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Never Spend More Than This on a Car


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section wild 'ish
  
 2 weeks ago '17        #1
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Mr Scaramucci  topics gone triple plat - Number 1 spot x18
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Never Spend More Than This on a Car
 

 
-17   



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88 comments
 

 2 weeks ago '17        #2
arms 
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Idk why you got slapped for this.

People are spending WAY too much on cars and I don't think most people are aware that the car industry in addition to the broader economy is about to implode. We get the data on a weekly basis.

Go ahead and slap this post. I'll make sure to @ you n*ggas when the recession is in full swing and cars are being repoed by the thousands.
+61   

 2 weeks ago '18        #3
achoice 
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 arms said
Idk why you got slapped for this.

People are spending WAY too much on cars and I don't think most people are aware that the car industry in addition to the broader economy is about to implode. We get the data on a weekly basis.

Go ahead and slap this post. I'll make sure to @ you n*ggas when the recession is in full swing and cars are being repoed by the thousands.
I hope it does, but haven't ppl been saying this for a while? when is this gonna happen cuz i been hearing it for over 2 years
+20   

 2 weeks ago '17        #4
Thierry Henry 
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 arms said
Idk why you got slapped for this.

People are spending WAY too much on cars and I don't think most people are aware that the car industry in addition to the broader economy is about to implode. We get the data on a weekly basis.

Go ahead and slap this post. I'll make sure to @ you n*ggas when the recession is in full swing and cars are being repoed by the thousands.
a co worker's car just got repoed on tuesday, he had a 370z tryna pay it with a $14/hr salary
+68   

 2 weeks ago '17        #5
arms 
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 achoice said
I hope it does, but haven't ppl been saying this for a while? when is this gonna happen cuz i been hearing it for over 2 years
These things take time. We actually almost slipped into recession in 2015. It's the FED that's been propping the market up.

Currently there is almost $1.2T in outstanding auto loans. That is astronomical. The amount of people with subprime auto loans is staggering. 6 years ago the longest term was 72 months. Now I'm seeing people getting 84 and 96 month terms. WTF.

And the problems aren't just here either. From China to Germany, cars are a big problem.



We're already in a recession. It's just that they haven't announced it yet. They've been injecting billions of dollars into the banks every day for the past couple months. They've lowered interest rates 3 times this year alone. All this after claiming to be doing quantitative tightening. Now they're telling us not to call this QE4. THIS IS QE. If the economy weren't in such big trouble there'd be no need to do this because these are tools of last resort. Last time they did all this stuff was during the last recession.

I wouldn't advise anyone to take on a car loan right now.
+37   

 2 weeks ago '17        #6
arms 
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 Thierry Henry said
a co worker's car just got repoed on tuesday, he had a 370z tryna pay it with a $14/hr salary
A lot of people are in their cars at 40-50% of their income. That's ridiculous. If you live on your own there's no way you can pay for a 370z making $14.
+16   

 2 weeks ago '18        #7
achoice 
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 arms said
These things take time. We actually almost slipped into recession in 2015. It's the FED that's been propping the market up.

Currently there is almost $1.2T in outstanding auto loans. That is astronomical. The amount of people with subprime auto loans is staggering. 6 years ago the longest term was 72 months. Now I'm seeing people getting 84 and 96 month terms. WTF.

And the problems aren't just here either. From China to Germany, cars are a big problem.



We're already in a recession. It's just that they haven't announced it yet. They've been injecting billions of dollars into the banks every day for the past couple months. They've lowered interest rates 3 times this year alone. All this after claiming to be doing quantitative tightening. Now they're telling us not to call this QE4. THIS IS QE. If the economy weren't in such big trouble there'd be no need to do this because these are tools of last resort. Last time they did all this stuff was during the last recession.

I wouldn't advise anyone to take on a car loan right now.
I wouldn't ever take on a car loan, or any type of loan unless it's for a house, even with interest after 30 years, it's hard to lose money since prices usually go up. I think right now it's smarter to buy a good used car instead of new, maybe an Accord or a Camry.
+11   

 2 weeks ago '14        #8
DJ HiStakes 
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Fugg dat we ball 10 percent is a hoopty I’m cool.
+4   

 2 weeks ago '05        #9
HARBINGER 
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fu*k this show
-1   

 2 weeks ago '17        #10
Lazy 
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 arms said
These things take time. We actually almost slipped into recession in 2015. It's the FED that's been propping the market up.

Currently there is almost $1.2T in outstanding auto loans. That is astronomical. The amount of people with subprime auto loans is staggering. 6 years ago the longest term was 72 months. Now I'm seeing people getting 84 and 96 month terms. WTF.

And the problems aren't just here either. From China to Germany, cars are a big problem.



We're already in a recession. It's just that they haven't announced it yet. They've been injecting billions of dollars into the banks every day for the past couple months. They've lowered interest rates 3 times this year alone. All this after claiming to be doing quantitative tightening. Now they're telling us not to call this QE4. THIS IS QE. If the economy weren't in such big trouble there'd be no need to do this because these are tools of last resort. Last time they did all this stuff was during the last recession.

