Thread 28625117

>Le buy car good
>leasing, financing le bad guy!
>pay cash on your car and lose money immediately

Why is this guy always telling people to fuck themselves up when getting a car?

>>28625117 (OP)
Because he's an idiot boomer who still thinks it's 1991. Literally.
Like, his advice is fine if you already have a career and they have a nice 401k match, and yes you should have iras, but like his zero risk zero debt rhetoric is straight from 40 years ago when that approach could make you a millionaire, but it just isn't the case for anyone who isnt a boomer.

When you own a car for 5 years you put 30k in and get 10k out
When you lease a car for 5 years you put 40k in and get $0 out

>>28625117 (OP)
Because people literally can not be trusted to buy a car they can afford any other way from a financial advice perspective

With a car it's not really the same, since you're not leveraging anything with it, but the money spent to own it is better put elsewhere, like in leveraged debt or collateral, as long as it's outperforming the interest on the loan. He's just a low brow dude giving low brow advice to people who literally cannot help themselves.

>>28625117 (OP)
1. People are more likely to talk themselves into terrible purchases AND loans when they stop thinking in terms of cash price.
2. 95 percent of the people he talks to are too dumb to realize that a $100/month car note is bad if they're buying an Altima with frame damage and paying that note for 50 years.
3. If you have a running car and can't afford to buy the one you're looking at in cash/liquid assets, then it's out of your budget anyway.
4. People who listen to him are poor. You are poor. Rich people don't need to follow his advice. You are not rich.

this fag would see that i had a perfectly functional car and kept sinking several thousands into it just to make it faster and throw a shit-fit, fuck this guy and fuck you for being so proud of your 2005 civic.

>>28625122
>but like his zero risk zero debt rhetoric is straight from 40 years ago when that approach could make you a millionaire
Its still good advice because the average retard simply cannot manage debt well to leverage like you're thinking of. Ever listen to the highlight clips? People calling in with 100k in student loans and 90k in credit card debt and they just lost their job and their husband died with their 4th kid on the way sorta dumbassery.

>le boomers bad
Go watch an episode of Caleb Hammer. His episodes are all nearly identical: some retard spends like 5x their yearly income for a decade and asks for help to get out of debt while admitting they have first class tickets to didneyworl and they just got some $50k car and have a crippling OF addiction. The number of absolute morons out there basically setting cash on fire is in the tens of millions.

You or I can go out and get a 4-5 year loan on a new car and reasonable afford it because we think beyond next week for money and life. Most people don't do that.

Car loans are shit. APR and prices are absurdly high, then you have morons who go to buy here pay here scams where they pay 900/mo for 86 mo for a 96 Toyota with 230k miles.

That said a lot of new cars are designed to grenade in short order (the fuck was ford thinking with timing belts in oil). I know the adhesives they use on new cars have a life span of 7 years, as do much of the little plastic bits of trim.

>>28625117 (OP)
His money comes from people who buy his course, not actually following his advice, just like all buy muh course influencers

>pay cash on your car and lose money immediately
Buy a used car like he says and this won't happen

His advice is good for people who are shit with money. If you know that debt can be used to make money, don't use his advice.

Having a car loan is the number one poorfag indicator

The only things you should be borrowing money (at interest) to purchase are assets/investments that will appreciate in value over time.
Sinking money into a flash new car is goy tier retardation.

>>28625125
Misleading post. Most leases are 3 years.
You can get a 3 year lease on a car with maybe 3-4k down, and 300-400 per month for 36 months. That's maybe 15,000-20,000 total, and you're not paying for maintenance.

>>28625117 (OP)
Ramsey gives advice intended for people who are too stupid to be trusted with lending of any sort. People who cannot be taught, because they are retarded. When you look at his advice through that lens, it is helpful and prevents people from getting themselves into serious trouble

>>28625117 (OP)
>500 dollars a month payment means 6k per year
>6k per year equates to 30k in 5 years
>you could buy a new car up front for 30k
>10k miles per year
>lasts 200k, 300k miles EZ, so 20-30 years
how is this a bad thing? you could buy 4-6 cars on a 500 dollars a month lease in the time you could buy one and run it for 20-30 years.
IMO buy a 10k car with 100k miles, lasts 10 years. cheap, reliable, in the mean time you stack money by not paying the lease jew every month.

