For a long time I thought >Getting a loan for a depreciating asset ( a car ) is a stupid idea! >buy it outright or it's a waste of money.
so naturally, I got a $1k shitbox to drive here and there where I needed.
now the problem is, that shitbox is fucking up majorly, 4 different mechanics have scratched their head and have no idea what the problem is, and my best solution so far seems to just try replacing random bits that could be causing the issue and hope that I hit it.
>I have already sunk $500 in the last 2 weeks trying to fix this issue. with still no solution, and still mechanics scratching their head. that's $500 gone up in smoke, and that number will rise, until the issue is solved, if it ever will be.
Now I'm wondering where's the middle ground between getting a good car outright or getting a shitcar moneypit?
should I get a cheap car new ( or newly secondhand) ? I don't have the cash on me but I could finance it. as long as I maintain it properly it should last a fair while longer and keep a portion of it's resell value. would that be a smarter idea than buying a shitbox again and potentially reaching the same drama?
something like $15k for a "like new" ex dealer car, 2016 toyota yaris. - if i can finance that over a couple of years, it should keep me going, and by the end of it, I would have a decent car that I could even sell for atleast $5k once I'm done with it ( upgrade, better job, moving state,etc)
help me Veeky Forums - how do I find out what's worth it. is financing a deprecating asset not as bad as it sounds ?
>go to craigslist find a car, buy it. >many post are made by back alley "dealers" >they buy and resell cars >make sure you know what you want, be upfront about not having mechanical problems >pay like 3-5k for a decent shitbox that'll last a few years.
Joshua Roberts
Just buy a better shitbox
Samuel Collins
curbstoners aren't going to tell anyone if there are any mechanical problems
pay the $100 to have an actual mechanic inspect the car you're interested in BEFORE you buy it
Noah Campbell
considering my current car has had 4 mechanics shrug their shoulders at it I'm a little less eager to get mechanics to judge a shitbox before I buy it.
it's a sound idea and desu is probably what I'm going to end up doing but I'm wanting to look another way.
Carson Richardson
>is financing a deprecating asset not as bad as it sounds ? From a financial perspective, cars suck. There's just no way around it.
On the other hand, life is short and frugality has its limits. I'd rather spend more to get a reliable car that I like, that deal with the frustration and risk of buying a lemon. Does that eat into my savings? Yes. Is it worth it for the lower stress and frustration, and the higher enjoyment? I think so.
Ian Diaz
What type of car is it and whats it doing?
Aiden Wright
yeah dude.
seriously having my current car has seriously bummed me out about "cost effectiveness" - there is simply no way around it.
I think for the time being I can actually get by without a car; I live close to the city, work is not too far away, and public transport is ok.
but having the ability to go a further distance; to help out a mate or seek more employment opportunities, are drastically simpler having a car.
If I think about something like pic related.
and I have it for 3 years, which would be 5k a year. - finish my studies, get some headwind in a proper job.
but then I can sell it in the future and get part of my money back. (say 10k) I get the utility of the car and it should be pretty reliable as long as I keep up with servicing. net cost is 5k.
if I get a shitbox, say 5k. ( high end shitbox imo ) resell value could be useless, I won't get 5k back. plus if it's a ticking time bomb to have some major fuckup, then it'll become a money pit. like my current car. net loss could potentially be 3-4k. potentially? I just don't know.
someone help me sort this out
Jacob Gray
Here's what I did: >start a business >grow business to the point where it employs several people including yourself and still has $40k/year left over >buy business vehicle >depreciate vehicle in one year >next year buy new vehicle >repeat as needed
always drive a new car, never technically pay for it. In good years have 4 or 5 new cars to choose from. Or lease cars and write them off for business use. Or buy Ferraris and call them fleet vehicles. Whatever.
barring that just do what said
Brody Harris
diy thread:
Cooper Walker
>OP wants advice about buying a better shitbox >user recommends starting and growing a business Veeky Forums ladies and gentlemen
Hunter Walker
That car was destined to be a piece of shit when it came off the assembly line, those early hyundais gave them their shitty reputation
It's not an old wives tale, get a used camry or civic
Elijah Thomas
I just bought an above average (700$) bike to get around durring the warmer months here in Canada. Comes with a lifetime warranty and the shop I bought it from does a heavily discounted once over on it every spring.
Durring the winter I just walk or take the bus, I live in a really convenient part of the city and everything I need, including my job, is about a 15 minute bus ride away.
I've been putting off buying a new car for so long after my junker died years ago that now I really don't think I could justify paying for the insurance seeing as I would probably only really need to use it once a week or so.
John Baker
free new cars. can't beat it.
Lincoln Sanchez
>free new cars. Only if they're worth less than $11,160. Not exactly "new car" territory.
Or are you LARPing and didn't know Section 179 imposes limitations on the deduction for passenger vehicles?
Samuel Gonzalez
>passenger vehicles? >SUV or truck ftfy
>FULL PURCHASE PRICE MAY BE DEDUCTED
gas mileage could be a problem for poor people but then poor people aren't deducting a truck a year.
Tyler Bell
I've never personally pushed the limit but apparently it's 1/2 million dollars a year in deducted trucks....
