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How You $500 Car Payment is Keeping You Broke


 
 
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section The Money Spot
  
 1 month ago '05        #2
pnoi89 18 heat pts18
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At 29 years old, I still never had a car payment.... Never understood it.

Bought a 2005 Audi A4 nearly a decade ago in cash for $6,000. Still driving it today, along with my $400 Lime scooter and road bike for commuting around town.
+106   

 1 month ago '14        #3
King Maximus 5 heat pts
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It’s true

I know people paying a rack a month on their car note

Fresh rides but still
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 1 month ago '04        #4
Hardkore 11 heat pts11
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 pnoi89 said
At 29 years old, I still never had a car payment.... Never understood it.

Bought a 2005 Audi A4 nearly a decade ago in cash for $6,000. Still driving it today, along with my $400 Lime scooter and road bike for commuting around town.
i wanna do that w/ whatever new car i get. i have a 2010 mustang w/ 1 year left to pay it off.

prob. either gonna keep it and upgrade the engine an exhaust or sell it and do my best to BUY a diff. car and not finance one.
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 1 month ago '04        #5
qutaboi225 70 heat pts70
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 pnoi89 said
At 29 years old, I still never had a car payment.... Never understood it.

Bought a 2005 Audi A4 nearly a decade ago in cash for $6,000. Still driving it today, along with my $400 Lime scooter and road bike for commuting around town.
Smaller cities require more commute. In Louisiana for example, im in Baton Rouge. Our public transportation is sh*t. And we have the highest insurance and worse roads in the country. So if you don't buy a decent newer car then you riding in the wild. 100%+ humidity with extreme heat, constant flooding and raining, and terrible roads woulda ate your Audi for lunch. Long story short, you need to constantly buy newer cars or pay more or equal to a note in repairs, tires, and insurance each year.
+46   

 1 month ago '17        #6
justin747 50 heat pts50
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 Hardkore said
i wanna do that w/ whatever new car i get. i have a 2010 mustang w/ 1 year left to pay it off.

prob. either gonna keep it and upgrade the engine an exhaust or sell it and do my best to BUY a diff. car and not finance one.
You bought a V6 didn't you??
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 1 month ago '15        #7
DamianDragunov 
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 justin747 said
You bought a V6 didn't you??



+30   

 1 month ago '15        #8
The South 17 heat pts17
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 qutaboi225 said
Smaller cities require more commute. In Louisiana for example, im in Baton Rouge. Our public transportation is sh*t. And we have the highest insurance and worse roads in the country. So if you don't buy a decent newer car then you riding in the wild. 100%+ humidity with extreme heat, constant flooding and raining, and terrible roads woulda ate your Audi for lunch. Long story short, you need to constantly buy newer cars or pay more or equal to a note in repairs, tires, and insurance each year.
It’s all relative homie.

What works for one cat won’t work for another.

I personally couldn’t find a car I trusted for my 3-4+ hours of commuting a day. Nothing worse than having car problems in the middle of bumper to bumper commuter traffic. That sh*t a whole bi*ch to deal with on its own, I don’t need to worry about my car making it home.

I bought a car, $7k cash a few years ago. Was a huge headache. Constantly working on this mf.. finally had to trade it in, it was a nightmare.
+27   

 1 month ago '04        #9
youngsiz 5 heat pts
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 pnoi89 said
At 29 years old, I still never had a car payment.... Never understood it.

Bought a 2005 Audi A4 nearly a decade ago in cash for $6,000. Still driving it today, along with my $400 Lime scooter and road bike for commuting around town.
Reduced maintenance like me for example I haven’t not had great luck taking on other people’s problems and lack of maintenance. So I’m some instances it would wind up turning into a car note when you have to get sh*t fixed every one to two months. Verses my car Honda I’m making payments on the max i have had to fix was the tensioner because it was squeaky. For someone people the used car idea works for other not so much.
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 1 month ago '06        #10
LYTE 184 heat pts184
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I feel homey
One of the reasons I went yeaaarrs w/o buying a car.
Eventually I financed 1.
I don't regret it but I knew b4 buying it was a waste of money.
Tbt I would of been cool with spending 5-8k cash on an used car

Plus I ride train/buses free and NYC isn't even for cars anymore. The bikes are getting more flex
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 1 month ago '17        #11
money99 90 heat pts90
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Just buy an electric car

I own a Tesla has savings alone $250-300 a month
+17   

 1 month ago '04        #12
Hardkore 11 heat pts11
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 justin747 said
You bought a V6 didn't you??
yes.
+11   

 1 month ago '17        #13
justin747 50 heat pts50
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 Hardkore said
yes.