Every richfag I know leases or finances cars so they get their cars for free.
Paying cash is the dumbest thing.

>>28626510
>so they get their cars for free.
They sure are dumb!

>>28625117 (OP)
Dave Ramsey's advice is for literal retards who don't know finance 101. For example, morons who think making $4k a month means they can afford a $1k monthly payment, but then have no idea where all their money is going every month.

>>28626456
This is how everyone knows you're a nocar faggot or just a poorfag who cannot even afford a new car.

Leasing is intended to push people beyond the 36 month mark so they can screw themselves up but since the contract is so easy to understand unlike financing, most people get the 36 month or even less so you enjoy a brand new car with no maintenance cost, no repair cost, no bullshit and all that since the dealer has to deal with that BS and you care only about insurance and fuel.

When you buy a car, it doesn't matter if it is a used car or brand new, it is a depreciating asset and the rule of thumb to build wealth is to invest in appreciating assets yopu dingus. You lose money on a brand new car and unless you have fuck you money, leasing makes sense on all accounts.

This board is beyond salvation.

not even worth a you

Poofag spotted, enjoy driving your 3k rustbox

>>28625138
>some retard spends like 5x their yearly income for a decade and asks for help to get out of debt

Yeah and these people just talk to a debt consolidator/ declare bankruptcy and get away with it every time. The system is made for them to burn the value of your money away with infinite loans.

I saved my money like an idiot for over a decade with the buy cash/ don't trust the market mindset, it had to correct eventually right??. I would be a millionaire now if didn't follow the boomer mentality I got from my parents and invested my cash.

>>28625117 (OP)
Solid advice for normies.
Buy a used Toyota cash instead of paying interest and commission to fans who want to skin poors for everything they have

>>28626707
Don't forget the tax, on a lease you only pay tax on the value of the lease. On a purchase you pay tax on the full value and if you have any regrets about the car you're immediately fucked because as soon as the title is registered to you it's used and you eat thousands in depreciation + the difference in tax value.

>>28626991
a used toyota is more expensive than a new toyota these days boomer

>>28625117 (OP)
The way to beat banks is not be a consumerist faggot. I own my my car and get to do whatever mods I want.

>>28626390
You can get a perfectly sound car for 10-20k that isn't going to lose much in depreciation.

ATTENTION ALL DEBTARDS. YOU DO NOT OWN YOUR CAR. YOU CANNOT MODIFY YOUR CAR WITHOUT MR SHECKELBERGSTINE TAKING IT FROM YOU. YOU ARE BENEATH A BUSS RIDER. YOU DO NOT BELONG ON THIS BOARD

>>28627518
Dammit, am I on the /$2000 shitboxes only/ forum again?

>>28627060
>I own a depreciating asset that keeps going down in value but at least I can waste money on such depreciating asset! Hehexd

No wonder you're posting here.

>>28627943
>No wonder you're posting here.
So you don't own a car?

>>28627950
Bicycles hold their value better. So do train and bus passes.

>>28627046
a 2012 camry is 3000 dollars and will do at least 50K. You are retarded.

>>28627955
>buy bicycle for $200
>someone steals it
>have to buy new one again
Bicycles and bus passes aren't assets.

>>28627950
I own 3 in fact and one of those is a lease, 2 houses, a condo and a business. Meanwhile you're here displaying how poor you are lmao.

>>28627973
So you own 2 depreciating assets and rent a third? Wow, you sure showed us poors. Can't wait to hear how at least one of them is a tax writeoff and is basically free money.

>>28627966
>bicycles aren't assets
You've clearly never seen the price of real bikes beyond children's toys from Walmart lmao

>>28627977
Honestly, bike prices are totally ridiculous. You can buy good electric bikes for under $1k and nice supermotos for less than $3k, so why do bikefags and manufacturers refuse to sell quality bikes for less than $3k?
I'd honestly rather buy a $10 bolt cutter and take my chances than willingly scam myself into a bike purchase

>>28625117 (OP)
Stop thinking of cars like they are investments. It doesn’t matter if it loses value after you buy it if you own it for its life time

>>28627977
>UHM ACKSHUALLY
No I'm fully aware of the $20,000 bicicyles and $10,000 e-bikes. They're still not assets. They also depreciate faster than a high-luxury car, so you're double dumb and a liar.

