight up with cash.
throw 20k down and put 10k pay it off in 12 months. Fine, if you can do it, but if shtf and that interest shoots up to god knows where, you'll be fucked. then again someone would have to come and get it... lol
No one does variable interest rates anymore except for cc, maybe?
Yeah I thought that I’d get a fixed rate. In any case, I plan to pay if within a year like I said.
I so wanted to give you some tips but the truck market is crazy now where I'm at. Texas has seen a 26% increase in used car prices and my 2019 truck is worth almost 10k more (per dealer buy back estimates) than when I bought it new. I really have no idea what's happening and it kind of worries me, because I want an old low mile jeep or bronco that I'll be able to work on myself and the prices are almost the same compared to new vehicles.
Good luck on your search, mate
I’m in TX, too. I’m planning on a SUV, not a truck. The prices for brand new still seem to be a bit more than used from what I can tell. Or perhaps I’m missing something.
From what I read a few months ago, in SA, used went up 26% and new went up to 29%. I have visited 6 dealers and those numbers don't seem that accurate. It may be because I was looking for diesel and that wasn't reflected correctly in the current rankings.
Figure this one. My 2022 diesel truck was cheaper to buy new than a 2020 with 30k miles. Wtf?
I can't figure these things out as much as I've tried. Most new dealer lots are at 30% capacity by me and the blame is being placed on the chip market. We now have a new jewish company in New York that says it will be able to provide all the chips for domestic market in the coming years...
Why pay cash when you can finance it for 4% when inflation is 8%. Take that cash and put it in something that doesn't depreciate nearly as fast as a vehicle.
Uh because I need a fucking vehicle 🤷♂️
Some of you guys are talking to me like this is some optional thing whereby I’m just looking to invest money “somewhere”.
No, I need a fucking car.
Does everyone around here ride horses or a bicycle everywhere they go? WTF man?
That said, depreciation is one reason why I’m not looking to buy a new car, rather, a used one.
Right over your head, re-read.
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