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Crunk Abortion posted:I'll admit that I'm very new to personal finance, and there's a lot of things I don't know, but I don't feel like the approach I'm currently taking merits the degree of mockery I'm getting for it in this thread. People aren't going to access the emotional value of your purchase. They're just going to evaluate it on the numbers, and it's a pretty bad deal. There's also a few things I feel are at play: 1 - Just because this won't end disastrously for you doesn't mean that it was a good decision. 2 - The minimum threshold for a financial transaction being bad isn't it causing you to eat beans with hobos in an alley. On its face, having a 16% interest rate shows that you really couldn't afford this asset which is a used car with higher mileage that is expensive to maintain. Yes, you were able to maintain payments on it because you were able to maintain employment for some time and things worked out for you. At that moment that you bought the car, you couldn't afford it and it put you at pretty big financial risk. What, do you think of all the "I bought a car and it turned out terribly for me" stories, those people were just morons and you were savvy? Hopefully you can refinance, but I think the non-car-oriented world has a very different evaluation of your car and decision than you do. At its core, the social influences and marketing that makes a person a "car person" aren't that much different than what would make someone a "purse woman" or "gadget guy." All of those purchases are irrational to some degree, and none would be considered "good with money" if it caused someone to service high interest debt. Blinkman987 fucked around with this message at 20:14 on Apr 14, 2015 |
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Apr 14, 2015 19:57
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GreyPowerVan posted:On CL or what? That's about how much my current one was and I'm trying to replace it because it's a piece of poo poo. I bought two of this type of car while in college (like 2003) and they both had the same story in a general, abstract way. One was from a guy who used it as his secondary car when he went to take care of his properties. He couldn't drive his regular car into those neighborhoods. The other was from an elderly lady who had just lost her ability to drive. They all had meticulous paperwork on all the service done and drove well. They were old cars for sure, but well maintained and everything just made sense when putting the picture together on whether or not I should buy this car. I think I bought both of those cars the first day they were listed. Blinkman987 fucked around with this message at 00:09 on Apr 18, 2015 |
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Apr 17, 2015 23:55
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