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Old 06-23-2013, 12:57 AM   #31
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Originally Posted by JeepCourtney3700 View Post
n00g7,

In other words, if I can't afford it at 36 months financing, then I know I really can't afford it. And right now, I can't
That's completely different than being able to afford it @ 36mo but choosing to invest elsewhere by taking the 60mo loan.
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Old 06-23-2013, 03:22 AM   #32
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ya gotta love it when people on welfare and unemployment get to drive nice vehicles. Hopefully we make their rent payments too.
I seriously hope you'll never need assistance at some point in your life...

However, if you ever do, come back and tell everyone how you made it without drawing from the "system" that others typically get ridiculed for using in the time of need.

These are insurance policies we pay into... UI, SDI, SSDI, Workers Comp and STD/LTD policies.

I know you carry insurance for your house, car and other life casualties.. I'm guessing you wouldn't walk away from that cash - would you? Therefore what's the difference?

People that don't deserve assistance and bleeds the system should be sent to jail for fraud.

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Old 06-23-2013, 03:36 AM   #33
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Who the hell looks at vehicles at investments? Yeah there's the one in a million collectible for an above the middle class citizen but the regular 9 to 5 Joe? I agree that some people have no business getting approved for loans but if everyone was financially smart then the world would be boring.

I got a 2003 GMC Sierra Denali in 2011 for $16,000 @ 2.75 for 72 months.

I just got a 2013 JKU last month for $29,995 @ 2.35 for 48 months.

"My car payment is so affordable, it's so low, etc." It's not about getting the lowest payment possible. Your payment is $250 a month but $150 goes to interest. "If your car loan is more than 36 months you have no business getting a loan, 72 month loans are for suckers, etc." It's not about getting a short-term loan. It's all about your interest late & how much more you're paying over the minimum payment. My 2.75 & 2.35 loans are low but not the lowest but I think I'm doing pretty good for a 22 year old. I know so many people twice my age with horrible loans but without them we wouldn't have any loans that reward financially responsible people.
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Old 06-23-2013, 06:44 AM   #34
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Originally Posted by it_felt_so_good View Post
Who the hell looks at vehicles at investments? Yeah there's the one in a million collectible for an above the middle class citizen but the regular 9 to 5 Joe? I agree that some people have no business getting approved for loans but if everyone was financially smart then the world would be boring.

I got a 2003 GMC Sierra Denali in 2011 for $16,000 @ 2.75 for 72 months.

I just got a 2013 JKU last month for $29,995 @ 2.35 for 48 months.

"My car payment is so affordable, it's so low, etc." It's not about getting the lowest payment possible. Your payment is $250 a month but $150 goes to interest. "If your car loan is more than 36 months you have no business getting a loan, 72 month loans are for suckers, etc." It's not about getting a short-term loan. It's all about your interest late & how much more you're paying over the minimum payment. My 2.75 & 2.35 loans are low but not the lowest but I think I'm doing pretty good for a 22 year old. I know so many people twice my age with horrible loans but without them we wouldn't have any loans that reward financially responsible people.
"i got a 2003 GMC Sierra Denali in 2011 for $16,000 @ 2.75 for 72 months."
"72 month loans are for suckers, etc."

You are correct about 72 month loan are for suckers, but looks like you are also contradicting yourself.
"
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Old 06-23-2013, 07:00 AM   #35
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Why are people hating on longer term loans?

I have one, the interest is $250/yr. That's literally 1/10th of one paycheck. DGAF.
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Old 06-23-2013, 11:14 AM   #36
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Who the hell looks at vehicles at investments?
Anything that one puts his money into is ultimately an investment into something. When you buy food for yourself, you're investing in you. You're also spending your money at a retailer and investing in them as a company. I could go on and on but for the sake of the topic...

People who want to capitalize on someone else's nostalgia and buy unique, rare and exclusive vehicles view them as investments (that also may be why these vehicles don't get driven many miles: low miles, higher asking price). These kinds of vehicles hold their value and over time, appreciate. When sold at auctions they tend to sell for more money than purchased. But these are long term investments.

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...if everyone was financially smart then the world would be boring...
???? Being financially smart and taking out bad loans are two different things. Our global economy would be very different if people made better financial decisions.

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I got a 2003 GMC Sierra Denali in 2011 for $16,000 @ 2.75 for 72 months.
really bad deal unless you want to keep that truck for more than a decade.

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I just got a 2013 JKU last month for $29,995 @ 2.35 for 48 months.
you could have purchased at zero percent interest.

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... It's not about getting the lowest payment possible...It's not about getting a short-term loan. It's all about your interest late & how much more you're paying over the minimum payment... people.
Actually, it's a combination of all three plus down payment and all four are very important. Cars depreciate rapidly and unless one keeps their car for a long time, the best and most ideal term for a new Wrangler loan is 36 months with no interest.

Why? Because Wranglers hold their value really well and towards the end of 36 months, it's likely that the loan holder will have a Wrangler that's worth more than what is owed. That's a good position to be in.
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Old 06-23-2013, 11:20 AM   #37
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USAA. Took 10 minutes and the check was in the mail. And I daily drive the jeep. It's in the shop no more than my BMW that I never drive.
Yet my 5 year old jeep is in the shop constantly for something. Lots of factors there. PO wheeled the hell outta my jeep...
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Old 06-23-2013, 11:24 AM   #38
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Originally Posted by n00g7 View Post
Why are people hating on longer term loans?

I have one, the interest is $250/yr. That's literally 1/10th of one paycheck. DGAF.
Im paying 100% interest on my jeep.
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Old 06-23-2013, 12:50 PM   #39
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USAA. Took 10 minutes and the check was in the mail. And I daily drive the jeep. It's in the shop no more than my BMW that I never drive.
Thank you for your or your parent's service but not everyone can get USAA so you're comparing apples to oranges when it come to banks. Glad it works for you but it doesn't for the vast majority of Americans.
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Old 06-23-2013, 01:34 PM   #40
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Yet my 5 year old jeep is in the shop constantly for something. Lots of factors there. PO wheeled the hell outta my jeep...
Mine is no spring chicken, but has fewer things to go wrong that will kick it to the curb.

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Im paying 100% interest on my jeep.
?
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Old 06-23-2013, 01:37 PM   #41
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Mine is no spring chicken, but has fewer things to go wrong that will kick it to the curb.
Nothing will kick my JK to the curb. But yeah, I know what you mean. CAN bus is a load of crap



Quote:
?
Yeah they tried to screw me over but i have a plan to get it paid off in 2 years and not pay most of the interest. I'll also save a ton on repairs because i can do damn near anything myself on the jeep whereas most other cars i cant.

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