# Any ants have a "luxury" truck that they wish they hadn't purchased?



## jeanocelot (Sep 2, 2016)

Here's a guy that had an $820/mo note on his truck! 
https://www.marketwatch.com/story/a...e-derailing-their-retirement-plans-2020-09-23


> Her husband *traded in his Ford F-150 in August for a lower-cost car and reduced his original monthly payment of $820 by about $100*,


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## Johnny Mnemonic (Sep 24, 2019)

I used to discourage people from buying brand-new cars. 

Until I realized that, without them, I couldn't buy their used car for fifty cents on the dollar a few years after they drove it off the lot.

Thank you, new car buyers!


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## Stevie The magic Unicorn (Apr 3, 2018)

Johnny Mnemonic said:


> I used to discourage people from buying brand-new cars.
> 
> Until I realized that, without them, I couldn't buy their used car for fifty cents on the dollar a few years after they drove it off the lot.
> 
> Thank you, new car buyers!


Yeah but I'm more the type to buy a new car and run it until the wheels fall off.

I bought my 2010 ford focus new, guess what?

STILL HAVE IT!

By the time I'm done with it....

There's no fixing it, more like scraping it off the driveway when the wheels rust off the frame.

The exception to that rule was my VW hatchback I had in Europe, I bought that one used in europe and kept it until I left the continent and then got rid of it...

But isn't leaving the continent a good enough reason to get rid of a car that isn't worth shipping home?


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## TomTheAnt (Jan 1, 2019)

Johnny Mnemonic said:


> Thank you, new car buyers!


Exactly! Just bought my 2016 Silverado Crew Cab loaded with bells and whistles for about 60% off original sticker price. In cash. Now me and my wife are just waiting for people to start trading in their 3-4 year old Tahoes for the new body style 2021s so we can upgrade my wife's 8 year old Tahoe.

Haven't had a car payment in over 10 years and we're loving it. Yeah, there are people saying paying cash for a depreciating asset is stupid and they are entitled to their opinion. I have mine. The way we are doing things has worked very well for us.


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## I will crack Lyft hacks (Aug 5, 2019)

I love my truck!


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## tohunt4me (Nov 23, 2015)

I will crack Lyft hacks said:


> I love my truck!
> View attachment 509944


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## ColdRider (Oct 19, 2015)

jeanocelot said:


> Here's a guy that had an $820/mo note on his truck!
> https://www.marketwatch.com/story/a...e-derailing-their-retirement-plans-2020-09-23


This shit cracks me up.

I wonder how many of these CONSUMERS whine about the prices of health insurance and doctor visits? Some of these people pay more in monthly car payments than I do rent.

New car, new smart phone, new apple watch: OMG must buy!!

IRA, 401k, savings: Huh, what's that?

PRIORITIES



Johnny Mnemonic said:


> I used to discourage people from buying brand-new cars.
> 
> Until I realized that, without them, I couldn't buy their used car for fifty cents on the dollar a few years after they drove it off the lot.
> 
> Thank you, new car buyers!


Keeps the economy going, eff it. I'm right there with you. Looking to buy a used car in cash next spring. Maybe $10k to $15k or so.

Truth be told, I'm looking to move walking distance to the office though so I may hold off. We're still working 50% remotely.


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## tohunt4me (Nov 23, 2015)

jeanocelot said:


> Here's a guy that had an $820/mo note on his truck!
> https://www.marketwatch.com/story/a...e-derailing-their-retirement-plans-2020-09-23


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## Daisey77 (Jan 13, 2016)

jeanocelot said:


> Here's a guy that had an $820/mo note on his truck!
> https://www.marketwatch.com/story/a...e-derailing-their-retirement-plans-2020-09-23


Whoa whoa whoa whoa . . . He traded his truck in that had $820 payments for a sedan and only saved $100 a month? What's wrong with this picture?


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## MHR (Jul 23, 2017)

I will crack Lyft hacks said:


> I love my truck!
> View attachment 509944


I remember early on posting an article about these two. I wonder how they're doing now with the pandemic. &#128561;



TomTheAnt said:


> Exactly! Just bought my 2016 Silverado Crew Cab loaded with bells and whistles for about 60% off original sticker price.


My husband has always driven a truck but just recently he was able to get his dream truck, used. The price was so friggin amazing I asked the sales man how long did it take to get the bloodstains out before they were able put it on the lot. I've never been one to immediately pull the trigger on buying a vehicle but I looked at him when we were told the price and said "do it before our sales guy sobers up".

All we know is that its previous owner was a professional athlete that thought he wanted to play at being a rancher.


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## TheDevilisaParttimer (Jan 2, 2019)

Stevie The magic Unicorn said:


> Yeah but I'm more the type to buy a new car and run it until the wheels fall off.
> 
> I bought my 2010 ford focus new, guess what?
> 
> ...


^^^This^^^ If you keep a car greater than 10 years the overall cost of ownership tanks new or used at purchase matters little when done this way.

A cars projected maintenance cost over the course of 10-20 years of ownership should paramount vs if it's used.


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## TomTheAnt (Jan 1, 2019)

tohunt4me said:


> View attachment 509972


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## Johnny Mnemonic (Sep 24, 2019)

Let's talk about the "middle" class...


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## amazinghl (Oct 31, 2018)

jeanocelot said:


> Here's a guy that had an $820/mo note on his truck!
> https://www.marketwatch.com/story/a...e-derailing-their-retirement-plans-2020-09-23





> Lynn Scott-White, 47, was furloughed from her job as a corporate travel agent at the end of March. Before the pan-demic, she and her husband together earned roughly $150,000, she said.
> 
> The Denton, Texas, couple pay $4,400 a month on their mortgage, four car loans and leases, and student debt, Ms. Scott-White said. Minimum required monthly credit-card payments total about $700. The debt was manageable pre-pandemic, she said.
> 
> She deferred lease payments on her Infiniti QX60 for three months and started paying again with unemployment benefits. Her husband traded in his Ford F-150 in August for a lower-cost car and reduced his original monthly payment of $820 by about $100, and his income covers the $2,100 mortgage.