I wouldn't advise anyone to take on a car loan right now.
Car loans are also easy to take advantage of

Take out a loan at low payment

Dog the car out

Sell it and recoup value

Rinse and repeat

The amount taken out is never repayed
-9   

 2 weeks ago '19        #11
Goop Hair It Is 
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 Thierry Henry said
a co worker's car just got repoed on tuesday, he had a 370z tryna pay it with a $14/hr salary
Insecurity is a muthafu*ka smh
+12   

 2 weeks ago '19        #12
Thatdude31 
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It’s true you shouldn’t spend that kinda money on a car, but honestly it’s too each his own.

In a perfect world everyone is financially responsible and plans for the future has savings etc. But for some, that super fly Benz might be the only reason they come to work at all. So I try to lead by example and try not to pass judgement.

You never know what motivates people, so you just gotta let them live their life and try your best to meet them were they’re at.

If you can teach them better wonderful, if you can’t you tried.


Last edited by Thatdude31; 11-07-2019 at 11:08 PM..
+19   

 2 weeks ago '05        #13
old head  topics gone triple plat - Number 1 spot x4
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The average American doesn’t have $500 to spare in case of an emergency.

The average car payment in America is $400.

Common sense tells you what’s wrong here.

+56   

 2 weeks ago '16        #14
postemupndunkit 
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Man some of y’all mad smart , shout to y’all knowing man

Car industry is done
+14   

 2 weeks ago '16        #15
Illogic 
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Paid a 100k for Tesla it’s my summertime daily driver amazed by the car everyday. When I am in traffic bi*ches love me dudes hate I know why

Ode to Gucci Mane


Last edited by Illogic; 11-07-2019 at 11:26 PM..
-15   

 2 weeks ago '13        #16
Afr0Centric 
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 arms said
Idk why you got slapped for this.

People are spending WAY too much on cars and I don't think most people are aware that the car industry in addition to the broader economy is about to implode. We get the data on a weekly basis.

Go ahead and slap this post. I'll make sure to @ you n*ggas when the recession is in full swing and cars are being repoed by the thousands.
Youíre not lying. This report just came out.

WASHINGTON (AP) ó Consumer borrowing rose in September at a modest pace, driven by more student and auto loans, though a category that mostly includes credit cards fell for the second straight month.

The Federal Reserve said Thursday that overall consumer borrowing increased 2.8% to $4.15 trillion. A category that covers student and auto loans rose 4.2%, while credit card debt fell 1.2%.

https://finance.yahoo.com/news/consumer-borrowing-rises-led-more-201927306.html
+5   

 2 weeks ago '19        #17
maranello550 
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 arms said
Idk why you got slapped for this.

People are spending WAY too much on cars and I don't think most people are aware that the car industry in addition to the broader economy is about to implode. We get the data on a weekly basis.

Go ahead and slap this post. I'll make sure to @ you n*ggas when the recession is in full swing and cars are being repoed by the thousands.
I remember seeing an 18 year old take out a car loan with 12 percent interest.And it was for a dodge charger.The total amount is like 1000 a month.
+14   

 2 weeks ago '15        #18
isthistobe  topics gone triple plat - Number 1 spot x1
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2020 looking ugly already
+10   

 2 weeks ago '16        #19
00010111 
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10% sounds like common sense to me.

And if you're spending more than 80% gross salary on a vehicle.
+9   

 2 weeks ago '14        #20
FukHowYouFeel 
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I don't think they read that sh*t right. Seems mad low. I think the expert was saying your debt service on a car note should never exceed 10% of your gross income.

$36,000/year = $300/month for car expenses. Not you should only buy a $3,600 car.
+17   

 2 weeks ago '17        #21
Chrispy 
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This site needs many more threads like this
+20   

 2 weeks ago '04        #22
eazyvaboy 
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 arms said
Idk why you got slapped for this.

People are spending WAY too much on cars and I don't think most people are aware that the car industry in addition to the broader economy is about to implode. We get the data on a weekly basis.

Go ahead and slap this post. I'll make sure to @ you n*ggas when the recession is in full swing and cars are being repoed by the thousands.
He got slapped because he violated a long standing rule that BX veterans abide by. If you post a video like that, leave cliff notes underneath the video or summarize how much you are not supposed to spend instead of just making people watch a video.

Don't hate the messenger - just answering your question on why people are slappin his post.

+32   

 2 weeks ago '06        #23
mrep3 
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 Thierry Henry said
a co worker's car just got repoed on tuesday, he had a 370z tryna pay it with a $14/hr salary
Damn wonder how he got the car in the 1st place
+3   

 2 weeks ago '10        #24
jhust4ever 
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This dude think people by cars case all the time
-2   

 2 weeks ago '07        #25
pete jr 
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Buy a car that you can afford.

Y’all trippin, too much in life isn’t guaranteed for you to not spend on what you’re passionate about. If you like cars create enough money to afford the car you want.
+15   



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