Charlotte, NC area: hate on OP, houses, boats & hoes

Well said. Communism works too, if you take humans out of the equation

 

I paid 50k cash for it 2 years ago, now it's worth 38k plus maintenance costs plus registration fees plus county, city, state taxes.

So in 2 years I lost probably 15k of previous liquid cash.

BuT mY IrA oNlY mAdE 5k.

(Theoretical for demonstration purposes only)

 

If you want to make that comparison you have to also have the same standards of that in maintenance, registration, depretiation, and taxes applied as well. SO the IRA made 5k now deduct the intrerest rate of the vehicle from that 5k. Then you also have to look at the loan did you pay enough down on the principal in that 2 yrs the vehicle depreciated to not be upside down on it........Under a loan you don't have that liquid cash either because you have to account for the payment each month, required extra expenses in insurance, and the same routine costs of owning a vehicle.

You can spin the comparison any which way you want it there is more risk than reward in paying interest and having a lien on a depreciating asset.

 

So I can finance at 1.00 rate. My bank pays 1.25 for even the basic savings account. So even at a basic .25 increase you are still making money on that money, instead of losing it at an unknown rate.

 

I wish I had $50k in my bank account.

#debt4lyfe

 

But you have equity in an appreciating asset, so you are at least half good.

 

¯\_(ツ)_/¯ I’ve paid cash for the last 3 vehicles I’ve bought. Worked out pretty well so far so I guess I’ll keep at it. Check in with me in 20 years and we will see who is ahead.

 

A few years ago my net worth was negative

 

Can't take it with you, so negative isn't a bad thing. Save for a rainy day, not a rainy decade.

 

will you even be alive in 20 yrs you’re kinda old.

 

I hope to not even make it 10... And I am living like it as well.

 

Does anyone’s wife or life partner have a sense of interior design?

Need some ideas for my bathroom refresh.

I suck at this type of stuff.

 

SpongeBob is always a good go to. It appeals to adults and kids alike.

 

And you are still loosing it at an unknown rate when you purchase a vehicle whether financed or paid cash. The biggest difference is paid cash you'll never be at risk of being upside down on a loan. So that argument you make goes for both ways of purchasing and you can't ignore it. What about the required extra insurance you must now carry where I can choose to only carry liability id bet that cost is a lot greater than the extra .25% you'll be getting from a savings account.

 

You would only carry liability on something you just paid 50k cash for??

 

At the end of the day, if your bills are paid and your family taken care of, enjoy yourself! You can't take it with you.






















Is what I tell myself after adding up my GX lift, wheels and tires......

 

I guess all those people who were upside down in their car and home loans back when those industries crashed had zero liability too. But idk loosing them was definitely a liability. Because you are still liable to pay the bill and if it gets trashed you in a wreck you still have to pay the loan off so I'd say there is liability there.

 

I just ordered these wheels


For the tires, should I buy them online or at DiscountTire? (BFGoodrich A/T KO2 265/75/r16)

 

Linky no worky for the wheels

 

find the cheapest place online and have discount match the price in the store.