Poorfag PSA on Cars

>Financing at 8+% APR
>Lease payment more than 1 week's net pay
>Car value more than 20% of your savings

If you're doing any of these, stop now. No woman wants a broke boi who's got pre-owned BMW and can't afford to drive to a restaurant.

obviously no one is going to respond to this, given everyone on this board works a min wage job to pay for shitty recaro reps and eBay coilovers for their RSX/FRS/whatever...

It's just that nobody here is in disagreement. Also, people here are fucking morons in other ways and continue to respond to /int/ shittery, etc.

Man, I don't know if you've dropped by some of the "lease v buy" threads, but we've got some young yards here headed for a lifetime of debt.

"Sup Veeky Forums I water plants at the local garden centre for $5/hr and live in my family shed. Should I get the new Focus RS or the Subaru STI?"

remember that you can negotiate onto an esc and GAP insurance. the average cost of GAP for a 1-4 year old car is 99, 4-6 year old car is 149 and anything older is 199. everything over that is markup. For ESC, it mostly has to do with the model of car, year and mileage. A bone stock base model 2015 civic will have an extended 5year/60k mile warranty for probably a cost of 800 through a major retailer, but a dealership will charge you 2000-2500 for it.

I can give you more specifics, but it has to do with the car. I used to work in a special finance office and you people get screwed hard.

leasing pretty much only makes sense if you are an old fuck who wants a new mercedes every three years, or it's a vehicle you use for work and you don't get dicked by a mileage limit.

that being said, you have no idea how often I saw cletus in alabama working at a 5 and dime gas station making 25k a year driving a brand new ram 1500 laramie with all the bells and whistles. you can't teach stupid.

See it everyday working for a dealer, it's awful but if you don't do for them they're going to the next door. Vancouver's home of the posers trying to fit in with the big/new money residents, gotta slave away at a job I hate for that new 320i xDrive!!!

I am thinking of doing car sales part time while I am in college, is it feasible to be a salesman at a larger dealership only a few days a week? I might possibly have the chance at new or used cars

>tfw just got a brand new car
>3.8% APR
>payments for 72 months
>$300/mo
Feels good man

Depends on the management of the dealer. Some do, where I work is very flexible for salespeople. Other places want you there like a 9-5 employee, just have to look and see if you can find one that will accommodate your lifestyle. How you make them do that is by showing them that you can close deals, if you're making them money they'll generally be pretty lenient with you

Jesus Christ yeah, all the BMW/Merc/Audi always have some shitty lease deal to get the povos in the door, and it's always on some trash car like the CLA250 or the 320xi.

"Lease an A4 for only $499 a month!"
>30 month lease with $7k down
>Tax and fees not included

Aren't you the trip fag who answered all my questions about the Honda CX500? Ended up buying a Suzuki Bandit 600S, but I still think about that sweet CX500 that got away.

On your 17k/yr welfare cheque?

yes sir.

good to know. I will keep that in mind. I don't know much about anything, but I know I am really good at buying and selling cars.

They don't care about cars, some do but most don't. In your interview tell them you like cars but you like money even more and that's what you're there for. They want to see drive and motivation to close, it can be done with limited time at the dealership but you'll be married to your phone for emails and such. You're expected to be constantly selling or generating leads

the 20% rule i'm not much a fan of because it applies to to paying in cash for a car which few people do, understandably, a well managed auto loan is fine

BUT, 15% of your monthly incoming going to your entire car hobby or car use, makes more sense.
if all your car(s) payment(s) gas, insurance, and average maintenance costs exceeds 15% of your post-tax monthly income, be careful or find a way to downsize
For example
>i earn roughly $3400 a month after taxes but before other expenses
>between my miata and 540i i spend like $500 total for insurance, maintenance, and gas on average.
>that's just below the $510 theoretical ceiling, and that makes sense because if i do some big expensive maintenance job on either car i can really feel it in my budget BUT it doesn't disrupt it hugely

if i instead had one car i pay like $300 a month on in payments and $120 in insurance but it was under warranty, that would work too

speaking of which, man i hope this is just a stuck valve and not a bent valve or dead piston rings

1.9% apr
net liquid worth? It's worth like 200% of it. But worth about 5% of my assets
Only costs about half a week's pay

WHat's insurance for two cars? Probably more than $120. Even my 27 y/o shitbox truck is 70 a month and I have a perfect record, 25+ years. Cars don't make much sense financially for the vast majority of people so I'm not hating.

