Have you heard Dave Ramsey's take on this. I think it's actually good

May 5, 2015
3:28:35pm

Mayor of Cougartown

basically you are at a point where you can decide if you want to drive a "nice car" the rest of your life and make perpetual payments the rest of your life.

his numbers are off but the principle is good.

Watch this video on YouTube

Report problem with this ad

Mayor of Cougartown

Previous username: kennycoug
Bio page: Mayor of Cougartown
Joined: Sep 13, 2005
Last login: May 7, 2024
Total posts: 55,130 (15,921 FO)

Report problem with this ad

Messages

Author

Time

So, really, how much is "reasonable" to spend on a car?

CosmoK

5/5/15 3:09pm

For me it was based on how much of a car payment we could afford after figuring

supertux

5/5/15 3:11pm

How many miles will you put on it each year?

CougarEat

5/5/15 3:12pm

Likely 10k-ish.

CosmoK

5/5/15 3:14pm

Yes

supertux

5/5/15 3:14pm

Want facts on subjective personal finance decisions, you came to the right place

snowbird

5/5/15 3:12pm

He wants a car, not a motorcycle.

Bert609

5/5/15 3:25pm

buy a used whatever for around 13k in cash.

Jeremy

5/5/15 3:17pm

How much cash do you have? Once I got out of my first car loan I never wanted to

db59840

5/5/15 3:20pm

Why?

bluebloodedcoug

5/5/15 3:39pm

I like having more cash flow every month. I don't like paying interest. It also

db59840

5/5/15 3:42pm

RE: I like having more cash flow every month. I don't like paying interest. It

godawgs

5/5/15 4:01pm

I drive cars until they are dead. So I have a LONG time to save for my next car.

db59840

5/5/15 4:05pm

Some people don't like the emotional weight of debt

bluebloodedcoug

5/5/15 4:07pm

Do tell. Where are you getting an interest bearing account better than 2.7%?

wapiti

5/5/15 4:55pm

It depends.

Bert609

5/5/15 3:25pm

a lot.

BlueFrog

5/5/15 3:25pm

$$$$

Cougarealist

5/5/15 3:33pm

I view it like this...

RedlandsCoug

5/5/15 3:25pm

What utility do you need to get from the car?

quikryptonite

5/5/15 3:26pm

If I could justify a nice truck, I would.

CosmoK

5/5/15 3:35pm

Have you heard Dave Ramsey's take on this. I think it's actually good

Mayor of Cougartown

5/5/15 3:28pm

I feel like you can buy a reliable car for somewhere between

BoiseBlue

5/5/15 3:41pm

so true. some people are car people and that's how they want to spend their $$

Mayor of Cougartown

5/5/15 3:51pm

Some pretty big assumptions in that strategy

Jersey hunter

5/5/15 3:52pm

If you did the mutual fund in 2009 you'd be 2x richer.

wapiti

5/5/15 4:57pm

more like 3x

Superman21

5/5/15 6:46pm

I have a nice gently used 2013 Honda Fit Sport with 20k miles that you can buy.

PharmD

5/5/15 3:32pm

How much? Need a car for my college kids to drive

Jersey hunter

5/5/15 3:44pm

$53,400

kccougar

5/5/15 3:43pm

here's a way to buy cars without losing money on them

Jersey hunter

5/5/15 3:43pm

This sounds like black magic.

CosmoK

5/5/15 3:54pm

Great way for insurance companies to take your retirement.

Superman21

5/5/15 6:53pm

This honestly sounds like a terrible idea, IMO.

db59840

5/6/15 11:18am

How well do you know your financial situation/budget?

bluebloodedcoug

5/5/15 3:44pm

I pay only as much as I have cash for.

BearsandBulls

5/5/15 4:48pm

A good rule of thumb

Posting on CougarBoard