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Old 11-02-2019, 01:24 AM   #161
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LBYM - Debt to Gross Income Ratios:
Housing <= 28%
All Debt <= 36%

When borrowing money to buy anything, 20% down payment min. If you canít afford that, they you probably should not get it (LBYM).
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Old 11-02-2019, 10:04 AM   #162
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They are dopes.

It all comes down to choices. Forget about this nonsense about these unfortunates. Bottom line...they did not have to buy a new car, they did not have to buy the car that they did. They made their choice. They placed wants ahead of needs and affordability.

A person who borrows/finances more than the price of their quickly depreciating asset gets no sympathy from me. No matter what the interest rate. You cannot fix stupid.
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Old 11-02-2019, 10:43 AM   #163
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Originally Posted by brett View Post
You cannot fix stupid.
But I want need it!
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Old 11-02-2019, 10:50 AM   #164
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I was all over Carmax, Carfax, Carguru searching used cars...all in the last couple of months. Went from 2012, 2015, 2018 looking for that sweetheart deal. The under 50K mileage. They show you the interior, under the hood, the trunk space. Then, both DH/me realized a used 2017 was only a couple $K less than a new. I mean out the door price.

So we bought a new 2019, fully loaded, took the loan out for the full price b/c dealer took an extra $1K off the price, so total $4K rebate. Within 6 days of purchase, I paid $21K to the dealer finance co. I'll end up paying @ $50 for the financing b/c I'll pay it off in 3 months. Total for the car was $22, 444.

What did you buy for $22k otd?
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Old 11-07-2019, 08:58 AM   #165
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What did you buy for $22k otd?
Hyundai Sonata SEL, 2019 (new).
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