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Posted on 6/24/18 at 1:56 pm to lsu xman
My truck note is over $600. Financed $20500 of 32k for 36 months. Wife's Accord has 50k on it and it's paid for so we decided to finance mine for a short term and pay it off quickly. 25 months to go and it will be paid for with like 32k miles on it
Posted on 6/24/18 at 1:58 pm to fallguy_1978
Is a car note really bad debt anymore at such a low rate?
I mean sure if you are buying shite you can't afford over 7 years.
Otherwise who cares?
Real talk anyone borrow from 401k for cars?
I mean sure if you are buying shite you can't afford over 7 years.
Otherwise who cares?
Real talk anyone borrow from 401k for cars?
Posted on 6/24/18 at 2:00 pm to TheHarahanian
quote:
7-year car loans are a relatively recent development too.
If I can get close to 0% interest, I'll let them extend it as long as they want to, but I keep vehicles 7-8 years anyway.
This post was edited on 6/24/18 at 2:01 pm
Posted on 6/24/18 at 2:00 pm to thelawnwranglers
quote:
Real talk anyone borrow from 401k for cars
Is the monies withdrawn from the 401k taxed to death for a car purchase?
Posted on 6/24/18 at 2:00 pm to thelawnwranglers
The problem isn't financing. The problem is the 84 months.
That's not smart on a depreciating asset like that. And as someone pointed out, it shows you can't afford the vehicle and shouldn't be buying it.
That's not smart on a depreciating asset like that. And as someone pointed out, it shows you can't afford the vehicle and shouldn't be buying it.
Posted on 6/24/18 at 2:00 pm to lsu xman
$90 total to change the title over to me! 
It’s going on 10 years now so I’m in the early stages of looking
It’s going on 10 years now so I’m in the early stages of looking
Posted on 6/24/18 at 2:02 pm to lsu xman
you cant put anything down? no trade in?
sounds like its too expensive for your situation
sounds like its too expensive for your situation
Posted on 6/24/18 at 2:03 pm to lsu xman
F that noise. 12 years ago I bought the truck I still have and paid just a little over 3 hundred a month for 60 months. I thought 60 months was long, I wouldn’t even consider 84 months.
Posted on 6/24/18 at 2:03 pm to ThatMakesSense
quote:
Is the monies withdrawn from the 401k taxed to death for a car purchase?
Some 401ks let you borrow from yourself
If you quit your job need to payback or it is taxed plus 10% penalty.
So you get 4-5% risk free (if you trust yourself) but lose out vs what it would do in market.
Posted on 6/24/18 at 2:04 pm to Nado Jenkins83
quote:
you cant put anything down?
If I can't get reasonable price with trade in shite is too expensive. I hate coming out of pocket
Posted on 6/24/18 at 2:05 pm to lsu xman
shite, 15 years ago i had a 580 dollar car note.
Posted on 6/24/18 at 2:06 pm to rantfan
My most recent note was $450
Give me single cab work truck with roll down windows call it a day
Give me single cab work truck with roll down windows call it a day
Posted on 6/24/18 at 2:07 pm to thelawnwranglers
my truck is paid off with 50k miles on it. and i get 800 a month car allowance. that 800 goes into a saving account for the down payment on my next truck. will probably drive this one until it falls apart. which its a yota so doubt that happens
Posted on 6/24/18 at 2:08 pm to thelawnwranglers
I'd just wait to use a 401k until i was vested, if I was that desperate.
Posted on 6/24/18 at 2:09 pm to Nado Jenkins83
quote:
my truck is paid off with 50k miles on it. and i get 800 a month car allowance. that 800 goes into a saving account for the down payment on my next truck. will probably drive this one until it falls apart. which its a yota so doubt that happens
You think you will be in a spot to buy cash soon?
If everyone bought cars cash - price would be different.
I can't believe we are so stupid we started financing phones. Never made cellular service reduce price.
Posted on 6/24/18 at 2:10 pm to Nado Jenkins83
quote:
will probably drive this one until it falls apart. which its a yota so doubt that happens
I loved shopping for a Tindra, seriously. Went to 4 different dealerships, at all 4, within the first 5 minutes then salesmen showed me the video of the 1 million mile Tundra.
fricking losers.
Posted on 6/24/18 at 2:10 pm to Nado Jenkins83
quote:
you cant put anything down? no trade in?
I have about 12 months left to pay off my f-250 then I’m getting a 911. Keeping my truck so no down payment. 911 note will likely be around 1,500
Posted on 6/24/18 at 2:11 pm to ThatMakesSense
quote:
I'd just wait to use a 401k until i was vested, if I was that desperate.
Talking 401k loan not withdraw. If you think we are headed for shitty market maybe not bad? Wonder if we ever had 3 years recently where market didn't best 4-5% apr
Posted on 6/24/18 at 2:12 pm to lsu xman
I’ve always paid cash for my vehicles. I know some will argue that not smart....yada yada yada, but paying cash gets you into more of what you can afford.
Your likely to look past this bell or this whistle...or one more model upgrade when you’re not fronting over the cash on hand for it. FWIW, vehicles are more of a point a to point b thing to me as well so I’ve never spent over $20K for one and that was recently on a used Tundra.
Your likely to look past this bell or this whistle...or one more model upgrade when you’re not fronting over the cash on hand for it. FWIW, vehicles are more of a point a to point b thing to me as well so I’ve never spent over $20K for one and that was recently on a used Tundra.
This post was edited on 6/24/18 at 2:16 pm
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