The Economy and You…

[BacktoBasics]

I still can't believe the people that are dumping their cars and losing tens of thousands of dollars on the trade-in. With most people financing for at least 4 years they would have been probably 25K upside down and probably rolled it into the new note to save 10mpg.

You can buy a of a lot of gas for 25K+ interest.

Never underestimate the stupidity of the general public.

[Sportcamper]

hehehehe….Glad to see someone got a great deal….I almost wish that I really needed a big SUV…My Suburban runs fine….

Honda Civics & Toyota Corollas are the hot item in So Cal…

[MannyIsGod]

I still can't believe the people that are dumping their cars and losing tens of thousands of dollars on the trade-in. With most people financing for at least 4 years they would have been probably 25K upside down and probably rolled it into the new note to save 10mpg.

You can buy a of a lot of gas for 25K+ interest.

Yeah - I laugh when my buddy talks to me about the USED Priuses (Pri? LOL) that he turns around and sells for MORE than the new ones because of the lack of a waiting list. Nevermind that you will probably never recoup that extra expense in gas savings even if gas goes up in price.

People will always make one mistake and compound it by making another. Just flat out re ed.

[CosmicCowboy]

The market psychology is ridiculous. Obviously this isn't for me to drive, it's for the SO. She's in an older Eddie Bauer Expedition now and it was time to replace it. I usually buy exactly what I want relatively new (Her current rig was a dealer demo that the owner tricked out and drove for 8K miles) and then drive it till it gets about 180K on it and sell it before anything major breaks.

Even the SO has gotten looney about this . I told her we needed to replace her rig and I was looking at Expeditions and Navigators to make sure thats what she wanted again and she was like..."but what will people think? Maybe I should get something smaller..." I was like..."uhhh...do you WAN'T to drive something smaller?"...and she says "Oh NO! I LOVE my Expedition!"...LOL...I was like "well what other people think!...that rig is already made and SOMEBODYS going to be driving it and it might as well be you!"

[BacktoBasics]

Yeah - I laugh when my buddy talks to me about the USED Priuses (Pri? LOL) that he turns around and sells for MORE than the new ones because of the lack of a waiting list. Nevermind that you will probably never recoup that extra expense in gas savings even if gas goes up in price.

People will always make one mistake and compound it by making another. Just flat out re ed.

I don't even know where to begin with this. Its so common for people to role one bad note into another and into another and before they know it they're so upside down that no amount of good credit can earn them a good deal.

I just got done talking to a guy who hasn't even made the first payment on his trailer and his wife wants a new one with a bigger bathroom. What started off with a 7k trailer that he already owned with a remaining balance of 9k (upside down 2k) will now spiral to a 22k trailer and full note of over 30k because its one on top of another and now about to be on top of another.

Trading anything is a bad idea unless its an absolute must to trade. Never ever trade and especially not if what you own is payed in full and owned outright. There are maybe two or three exceptions to the rule but never ever trade is a safe bet.

[CosmicCowboy]

I NEVER trade in. Too many ways to play the deal and I don't do it for a living.

The SO's current rig is a '98 and that baby is going to Mexico. I was already planning on swapping out and LOVED the new import law. Mexico now can only import cars that are EXACTLY 10 years old....so they can ONLY import '98's which drives the price up on them...Mexico is still home to cheap gas and they LOVE them Eddie Bauers LOL. $4500 for the old rig, $14,500 for the new rig, and I'm in a new rig still in warranty for basically twelve grand after TTL. I love it when a plan comes together!

[MannyIsGod]

People are just idiots when it comes to buying cars and other things they finance. They don't see the money and its just monthly payments to them so they don't realize how stupid they are at times to get a 72 month CAR loan. I think car loans that long are so absurd.

[CosmicCowboy]

If you are gonna do a car loan you should NEVER go over 48 months and preferably 36. If you can't afford the payments thats the money gods way of telling you that you can't afford the car. If you break this rule you better like the car a lot and take care of it because you are gonna be upside down till it's paid off.

[CuckingFunt]

Priuses (Pri? LOL)

Prii, would be my guess.

[MannyIsGod]

If you are gonna do a car loan you should NEVER go over 48 months and preferably 36. If you can't afford the payments thats the money gods way of telling you that you can't afford the car. If you break this rule you better like the car a lot and take care of it because you are gonna be upside down till it's paid off.

Yeah exactly. I made the mistake of getting a car for 60 months at the age of 20. Worst financial mistake I ever made. The good thing is I made it young as so I've been able to recover and move on.

People in this country just do not live within their means. I can understand spending a good chunk of your income on a Home but the money people spend on cars is unbelieveable.