>>28627976
Since you're seething so much I take that you really are poor as fuck. If you knew how businesses work you would know that you can write off leases and other expenses but since you serve coffee at Starbucks you wouldn't know about it either.

Stay mad trailer park trash.

Why do you fags care so much about how people are spending their money? I'm sure all the jeets and chinks here will appreciate your advice.

>>28628362
because you losers end up in debt and defaulting raising prices for everyone. You end up on welfare. You end up in poverty when retired and everyone has to pay more. That's why we care.

>>28628379
lol

>>28627993
because morons like you refuse to buy anything else than $300 shitters from convenience stores
there's plenty of quality bikes at $1200 that will be as fast as the $5k bike when you're riding it

>>28625117 (OP)
Because car registration reflects on the price of the vehicle sold. Private parties are not obligated to put down the negotiated price of the vehicle on the title for registration. Otherwise a $20,000 car alone is close to $400 a year and can't be appealed as it depreciates. That is why new cars are depreciating assets for the first owner.

>>28628429
>there's plenty of quality bikes at $1200
Why wouldn't you save up just a few hundred more dollars and buy a car that has a windshield, a roof, and 4 wheels?

>>28627973
>I own
You don't own any of that. Some jew at a bank does and it's why they have the titles for all those things and you don't.

>>28628362
If retards didn't slave away for jews playing rent to own buying a car for 7 years or buying a house for 30 years while paying 100k in intrest then we wouldn't be in this mess. If we banned usury and sent all jews into the sun then we would have realistic asset prices like our forefathers once had. Debtslaves are the lowest form of life.

>>28625117 (OP)
>Why is this guy always telling people to fuck themselves up when getting a car?
He's telling people not to fuck themselves in the face by buying too much car, OP, there's a big difference, yes richfags to lease expensive luxury cars or buy them, they're fucking rich, but if you're a middling wagie, you cannot afford this shit, that's the message

>>28625117 (OP)
>strawman, the post

>>28625122
>>28625127


his advice is still applicable to the same proportion of the population as 1991; thats basically anyone who earns income from regular employment, and not from investment returns. and this >>28625126

>>28625136
>this fag would see that i had a perfectly functional car and kept sinking several thousands into it just to make it faster and throw a shit-fit, fuck this guy and fuck you for being so proud of your 2005 civic.

yeah, you proved you don't listen to his stuff. He's a car guy and doesn't give a shit about you enjoying your shitbox as a pursuit.

>>28626596
He's like AA for financial advice, mostly aimed at people who are atrocious with money.

>>28625117 (OP)
I think the money guys system of never more than 3 years and payments shouldn't exceed 8% your gross income is reasonable.

Dave is talking from a point of detachment. Not that long ago you could get a shitty but mechanically solid car for 1k, now, it's atleast 4k usually. Financing a car is bad but sometimes necessary. Leasing a car is OBJECTIVELY always terrible, as it's just renting a car but with credit risk. The only reason you should finance a car is if you can't afford to buy one cash for <10k, which Dave can't understand now. Objectively, financing a car so you can get to work is better than not being able to get to work, or having to spend $50 a day on Ubers. If you live in an area with good public transit I'd agree with Dave, but that's not most of America. Unfortunately I did what he said and basically bum rushed debt repayment with only the $1000 minimum emergency fund, then got hit and cracked my frame, and with the condition it's in outside of that area, it'd cost more to repair it than to get a new car, so now I'm going in (short term and reasonable amount)debt because I still need to get to work

>>28626297
You're right if someone is in car debt to have something fancy, if someone is financing a 15 year old Corolla to have reliable transportation to work, that's not really the same.

>>28630523
Financing cheaper cars is even scarier because the interest is usually really high because normal banks won't finance a 10 year or older car, so you're doing buy here buy here shit while also being in a position where you're too poor to throw down the little bit of money it costs for an old car let alone do maintenence, but when you buy whatever the fuck you can afford with crash, a $5000 car, a $50,000 car whatever, you're way ahead of the game.

>>28630962
>Financing cheaper cars is even scarier because the interest is usually really high
Yes its usually a few points higher because of higher risk and less money overall involved. 12% of a $20k car still isn't as much profit as a 6% on an $80k car.
>because normal banks won't finance a 10 year or older car
They do every day.
>so you're doing buy here buy here shit while also being in a position where you're too poor to throw down the little bit of money
BHPH lots are for societies dumbest retards. Normal people, even people who admitted errors in the past don't go there because they know its a scam.

