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Never Spend More Than This on a Car


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section wild 'ish
  
 1 week ago '05        #51
GST 
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 arms said
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.
How much does one cost ? Bc where I live the cost of living is very low and $14 hour at full time could probably make it happen depending on the payments

 1 week ago '16        #52
Illogic 
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 pete jr said
Buy a car that you can afford.

Yíall trippin, too much in life isnít guaranteed for you to not spend on what youíre passionate about. If you like cars create enough money to afford the car you want.
A black millionaire wrote a book highlighting your post itís called save for zero or something like that
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 1 week ago '17        #53
StanlitoTheFly  topics gone triple plat - Number 1 spot x12
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We ball till you fall nicca


My daddy tell me that all the time
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 1 week ago '13        #54
Phenom354 
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 00010111 said
10% sounds like common sense to me.

And if you're spending more than 80% gross salary on a vehicle.
10% is insane. Yeah it sounds nice.

But basically if you make 200k per year all you should get is a 20k car base off this.

 1 week ago '06        #55
debo160 
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You gotta buy cars at a k*ller price. I picked up a Lincoln Mkt for 4,500 dollars. The car had 130K miles on it. Somebody ran into me and they cut a check for 14K. Not to mention the cash i'm going to pick up from the lawsuit. But cars are really worthless.


Last edited by debo160; 11-08-2019 at 06:00 PM..
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 1 week ago '17        #56
JacobWatch 
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 Lazy said
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
what car are you dogging out then selling and recouping your value??

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 1 week ago '12        #57
Yano 
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My pops put me on game a while ago, heís been driving beaters my whole life.

Got a rental property that pays his mortgage too, no mortgage and no car payment = at least 50% more of your paycheque in your pocket
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 1 week ago '04        #58
mr_underground|m  topics gone triple plat - Number 1 spot x2
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it doesn't always work like that. sometimes buying above your range increases your money capacity. if you don't buy nice stuff you don't experience nice stuff so you don't stand a chance of getting to that level. if you fly first class, you experience first class and that can motivate you to maintain that lifestyle.

also once you get the desire out of the way you are now in a position to save more because you're scaling back as you learn what you need and don't need. having a pending desire is far worst than getting the lambo phase out of the way as early as possible.


Last edited by mr_underground; 11-08-2019 at 04:00 PM..
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 1 week ago '18        #59
dinono10 
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My motto is buy the best car you can afford. Over here in the UK got an Mr2 spyder. Looks okay. Good mpg for a sports car, low to the ground, quickish, good mpg.

Thing is. I've got some back pay coming and tempted to buy a boxster /350z... However I don't need a new car especially with more miles than mine.

One thing I'd never do is buy a car on finance. Literally everyone here in the UK does that.






+2   

Top 10 most propped recently  1 week ago '05        #60
Micheal C. Will 
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Unless your car enthusiast who collects vintage vehicles that have and hold a high resell value, spending large amounts on a extremely depreciating a*set that is a car is not good business or smart.

Especially on an a*set which all it does, it gets you from point a to point b in a timely matter.
+3   

 1 week ago '04        #61
collegeboy58 
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 ReggieA said
One thing I learned from my last car note was, I need to come in with a bigger down payment. Last time I had $1,000 cash with the car, that was only worth 500, ended up with a 4.5 year loan at 365.81, which wasn't too bad.

I would never pay over $400 a month for a car. I got a friend and her husband, their car notes combined are nearly $1,300 a month

Enjoying at least 1 more year without a car note until I go out and get me a pick up truck with a cab, trying to go to the guy who sold me my last 2 years with around 2,000-2,500 cash w/ a trade in, trying to get a shorter note.

My ex, when she does car financing, she double up on her notes and pay her cars off in 2 years or less. But her credit is fu*king immaculate so usually she gets these nice car, no down payment and a affordable note she can double up on and still maintain a good lifestyle.
Bruh had a unicorn and let her go...
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 1 week ago '19        #62
zzxxccvvbb 
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I buy well maintained older cars and drive them until they need major repairs.

As long as it has air conditioning and is reliable then I am happy.

I got 100 000km for $2000 on my last car and only ever did oil changes, brakes, and tires.

I'd rather waste my money on new dumb sh*t every month than the same dumb car payment every month
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 1 week ago '19        #63
jordanair45 
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I ball out son. I mean, a car is a long term investment, so as long as you have a good job and can afford the payment, and maybe the payment is no more than 10% of your total gross monthly, then I dont see and issue.

