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Oct 23, 2024
5:31
:31
pm
KingDave
The Movie Guy
And once they’re paid off, begin saving for their replacements.
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KingDave
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KingDave
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Oct 12, 2009
Last login
Oct 23, 2024
Total posts
71,062 (21,401 FO)
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Messages
Author
Time
Looking for financial advice on car payments.
Geldir
5:24pm
Don’t make a bad decision worse. You’ll lose more value by trading in.
BigGulps
5:26pm
Yes. Think long term if you can afford it in the short term. Keep them 10+ years and you'll come out ahead.
kccougar
5:40pm
What cars did you buy?
blackandblue
5:27pm
Gotta be a tesla plaid or something right and then massive depreciation
GfB
5:30pm
Subaru Crosstrek, and Honda Odyssey
Geldir
5:35pm
So uhhhhh, what interest rate did you get because my very rough math says that you should have paid a total of around
scall
5:41pm
24 month term?
paulb
5:54pm
Must have rolled in negative equity from the last time they did this. You're
OKchief
6:44pm
That wasn’t what I was expecting…
blackandblue
6:47pm
Do you like the cars? If so, just pay them off and drive them for a long time.
byujacob
5:27pm
And once they’re paid off, begin saving for their replacements.
KingDave
5:31pm
And then sell them for used cars in the future.
ochobeeguy
5:37pm
You have car payments that average 1500 for a few more years? And you did shorter term loans? Did you just buy the
scall
5:29pm
a $1,500/mo payment at 6% over four years is a $65,000 car
El Paso Coug
5:51pm
Except for our first car - we always saved up, got used vehicles, and paid in cash. But I'm a boomer so what do I know..
Zenoch
5:32pm
Ok boomer
OKchief
6:45pm
Sell both and get 2 cars that don't cost you more than $1000/month. Now you have an extra $24K/year.
Niiineteeen84
5:33pm
And this ladies and gentlemen is why Dave Ramsey has made a fortune.
brazilcoug
5:34pm
He's great for people that don't have any financial literacy or restraint
volleyjiver
5:38pm
In other words, half the population
Cougar Junkie
5:40pm
I'd go with more than half...it's surprising that schools don't have any
volleyjiver
5:50pm
Here’s your sign…
IGlowInTheDark
5:56pm
Good news is cars are not depreciating as fast these days
Jericho
5:38pm
I am in the car business. Here are a couple ideas
md7Coug
5:43pm
Need more info to provide advice
El Paso Coug
5:47pm
Rates will likely go down over the next 1-2 years. Refinance to a bit lower
RH84025
5:51pm
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