Have you ever bought a car, anon? How about financing one? Do you understand math?

>>28630962
i mean no shit buying a used car cash is better, but if someone buys a 8k car and finances for 2 years, theyre in better shape than if they finance a new one for 7 years. your car in this situation should be seen as a tool that allows you to make money. if your monthly car payment and insurance combined is more than a weeks pay, its no longer justified.

>>28631223
I'd rather ride the bus to work then make payments on the car, the nice thing about getting to a point in your life where you can spend $8,000 on a car easily is that any repairs that come your way aren't a problem, the car could do something stupid like need tires, brakes, whatever fucks up because it's an older car, and you don't even think about it, you just swipe, you're a baller who can afford an $8,000 car, the guys who aren't at a point in their life to spend $8,000 measly dollars and go buy the car anyway with interest and all that nonsense are gonna be crying when it needs anything, because they can't even afford the car to begin with.

Reminder that Ramsey was gifted millions in property from his dad, squandered it, became a destitute drug addict, and makes his money telling retards like you to drive a 30 year old car and never open a credit card all while owning 30+ rental properties.

>>28631233
If good public transit is an option for you absolutely, but if somebody works an offshift, or is outside of a major city, they may have limited or no options for public transit. "just take the bus" is basically not an option for a good portion of America.

>>28625117 (OP)
>pay cash on your car and lose money immediately
do you think financing a car causes it to depreciate less?

>>28626707
You’re still paying the depreciation on a lease. That’s the whole point, the dealer gets a good condition used car out of it. Leasing only makes sense if you’re dead set on getting a new car every 2-3 years which is already retarded financially.

>>28631337
Generally you just lease if you want to turn your car every 2.5 to 3 years. I lease because I don’t have to give a shit about maintenance etc and just keep swapping my car. The payment is a fraction of my income and I’m fine with that.

>>28629160
Because I already have a proper car you hobo

>>28631341
So did you or did you not eat breakfast?

>>28631344
You got the meme wrong, smoothie
you're the one who can't wrap his mind around other people living in other situations

if you EVER take financial advice from a boomer you are going to regret it. the economy has crashed multiple times in their lifetime alone, because of them.

>>28631352
Yeah, better listen to Gen Xers who are about to make Black Monday look like a prank

>>28631350
So your living situation is owning a car and a $2000 bicycle. Alright, I know how you vote.

>>28631375
>seething because someone has the incredible amount of money to afford a car AND a bicycle
don't worry, some day you'll be able to afford to rent your own flat in the ghetto

>>28631385
>your own flat in the
found the eurocuck paying 50% taxes trying to brag

>>28631404
yet, I am the one with a new car and bike while you are genuinely weighing the differences between a nice bike and a run down shitbox to make a decision

>>28625117 (OP)
>pay cash on your car and lose money immediately

whether you pay cash or not your car will always lose money, at least you're not hooked with paying extra money through a shilling financing. You mutt.

>>28631407
I also have a new car and a motorcycle, your $2000 fagbike flex isn't what you think it is. Its a worthless toy.

>>28631419
too late to walk back your comment about spending a little more to have a windshield and 4 wheels, poorfag

>>28631423
Because bicycles are for fags, fag.

Anyone calling anyone else poor should have to post a paystub or W2

>>28631425
some day you'll overcome your financial issues mr. $2k is a lot of money

>>28631430
$2k is a lot of money for a childrens toy, you idiot.

>>28631455
Is that how you cope with not being able to own nice things?

>>28631464
I do own nice things, is this how you cope being a fag?

>>28631476
read >>28631423

>>28631481
You made the allegation that bicycles were a reasonable form of primary transportation and that $200 walmart specials weren't what you were talking about but some faggy $2000 bike. I then pointed out $2000 childrens toys as transportation is retarded and that you should spend a few hundred more for a vehicle with a roof, windshield, heat, seats that aren't gay sex toys, and 4 wheels. Now you're trying to flex on this specialized screw thread engineering forum about how wealthy you are for owning a childrens toy while I call you a gay retard.

Are we all caught up now?

>>28631490
Not only poor
Also can't read
Nobody said anything about mode of transportation, retard

>>28631494
European education, everyone.

>>28631498
Your financial situation is entirely caused by your lack of reading comprehension

>>28631502
My financial situation of what?