The most I've ever depreciated in a single year was $95k in fleet vehicles. It was a good year.
David Sanchez
>FULL PURCHASE PRICE MAY BE DEDUCTED *sigh*
LARPing, just as I thought. The IRS closed that loophole YEARS ago. The first year limit for SUV/trucks is $25,000.
>YEARS ago not that many, I remember the last time I took it.
but even at $25k/year that's a new truck every three years easily. Assuming OP waits for it to depreciate before selling which isn't a requirement.
You're going to take a hit on the trade in either way.
Michael Adams
>You're going to take a hit on the trade in either way. or to put it into perspective- You'll owe taxes on the amount you over-depreciated but that amount will be offset by the fact that your new truck won't depreciate $25k in the first year....
so you can keep right on buying a new qualifying vehicle and writing it off every year.
probably several new vehicles at that rate.
Luis Parker
Why on earth would you start repairing a car that costs 1000 usd? You are just going to pile repair cost sooner or later. Just buy a new one
Oliver Green
*sigh*
Do you really think this is helpful advice for OP? The guy just wants advice about buying a shitbox car and all you post about is starting a business and buying a fleet of SUVs? A business, by the way that would have to generate at least $250K in profit, for at least three consecutive years, to avoid an automatic audit and IRS raping if you try to depreciate a vehicle purchase.
Did it ever occur to you that if OP had a business that generated a quarter of a million in cash annually he probably wouldn't be stressing out about whether to buy a $10K or a $2K car? Read the room, man.
You seem like one of those people who just like to post, whether its relevant or not, helpful or not, wrong or not. I guess I shouldn't be bothered by it, but its a shame that we can't have decent threads with good, on-topic advice from time to time.
Go ahead and post some more. We know that's why you're here....
Michael Nguyen
no, you're right.
I'm just trying to sow seeds. You're absolutely right that they won't grow.
carry on.
Adrian Hernandez
>A business, by the way that would have to generate at least $250K in profit, for at least three consecutive years, to avoid an automatic audit and IRS raping if you try to depreciate a vehicle purchase. that part made me smile.
you have no clue what triggers an audit, do you? I'm getting close, but only with years of experience.
vehicles aren't it. home office is a good second place. the real trigger is income, no matter what you deduct.
Luis Bell
>buy car for $1000 >drive it for 6 months and it breaks >junk it and buy another car for $1000 You are basically paying less than $200 a month for your car if it breaks every 6 months but you can realistically drive it for a year until it straight dies and never invest a penny into it.
Bentley Ward
Yeah, you're so smart. Keep on posting kid. Nevermind that vehicle deductions are in the top 5 categories that trigger an IRS audit.
Eight posts in the thread and you haven't been right about anything, nor made a useful or helpful on-topic comment yet. I think its time for the ol' Post ID filter. Buh-bye.
Andrew Smith
>that vehicle deductions are in the top 5 categories that trigger an IRS audit. let's see, that's behind income and home office deductions?
>implying over 70% of businesses aren't sole proprietorships
you make me laugh every time.
Julian Ortiz
>cost If your job is car dependant then buy two cars for redundancy. Call a cab to take you home and drive the second car. Remember to remove your license plate from the car. Being late once in a blue moon wont get you fired unless you are a shitbag.
Owen Adams
I recently took a loan out for a new car after dealing with a shit box for 9 years. The price of a car payment is well worth the comfort of knowing your car will start up every morning. Also being the only one to take care of the car you know it will have resale value down the road when you're ready to upgrade
Robert Taylor
You have a wife? Buy two shitboxes, one for you and one for her. Have two drivers in the house.
If you don't have a wife, get two cars anyway, that way when one shitbox shits itself the other is fine.
If you're gonna save money, you're gonna have to get your hands dirty and your nogging going, meaning you should scuttle over to Veeky Forums, grab some .pdfs, watch youtube mechanics and so on. This can save you serious $$$ in the long run. Have a car mechanic friend or get your dad to help you out to pick out a good shitbox, there's lots of little tips and tricks.
Buy used up to $3-4K. Anything sub $1.5K is most likely a liability if you're not car savvy. If you're a car god you can get a $500 turdcube and abuse it till catastrophic failure.
Benjamin Nelson
>If you don't have a wife, get two cars anyway >buy two cars for redundancy.
having 2 cars disqualifies OP from collecting welfare.
Angel Cox
why so sad? turn that frown upside down with some milo etherebeans!
Noah Collins
the only thing he hates worse than cryptoshillis is everyone else.
Mason Reyes
You can get a low mileage Kia Soul for less than $10k. They are a simple economic cars that will probably run forever.
Kevin Smith
Suburbcucks pay out the ass in transportation which negates the cheaper housing and also has a huge time cost. The best move is to find a cheap shitty apartment biking distance from your job.
I live in one of the most expensive cities in the US and still save $2k a month with a middling salary. I live small and I'm not scared of minorities.
Jaxson Gonzalez
>Buying a pre 2007 Hyundai >Expecting it to work
You got what you deserved senpai, if it's an early 2000s car for 5k or less, you gotta go with the Japanese
