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Never Spend More Than This on a Car

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 5 days ago '17        #89
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88 comments


Mr Scaramucci  topics gone triple plat - Number 1 spot x18
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Never Spend More Than This on a Car
 

 
-17   
 5 days ago '16        #88
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..
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 5 days ago '17        #87
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
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 4 days ago '10        #86
jhust4ever 
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This dude think people by cars case all the time
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 5 days ago '05        #85
HARBINGER 
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fu*k this show
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 4 days ago '19        #84
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.
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