/biz/ - Business & Finance

>>53088146
Cringe but redpilled.

>>53088146
I want to fart in that man's throat.

>>53088146
I wouldn't buy a new vehicle if I had ten million. Fell for that shit when I was in my twenties. I lost more money than you idiots buying shitcoins.

You shouldn't buy a car if you can't buy it outright and it's more than 5% of your networth.

I bought one second hand and this shit is ruining me

The only thing this shit is worth for is to be a taxi driver for girls. If you don't own a car you are pretty much non existant

20 year old kid that lives across the street from me bought a brand new 70k truck, he makes 20 dollars an hour, seems like he's going to be paying for a long time

>>53088146
what if you buy it outright in cash?

>>53088431
No.
https://youtu.be/ctzMbYLS3zs?t=104

>>53088146
I have over a million net worth (barely) and I still drive shitboxes. 01 expedition for inna woods and towing trailers, 07 civic for everything else.

>>53088410
>be me
>29
>virgin
>no car
>lots of cash in hand
>have a successful ebay shop 5k in the last 90 days all time high
>learning about the money magic
>finally get a credit card and build up credit score
>get entrusted to admin a toy store's discord
>get a wholesale deal for anime coomer waifu action figures

>>53088146
I don't even have a licence (i can drive tho). Fuck cars, be my personal taxi bitch

>>53088146
Paid off $16,500 and will forever be debt free thanks to Dave's plan. Read Dave's book Total Money Makeover if you're in paycheck-to-paycheck Hell - it's the Red Pill for money,.

>>53088425
He's going to be paying for that for about 5 years, assuming he has no bills ofc. Also that tard better be getting educated in a field that will pay him good

>>53088146
I got a used Camry as my first car and its the best financial decision I ever made, nothing done to it other then fluid and filters and windscreen wiper rubbers in 7 years.

Got 100k and been thinking about dropping 25k for a Corolla hybrid new since it'll probably last a long time. Am I retarded?

>>53088697
>NOOOOOO YOU CAN'T BUY A RELIABLE NEW TRANSPORTATION TOOL BECAUSE YOU'RE NOT A MILLIONAIRE. GO BUY A USED SHITBOX THAT YOU HAVE TO DROP THOUSANDS OF DOLLARS INTO REPAIRS

>>53088425
>seems like he's going to be paying for a long time
He's gonna pay it for the length of his loan. If the terms are 5 years he'll pay it off in 5 years
It's the payments that will be crazy , not the length of the loan

>>53088431
If you'd made a million you'd know the value of money and wouldn't piss it up the wall on a deprecating asset like a new car.

>>53088146
Dave Ramsey tends to get annoying but people have more and more been programmed into becoming hyper consumers. Social media is not helping the matter either.

Stop being poor minded. Read good books daily. Highly limit your time in front of any screen. Eat out twice a month only. Don't let your belly cause you to hemorrage money. Put a good down payment on a house and hold on to that baby... pay it off in 10 years.

Don't be a slave to all the substances (caffeine, nicotine, alcohol, meth, vapes).
Get married abd stay married or be single and don't let the other person weaken your finances. Forget all them dogs.

Basic crap. You already know what you gotta do but you keep running to the world to justify or not clown you for your foolish choices.

>>53088732
>tool
And that's all it is. It's just a tool to get you from point to point. It doesn't have to be a BMW or Mercedes or a massive truck does it because it's just a tool. So yeah, technically you're correct if you buy a brand new little Kia or something with a really good warranty package and keep it for 7 years I suppose it could make sense to buy new.

>>53088146
>>53088193
>>53088530
>>53088732
>Buy unreliable shit box
>Break down constantly at the worst possible time
>Working in the rain/cold/sweltering heat by the side of the road with a flashlight in the middle of the night in a shit area trying to figure out why your shitbox broke again
I had many a shitbox when I was younger. I replaced a vehicle when repair costs become car payments. These days it comes down to opportunity cost.

>>53088662
What year? The legendary Camrys stopped being made like 15 years ago.

This is gay boomer advice. Benefits of buying new:
Warranty
Cheap servicing
Free roadside
Mechanical peace of mind
No risk of buying a lemon
Feel like a boss

It’s a boomer meme. Just don’t buy luxury brands and you’re ok. Are you telling me the difference between you making it or not is a few thousand dollars?

>>53088867
Try telling that to king boomer and this retard >>53088841 who thinks cars should be viewed as assets

Literally have an 8 year old honda civic with 65k miles so far that runs fine. Will ride this baby out as long as I can

>>53088146
He is not wrong. Don't pay a lot of money for depreciating assets.The only expensive thing you should pay for is rent/housing and food. Everything else should be under 100 dollars.

>>53088902
2011

>>53088924
>Paying a premium to breathe VOCs

Enjoy cancer

>>53088146
New vehicles aren't a bad investment if you actually take care of them and intend on owning it for the next 10 years. really not that bad.

Vehicles are an expensive luxury not an investment. People look at vehicles like investments but it should really be considered a consumable.

