10 Year Car loans
- Thread starter GLADIATOR
- Start date
Mike out of no where!! The gangs all here…
No we are just making fun of u in the group chat.
Pay? I thought we all raced other chumps and just took their cars and the respect.
At the end of the day, if you want to take a 10 year loan out for a car, RV, truck, boat, then do it. I get you were trying to create conversation, but you gotta know the crowd you are talking to. Everyone here has Ukrainian wives in their bed, which is stuffed with the finest of $100 bills, Russian tanks parked next to their supercars and bro diesels, and know how to play, manage, and run sporting organizations better than the people who do it for a living. Ohh and they complain about the price of their Nicor bill due to heating their mansions in Barrington.
Im being sarcastic here, but I think you get the point.
Boats go up to 15 years on normal shit like a toon or performance boat, up to 30 on a boat with bedrooms that’s considered livable
I'm at the age i do not want any car payments, learned my lesson when i was younger, multiple cars $1000+ a month in car payments. Even if it's 10 years at 0%, do not want lol.
Pay? I thought we all raced other chumps and just took their cars and the respect.
At the end of the day, if you want to take a 10 year loan out for a car, RV, truck, boat, then do it. I get you were trying to create conversation, but you gotta know the crowd you are talking to. Everyone here has Ukrainian wives in their bed, which is stuffed with the finest of $100 bills, Russian tanks parked next to their supercars and bro diesels, and know how to play, manage, and run sporting organizations better than the people who do it for a living. Ohh and they complain about the price of their Nicor bill due to heating their mansions in Barrington.
Im being sarcastic here, but I think you get the point.
Don’t forget professional home and automobile buyers
I would never do this on a Dodge....
Now, if I could run across an illegally imported hybrid Volkswagen, definitely.
All kidding aside, please keep posting things like this, gladiator.
Now, if I could run across an illegally imported hybrid Volkswagen, definitely.
All kidding aside, please keep posting things like this, gladiator.
Late to the party but this is a really interesting convo (& stuff I think about all the time.)
I think the trick with these is that its for people who KNOW they aren't keeping it 10 years because they are serial flippers, and need a low payment to justify the fun. I'll give you an example.
When I bought my Wrangler 392, I paid $5k over so it was ~79k sticker + 5k = ~84k.
Ive had it exactly 6 months, put on 5k miles, and am bored (because I have serious mental health problems related to cars & my continued happiness with them...)
I've been shopping around for a dealer to buy it from me, and the highest dealer offer I've received is $82,500
That means my effective cost has been $450/mo in depreciation.
If I'd taken a 60mo loan at 3% may payment would be $1,510/mo & about 200/mo of that would have been interest.
If I'd taken a 120mo loan at 5% may payment would be $890/mo & about 340/mo of that would have been interest.
So assuming I did the 120/mo loan, I'd have an additional 140/mo of depreciation (x 6 = $840) - and for that extra cost, I nearly halved my payment.
For those 6mo, I was fucking around with a new ~$85k car for about $800/mo
I can justify ~$890/mo for an extra/fun car but can't justify $1510/mo for an extra fun car. For me the small extra $ in interest is meaningless because I know I'm not keeping it 10 years.
I've not had a loan longer than 84mo, but wouldn't hesitate to go for a longer one if the rates were reasonable, and it was easy (like at the dealership/credit union)
I think the trick with these is that its for people who KNOW they aren't keeping it 10 years because they are serial flippers, and need a low payment to justify the fun. I'll give you an example.
When I bought my Wrangler 392, I paid $5k over so it was ~79k sticker + 5k = ~84k.
Ive had it exactly 6 months, put on 5k miles, and am bored (because I have serious mental health problems related to cars & my continued happiness with them...)
I've been shopping around for a dealer to buy it from me, and the highest dealer offer I've received is $82,500
That means my effective cost has been $450/mo in depreciation.
If I'd taken a 60mo loan at 3% may payment would be $1,510/mo & about 200/mo of that would have been interest.
If I'd taken a 120mo loan at 5% may payment would be $890/mo & about 340/mo of that would have been interest.
So assuming I did the 120/mo loan, I'd have an additional 140/mo of depreciation (x 6 = $840) - and for that extra cost, I nearly halved my payment.
For those 6mo, I was fucking around with a new ~$85k car for about $800/mo
I can justify ~$890/mo for an extra/fun car but can't justify $1510/mo for an extra fun car. For me the small extra $ in interest is meaningless because I know I'm not keeping it 10 years.
I've not had a loan longer than 84mo, but wouldn't hesitate to go for a longer one if the rates were reasonable, and it was easy (like at the dealership/credit union)
Fair point - I almost added that caveat in but figured it was irrelevant since you pay those whether you did a 5yr or 10yr loan.Morepower4me you're not paying tax, title/license fees on these cars?
In my specific case, i normally trade/buy a car at the same time - so it’s a wash.
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View attachment 115297
I thought you would like this Used 2013 Nissan GT-R Premium for $72900 on Autotrader http://atcm.co/S2PVDP/2503A71E
Look at that panel gap in the front of the hood/above the grill! Def worth $73k!
I thought you would like this Used 2018 Dodge Challenger SRT Demon for $169800 on Autotrader http://atcm.co/S2PVDP/25DAAAAC
1100 HP…
You guys do what you have to do as many are in the hamster wheel of car payments for the majority of their working lives.
Gotta say if the Escalade wasn't being a fucking unreliable POS I would still be driving it. I still have our 2013 Cruze that is at something like 165k and probably will for as long as it goes reliability under its own power. Other shit I want in life.......
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