Thread 28670790

I’m 30 years old and i’m worth $550k. But i’ve never bought a car and i’m scared shitless at the thought of buying one.

How do I get over this and bite the bullet. I don’t even want anything crazy just a top trim camry or accord but I have no clue dealing with the sales people. My cars have always been hand me downs from my parents/siblings.


Is this even a good time to buy, I heard car loans are rapidly going to default.

>tfw 32 years old and only worth 1.2 million USD

It's over, isn't it?

>>28670790 (OP)
>I’m worth 550k
>loans
Nice thread, retard.

>>28670795
?, I don’t want to have a car payment. I’m already running lean. I only take home $4k a month net. I’ve been piling it to investments. In fact i’ve never taken home more than $2k-2.2k my whole career.

>>28670790 (OP)
Do all your negotiating with the 'internet sales' team (ie, email with the dealer).
know what you can afford, know EXACTLY what car you want on their lot (buy from inventory as they have more incentive to get it off their books), know EXACTLY what other people are paying for that vehicle (specific make forums etc.), know about the various 'gotchas' like undercoating, 'ceramic' wax, carpet treatment, etc etc. and be prepared to ignore them.
Negotiate over email with the sales guy until you have NAILED DOWN a price youre willing to buy it for, so when you walk in you'll be buying and walking out with the car in 2-3hrs if you have your financing already arranged and teh money is in your account so you just write a check or wire it.
dude just use your powers of autism and recognize you dont want to talk to, see or meet anyone until the parameters of the deal are fully documented.
ez

>>28670806
If they are listing it for $27k does this mean it $27k or can you negotiate down?

>>28670808
that's their 'asking' price, and it almost certainly does NOT include tax, title, tag fees, dealer prep, document charges , etc. What you want to know is a breakdown of "out the door" price, or you could approach it with "$27k out the door" (i have no idea of what these cars are selling for so you need to do some homework on that).
and yeah car dealerships are kind of hurting right now as everyone is broke and everything is expensive so use that to your advantage.
everything is negotiable but you need to know all the little bullshit they're gonna try to tack on ("$600 for carpet stain resist spray" = $4 can of scotchguard and is irrelevant to the price, it's just a negotiation point).

>>28670790 (OP)
its really not a big deal anon, if you have some of that net worth liquid just but a car outright

>>28670798
the trick with car loans I use is if the interest rate is lower than what I can get on an average return on an investment, I put the equivalent amount of money into said investment and use it's returns to pay the loan down
if the interest rate is higher, then I aggressively pay off the loan as fast as i can

if you are already used to dealing with investments, a car loan won't be any problem for you

>>28670821
Aren't loan interest rates almost always higher than investment interest rates unless you are outright gambling on some risky stocks?

>>28670827
Really depends what investment vehicle we are talking about. But yes generally it's very hard to "outpace" the rest of the market.

>>28670827
>>28670833
my loan is 5% and the S&P 500 averages like 10% yoy

>>28670836
Real return is 7-8% though.

Check manufacturer inventory website
Get a feel for cash msrp and options
Check invoice price
Select dealer
State price
>yes write check
>no leave
It's that easy
If it takes longer than an hour leave

>>28670817
You pay those?
Just say no

>>28670842
>>28670827
I think we need to keep it simple for anon

But yes theoretically make money getting a loan on a car.

But what people never mention is the sky high replacement cost insurance on a financed vehicle.

>>28670795
>t. doesn't understand debt

>>28670872
Yea insurance drags the car price even more.

you sound like a bitch op

>>28670870
huh? fuck no.
i negotiate by email/text and say "here's what I need my out the door price to be (car plus tax/tag/title/docs/idgafwhatucallit)" and they can either do it, or not.
I dgaf how they get to my number only that they get there. No surprises.

I'm telling OP because he has no fuckin clue what he's about to do and these fuckin shitbag car 'salesmen' are gonna look at him like an alligator looks at a piece of raw chicken hangin over the side of a boat.
Imagine poor op, walks in thinking he's gonna buy this car for $26k. Wow! what a great deal! cheapest I've seen anywhere!
then they bring out the 4 square (yes they still do this shit!)
then they bring out the final paperwork showing his 'out the door' price is acckkccchhhhualllly $31k and asking him to sign right here.... just givin him a heads up bro.

>>28670897
Those mind games are hard for you?
Walk in
This price
Write check
Drive off

>>28670790 (OP)
Research what you want online. Go to the dealership knowing what you want. Salesperson is just trying to make commission and upsell, let them do their thing and then buy what you researched.
Car loans only go into default if you don't pay them, but you probably won't have a problem there.

>>28670900
i know you're ESL but please do try to keep up.
i dont "walk" anywhere before I've made the deal and I'm there to pick up the vehicle and drop off the check.

>>28670905
Goal posts moved mate
People ain't scary

>>28670910
OP says
>But i’ve never bought a car and i’m scared shitless at the thought of buying one.How do I get over this and bite the bullet...but I have no clue dealing with the sales people.

