Help formby make a buying decision

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i guess i'm looking for a better car and the better credit i'll have after i pay for most of it.. for a nicer house
this is what i'm looking for
4cyl
easy to work on
2000-2004
1.8+
DOHC
10-15k
2dr if NA
must be FI if 4dr [unless its a tsx]

what to do?
 
i know they are kinda ugly but what about an 01 civic si. comes with a k and it should be a little cheaper than buying a brand new si

ignore me i just looked at the link, i guess my vote goes to getting the car then the house.
 
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Rent on a 450k house has got to be killing you. If you want to break free of this crap you need to rent a super cheap place. Dont move into the ghetto, but get out of that 450k house. Get the altima as presentable as you can and sell it. Tell your mom to buy her own car. Sell the montero. Keep the 99 honda and leave it alone, it'll last forever.

Buy another decent honda. If you need a small SUV, get a CRV or something. Quit treating the K series as a "NEED" you dont need it. you WANT it. this need thing is going to cost you thousands of dollars. DO NOT go buy a new car, or a $15k car for that matter. Scrape together whatever cash you can. Look at that amount and find a car that you can pay cash for. no payments. take liability on it. You've just saved yourself a car payment and hefty insurance premiums. Now start paying off whatever debt you have left, if any. such as credit cards blah blah.. get that off of you.

Now look at your situation:
2 cars. not 3. less insurance and upkeep.
I dont know your situation on the 99, but the "new" car is paid for, in cash.
Living cheaper than before.
Now you have the uncanny ability to start cramming cash into a savings account. Cram cram cram.. work extra hours, get so much comission your bosses get nervous when handing you your paycheck.

Then, when you have a hefty ass down payment, go get you a house. But ONLY pay cash for cars from here on out. If you cant pay cash for it, you dont deserve it.
 
phyregod said:
If you want to break free of this crap you need to rent a super cheap place.
Get the altima as presentable as you can and sell it.
Tell your mom to buy her own car.
Sell the montero.
Keep the 99 honda and leave it alone, it'll last forever.

Buy another decent honda.
you dont need it. you WANT it.
this need thing is going to cost you thousands of dollars.
DO NOT go buy a new car, or a $15k car for that matter.

Scrape together whatever cash you can. Look at that amount and find a car that you can pay cash for.
no payments. take liability on it.

You've just saved yourself a car payment and hefty insurance premiums.

Now start paying off whatever debt you have left, if any. such as credit cards blah blah.. get that off of you.

Living cheaper than before.


Now you have the uncanny ability to start cramming cash into a savings account. Cram cram cram.. work extra hours, get so much comission your bosses get nervous when handing you your paycheck.

If you cant pay cash for it, you dont deserve it.
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I've highlighted everything in there that everyone needs to burn on the inside of their eyelids. This is great advice.

This fits in better with 99% of us than any other advice given on this forum. Pay attention to a few things:

The high ticket items are nice to have. But when you have them, you will have less cold cash that you need to move forward in life. Get a Chevette if you can. Status is what kills us all.
 
It does. Without that need for an M, the winter car that did you no good (at least you got your money back, I guess) and all the TVs and interior decorators you would have about $55k in the bank right no, earmarked for .. nothing.

Then you can play in markets big time. Take a week off of work and make that $55k into $400k over 4 months.
 
i'm getting owned in the market right now. if i dumped 55k into it, i'd probably be hanging myself right now.
 
What are you doing that's so bad ?

Banking is tops for opportunity now, you've got your gold investments, Mobil is about to break last year's records..

come on !
 
holy hell. What's your portfolio spread over ?
 
i'm reading all this
just been to busy to realy reply....


going out now... ill reply to all tommorrow...
 
Mutual funds FTW.

Let other, highly trained people pick your stock for you. This is what they do for a living, they are specialists. If they dont perform WELL, they get fired. The companies dont perform well, they get sold off.

Leave your money in a mutual fund for 5 years. 97% of them show profit after 5 years. 100% of mutual funds show profit after 10 years. Get a mutual fund that is more than 5 years old, 10 preferrably. Check their track record. If you can, find one thats went through the depression. That company can handle chrisis. Stay away from brand new mutual funds.

Diversify.
25% growth and income
25% growth
25% agressive growth
25% international

DONT buy single stocks in companies. Unless you have a few hundred grand to toss here and there. Its silly to take on that kind of risk for so little pay. There are mutual funds around that have been kicking back 14-15% interest every year for 20 years running. Hell, there are several that have been kicking back 30+% for the past 5 years running.
 