>>53088819
as if people don't just extend the term to 96 months and soon beyond

Why would I buy some expensive used car with a 90 day warranty?

Dave told me but to buy Bitcoin when it was less than a dollar. Thanks Dave!

>>53088304
You had ten million dollars?

>>53088481
Me in a lot of ways 29 had sex, dumped all gfs to focus on myself, started a farm, perfecting my craft farmers markets in 3 months

Shit is cash ngl

>>53088852
>Forget all them dogs.
I would rather die than get rid of my dogs and cats. They're the only good part of this shitty world

>>53089141
This and that little fag zoomer could have saved a bunch of money up.
>No car
>Live at home
Waaha bro how do you save up so much money?

>>53088732
kek

>>53088938
>asset
It can be liquidated so it very much is an asset. A massively depreciating asset but an asset all the same. Think shitcoins with tyres and a steering wheel.

>>53088550
5 years? Lol. 96 month terms are common now

>t. Salesman

One time Boomer Ramsey told a caller to sell his underwater car now because he couldn't afford the payments, and then 60 seconds later he told the guy to pick up a second job driving for Uber.

Ramsey didn't get rich before writing his bullshit into books. His "borrower is servant to the lender" bullshit kept an entire generation of the people dumb enough to listen to him from buying real estate at all-time interest rate and down payment lows. He's scum and should be ignored.

>>53088938
>>53089437
>2022
>Car flipping
Just enjoy the clown market while it lasts.

>>53088146
So I shouldn't even buy a new Mitsubishi Mirage ES all cash with a $500k net worth?

>>53089456
Pretty sure this faggot went bankrupt twice. His parents set him up with his real estate hustle and he enjoyed historically low interest rates like every other faggot boomer.

>>53088146
Thanks Dave, I also want to reiterate thats 1 million in cold hard cash, not funny money.
Even then once I hit 1 million a little something for the missus and charity comes first.

>>53088146
he's not wrong tbqh

>>53089551
Is he one of those idiots that gives 10% of his whole income to the church? If so all financial advice from him is invalid.

Thanks to the recent supply chain issues cars with < 40,000 miles were selling from dealerships almost as much as the cost of a new car, cars with < 20,000 miles were the cost of a new car. New cars were being priced just above MSRP BUT not that much; anywhere from 1-5,000 over MSRP.
Of course this means purchasing a new car at this time would be the wisest option- why purchase a 2020 Camry with 30,000 miles for 29,000 dollars when you can buy a new Camry with < 500 miles for 34,000 dollars, and before the rate hike finding a < 2% APR was easy.
Ramsey is smart, but dogmatically following his advice without critical thinking is stupid.

>>53088146
Does this trard ever think about anything before he says it or is he like most boomers and just talks out of his ass all the time?

>>53088146

Jokes on you faggot. I live in my Mercedes.

rammy is retarded in almost everything but he's right about this one. a new car will tank ur debt to income ratio

>>53088425
I know a guy that does Uber Eats deliveries and drives a brand new Prius. He’s homeless too and lives in it. I follow him on YT and he seems content doing deliveries but I would have a heart attack in his position.

>>53088852
Time is your most valuable resource. Cooking is for fags and women. Eat out often and eat simple foods (not processed shit). Meal prepping is a waste of time generally and will lower your social status more than the additional amount you spend on food. Good luck getting promoted.

Im terms of paying down debt, it's always retarded. Stack cash or deploy money into high return investments when they present themselves.

>>53089371
They are money/time/emotional pits. You and I both know this.
>But muh companionship
Get friends and or a hobby

>>53088146
He is absolutely right.

>>53088966
This is genius tier, a honda/toyota, many years old, ultra reliable and cheap ready available parts if something does break.

>>53089970
cooking can be done while doing other shit

you disgusting goy

>>53090081
Negative.
Lets assume you are in the market for a Toyota Corolla.
Now your options are either
A. A new Toyota Corolla costs MSRP 20,000 starting
B. A used Toyota Corolla with 150,000 miles costing 5,000
Now the used Corolla has approximately, if in “good condition”, another 50,000 miles on it. So essentially you’ll have to purchase 4 used Toyota Corollas at this level of use meet the demands of 200,000 miles. This equates to the cost of the purchase of 1 new Corolla and it reaching 200,000 miles.

The value is negligible. The only extra expenses for the new Corolla is the interest (which is usually low for a vehicle), meanwhile the used Corollas have greater wear and tear, requiring maintenance earlier and far more often.

Ramsey is an
I D I O T.

>>53090348
Your used car market must be much more expensive then mine. Anyway there are other costs associated with a new car like higher insurance, also dealer servicing which is required at set intervals in order to keep your warranty (ie. $250 dollars for an oil change).
In my experience if you buy used especially if you let family and friends know your looking for a car you can find a better deal then is advertised online as used dealers inflate prices and private sellers advertising online usually closely match those prices. Also if your willing to learn a used Toyota is a fantastic car to work on yourself and save even more.