>>28670910
ESL dude completely misses the point

My aunt gave me a car before
But when i had to buy my own [2020 corolla] i went mentally insane from the debt. I paid the whole car in cash it was $23k with 7 year warranty that i never needed.

>>28670897
You ever walk out at signing, does this mean the price I see from autotrader is most often not the real price and grossly under?

>>28670790 (OP)
didn't you hear? chudjak is a chad now.

>>28670790 (OP)
>31
>net worth $85k

>>28670924
yes. because if they come to me with something different than the last emailed documents we agreed upon then the deal is off.
I dont have time to sit around arguing with some shitheads about a couple hundred bucks because someone wanted padding.
We had a deal, now we dont.
See ya.

I dont know anything about autotrader, havent used it in decades.

>>28670924
>most often not the real price and grossly under?
I wouldn't say grossly under, but when I was shopping around, a bunch of places had the autotrader price at 1k lower than listings on their own site

When you buy look at "less is more" and get the most basic model you can. Don't look at top trim, look at WHAT YOU WILL USE.

I just bought my first new vehicle and I bought a base model and it's luxurious as FUCK compared to even luxury vehicles from 2010. Vehicles are just packed so heavy with shit and problems + cost explode with add-ons. Start at the bottom and work your way up. Do not get dealer extras, just build something online going in with a target, then try to find it on a lot. Don't be afraid to walk away after a test drive. Try the others, watch YouTube comparisons.


One main suggestion I have for you is avoid turbos and get a hybrid instead

>>28670798
>I don’t want to have a car payment.
So why are you talking about loans? Go buy some <$10k car from the 2000s from some private dealer with cash.

>>28671046
No im saying I heard the loans are getting restricted, which should mean less demand and more favorable prices for me. I’m buying in cash.

>>28671055
>I’m buying in cash.
So what's the issue? Browse listings until you find a car you want, call them and say you want to come check it out, if shit looks more worn out and busted in person ask them to knock the price down.

>>28671065
Idk how to deal with salesman, never bought a car before. I heard they prefer you to finance, i also heard they tack on alot of shit.

Im really bad at dealing with people, that how I tool a girl out to spain and pretty much got used as an atm for that trip.

>>28670922
i like the corolla
it hasnt given me any problems and its good on gas

>>28671083
Don't buy new from a dealership. Find a car you want in your budget, go check it out, tell them you're paying cash, and haggle if it looks like it'll need work.

Humblebrag thread. Go buy a car pussy

>>28670790 (OP)
>My cars have always been hand me downs from my parents/siblings.
Nothing wrong with that.

>>28671083
stop being a pussy. they cant make you do anything you dont want to do. also buy brand new and pay full.

>>28671124
So if they say, hey we’re gonna put on all of these addons to the final bill and it ends up being like $5k over my expected price, can I just say to them hey I don’t need this remove this or i’m gonna walk out?

>>28671131
You can do whatever you want, you're a grown ass man.

>>28670790 (OP)
I'm 27 and worth about 5 dollars and a sad handjob

>>28670790 (OP)
>>28670794
I'll be honest I go to /o/ for financial advice and go to /gif/ for relationship advice kek.
Anyway I'm 33 and don't have anything close to you guys cuz I had to support my sister and elderly parents during covid so I don't have much. My mom keeps send me Pavel Durov bullshit saying it's ok not to own anything. But I would indeed like to own something besides my VW shit box. My question is how do I grow my wealth if I only got 1-1.5k a month to spend after taxes deductions and family burdens? Typically make 115k a year. Do I get another job?

>>28671141
>how do I grow my wealth if I only got 1-1.5k a month to spend after taxes deductions and family burdens?
don't spend it

>>28671141
I make that much, just spend less and save more. It aint that hard. You dont need anything complicated. Maybe cut off your lazy ass family.

>>28671141
Do research on how Bitcoin works, why it's a solid long term store of wealth, then DCA into Bitcoin.

Hold for at least five years through all volatility, you'll thank me later.

No, it's not too late, it's just starting to gain adoption by legit financial firms.

>>28671141
does your famalam get disability or old age pensions or anything? 115k/yr aint bad but for supporting 3 adults, yeah its gonna a little stretched so getting another job wouldnt hurt but also plan for the long term and start using your work 401k and put in as much as you can, esp. if there's a company match up to some point. In 15-20 yrs you'll be pretty surprised at how much its grown.
But yeah you gotta increase the income side of things if you're supporting parents and siblings.
good luck.

>>28671151
They aren't lazy, just unlucky. They work hard but just got bamboozled in the end.
>>28671191
I made money in crypto long ago but cashed out to pay my dad's bill.
>>28671202
They got nothing like that. I told my dad to go back to the civil service and get his pension (just needs 4 years) but he won't do it. My mom only works in summer. And my sister got pregnant and her ex apparently abused her so she is now a mess. Hate life bros all I do is work. But I would feel even worse not doing what I do.

