Author Topic: How much "car" would you buy?  (Read 11795 times)

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Offline gypsyuma_IHB

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« Reply #30 on: November 18, 2009, 12:49:59 PM »
Nude.... I am just teasing.  I enjoyed your "putting up with the farts" oration as much as the next woman.  Cars just aren't my thing.

   

   Now my husband did get me a day at the spa for a gift a few months back....... oh it was pure decadence for an entire day.  And it only put him (and me) out a measely $500 buckaroos.

   

   

   

   Sidenote:  How the heck do you spell "MEEZLEY"  "MEASLEY"??????......shrugs shoulders.

Offline Nude_IHB

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« Reply #31 on: November 18, 2009, 01:11:00 PM »
Quote from: "gypsyuma" date=1258606199
Sidenote:  How the heck do you spell "MEEZLEY"  "MEASLEY"??????......shrugs shoulders.

   

   Firefox's spellchecker says "Measly"

Offline Nude_IHB

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« Reply #32 on: November 18, 2009, 01:26:54 PM »
Quote from: "gypsyuma" date=1258605807
Well its a relief you think we women know how to add.  Of course, the safety net is in place because Big Daddy only put enough in the checking account that he deems "appropriate".  Awwwwww...... [big pouty lip sticking out.]

   

   I know it sounds condescending, but clearly she's not in charge of the finances so I tailored my advice to meet the OP's scenario. If she tells him "I want a Infiniti G37 Convertible Sport", he can check the Infiniti website and see he's going to need ~$60k in the checking account to cover it. If she's odd like my wife, she demand a PT Cruiser in a pretty blue... meaning he'll only need half that amount.

   

   Either way, the point was to know in advance so he could just write the check after doing his homework, making the whole experience more about her than about money ;)

Offline Perspective_IHB

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« Reply #33 on: November 18, 2009, 05:45:03 PM »
I found the "50-30-20 Rule" from Liz on MSN (personal finance columnist). Using your net income, spend:

   

   50% on Must Haves (housing, insurance, food, etc.)

   30% on Wants (cars, dining out, entertainment, etc.)

   20% on Savings and/or Accelerated Debt Reduction

   

   These ratios may work for median household income earners (who have to finance car purchases), but once your income is high (high enough for Obama to consider you "rich"), then 30% on Wants sounds excessive.  If you earn a healthy income, I think you should be saving 30%+ because you're not guaranteed that income for the next 30 years.  As a professional, with degrees, you can make certain assumptions, I guess.

Offline USCTrojanCPA_IHB

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« Reply #34 on: November 18, 2009, 05:47:50 PM »
Quote from: "irvine_home_owner" date=1258602005
That question was for those that finance.

   

   I would actually do a 0% finance over a lease... but if I'm going to pay interest I might as well lease.

   

   I'm not really one who likes to put $30k into something at one time... especially into something that's going to lose at least $5k in value as soon as I sign the paperwork.

   

   And what kind of truck did you get brand new in 1985 for 6k? I don't remember many cars that sold for less than $10k back then.

   That's why it is always best to buy a 1-2 year old car with low miles.  You'll be able to get the car for 20-30% off the price you'd have to pay to buy it new.  The key is to make sure the car is in good shape.

Offline gypsyuma_IHB

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« Reply #35 on: November 18, 2009, 07:29:14 PM »
Quote from: "Nude" date=1258608414
Quote from: "gypsyuma" date=1258605807
Well its a relief you think we women know how to add.  Of course, the safety net is in place because Big Daddy only put enough in the checking account that he deems "appropriate".  Awwwwww...... [big pouty lip sticking out.]

   

   I know it sounds condescending, but clearly she's not in charge of the finances so I tailored my advice to meet the OP's scenario. If she tells him "I want a Infiniti G37 Convertible Sport", he can check the Infiniti website and see he's going to need ~$60k in the checking account to cover it. If she's odd like my wife, she demand a PT Cruiser in a pretty blue... meaning he'll only need half that amount.

   

   Either way, the point was to know in advance so he could just write the check after doing his homework, making the whole experience more about her than about money ;)

   

   No, it's fine.  I just happen to wear the (financial) pants in this family.  But that is not always the case.

Offline awgee_IHB

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« Reply #36 on: November 18, 2009, 07:59:15 PM »
If you have the cash, buy her what she wants.

   If you do not have the cash, buy what you can afford with cash.

   Debt is slavery.

Offline bltserv_IHB

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« Reply #37 on: November 18, 2009, 08:20:00 PM »
Awgee.

   

   True words of wizdom.

   A Woman you love and an expensive car are like gambling.

   Bet what you can afford to lose.

   Then have a really good time doing it.

Offline gypsyuma_IHB

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« Reply #38 on: November 19, 2009, 03:04:46 PM »
I agree about debt.  I used to do some bankruptcy work, and the nonsense I saw..... not all, but alot of nonsense.

   

   I also have seen alot of people come up in the world, but then they spend their money just as fast as they get it, like it is burning a hole in their pocket.

   

   I will pass on all that.

   

   What is really messed up is how I pay cash for everything and have zero debt, and that actually brings my credit score down.  Punish the responsible ones?

Offline muzie_IHB

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« Reply #39 on: December 04, 2009, 09:21:41 PM »
Depends, do you allocate to the car based on income, or based on assets? I bought my car cash and it's about 6% of my net worth. <=5% would be better, car depreciation should even that out :-).

   

   Depends on your personality type. I save 50% of my income every year as that fits my long-term goals and I'd rather commit cash than future income streams.

 

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