I have super low APR on my loan, would be dumb to throw all that cash at it.
-2   

 1 week ago '15        #64
Ace dealer 
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 mr_underground said
it doesn't always work like that. sometimes buying above your range increases your money capacity. if you don't buy nice stuff you don't experience nice stuff so you don't stand a chance of getting to that level. if you fly first class, you experience first class and that can motivate you to maintain that lifestyle.

also once you get the desire out of the way you are now in a position to save more because you're scaling back as you learn what you need and don't need. having a pending desire is far worst than getting the lambo phase out of the way as early as possible.
All of this!!

allot of jobs or opportunities have unofficial uniforms,
A person can have all the game and skill...but that 2005 honda they pulling up in may stop prospective customers from taking them seriously.

 1 week ago '09        #65
ReggieA 
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 collegeboy58 said
Bruh had a unicorn and let her go...
Mutual parting. We had a lot of sh*t going on in our own individual lives that we had to take care of, so like most adults don't do, we broke up, but still maintain a great friendship
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 1 week ago '12        #66
J Money 95  topics gone triple plat - Number 1 spot x1
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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.
That's what happens when people get more car than they can pay for
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 1 week ago '12        #67
J Money 95  topics gone triple plat - Number 1 spot x1
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 GST said
How much does one cost ? Bc where I live the cost of living is very low and $14 hour at full time could probably make it happen depending on the payments
Base model starts at $30k & the most expensive one starts at $47k
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 1 week ago '05        #68
Tonero 
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Cliffs ? its already too late for me 850 per month on the benz like clock work
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 1 week ago '04        #69
DJ Maximum|M 
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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.
cars are expensive

but however reliable cars are hard to come by

5k on a car

more likely its more worth it to get a new car but within your means

if u make 40k you can afford a 12-15k car with no problem at a 3 percent interest rate

unless you know the person selling a car private sell its hard to spend that much on what you dont know
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 1 week ago '18        #70
neverchange 
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If you make 4k a month
10% of that would be 400 a month
Not including insurance and gas which is another 400$ minimum maybe 800$
Which ends up being 20-30% of your income which is pretty stupid if you think about it

The goal is to save up money to start a side hustle at the least but your own online business would be your best bet

If you donít make money in your sleep, you will work till you die - Warren Buffet
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 1 week ago '10        #71
TheWord 
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had to watch the video twice but they do preface it with "yearly" income. so $6k/yr is pretty flexible for a 5yr car loan. some old head at my job actually was putting me on game telling me that he changes his cars every 3yrs and basically comes out on top cause he doesnt have to worry about maintenance and the amount of depreciation is low enough to trade in for his next car that his payment is less than $200. that comes out to $2.4k a yr which is roughly what some of us spend on luxury items like cell phones/shoes/etc.
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 1 week ago '06        #72
realgunta 
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 LightAndBlaze said
Bruh dont do us like that...

We need stories...
 QuietPack said
I use to repo cars, fun times and big $ in that industry but grimey as fu*k on some Alpo and rich Porter sh*t .
^^we need stories mane
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 1 week ago '17        #73
arms 
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 GST said
How much does one cost ? Bc where I live the cost of living is very low and $14 hour at full time could probably make it happen depending on the payments
$42k. Easily around $600-700/month with a decent amount down. Add gas and insurance and you're around $1k/month. $14/hour is roughly $1800/month after taxes. It can be done but you'll be broke as a joke every month.
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 1 week ago '17        #74
arms 
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 J Money 95 said
That's what happens when people get more car than they can pay for
I sold cars years ago and I used to see it all the time. They'll walk in there and buy some sh*t they know they can't afford and then they get home, go over the paperwork with someone that allowed them to go to the dealer by themselves in the first place, realize they got fu*ked and come the next day trying to "give the car back". You got cracked in the back with a LoJack son. Ain't no giving the car back once you take delivery.

I remember I sold a 2014 Corolla L (base model with no key fob ) to this lady for $4xx/month and I think she put down like $500. This was back in 2013, she should be on her last payments right about now a*suming the car didn't get repoed.
+2   

 1 week ago '17        #75
arms 
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 DJ Maximum said
cars are expensive

but however reliable cars are hard to come by

5k on a car

more likely its more worth it to get a new car but within your means

if u make 40k you can afford a 12-15k car with no problem at a 3 percent interest rate

unless you know the person selling a car private sell its hard to spend that much on what you dont know
Theoretically that would work. The thing is most Americans are already leveraged to the hilt. They've got massive credit card debt, student loans and the average guy's credit is in the sh*tter.

I only sold a hand full of cars to people that qualified for an interest rate that low. Funny thing is those people were always the ones that chose the most rational cars for their income. Everyone else comes in with a 500 credit score and wants to drive off with a loaded Avalon for $250/month not realizing there's a good chance the bank might not let them finance the steam off a hotdog. Dealers are definitely predators but consumers deserve a good amount of blame for this.
+2   



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