Any advice on how to get a rich gf. Do rich girls even pay for struggling families? I'm weary

>>28671251
>Any advice on how to get a rich gf. Do rich girls even pay for struggling families? I'm weary
Learn to cook, take dance lessons, go to church socials

>>28671251
Oh and the only vehicles that chicks care about are pickup trucks and Italian-style scooters with two-up seating

>>28670790 (OP)
Mid-range or base model Toyota Corolla. Steel wheels if you can get them. Most popular car in the world. If they sell the Camry in your country consider that instead.

Most car-like cars you can get and if looked after will last thirty years.

get an FJ you faggot

https://youtu.be/JKrV66NB6O8?si=rX_tgbsIFKis7iVq

https://youtu.be/ih_c_kVQVJk?si=UmUltWiGYqMclnoO

https://youtu.be/ZJDv-7tzh40?si=I6Z7H3ITfPUp0ZD6

https://youtu.be/-57cQZbTCJ8?si=DIJbfDt03GsUI4-w

>>28671131
they will walk you through everything step by step and you can decline at those points. they kind of talked me into getting a warranty cause i was stupid.

>>28671251
I won't keep badgering you about it, but I still think BTC is a solid long term hold

>>28670790 (OP)
1) special order unless they have exactly what you want on the lot
2) don't finance if you don't have to
3) remember: everything (price, financing, trade-in if you have one) is negotiable
4) you will generally be better off at a branded dealership (they will catch hell from the franchise owner if they dick you around) e.g. Toyota/Honda than at "Randy's Fly-By-Night Car Lot, We Finance ANYBODY".
5) Win-win or no deal. Don't be afraid to walk away if it seems like they are trying to cheat
6) Realize that most car salesmen are not car guys, so they may not ha ve all the answers.
GOOD LUCK!

>>28671409
Oh, and 7) don't bother with extended warranty programs. They are usually a waste of money.
Keep up the maintenance and you won't have serious problems anyhow, unless you buy a lemon, which brings me to
8) DO YOUR REASEARCH
Honda and Toyota have few stinkers, but they do have them, so check the reliability, durability, and cost-of-ownership ratings on the models you're interested in.

>>28671418
https://youtu.be/DMLfDphfgG4?si=N4Xm_r5lyxhZiOK0

https://youtu.be/dc_B0W6dQA8?si=SCStbcwwOh8lNX8s

>>28670794
Lmao, you're a shitter, I was a a millionaire at 28 and multimillionaire at 32

>>28671418
>>28671425
What a fuckin beast

>>28670790 (OP)
>more money than me
>more incompetent than me

EVERY TIME

>>28670790 (OP)
>Is this even a good time to buy, I heard car loans are rapidly going to default.
That makes it a good time to buy because dealerships are desperate for cash flow. Look at any dealer’s website and cars are $2-5k below MSRP and it’s likely to get even better in the near future.

As for a car, just buy a Camery or Accord in cash and forget about it.

>>28671425
man that sucks, FJ cruisers are getting hard to find now

>>28670790 (OP)
stick to uber, you can't handle the torque

>>28670794
It took my 4 years to go from 1m to 3m. Real estate and stocks. You can do it bro.

>>28670790 (OP)
>worth $550k
funny way to say you have a 500k mortgage and 50k in the bank

>>28674359
No I dont have a house. I legit have $550k spread out into equities/crypto and some PMs.

>>28674440
You should def buy a car upwards of 15k. With that budget you can get great deals on used cars.

Don't know your entire situation but I think your family is taking advantage of you. Definitely don't let them know about your assets. I'd do anything for my family, but I don't have to support them and they don't ask for help that often.

>>28670790 (OP)
>>28670794
>29 / male (true xy born)
>791 credit
>$13k in bank account
How cooked am I?

>>28674483
you're ahead of most americans

Also you shouldn't keep $13k liquid in the bank, invest that shit so it can grow. You missed out on over $1600 this year alone by not keeping it in the S&P 500 at the very least.

>>28670790 (OP)
>$550k
You cant even buy a condo in that democract diaspora you call home.

Meanwhile I make $38k a year and own (actually paid off) a 5 bedroom brick house on 12 acres because im not fighting 3 million illegals for a paycheck.
Well....
Youre probably one of those spics that jumped the border illegally so fuck off.
California will burn to the ground and we'll reclaim it.

>>28674871
based

>>28670790 (OP)
Pay me 3k and I'll save you 5k on a new car (or 1k and I'll save you 3k on a used car.) I am a high-level sales rep and I do this for my job. I've negotiated my GR86 down from $32k to the wholesale price of $26k and got a 4% Interest rate loan.

>>28670925
Imagine if he just waited 5 years lol

>>28670790 (OP)
>But i’ve never bought a car and i’m scared shitless at the thought of buying one.
Buy a Toyota Corolla hybrid or a Prius. It is the equivalent of phoning it in if you need to have a car, and it's very hard to go wrong with one.