4,060
 

Never Spend More Than This on a Car

most propped comments
 5 days ago '17        #89
Thierry Henry 
space
avatar space
space
Props total: 4739 4 K  Slaps total: 190 190
 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   
 5 days ago '17        #88
arms 
space
avatar space
space
Props total: 8179 8 K  Slaps total: 1165 1 K
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   
 5 days ago '05        #87
old head  topics gone triple plat - Number 1 spot x4
space
avatar space
space
Props total: 30373 30 K  Slaps total: 2326 2 K
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   
 5 days ago '17        #86
arms 
space
avatar space
space
Props total: 8179 8 K  Slaps total: 1165 1 K
 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   
 4 days ago '04        #85
eazyvaboy 
space
avatar space
space
Props total: 21146 21 K  Slaps total: 1096 1 K
 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   
 5 days ago '17        #84
Chrispy 
space
avatar space
space
Props total: 1327 1 K  Slaps total: 238 238
This site needs many more threads like this
+20   
 5 days ago '18        #83
achoice 
space
avatar space
space
Props total: 1294 1 K  Slaps total: 527 527
 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   
 5 days ago '19        #82
Thatdude31 
space
avatar space
space
Props total: 1215 1 K  Slaps total: 95 95
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   
 5 days ago '14        #81
FukHowYouFeel 
space
avatar space
space
Props total: 21245 21 K  Slaps total: 4281 4 K
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   
 5 days ago '17        #80
arms 
space
avatar space
space
Props total: 8179 8 K  Slaps total: 1165 1 K
 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   
 4 days ago '07        #79
pete jr 
space
avatar space
space
Props total: 4588 4 K  Slaps total: 587 587
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   
 5 days ago '19        #78
maranello550 
space
space
space
Props total: 211 211  Slaps total: 34 34
 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   
Top 10 most propped recently  4 days ago '04        #77
collegeboy58 
space
avatar space
space
Props total: 7895 7 K  Slaps total: 470 470
 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
How do you dog out an already depreciated a*set and recoup the value?
+14   
 5 days ago '16        #76
postemupndunkit 
space
avatar space
space
Props total: 31319 31 K  Slaps total: 4975 4 K
Man some of y’all mad smart , shout to y’all knowing man

Car industry is done
+14   
 5 days ago '19        #75
Goop Hair It Is 
space
space
space
Props total: 6078 6 K  Slaps total: 1311 1 K
 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   
 5 days ago '18        #74
achoice 
space
avatar space
space
Props total: 1294 1 K  Slaps total: 527 527
 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   
 5 days ago '15        #73
isthistobe 
space
avatar space
space
Props total: 29978 29 K  Slaps total: 5017 5 K
2020 looking ugly already
+10   
 5 days ago '16        #72
00010111 
space
avatar space
space
Props total: 22477 22 K  Slaps total: 2828 2 K
10% sounds like common sense to me.

And if you're spending more than 80% gross salary on a vehicle.
+9   
 4 days ago '08        #71
flav 
space
avatar space
space
Props total: 9925 9 K  Slaps total: 2465 2 K
 FukHowYouFeel said
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.
I thought the same thing (what you mentioned) but sadly



If you make the median per capita income of about $42,000 a year, for example, you should limit your budget to $4,200. If you make the median household income of about $62,000 a year, don’t spend more than $6,200 on a car.
then he even added this:







Mazda 3, Yaris, Kia Rio ???
+8   
 4 days ago '12        #70
Steelgrip 
space
avatar space
space
Props total: 12558 12 K  Slaps total: 1062 1 K
 flav said
I thought the same thing (what you mentioned) but sadly





then he even added this:







Mazda 3, Yaris, Kia Rio ???
I bought a used Civic a couple years ago for 8k so this thread is reinforcing how good I feel about that purchase. I bought it in cash, no financing.
+7   
 4 days ago '06        #69
Qbert 
space
avatar space
space
Props total: 12491 12 K  Slaps total: 1361 1 K
Honestly I been living on the edge for a minute, and it's funny how things work. I take things as a sign and mom made a comment I need an SUV. Which I had in mind but never acted on it. She said that and it lit a fire under me so the next day I'm at the Toyota dealership looking at them. Initially I wanted a 4-Runner but decided on the Sequoia because of the DVD system my yute can watch in the back. She loves that sh*t. Cost a grip but honestly no buyers remorse.