If I needed a car tomorrow I'd buy a 2-3 y/o 8k Impreza

But how much did you put down, genius?

Man, these 72 month loans are scary. You might think it's nice because low payments, but over the lifetime of that loan, you're paying way more than the car is worth because of interest.

84 month loans also exist and yes people do routinely get them

Depends on the vehicle and the interest rate. It's not bad with a low rate and a vehicle that holds it's value. Something like a Tacoma where you can sell it at the end of the 72 months for a retarded memeish amount. If it's a cheap shitbox or a luxury car with high maintenance costs and depreciation then you might as well lease the thing.

>Even my 27 y/o shitbox truck is 70 a month and I have a perfect record, 25+ years
Where do you live? That sounds expensive compared to the rates I see in PA.

Git gud. My shitbox was half a week's pay to buy. Gross pay mind you.

Hyundai was doing 72mth loans at 0% a few years ago here in Canada if I recall.

>mfw 60m 0% because my credit is so great

>250 dollar shitbox
>it runs but the windows won't roll down

All the windows roll down but the in-trunk CD changer just died randomly in the cold weather.

>pic related

So, not sure of this is good, it seemed good, but I'm on a 60 month Loan for my Kia Soul.

3.95% APR, $200.76 a month. It was like, $12,995 new.

I think I did good. It's running strong and I only have 2 more years on payments, I plan on trading it in if the value is higher than what I owe.

Tell me how I did on my DD Shit box, Veeky Forums.

Great financially, terrible otherwise. Kia Souls are awful things. For 12k you could have had a lobotomy instead.

payment schedules over 48mo are pretty bad, the interest follows an increasing curve

>mfw 0% APR, 60mo, $410 a month

imagine paying 200 dollars a month on a fucking KIA SOUL. Its a shitbox you should have got a shitbox worth what it costs.

How was your busride this morning?

2000 with about 5000 in rebates and "dealer discount" money

It doesn't really matter if I can pay it off early, which I can. I just want to pay less to begin with. I won't be spending much money and I will be saving loads of cash by not paying for housing, food, utilities, etc. as I am military.

I take the subway dawg. But I also have a shitbox for weekends and general fun.

Nice. Nothing like abusing an old shitbox that can take it and keep going. What vehicle is it?

Pretty much the same on my fiesta.

The C230 Kompressor, like the one pictured further up in the thread. Cost me 2K canadian, and desu I think I overpayed... but it runs ok and is fun. I curbed the front right wheel pretty hard powersliding downhill last winter and it has a pretty bad shake at highway speeds, even though I replaced and rebalanced that rim, changed the outer tie rods and got an alignment done. At this point, I can't really see myself putting anymore money into it (except fluids), just gonna drive it until it explodes I guess. Been super reliable so far over two very cold winters.

So if you have 90k in savings, you cant buy anything better than a new fucking Nissan versa or any other 15k tier car?

Whew, even for bait this is a shitty advice thread

Why buy new? Seriously. You can get a cayman for that price.

tfw my good credit got me a 4% rate at a fucking buy here pay here

Wow, poorfags do NOT like being told they're wrong.

Look, if you have 90k in savings you're not ready to retire, so you're not done saving. So you shouldn't be piling your much-needed money into an Acura mom-mobile to impress your neighbours. 15k gets you a lot of car if you're not retarded. You can get a mid-2000s Ford Explorer for $5k. You can get a Lexus GS for $10k. Keep wasting your cash and look forward to spending your 70s manning the drive-thru window at McDonalds.

This. It drives me nuts when people don't understand this. I'm willing to wager most people who buy new cars don't even have 20k in savings and investments.

You're fucking retarded desu.

You're probably broke as fuck. And that's most likely because you have no idea at all how to manage your money.

I knew a guy who was leasing a new CRV and couldn't scrape together $5k to fund an investment account. I told him he didn't need a $500 car payment weighing him down every month, told me he needed it to "look good at work".

>told me he needed it to "look good at work".
>CRV
i doubt the other hairdressers care desu

>Where do you live?
Texas / Houston. Rates are ridiculous here. Progressive wanted $500/mo to insure my paid for 04 Cobra kek. Sold that shitheap as it was $180 to insure per month. I much prefer the poorfag 3k Civic life desu.

180 to insure riding on my 65y/o+ parent's policy, liability. sorry realized it was confusing to quote both and not explain the difference.

