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So I hear now is the time to buy a car?
EliteLamer
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I have read about people buying one car and getting one free. All types of crazy stuff. On the radio they have ads saying to go out and buy a car to support local dealerships. However, when I look around online the prices don't really seem all that much cheaper. Clearly not half off...
I have a car that is five years old and my mom said she would get me a new car if I sold this one but since there is nothing wrong with it besides clear coat failure. Really don't feel like getting one unless I can get one of those killer deals I hear about.
Is it just GM cars selling for crazy prices or any car?
I have a car that is five years old and my mom said she would get me a new car if I sold this one but since there is nothing wrong with it besides clear coat failure. Really don't feel like getting one unless I can get one of those killer deals I hear about.
Is it just GM cars selling for crazy prices or any car?
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That makes a lot more sense to me than buying a new car to drive to your prospective job as a fucking ditch digger.
Honestly, every car is a ripoff, especially if you're buying new. I say keep your five years old car. 5 years is nothing.
Moreover, the buy one get one free are for new vehicles and are mostly a dealership "scam" to get you into their office where they will sell you on something else. Unless the conditions are right those types of sales never make sense and never work out. Plus, unless your mom is planning on putting down the entire cost of the car you will still have to get a loan for financing, which given the aforementioned is going to be expensive, or a lease which will be more expensive and most likely invalidate the "buy one get one free" deal.
I am not buying the car. My mom keeps saying she wants to buy me one for my birthday. Also, the paint job would cost way more then what the car is worth. It is an 01.
The paint job might cost more than the car is worth, but it will most certainly not cost more than the $20-30k (or more) you'll spend on a new car which is most likely an SUV as well.
I didn't say that you were buying the car, I said don't let somebody else buy you a car when they could be putting the money toward helping you make ends meet. You have a thread every couple of weeks about how you're in dire straights of some kind or another, so how about instead of letting someone blow $15,000 on buying you a new vehicle (that you seem to be on pace to be living out of soon), you ask her for rent money or college tuition or whatever the fuck you need to get your shit in order.
I want to stress this -- you posted here earlier this week saying you were considering a job as a ditch digger for minimum wage. A new car should not be your priority. At all. Period.
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It is not my priority but I have been turning down the offer for over a year now. I was mostly curios if cars have really been going for half the price but it does not look that way.
I drive an 01 and its worth about $3,000.
It is certainly cheaper to get a paint job. Especially if the car runs well.
Also, you might be confusing buying a car with buying a home now in this economy. Car's haven't really gotten cheaper, but homes are the way to go (but it doesn't look like you are looking to buy a new house).
The truth is, handling your personal finances (like most life choices) has more to do with how you approach things than the specifics of each transaction. I have a friend who got caught up in saving $20 on an airplane ticket by choosing a red-eye instead of a normal-hours flight, when he put off buying the plane ticket for two months in the first place, could've saved $100+ instead.
It seems like you approach things in a similar fashion. Whether or not a car is a "good deal" right now is irrelevant to the overall calculus unless you are in a financial situation which allows you the freedom to make that choice. Namely, that you have enough money on hand, or make enough money regularly and in a secure enough fashion, to afford that car in the first place. Whether or not the money is yours is also somewhat irrelevant, because the money is spent in your name. The truth is, buying a car is a waste of money for almost everyone, particularly if you are looking to purchase a new vehicle and only plan on using it to get to and from places (as opposed to using it to generate business, or as part of your business itself). Anyone who thinks about money in a critical fashion knows this, and treats car purchasing as a luxury. Which means that like any luxury, the money spent on a car is, objectively speaking, never a good deal. Why? Because, based on opportunity cost, it is money better spent elsewhere.
Spending money on a car, even if it isn't yours, means that you can't spend that money somewhere else, on something like improving your education, putting payments on a long-term investment, or buying things that might help you get a job. That's the long and short of it. Any money spent on the car is wasted, particularly in light of the fact that you have a car that gets you where you need to go, and the only issue is that the paint job sucks. In light of the other issuse you have confessed to having, I think a bad paint job is the least of your worries.
So, in other words, spending $5,000 to get a $20,000 vehicle still means you spent $5,000 that you didn't need to spend. At the end of the day, you are still negative $5,000. Also, the value of that "saved" $15,000 is dubious at best because the value of the vehicle will depreciate significantly over time, and will in no way add to your future earning potential or even the overall quality of your life, beyond making you feel marginally better about your car. Which will probably not override the amount of stress, financial hardship, etc. you could've alleviated by putting the money elsewhere. Imagine someone who is dying of thirst in the desert spending $20 on a new Versace purse when he could've bought a glass of water for $2. Yeah, great deal on the purse. Too bad about that water, though.
To end this rather long nag-fest, if you were thinking about everything properly, you would realize that you probably shouldn't even be asking this question. Instead, you should consider how, if your mother is willing to spend a rather large amount of money to help you out, how you can use that money to better your situation in the long-term, rather than just splurging on a car that you don't need. Or, you would be thinking that, hey, it's my mom's money. I'm OK without the new car, she should spend it on herself or try to find better uses for it than wasting it on a new car. Anyone whose parents aren't wealthy, and who doesn't have the wealth themselves to support such a large luxury purchase, should not think it is a good idea to have their parents buy them a new car, because they know that it's just a bad way to spend money. Period.
Tell the man what's he's won, Johnny.
When your last thread titles consist of such gems as "Anyone have to move home over debt?" "Starting the last 2 years of life over." and the aforementioned "How bad could ditch digging be?" you should not be buying a car. Even more so when a little further back in your history we have things like "Living on my own not going so great." and "Getting Foodstamps?"
Move home, get a job, and learn how to manage your money.
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Yes.
Seriously, your mom's $$$ could be better spent getting you out of debt than buying you a new car because the paint is coming off your current ride.
Look at everyone else's situation. People are threatening the lives of the AIG people who received bonuses because of how cold and callous it seems. You're complaining about potentially having to work as a ditch digger, but you have the gall to ask for a new car or to receive one because the paint on your other one is chipping? Suck it up man. If the only problem your car has is aesthetic then you're doing JUST fine. Don't be that selfish man.
I have never once asked for another car. It is offered to me whenever I go home...
Lets even assume that a brand new car fell into your lap. Can you afford the registration and insurance? Can you afford maintenance? Can you afford gas? Buying a car is about more than walking into a dealership and leaving with a car.
You can't even afford things like rent. A car should be about 23482th on your list of things to buy.
I think I can get the debt as they have been increasing my hours at work. Plus I have been living at home, still paying rent but since I am not paying for food anymore and staying on here all day
Also, www.mint.com has helped a ton in the short time I have had it. It showed me how much money was wasted on eating out and overdrafts. Also, I have low balance texts set up. Auto pay is set up so no more late fees on that.
Not only that I am starting college in state again in aug. I might as well finish the last term and if I can't go to a decent college with my transcript then I will consider going out of state. I also start collecting scholar ship money in Aug.
Anyways as pointed out by others the only good deals are on fucking trucks so screw it.