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Old 11-08-2020, 11:41 AM   #11 (permalink)
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My friend's sister has an F250 for her five kids. I am confident that she uses it for work as a dental assistant.

I recall her struggling to pay her bills, though. That must be independent of the car payments equal to a mortgage.

Wait, hold up, really?

$50,000 at 5.27% for 84 months = $713

So, absolutely, for all of the people with new trucks and live in mobile homes.

How often do people trade-in vehicles before they pay off the loan?

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Old 11-08-2020, 12:17 PM   #12 (permalink)
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Since refinancing old car remaining balances on new car purchases is a "thing", I would say this is becoming a norm.
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Old 11-08-2020, 03:49 PM   #13 (permalink)
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Quote:
Originally Posted by Xist View Post
My friend's sister has an F250 for her five kids. I am confident that she uses it for work as a dental assistant.
Most likely a Transit Connect would serve her better and, even though it may be quite expensive proportionally to its size and the loading capacity of the F-250 for all those ghost bags and pulling power for a ghost trailer clearly has its appeal, sure the lower fuel consumption would make it easier to pay it off. Unless she could get one of those Indian or That tuk-tuks for an even lower fuel bill


Quote:
I recall her struggling to pay her bills, though. That must be independent of the car payments equal to a mortgage.
Even though a truck purchase is often pointed out to be convenient for both the manufacturers who do essentially the same as they did some 110 years ago, considering a truck is the closest to the basic layout of a Ford Model T with the body-on-frame RWD with a solid rear axle, and buyers who either do it for a self-indulgence or are convinced they could get a tax break, in the end it's still too expensive for most users to actually justify.


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So, absolutely, for all of the people with new trucks and live in mobile homes.
I must confess, if I had a parcel of land where I could install some "mobile" prefabricated home with a carport right beside it, I would consider it, and a truck if I had something to actually do with it, yet I would most likely consider a mid-size instead of full-size.
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Old 11-08-2020, 06:06 PM   #14 (permalink)
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I wouldn't know I have never had a car that required more than 1 payment.
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Old 11-08-2020, 08:52 PM   #15 (permalink)
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There are a lot of people out there trying to compensate for something.

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Old 11-08-2020, 10:14 PM   #16 (permalink)
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Yeah my wife says I got a leaf because I'm compensating for something.
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Old 11-09-2020, 12:39 AM   #17 (permalink)
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Dad sold me his 2003 Focus with 250,000 miles when I hit an elk in 2007. I was supposed to make payments, but didn't have stable work until I joined the Army in 2008.

I think that I made double payments once I shipped out.

He didn't charge interest.

I received a $30,000 sign-on bonus. The first installment paid off my credit cards. I used to periodically wonder where the rest went, but I don't know that I could figure it out again. I do remember paying down my student loans by $14,000 (and paying $7,000 in interest, since nobody told me about Active Duty deferment).

$3,000 for a car that I didn't have anymore.
$7,000 for stuff that I bought with my credit card that I didn't have anymore (I probably paid bills, like repairs for other cars that I didn't have anymore).
$14,000 in student loans (while accruing $7,000 in interest superfluously)

Due to taxes I actually received $25,000, so 96% of my bonus paid off my personal debt.
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Old 11-13-2020, 12:41 AM   #18 (permalink)
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Quote:
Originally Posted by oil pan 4 View Post
I have never had a car that required more than 1 payment.
I'd much rather pick a car which I would have to deal with minor issues pending a fix that could be done one step at a time, instead of having a debt and paying interest. At least it would most likely allow me to plan ahead all of the pending repairs, or to do some makeshift at a lower expense (as long as it's not unsafe).
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Old 11-13-2020, 01:35 AM   #19 (permalink)
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Quote:
Yeah my wife says I got a leaf because I'm compensating for something.
Excessive flatulence?
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Old 11-14-2020, 08:01 AM   #20 (permalink)
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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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