Whos payed off?
#62
10-28-2005, 12:49 AM
#64
10-28-2005, 03:25 AM
Not trying to take anything away from the people who bought their G35's out right. Personally I'd rather put more into owning a home. I make a pretty decent living. I could pay my car off now, and then some. But I'm perfectly cool with paying a car note. Especially since G35's have ridiculously great re-sale value. I initially put down about 13.5k.
Anyway, I have a few questions..
1.)Age
2.)What do you do for a living
3.)Do you own and/or pay a Mortgage on a home/condo/townhouse?
To answer my own questions..
1). 30
2). Composer
3). Condo Owner (Still paying off)
Anyway, I have a few questions..
1.)Age
2.)What do you do for a living
3.)Do you own and/or pay a Mortgage on a home/condo/townhouse?
To answer my own questions..
1). 30
2). Composer
3). Condo Owner (Still paying off)
#65
10-28-2005, 07:02 AM
Originally Posted by dothemath
I had an 88 Sentra for 8 years. I then purchased a 96 dodge ram and paid for it over a three year period. I owned that truck for about 7.5 years. I then purchased my G35 coupe with cash.
You must remember that this thread is not a random sample of people, which of course would have a very large majority of people making payments. Some people like to post a bunch of crap, so I do talk things with a grain of salt as well. But if you are a bit lucky, focused on your goals, and you are good with your money when luck and some success comes your way life can be easier than some think. I don't have kids either which helps. I get enough exposure to them teaching.
By the way, I love INGdirect. I'll take four time the interest of banks, or double the credit unions any day. If you open a 2 year CD you can currently earn 4.5% with no minimum deposit to open.
You must remember that this thread is not a random sample of people, which of course would have a very large majority of people making payments. Some people like to post a bunch of crap, so I do talk things with a grain of salt as well. But if you are a bit lucky, focused on your goals, and you are good with your money when luck and some success comes your way life can be easier than some think. I don't have kids either which helps. I get enough exposure to them teaching.
By the way, I love INGdirect. I'll take four time the interest of banks, or double the credit unions any day. If you open a 2 year CD you can currently earn 4.5% with no minimum deposit to open.
Gman2004, I think many people take out home equities or lines of credit on their houses and 'pay off their cars'. While this may be a good way to pay less for the car over the initial finance term, you actually are paying for a longer term and paying MORE for the car in the long run. It's possible that some people transfer their auto loans to their mortgages and say their car is paid off when in the real world they just assumed $40K in debt elsewhere. It's all semantics in my book.
Also, if you had $40K cash in your hand, why would you want to pay off the car in full up front? Being a savy investor with good credit you can get 1.9% for 5 years on an auto loan. Take the $40K and put it into an investment that pays out higher interest and MAKE MONEY on the $40K. Heck, buy some dirt with the $40K and double your money in 5 years.
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#66
10-28-2005, 07:33 AM
Originally Posted by neffster
Here is another way to invest your money for LESS THAN 2 years and get a BETTER interest rate. Check this out... I-Bonds.
...
Also, if you had $40K cash in your hand, why would you want to pay off the car in full up front? Being a savy investor with good credit you can get 1.9% for 5 years on an auto loan. Take the $40K and put it into an investment that pays out higher interest and MAKE MONEY on the $40K. Heck, buy some dirt with the $40K and double your money in 5 years.
.
...
Also, if you had $40K cash in your hand, why would you want to pay off the car in full up front? Being a savy investor with good credit you can get 1.9% for 5 years on an auto loan. Take the $40K and put it into an investment that pays out higher interest and MAKE MONEY on the $40K. Heck, buy some dirt with the $40K and double your money in 5 years.
.
#67
10-28-2005, 07:36 AM
Originally Posted by FAST1
Huh??? I think of myself as a savy investor but I have no idea where anyone could get 1.9% for five years. The going rate for a new car auto loan for five years is more in the 6.5% range.
#68
10-28-2005, 08:03 AM
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Originally Posted by Gee Im Fast
Doesn't make sense...so your saying if you die with a car unpaid, that you are relieving her of stress and the dealer is just gonna forget about his money?
Assuming it's a finance and not a lease, that car's gotta get paid off. Period. And that means she'll STILL have to sell it to get the money to pay off your loans.
But ofcourse if you mean they'll have to seize it, then I guess thats no burden on her....unless you had her co-sign ofcourse, then you just damaged her credit, majorly. And everyone is entitled to thier opinion, that I can agree on and respect
Assuming it's a finance and not a lease, that car's gotta get paid off. Period. And that means she'll STILL have to sell it to get the money to pay off your loans.
But ofcourse if you mean they'll have to seize it, then I guess thats no burden on her....unless you had her co-sign ofcourse, then you just damaged her credit, majorly. And everyone is entitled to thier opinion, that I can agree on and respect
#69
10-28-2005, 08:07 AM
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I have been using ING as well.
#71
10-28-2005, 10:14 AM
1.) 33
2.) 1/3 Owner of consulting firm
3.) Mortgage on a home. But the cost of my house would make most of you laugh your azzes off. Location, location, location... ...and I'm in West Texas!
Cost of living is adjusted accordingly, of course... ...which would also make most of you laugh. It's not like CA or even Austin for that matter!!!
I'm the sole source of income and have a wife and two kids, a mortgage, 2 car notes, etc. Nothing frivilous.
I've always had a car note and have just figured I always will. It seems like one of those expenses that you just have to deal with, like housing. Of course, if you're banking enough to avoid having a monthly car payment, more power to you. I would if I could.
2.) 1/3 Owner of consulting firm
3.) Mortgage on a home. But the cost of my house would make most of you laugh your azzes off. Location, location, location... ...and I'm in West Texas!
Cost of living is adjusted accordingly, of course... ...which would also make most of you laugh. It's not like CA or even Austin for that matter!!! I'm the sole source of income and have a wife and two kids, a mortgage, 2 car notes, etc. Nothing frivilous.
I've always had a car note and have just figured I always will. It seems like one of those expenses that you just have to deal with, like housing. Of course, if you're banking enough to avoid having a monthly car payment, more power to you. I would if I could.
#73
10-28-2005, 12:06 PM
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#74
10-28-2005, 12:16 PM
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Some of these posts make no sense......pay for your car outright, but you don't own property.
I own 2 properties and I am about to close on my 3rd in January. Between the 3 I have about $460K in equity. The first property was bought with $30K down and it has $180K in equity. I bought it in January of 2001, but did not close until August 03 (pre-construction). I could pay for 4.5 G35's outright with that kind of money.
I own 2 properties and I am about to close on my 3rd in January. Between the 3 I have about $460K in equity. The first property was bought with $30K down and it has $180K in equity. I bought it in January of 2001, but did not close until August 03 (pre-construction). I could pay for 4.5 G35's outright with that kind of money.