>Look, if you have 90k in savings you're not ready to retire,
The absolute state of this board.

Why are you even giving financial advice here?

>Having cash money over 20k in savings and not in investments or a roth IRA or 401k, or working toward a pension

Yes he can in fact purchase a very nice vehicle, and retire in 20 years with a nice fat pension giving him 40k to life off of yearly, along with roughly two million from a roth IRA, granted he works an average lower middle class job that offers pension and 70k or so a year.

A fucking mcdarbles worker is the person that puts all their money under their mattress like that.
I hope you're aware of what a MORON you are.

You could have had an e90 328is. Super reliable n52 engine and not fucking dead to drive in. I had the misfortune of driving in a 2016 model for 2 weeks when my car was in the shop for bodywork. Absolutely soulless piece of shit.

Ok brainlet, chill. Savings doesn't just mean a piggybank full of coins. It also includes liquid securities - bonds, equities, ETF/ETNs, PPNs, whatever.

I make 90k, own a house, have 250k in savings and investments. I drive a 09 Scion xB and Z31 as my project car and weekend driving thing. You sound like my dumbass coworkers that drive fresh off the dealer room cars but bitch about high car notes and being broke all the time.

>pension
WEW

i financed 20k for 5 years at 3.5% on my truck. payments and insurance are within my monthly budget. only maintenance so far has been two oil changes.

don't really know what i think about it (the truck, car payments, personal financing in general, etc). it's great when i need to move some appliances or go camping, useless otherwise. i could drive a half-functioning hyundai to work and back, i live 8 miles away. but there comes a point where purchasing things is as much about what you want as what you need. and i didn't curse myself with an HD diesel lariat whatever with a loan balance higher than my yearly salary.

and i'm not upside down on the note. this thread is bringing up a regular bit of existential dread. sometimes i just want to live in an empty room and not worry about any of this shit.

some things i have come to accept regarding my finances: 1) nobody is going to get rich by using 1 ply toilet paper and driving a used yaris alone. these are behaviors indicative of a broader mindset, but the acts themselves, isolated, mean very little in the long run. 2) i am not aiming to get rich anyways. 3) for this generation, there is no point of escape. there is no day and date of 'retirement' where you launch the escape pod and transition from working to not working. i personally find the thought of building my acorn stash up just so i can enjoy it when and as i am an old person very unappealing. not that i'm a hedonist living paycheck to paycheck, but we need to be reasonable here. 4) a much more meaningful existence is to find something worth doing, rather than doing anything and enduring it for the sake of an unpromised future

before the post-war funds, was the concept of 'retirement' even a thing? i feel like we are taking a blip in time, 1945-~1990 as the way things are meant to be. what if that was the anomaly and we are returning to reality?

Retirement before SS was just your kids and grandkids taking care of you until you died in your 70s

I feel you man. I think the best thing is to decouple yourself from the materialism hype. Buy a motorcycle for $1-2k, maintain and ride it. There, that's your Veeky Forums fun for a few years on a shoestring budget.

I feel truely sad for anyone who's going to fall for all this Lexus shilling and go finance a fat, shitty RC350 with that garbage V6 for $950/mth thinking they're going to quell their discontent or impress their neighbours. It's a bad game, the only winning move is not to play.

Yeah see I'm twenty nine and fully vested in my pension, they are still out there in places if your willing to commit to finding a job with a good company, or civil service. I also deposit about ten percent of my pay in an IRA though since I know inflation will hit that pension check hard in my 80's if I retire at 56.

Best thing you can do financially is work your way up in an organization that takes care of it's employees, instead of slashing and burning your seniority and experience by jumping ship every five or six years to a new system offering you 2 or three grand more.

This is half right - don't jump ship for $3k. However, your biggest salary jumps come when moving jobs for most people. Last jump took me up about 40% - sometimes it's worth it.

How about leveraging a job offer for more money at your current? I'm straight outta college making 50k but you can make 80+ in my current position. I figure I start looking for another job in 6 months and try to leverage an offer for more money here

How can I improve my credit?

Increase your credit pool, which means getting more credit cards.

Paying off your credit cards

No delinquent payments

Loan payoffs

So just borrow more and pay it back?
What are delinquent payments?

reddit

spacing

>Financing at 3.xx% APR
>Loan payment is under 10% of monthly net

Car value is much more than 20% of my savings though. If I had that much cash I would have paid for it in cash.