Rent on a 450k house has got to be killing you. If you want to break free of this crap you need to rent a super cheap place. Dont move into the ghetto, but get out of that 450k house. Get the altima as presentable as you can and sell it. Tell your mom to buy her own car. Sell the montero. Keep the 99 honda and leave it alone, it'll last forever.
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we pay 1.6k in rent and i divide that by 3 because my mom wife and i live together [their idea and my mom is the coolest.] so my part is $533+ a third of all the utilities

Buy another decent honda. If you need a small SUV, get a CRV or something. Quit treating the K series as a "NEED" you dont need it. you WANT it. this need thing is going to cost you thousands of dollars. DO NOT go buy a new car, or a $15k car for that matter. Scrape together whatever cash you can. Look at that amount and find a car that you can pay cash for. no payments. take liability on it. You've just saved yourself a car payment and hefty insurance premiums. Now start paying off whatever debt you have left, if any. such as credit cards blah blah.. get that off of you.
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i dont have much dept just a personal loan that my wife and i split the $181 dues.. and no credit cards.

you're right i dont need a k but a platform with one is cheaper that one built; also if i buy a used car who's to say that it wont have problems a month later. i dont want to spend money at an auto parts store anymore. [better safe than sorry]


in addition the montero is my moms i just help her with it... but as soon as i buy a newer car she will pay all of the monteros bill


Also, I'd recommend waiting until the housing market bottoms out before buying. It's a buyer's market right now and it's only going to get better...for buyers. Something else to consider is that when you rent, your landlord takes care of everything or is financially liable for repairs. When you own, you take care of everything and are financially liable for repairs. If you want maximum value, buy a house that needs work. Spend a month or two and few grand fixing the house to save yourself tens of thousands on the buy price. Plus, as an added bonus, you get to customize your house to the way you want it and it's a great bonding experience for a couple...cheesy as that last part sounds.
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that my reasoning for a newer car

in the 5 yrs that i'll have made perfect payments on this loan ill have so much better credit that i could get a better house.

He uh, meant Wall Street stock for BMW.
tongue.gif


And they aren't much more than a Honda if you can do the work yourself. If you can't, they're expensive to own.
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lol thanks

UPDATE

i went looking for a nice car today
and i found a [certified] 2006 civic ex 2dr w/navi [not si], with 9k miles and an out the door price of $17.5k [and they "gave me" 1.5k for the altima as a trade]{coggin honda}

also a 2004 corola S with 35k for 15.2k out the door...[carmax]

car max offered me $500 for the altima


this will be financed through my credit union.. i'm dropping of both purchase orders on mon 4/2... lets see what happens [one of the two]
 
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pissedoffsol said:
i'm getting owned in the market right now. if i dumped 55k into it, i'd probably be hanging myself right now.
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Again trigger happy, that's normal.

up down up down up down.

Unless your buying penny stocks and day trading, don't plan on seeing any major gains in only a few weeks.


unless you own my MFW

sucka!
 
Quote:
Originally Posted by formby
we pay 1.6k in rent and i divide that by 3 because my mom wife and i live together [their idea and my mom is the coolest.] so my part is $533+ a third of all the utilities

That's silly. Why do you and your wife look at it as seperate expenditures? What's yours is hers and what's hers is yours. That's an important mindset.
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not for everything just the rent. she's never had a place of her own and i want her to have an understanding of what bills are.... [she's my queen anything she wants she gets as long as i can afford it]


Quote: blanco
I have an easier, faster, and significantly less expensive way. Get a credit card, buy something small and pay the balance off immediately. Do that a few times and keep a $0.00 balance and you'll be on your way to great credit in no time. You can also open up a finance account at a jewelry store and buy small $100 items. Many other stores have in-house finance options like this. Hell, buy your lower priced car with a loan from your bank and consistantly make higher payments and pay the 3-5 year loan off in a year.
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good point



UPDATE

i went this morning to the bank... my dept ratio is @53% which is 3% over what they want....

7.25apr
68 or72months
they want anothe 1k down on top of what coggin gave me for the altima 1.5k

payments in the $300+/- 10

and my insurance premium will go up by 688 in six months... but i turn 25 in 9 days and alot of violations come of my record

discuss
 
if you need more than 5 years, wait and save.
anything more than 60 months on a car loan is rediculous.

i mean, how many here have owned a car more than 5 years? i know i havent.
 
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