Am I crazy or is this the worst time ever to buy a vehicle?

[bjstare]

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G market is nutso. Very depressing.

Hopefully it normalizes as they are a dream car of mine.

Don't be poor.

[Buster]

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Don't be poor.

always

[Tik-Tok]

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Killy is Mexican. I thought everyone knew this.

For the last time, he's Puerto Rican!

[Buster]

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For the last time, he's Puerto Rican!

same same

[flipstah]

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G market is nutso. Very depressing.

Hopefully it normalizes as they are a dream car of mine.

I thought you were buying that INEOS one?

[killramos]

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I thought you were buying that INEOS one?

If it’s ever available to order. Q4 this year looks like the earliest possible timeline.

[shakalaka]

I am told production of G63 which was initially halted for the entire year, but is now supposed to be starting after summer this year.

[vengie]

Finance rates on used cars are insane!

We wanted to buy a used van for the wife as baby #2 will be here in the next few weeks and I don't want to use cash.

Scrap that idea.

[90_Shelby]

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Finance rates on used cars are insane!

We wanted to buy a used van for the wife as baby #2 will be here in the next few weeks and I don't want to use cash.

Scrap that idea.

Rates are irrelevant, financing is more sophisticated.

[Shlade]

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Finance rates on used cars are insane!

We wanted to buy a used van for the wife as baby #2 will be here in the next few weeks and I don't want to use cash.

Scrap that idea.

Arent used car finance rates usually 4.99 percent anyway if good credit? I dont think I've really ever seen lower than that ever.

[jaylo]

Borrow HELOC or pay cash for used vehicle.

Yeah you can afford the monthly but by the time you're done you've added 10-25% cost of the vehicle because of interest.

[Twin_Cam_Turbo]

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Borrow HELOC or pay cash for used vehicle.

Yeah you can afford the monthly but by the time you're done you've added 10-25% cost of the vehicle because of interest.

Even some of the new vehicles are like 3.99-4.99% now depending on what you buy I’ve noticed.

[rage2]

Mercedes actually has decent deals on used cars, specifically certified pre owned since they make that up front with the certification and extended warranty. 0.99% over 2 years. Doesn’t work if you don’t have the money and can’t afford that term.

[JRSC00LUDE]

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Arent used car finance rates usually 4.99 percent anyway if good credit? I dont think I've really ever seen lower than that ever.

Really? That's ridiculous. My unsecured LOC is less than that.

[XylathaneGTR]

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Finance rates on used cars are insane!
We wanted to buy a used van for the wife as baby #2 will be here in the next few weeks and I don't want to use cash.
Scrap that idea.

Just take a page from the book of @89coupe ; pay cash - no debt, no problem. Can't pay cash? Just work harder, you entitled degenerate!

if it's worked for him...it'll work for you too!

[vengie]

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Just take a page from the book of @89coupe ; pay cash - no debt, no problem. Can't pay cash? Just work harder, you entitled degenerate!

if it's worked for him...it'll work for you too!

Lol!
I don't disagree.
Our SUV is paid off, but I don't want to spend $50k cash on a van, I'd rather finance that and invest.

Likely going to say screw it and continue having her drive the SUV another year or two until things calm down.

[XylathaneGTR]

That'd be my plan, too. SUV should be able to handle the equipment for both kids (congrats by the way), and hang tight till things (hopefully) normalize or calm down a bit

[90_Shelby]

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Just take a page from the book of @89coupe ; pay cash - no debt, no problem. Can't pay cash? Just work harder, you entitled degenerate!

if it's worked for him...it'll work for you too!

I am no finance major but I’m going to hazard a guess that their are far more people who have financial troubles associated with carrying too much debt, versus people who have financial troubles and no debt or money owed?

I have learned recently that carrying debt, is more sophisticated (cars primarily) but I’d love to be educated on how financial stability is increased by carrying a higher debt load.

I’m not suggesting that this relates to Vengie’s situation, this is a general inquiry as it’s been brought up a few times now.

Feel free to educate me or someone else can.

[vengie]

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I am no finance major but I’m going to hazard a guess that their are far more people who have financial troubles associated with carrying too much debt, versus people who have financial troubles and no debt or money owed?

I have learned recently that carrying debt, is more sophisticated (cars primarily) but I’d love to be educated on how financial stability is increased by carrying a higher debt load.

I’m not suggesting that this relates to Vengie’s situation, this is a general inquiry as it’s been brought up a few times now.

Feel free to educate me or someone else can.

Leveraging debt to make money, so long as your financial gains outweigh your interest rate.

[XylathaneGTR]

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I am no finance major but I’m going to hazard a guess that their are far more people who have financial troubles associated with carrying too much debt, versus people who have financial troubles and no debt or money owed?
I have learned recently that carrying debt, is more sophisticated (cars primarily) but I’d love to be educated on how financial stability is increased by carrying a higher debt load.
I’m not suggesting that this relates to Vengie’s situation, this is a general inquiry as it’s been brought up a few times now.
Feel free to educate me or someone else can.

My comment was only meant to be a general shitpost at 89c's expense for my own amusement - that's about all I'm good for here.


Edit: but i'll bite.
Yeah...on one hand there are people who take on more debt than then can service and it bites them. On the other hand are people who can sustainably manage the debt they take. Taking a finance loan on my car instead of paying for it in cash frees up cashflow for me to invest and earn a greater return than the cost of the financing; I come out ahead, versus saving and dumping that cash into car as a lumpsum.

The counterpoint to that view is I could have not taken the car loan at all and instead invested everything and come out even more ahead over the same period of time. Very true, and that lifestyle could work for some people - but what's the impact to me of living like that? I didn't want to ride the bus, so I made the discretionary decision to take some debt which I assessed as being within my means to service, to get what I wanted. I don't mean to assert that this debt brings a greater degree of financial stability to my life, but it fit the value equation of my life and brings positive impacts to other areas of my life vs. hoarding all my shekels until I could buy the car as a lump sum. These are the decisions we make as consumers.

I interned for a medical startup which avoided debt like the plague and grew only when they could internally sustain it. It was a very safe, stable way to grow the business and avoids the risk of growing unsustainably, or too quickly. They ended up getting bought out and the owners made a pile of money. One could argue they could have grown faster, or achieved a higher valuation, had they taken on some debt to fund growth. Could be true, could not be - but ultimately the proposition of debt didn't fit their value equation. These were the decisions they made as operators.

For one to say that 'all debt (aside from a mortgage) is the devil' and you just need to 'work really hard and grind for what you want' and 'if you have to take debt, you're entitled and just not working hard enough' and then flex superiority for living that way is a naïve simplification, and in my opinion not a very well-reasoned outlook - so i'll bust some balls over it for my own amusement.