If I have a reason to buy something and I know there's a legit explanation on why I want this specific thing I don't care about price. That's on me but I really like to buy experiences. Even when I go out to eat if I'm not famished it's about what I want to try. Spent too much time worrying about the right column and how much it costs to make my decisions. Who wants to live life that way all the time.

I remember Pusha T talking about something like this just googled it its from Money On My Mind "Baby don't buy it. I know he's a ball player but he's not going to spend it. He's been poor for much too long, so trust me"

I been in that zone and it isn't fun you just want to live and enjoy things with your kid and spoil women you like (well I do anyways) mind you money is important but it's just a tool to get what you want really. It's great to stack but it's even better to have it coming in on some forever sh*t with residuals. I'm not at that level yet but that's the aim. It's not about even trading time for money anymore which is limited.''


If I want something that makes sense to me and enhances my experiences I'll build on it and figure out the details later.

Spent too much time not even taking a step towards what I want because of all the what if's and all that.

i could of made a wrong move but who knows we will see. It's funny how different people see things. Bosses at work who make big money are congratulating and have nothing negative or fearful to say. They understand money and aren't too shocked at it because to them big money is a reality. Only tips they gave me is about how other people see you.

Then I have this co-worker who is always dreaming about making it, he does his business which is multilevel marketing and always a champion of their products. Which he always sounds like a damn salesman. That is good and all but it's funny how his aim is more negative and coming from a place of lack because that sh*t is not a reality to him yet. More about worry "I hope you didn't get that for other people" "Can you afford it"

That same dude got this bad girls number at work and waited and waited to take her out because he wanted to get in a better place with money and all that. She eventually moved on and said she likes when guys strike when the iron is hot basically. That was well over two years ago and funny thing is I got a text from her the other day which caught me off guard. I mean we talk and we're cool and lately we been vibing a bit more than usual and were supposed to hang out a few weeks back and just the other day she asked me something so shocking my reply kind of offended her. She said she's going to Jamaica in January and wanted me to come as a travel partner. We aren't even on that level but she made it clear to me another guy wanted to go but she said she rather go with me. So I'm riding with that until something blocks it or it doesn't work. Just weird how things work, I didn't believe it not cause I don't believe in myself just cause that is a big thing to ask someone off jump.

But here we go.


Last edited by Qbert; 11-08-2019 at 05:48 AM..
+7   
 4 days ago '15        #68
KoKaine Dawkins  topics gone triple plat - Number 1 spot x2
space
avatar space
space
Props total: 2030 2 K  Slaps total: 860 860
i bought a 2008 acura RL with 100K on it for 6 grand straight cash.... feels like a brand new car, yall some morons
+6   
 4 days ago '15        #67
AlmightySae 
space
avatar space
space
Props total: 2339 2 K  Slaps total: 475 475
 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.

Hell, you can't even live on your own with 14 dollars an hour wtf.
+6   
 4 days ago '13        #66
FNLN5150 
space
avatar space
space
Props total: 12199 12 K  Slaps total: 1158 1 K
 alejandrososa said
Just give me a used 96 impala or camaro Iím gucci
fu*kin bought this 17 impala like a dumbass...

I leave the doors unlocked, hopin somebody steal this sh*t...
+6   
 4 days ago '18        #65
neverchange 
space
space
space
Props total: 33 33  Slaps total: 8 8
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
+5   


ADVERTISEMENT
Sign me up
 
 

yesterday...


most viewed right now
+27online now  40
Video inside Abandoned Japanese Billionaire 200,000,000 Mansion w/ Everything Left B..
67 comments
1 day ago
@wild'ish
most viewed right now
+33online now  33
Video inside Snoop Has A Message "Oh Cuz, Its Black/Brown Together You Got A Problem..
119 comments
21 hours ago
@hiphop
most viewed right now
online now  25
Image(s) inside Lil reese reportedly shot
292 comments
20 hours ago
@hiphop
most viewed right now
online now  8
What TV streaming service do you have?
84 comments
1 day ago
@movies
back to top
register register Follow BX @ Twitter search BX privacy