They can't afford the house along with four car loans/leases. The debt is NOT manageable pre-pandemic.

Earning $150,000 a year, they should have focused on paying that student loan. Instead they bought and leased cars. They earned $150,000/year and lived from paycheck to paycheck.

With the houses market the way it is, they would be smart to SELL their house to DOWNSIZE to a smaller house or just rent, then use the money to pay their debt off and to get rid of the 4 cars. Then get 4 beater if they need 4 cars. But the probability of them doing that is almost zero. They will probably be in more and more debt and eventually, they will have to file bankruptcy and lose everything.


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## ColdRider (Oct 19, 2015)

I'm going to run some calculations to confirm if I should even buy a car or just order Ubers at this point lol. 

I thought we would be working from the office full time by now but we were notified last week that this 50% remote/office schedule is the new normal for the foreseeable future. 

It may not make too much sense to pay for a car if it's just going to be parked 90% of the time for now. 

Holy crap at that couple in the article though! So much debt, my stomach is twisting for them.


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## FLKeys (Dec 27, 2018)

Stevie The magic Unicorn said:


> Yeah but I'm more the type to buy a new car and run it until the wheels fall off.
> 
> I bought my 2010 ford focus new, guess what?
> 
> ...


I am a new car buyer, buy them new, take care of them and drive them until they die or they get totaled by a carless driver. Accident free and I get 12-15 years and 250,000 to 300,000 miles out of them. When they are on their last leg sell them off for $1000.00 and replace them.


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## Disgusted Driver (Jan 9, 2015)

Buying a new car is an emotional purchase and if you have the money, good for you! When it comes to uber or Lyft however, it's business and there's no room for emotion. For x or xl it's buy a beater and run it till the wheels fall off. My most recent purchase was a 2011 grand caravan with 110k miles for 5k. I have put 20k on it and$360 into it, paid for itself in 7 weeks and is probably still worth 5k. Runs like a champ.


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## Stevie The magic Unicorn (Apr 3, 2018)

FLKeys said:


> I am a new car buyer, buy them new, take care of them and drive them until they die or they get totaled by a carless driver. Accident free and I get 12-15 years and 250,000 to 300,000 miles out of them. When they are on their last leg sell them off for $1000.00 and replace them.


$1000?

Don't think i've gotten $1,000 off any car i've gotten rid of after the cost of towing it to the yard lol..


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## FLKeys (Dec 27, 2018)

Stevie The magic Unicorn said:


> $1000?
> 
> Don't think i've gotten $1,000 off any car i've gotten rid of after the cost of towing it to the yard lol..


Around here there is always some desperate person willing to pay for a beater with a hope and a prayer.


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## Fusion_LUser (Jan 3, 2020)

It's not just luxury trucks... so many people get in over their heads with expensive cars, boats, RV's...

EZ credit will always get you in to trouble...


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## jeanocelot (Sep 2, 2016)

Stevie The magic Unicorn said:


> $1000?
> 
> Don't think i've gotten $1,000 off any car i've gotten rid of after the cost of towing it to the yard lol..


LOL, because my ride is so old and in "rough condition" (CEL, dents all over the place, etc.), it has a wholesale vale of $400.


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## I will crack Lyft hacks (Aug 5, 2019)

Daisey77 said:


> Whoa whoa whoa whoa . . . He traded his truck in that had $820 payments for a sedan and only saved $100 a month? What's wrong with this picture?


"traded in his Ford F-150 in August for a lower-cost car and reduced his original monthly payment of $820 by about $100".

This shows how off people can be in relation to money, expenses, and life.

He could have bought a used old car under 10k cash.

No more 820 payment, use that to pay off credit cards, increase credit score, get 0% offer and switch the remaining balance to promo offers till paid off.

Clearing credit card debt is the most important move.

Once they have 0 credit card payment, 0 car payment for truck replacement, that's 1,500$ month difference.

Why do they have 4 car loans, you got kids, buy them a hoopty cash, or if you got money buy something better cash.

Should have 2 car payments max.

Reduce one more car payment through downgrading or buying cash and they should be close to 2,000$ Savings.

Use the 2,000$ to knock out student debt.

Within a few years they should be at a 2,500$ difference in expenses.

Is that what they will do?

Hell no!


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## RideShare_Hustler (Jun 18, 2020)

Lost 20k on it, bought a month before the lockdowns.











jeanocelot said:


> Here's a guy that had an $820/mo note on his truck!
> https://www.marketwatch.com/story/a...e-derailing-their-retirement-plans-2020-09-23


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## jeanocelot (Sep 2, 2016)

RideShare_Hustler said:


> Lost 20k on it, bought a month before the lockdowns.
> View attachment 510174


WOW! That's a lot of hustling you will need to do to make up for it!


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## RideShare_Hustler (Jun 18, 2020)

jeanocelot said:


> WOW! That's a lot of hustling you will need to do to make up for it!


I have already made up for it, twice.


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## Amos69 (May 17, 2019)

ColdRider said:


> This shit cracks me up.
> 
> I wonder how many of these CONSUMERS whine about the prices of health insurance and doctor visits? Some of these people pay more in monthly car payments than I do rent.
> 
> ...


Just bought a 2000 Silverado 1500 with 50,000 miles on it for $8,000. It's a heavy half with a full tow setup, 9,000 pounds

Don't need a new truck to do that.


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