I financed my 1st car!!!

[Le234]

I know I'm kinda old to be doing it for the 1st time but I'm still excited

Don't let them get you down..You paid what you paid.. Congrats..!

[FFailed]

How are you 32 with a job paying 180k/yr and you have to finance a car for 12%? Have you not at least been using a credit card all these years? I was able to get a good rate on my mortgage without ever financing a single car.

[FFailed]

You'll never hear a word from me about not getting ahead. I live off grid, about as debt free as possible. More boats than I need, multiple ATVs and Snowmobiles, Waverunner. All later models, not financed. building a cabin/cottage at the moment, and have a decent woodshop/gym.Multiple traplines...fishin, huntin all the time and managing a seasonal construction company doing custom homes on the water at 33. Winters mostly off from work, ecause of ice, but we just bought a hovercraft, so maybe year round work in the future... Just bought another 3 acres because it made sense as land is running out here and prices are starting to rise. Building in five or so years once its paid off. Maybe sell it and do it again.

I make the best of what I have.

And then my wife says she wants a reliable vehicle for winter, etc... I keep her happy.


I get what your saying about reliable vehicles in that price range, I just found that till now I was spending the same, if not more annually to keep used vehicles on the road. I think you discredit what salt does to everything on a car. I would love to do a cost analysis based on the vehicles I have had vs this one and see, but if it was a huge difference I would have noticed by now. My salary hasn't changed much in three or four years, so now I find it is easier to figure out how much I spend on what. Before it was- surprise, the super duty needs in intake and exhaust manifold. I gave my old 06 or 07 saturn Vue (with 120000 km on it) to my dad last year. He put about 2000 into it since then before the body rotted out enough that the rear end was coming out of it. The part was not replaceable.

Sounds like you got it made

[Visel]

Too many posts to read ITT, but on this topic, I hope that OP put down a nice down payment! 12.6% APR is pretty outrageous, pay that thing off in 3 months if it makes you more comfortable OP, don't let that interest destroy your net worth... the depreciating asset is already working on that as we speak!

This is why my personal advice is in general the below:

1) Do not buy a brand new car. Certified pre owned is the way to go, unless there's some crazy deal or special you're aware of and it out values the used market.

2) Get KBB "Great Value" or better.

3) Check Car Fax or equivalent, but if it's Certified Pre Owned you know it'll be solid.

4) Do not allow your household to own cars valued at 50% or more of your annual income. If vehicles are a significant portion of your annual income, then you're tying away your money into things that go DOWN in value, and it's STUPID.

5) Pay 50% or more of a down payment if financing. Best rule of thumb is to buy it outright, but 50%+ is a solid compromise.

6) Overpay your payments by at least 100%, to knock out the debt quick. Treat it like a credit card debt.

[DinoPOOP]

12.6

[AWSbruh]

Too many posts to read ITT, but on this topic, I hope that OP put down a nice down payment! 12.6% APR is pretty outrageous, pay that thing off in 3 months if it makes you more comfortable OP, don't let that interest destroy your net worth... the depreciating asset is already working on that as we speak!

This is why my personal advice is in general the below:

1) Do not buy a brand new car. Certified pre owned is the way to go, unless there's some crazy deal or special you're aware of and it out values the used market.

2) Get KBB "Great Value" or better.

3) Check Car Fax or equivalent, but if it's Certified Pre Owned you know it'll be solid.

4) Do not allow your household to own cars valued at 50% or more of your annual income. If vehicles are a significant portion of your annual income, then you're tying away your money into things that go DOWN in value, and it's STUPID.

5) Pay 50% or more of a down payment if financing. Best rule of thumb is to buy it outright, but 50%+ is a solid compromise.

6) Overpay your payments by at least 100%, to knock out the debt quick. Treat it like a credit card debt.

only thing I don't agree on is financing

[nn586]

Yall are dumb ITT

Higher rate = better

12.6% is outstanding, if you're at like 3-5% then you're a fckn moron

[NLnemesis]

12.6

You are batchit crazy and I'm being 100% srs

[Jms89]

[crupiea]

Good for you, have to start someplace. Now, pay that damn thing off!!

[FearThisjake]

Even though this is a roll bread...

... Lol @ everyone chitting on OP because the fiesta ST is a "kids car"

Fuk outta here with that chit. Whats he supposed to get, a 2020 Corvette? A minivan?

[StormRunner]

See sig

[pWally]

12.6

[Eatforgains]

4 pages deep and not 1 single pic of this pile of shyt Fiesta?

There fun cars to drive.. I don't know how to upload pics from my phone but it's kona blue fiesta st with matte black pro corsa rims

[davik]

its obviously a troll thread based on the first page and post

[batmanman]

Carsalesmanbrah

[ZMAg]

Canada. Bought a 2018 equinox for my wife. went 1.9 percent over five (not financing anything past warranty).

And I thought I got screwed as they offer 0.9 on a lot of models.

Edit..meant to say anything more than

pics of hefty wife, freak

[Eatforgains]

its obviously a troll thread based on the first page and post

It's not but I appreciate your negativity

[Siyork]

I know I'm kinda old to be doing it for the 1st time but I'm still excited

Congratulations you have taken on debt

One of the easiest things to do in life

ranks up there with getting pregnant or being a women in today’s world for “takes no effort but still congratulated for some reason”

[ChristineMN]

what rate

holeeeeeeee f lol

Why though? Jesus fuark.