lol @ carcels

[PenorBrahNoHomo]

I've only ever bought two cars and paid cash for both (cash that I didn't earn lol)

[GerbilFarmer]

Buy a car and drive it until it dies.

Buy another car.

I’ve had the same jeep Cherokee since my senior year of high school 10 years ago

[Visel]

My previous car was paid for in cash. It was ~$7000 for a 2013 Dodge Avenger V6. Kept it for over 2 years until the engine started making noises and the wheels were going bad. Paid probably $2k-3k in maintenance fees over that time.

Fast forward to 2019 I financed a 2019 Camry for ~$19k + fees/warranty-deal. Had a minimum payment of like $380, but I paid it off within 8 months so I'll never again have to worry about car payments.

Plan is to keep the Camry until it starts giving costly issues, and then next time around I'll sell it and get something 2-3 years old at the time again, paying with cash (no payments). Likely Toyota again.

[NosyJossie]

Dat 2.5 APR

I bought an s2000 for 11k, drove it for 2 years and sold it for 14k
Bought another s2000 for 19k and sold that one after 2 years for 22k
Bought a 911 Carrera S for 30k in April, just sold it for 34k after 5 months and 4k miles of enjoyment

That is correct brah. Very well done!! Keep trading up

67k for a car!! WTF?? You on that millionaire time brah?

You're like that guy who pays $180 for a ribeye steak, or like that miscer who spent $4.5k on a pair of Nikes

Either way, your money and mirin hard. You could have gotten that truck used for like $20k though - just saiyan.

I've only ever bought two cars and paid cash for both (cash that I didn't earn lol)

Mirin.

Buy a car and drive it until it dies.

Buy another car.

I’ve had the same jeep Cherokee since my senior year of high school 10 years ago

That's what I'm going to do, but I'm not going to lease or finance ever again.

[EarlA]

Thinking about getting a time-share. What do you think OP?

[MikeLowrrrey]

What if we hate boring cars? What if we crave a loud V8 and speed? What do we do op?

The past year I've been looking at used Scat Packs with 6 speed. Can't help myself

[5x10]

My Best Buy was a 1998 Buick lesabre I bought for 4800 in 2004
Drove it for 8 years, 200k miles
Ragged it out driving to work appointments
Sold it for 1200
During that time, was dumb enough to buy a couple vettes
Would have been another 100k+ if I had invested that money instead

[MikeLowrrrey]

List of 10-15 year old vehicles to pay cash for that last forever with easy, routine maintenance:

Crown Vic/ Grand Marq
Buick Century or Lesabre
late 90's Cougar/Thunderbird
Toyota anything
most full size V8 trucks going back to the mid 1990's
Suburban/Tahoe/Yukon
Ford Ranger

What else would you add to this list?

All are boring and slow. Crown Vic has potential if you put on exhaust, but that's it. I need muh V8 music and torque breh.

I wish I can buy a shtbox and be happy, but I can't.

[NosyJossie]

Thinking about getting a time-share. What do you think OP?

If you can pay in cash and find the value worth your time, do it.

What if we hate boring cars? What if we crave a loud V8 and speed? What do we do op?

The past year I've been looking at used Scat Packs with 6 speed. Can't help myself

If you can pay with cash, do it.

My Best Buy was a 1998 Buick lesabre I bought for 4800 in 2004
Drove it for 8 years, 200k miles
Ragged it out driving to work appointments
Sold it for 1200
During that time, was dumb enough to buy a couple vettes
Would have been another 100k+ if I had invested that money instead

Exactly

I save about 4 times as much as I spend on my car payment.

You sounds like a poor wagecel cuck.

And how much debt do you owe?

Just a question.

Won't be surprised if you nope the phuck out.

[NosyJossie]

When I'm debt free, and I have the cash, I'm buying a Cadillac XT4.

[Ironface]

This is why I still haven’t bought a car. Literally EVERYONE asks me “why don’t you buy a car?” Uh because I like having money?

[FingerNailsBrah]

Only if you can buy it with 100% cash.

[NosyJossie]

This is why I still haven’t bought a car. Literally EVERYONE asks me “why don’t you buy a car?” Uh because I like having money?

You can buy a car if it's with cash and only cash.

Good fuarking job brah. Repped on r/c.

[SSM12]

My car payment is like sub 200. Put a lot down though

[EliteCaremelo]

1. Take out car loan ($1,000 a month) vs buy a car for $20k
2. Use the funds to invest / shares (time value of money) and therefore will be better off taking out car loan repayment

The time value of money means your dollar today is worth more than your dollar tomorrow because of inflation.

[DizzySmalls]

Taking on a car payment is one of the dumbest things people do to destroy their chances of building wealth.

The car payment is most folks’ largest payment except for their home mortgage, so it steals more money from the income than virtually anything else.

The Federal Reserve notes that the average
car payment is $495 over sixty-four months. Most people get a car payment and keep it throughout their lives.

As soon as a car is paid off, they get another payment because they “need” a new car. If
you keep a $495 car payment throughout your life, which is “normal,” you miss the opportunity to save that money.

If you invested $495 per month from age 25 to age 65, a normal working lifetime, in
the average mutual fund averaging 12 percent (the eighty-year stock market average), you would have $5,881,799.14 at age sixty-five. Hope you like the car!

I mean 12% is wildly over target real return over that long of a period of time but still

[DizzySmalls]

You can buy a car if it's with cash and only cash.

It's the total cost of ownership that matters, including any interest payments. There is nothing magical about cash. Someone who drops 50k of their net worth on a car in cash is doing way worse than someone who finances a 20k car at 1.99% and invests their free income

[Icepops81]

Breaking news! Don’t borrow money to pay for something you can’t afford. Might be some interest involved! Ride the bus instead or ask OP for a ride. Brought to you by “the more you know public television”

[Thr0waway]

OP just discovered Dave Ramsey. Straight out of the video, right down to the "hope you like the car".
In all seriousness though OP, I completely agree. I drive a fifteen year old Toyota Camry that has been absolutely great. I sold my Audi a4 a couple years ago because I never drove it.
I have a work issued car that I drive Monday-Friday, and my chit Camry is my weekend car.

I have a car replacement mutual fund (how about that for Dave Ramsey, OP) and I will never have another car payment again.

[NosyJossie]

Dave Ramsey is the keto version of personal finance.

Lose lots of weight - FAST - but feel like hell.

Everybody wanna be a ceo 10k/day...don't nobody want to stop paying debts on their car.

[OT2000]

No debt crew. And we have 3 vehicles, 15’, 17’ and 20. Fuk car payments and paying interest on top of a depreciation asset.

[NosyJossie]

It's the total cost of ownership that matters, including any interest payments. There is nothing magical about cash. Someone who drops 50k of their net worth on a car in cash is doing way worse than someone who finances a 20k car at 1.99% and invests their free income

Who was inflation? Strong accounting.

[Dollabill7]

Dat 2.5 APR

I bought an s2000 for 11k, drove it for 2 years and sold it for 14k
Bought another s2000 for 19k and sold that one after 2 years for 22k
Bought a 911 Carrera S for 30k in April, just sold it for 34k after 5 months and 4k miles of enjoyment

Very similar to what I've done hahah, sitting on a 01 s2k summer car and a 06 cayenne s right now for winter :3

[RackaDo]

*op taking a girl out for dinner*

“Hop on the pegs of my bike, hope you brought a helmet !!”

[ltsOgre]

The car industry will be in big trouble if they can't get their cheapest models down to 10-15k in the near future srs. People simply can't afford new cars, and millennials are in survival mode and save every penny they can because they have to.