11-14-2017, 07:15 PM
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#1 (permalink)
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(:
Join Date: Jan 2008
Location: up north
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6.3M Duhmericans late on their vehicle payments
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 Today
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11-14-2017, 09:54 PM
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#2 (permalink)
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Corporate imperialist
Join Date: Jul 2011
Location: NewMexico (USA)
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Never had a vehicle that I had to barrow money to buy.
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1984 chevy suburban, custom made 6.5L diesel turbocharged with a Garrett T76 and Holset HE351VE, 22:1 compression 13psi of intercooled boost.
1989 firebird mostly stock. Aside from the 6-speed manual trans, corvette gen 5 front brakes, 1LE drive shaft, 4th Gen disc brake fbody rear end.
2011 leaf SL, white, portable 240v CHAdeMO, trailer hitch, new batt as of 2014.
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11-14-2017, 10:42 PM
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#3 (permalink)
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It's all about Diesel
Join Date: Oct 2012
Location: Porto Alegre, Rio Grande do Sul, Brazil
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Seems like the same problem we see here in Brazil, when certain folks get a car much more expensive that they could comfortably afford the monthly payments just to show-off. Well, I've already met some people who are actually rich but daily-drive simpler beaters that are fully paid-off and less expensive overall to keep running.
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11-14-2017, 11:53 PM
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#4 (permalink)
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Master EcoModder
Join Date: Jun 2008
Location: Earth
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Quote:
Originally Posted by oil pan 4
Never had a vehicle that I had to barrow money to buy.
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I did once, back in the late '70s (though to be fair it was a work truck). Learned my lesson first time around.
Nowadays all 3 vehicles weren't even half that average car loan. Heck, not even if you add in the horse :-) |
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11-15-2017, 03:18 AM
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#5 (permalink)
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Master EcoModder
Join Date: Sep 2012
Location: Victoria, BC
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I might be nearing $30k on all the vehicles I've ever owned in the past 20 years...could have done it cheaper, if I didn't get bored of 'em after 6 months.
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11-15-2017, 05:14 AM
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#6 (permalink)
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Furry Furfag
Join Date: Nov 2013
Location: Apple Valley
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That's crazy. I have borrowed money for one car, my Miata. And I only borrowed the money for 24 hours from my little brother because my insurance payoff check was pending in my bank account. I hate owing money to anyone. And I hate paying interest even more.
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11-15-2017, 11:47 AM
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#7 (permalink)
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Rat Racer
Join Date: May 2011
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Quote:
Originally Posted by oil pan 4
Never had a vehicle that I had to barrow money to buy.
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Quote:
Originally Posted by sheepdog44
Transmission type Efficiency
Manual neutral engine off.100% @∞MPG <----- Fun Fact.
Manual 1:1 gear ratio .......98%
CVT belt ............................88%
Automatic .........................86%
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11-15-2017, 05:02 PM
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#8 (permalink)
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Master EcoModder
Join Date: May 2012
Location: Tampa, FL
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We only owe on one car right now, it's our third car loan with only a few years left on it. From now on I think I will be buying cheaper cars, maybe find ones that have more miles and nobody wants.
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11-15-2017, 05:10 PM
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#9 (permalink)
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Administrator
Join Date: Dec 2007
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I do the opposite. I tend to go with older cars, but find them with low miles.
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11-15-2017, 09:42 PM
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#10 (permalink)
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Just cruisin’ along
Join Date: Jul 2009
Location: Rochester, NY
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Payments aren't great, but they aren't bad if you don't get tempted by the flash and dash.
Good credit helps too.
They lowered my payments by $20 a few weeks after buying my wife's van. The explanation was vague but apparently it was related to a revision of my risk assessment.
Also I don't feel that very many people actually realize anymore what maintenance and repairs run. Just because you can afford the car, doesn't mean you can afford the car. A $15k BMW is a very different animal from a $15k Accord.
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'97 Honda Civic DX Coupe 5MT - dead 2/23
'00 Echo - dead 2/17
'14 Chrysler Town + Country - My DD, for now
'67 Mustang Convertible - gone 1/17
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