Bullitt Mustang - $50k - How the Duck do people afford crap?
- Thread starter Corbic
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A lot people are leasing cars to keep the payments and property taxes down. If you live in CT the property taxes are very high for a new car/truck. I pay $1,500 per year for my Hellcat for a car i only use 6-8 months a year. My Hellcat is only worth $45,000 and i still pay $1,500.00 per year ridiculous!
No way. I summer in the cape/islands and Newport RI the home of yuppie sailing life. Yeah you’ll see a lot of people dressed that way but to say 99/100 I would argue less than 10/100. Those dressed that way are just trying to look the part.
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I understand your pain. I owned my Volvo for 2 months before I moved out of CT. I mailed my plates back, got a bill a month later for $350. For two months!!
That, and stupid Malloy's retroactive '11 tax bill. Stupid Dannel.
Not a fan of the rising interest rates along with the rising costs of cars, but w/e.
I'm sure a lot live beyond their means. Hell, I could of made better decisions in my 20's. Luckily, nothing bad happened when I was stretched thinner than I liked and the pay went up.
As much as I like fast cars, it's getting tougher for me to drop 40+k on a two seater with or without a back seat that can fit midgets.
It's easier for me to drop 40k+ on a truck, that can seat 5+, tow 10k+ etc.
I'm sure a lot live beyond their means. Hell, I could of made better decisions in my 20's. Luckily, nothing bad happened when I was stretched thinner than I liked and the pay went up.
As much as I like fast cars, it's getting tougher for me to drop 40+k on a two seater with or without a back seat that can fit midgets.
It's easier for me to drop 40k+ on a truck, that can seat 5+, tow 10k+ etc.
Having debt as an investment (investment property) is okay, but I have an (new) aversion to car payments. Hence, my recent desire to buy another Fiesta ST, vice a $50K Jeep.
I sort of agree. But I think you're forgetting there's a boat load of couples out there without kids.
We are getting married in September. Between the two of us, about 100k in income. We have a reasonable chunk left over after all of the bills are paid. House + insurance + car payments + student loans + everything else.
Once our cars are paid off and one of our student loans are paid off, we may go pickup the new S60 Volvo that just debuted as a baby wagon. But otherwise I'm done with car payments. They can keep the 50k dollar trucks. I don't need them
We are getting married in September. Between the two of us, about 100k in income. We have a reasonable chunk left over after all of the bills are paid. House + insurance + car payments + student loans + everything else.
Once our cars are paid off and one of our student loans are paid off, we may go pickup the new S60 Volvo that just debuted as a baby wagon. But otherwise I'm done with car payments. They can keep the 50k dollar trucks. I don't need them
This...
Blows me away.
I have friends from highschool who don't even know what SSA is..or even how to check their balance.
If you even mentiones 401k to them, they'd laugh at you and look confused.
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Our last new car was her '13 Explorer Sport that we just finished paying off. Even though we make great money together, she already knows we will never be spending money like that on a new car ever again. Worst financial decision ever as now it is worth less than half of what we paid for it and it only has 55K miles.
It's only a bad decision if you get rid of it now.
Dual income families perhaps. I'd be happy to only have $2k a month mortgage.
Maybe I'm bad at math, but, how are 50K cars $1,000+ per month?
The ONLY way I can see that is if the person has a three year loan or they have a 20%+ interest rate and a short term loan.
Otherwise, a 50K car is NOT a $1,000 a month payment.
The ONLY way I can see that is if the person has a three year loan or they have a 20%+ interest rate and a short term loan.
Otherwise, a 50K car is NOT a $1,000 a month payment.
Cars.com calculator fwiw:
$50,000 car
6% sales tax
4.25% Interest rate
60 month loan
=$982.07 note.
Leasing a vehicle is a ridiculous idea. You are throwing money away. There is no advantage that benefits the " long term renter".
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One more reason I enjoy my old GT. I would rather have an older toy that is paid for, and a reliable truck to drive daily.
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Standard rates, that makes sense.
I agree. I don't like leasing either, but if someone buys a truck for $50,000 you are going to pay $1,500 per year in taxes for a long time. It really sucks and over 50k you pay a luxary tax as well. When you lease you are only paying property tax on the portion of the car you are leasing. I bought my Hellcat and a leased my Charger. My son just got a tax bill for $380.00 for his 2009 F150 with 140,000 milage on the clock.
Exactly. I've had my current truck for 15 years, and just ordered a new one.
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