NEVER buy a V6 "muscle" car.... But since you already got it just accept your L. Learn and don't make the same mistake next time.

The only thing that's worse than a n*gga with a V6 muscle car is a n*gga that tries to turn his V6 into a V8. Save up the money and get a V8 or buy something else. Cause no matter what engine or exhaust you put on/in that car, it won't be the same.

also don't be the n*gga trying to race V8s and sh*t knowing you bought the stripper version of a mustang. I was racing a lame in a V6 last night.

+41   

 1 month ago '09        #14
Baynut 5 heat pts
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Just have a side hustle that covers the car payment + insurance + gas. Personally, I will only ever lease a car unless that residual is on point, like the Jeep Wrangler. That car holds it's value very well, that's why I'm considering buying one for my gf. With the right numbers and credit, you can get a 45k Jeep for around $350/month.

I purchased my 96 SS Impala in 2015 with 12.5k miles cash(22.5k). That's my toy, I never drive it, just upgrade it. It only has 14.5k miles today.
+22   

 1 month ago '05        #15
Stuart Scott 237 heat pts237
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$366 for my car note on my 2015 toyota

Its not bad, I can cover it but it can seem expensive

Try to find ways to refinnance
+4   

 1 month ago '17        #16
KingBud 1 heat pts
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$1,455 | Props total: 3568 3568
Y take a payment that high?...thats wild..my car note wont be more than my mortgage...
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 1 month ago '17        #17
AllWins 16 heat pts16
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Didn’t click but propped.

fu*k all car payments!!!
+8   

 1 month ago '05        #18
Daddy Black 2 heat pts
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 justin747 said
You bought a V6 didn't you??

called him out lmao.
+9   

 1 month ago '05        #19
Daddy Black 2 heat pts
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Oh and. #no car payment gang

#multiple whip gang

Yea they older cars but fu*k that my insurance is dirt cheap and I fix them myself. I save SOOOOO much money and literally able to do whatever I want because there’s always disposable income. But I’m a frugal a*s n*gga. Everything gotta be on sale or at a price where I’m like yea I’m buying this sh*t right now.
+21   

 1 month ago '15        #20
Prad Bitt 
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Y’all nuccas out here making mortgage payments to floss, 600 note, 200 insurance, 400 gas
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 1 month ago '06        #21
JUICEbox 
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Straight facts...just made my last payment on the 19th. Run this into the ground then get something 4-5 years old
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 1 month ago '05        #22
Old School 
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 pnoi89 said
At 29 years old, I still never had a car payment.... Never understood it.

Bought a 2005 Audi A4 nearly a decade ago in cash for $6,000. Still driving it today, along with my $400 Lime scooter and road bike for commuting around town.
Are you handy with cars? Otherwise, what does your maintenance look like? Buying a used Audi was one of the worst financial decisions I made in my 20s.
+13   

 1 month ago '17        #23
myPOWER 3 heat pts
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This is just a simple expense analysis, people over complicate things.

If you want to save, keep expenses lower.

If you want to make more money, find a way to increase income.
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 1 month ago '17        #24
justin747 50 heat pts50
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 Daddy Black said
called him out lmao.


It's like a right of passage. It's all outta love. I did the same thing when I was younger. I bought a V6 Camaro and my homie dragged me CONSTANTLY. Told me I shoulda got the V8.

Then I bought the Z28, he gave me props and told me I was gonna do the same thing as him. He was right again lol.
+5   

 1 month ago '15        #25
Prad Bitt 
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 justin747 said


It's like a right of passage. It's all outta love. I did the same thing when I was younger. I bought a V6 Camaro and my homie dragged me CONSTANTLY. Told me I shoulda got the V8.

Then I bought the Z28, he gave me props and told me I was gonna do the same thing as him. He was right again lol.
I still proudly rock my V6 Maro great on road trips plenty fast for city. Dust y’all nuccas on my bike anyway.
+1   



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