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Initio posted:I know that truck equity here is Mint counts your vehicle's value towards your total net worth. I just let it give me the estimated KBB value and so far I haven't gotten any car loan offers (though maybe that's because I already have a loan on it...).
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Apr 14, 2015 14:51
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but why on Earth does mint ask how much my car is worth every time I log in?
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I added my motorcycle and some other easily-sellable toys to Mint because hell yeah I'd liquidate them in an emergency. Mint hasn't tried to sell a new car yet but they really want me to switch from Vanguard. Audis are super bad with money. That bartender was not exaggerating about his repair bills. MrKatharsis fucked around with this message at 02:34 on Aug 18, 2015 |
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Apr 14, 2015 15:05
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They're probably trying to cash in on the auto subprime bubble before it busts
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Apr 14, 2015 15:06
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Haifisch posted:"Hey guys, I'm mired in debt and cut my pay in half to help someone open a restaurant. What do?" Financial literacy in this country is just astonishingly bad. It's pretty obvious that this guy has the attention span of a flea and that Acorn is the Shiny New Thing that he's interested in now, but he has an $11k @ 16% debt staring him in the face. Why the hell wouldn't he put every spare penny he has towards that until it's gone?
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Apr 14, 2015 15:42
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MrKatharsis posted:Audis are super bad with money. That bartender was not exaggerating about his repair bills. My husband's Audi that he drove when I met him looked great and actually seemed to run okay, but needed an endless amount of sensors replaced. Nothing ever seemed to go that wrong with it, but sensor after sensor would gently caress up and convince him it was something terrible. Nope! Just another expensive sensor. It was giving him major driving anxiety. Then finally his windshield wipers quit working on a highway in the middle of a downpour. He immediately took the Audi in and traded it for a cheaper, more reliable car. He lost a little money on the trade, but factoring in the cost of replacing sensors and not dying in the rain, he's come out way ahead. Owning an Audi? Bad with money. Owning an Audi sensor factory? Very good with money.
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Apr 14, 2015 16:05
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MrKatharsis posted:I added my motorcycle and some other easily-sellable toys to Mint because hell yeah I'd liquidate them in an emergency. Mint hasn't tried to sell a new car yet but God drat they really want me to switch from Vanguard. My dad bought an Audi (A4, I think) that turned out to be a lemon. Over the course of the warranty in 8 months he owned it, he had around $13k worth of repairs done, almost all electrical problems. He ended up trading it in just before the warranty was up, and has sworn off the brand forever. He has an Acura RL that's been treating him real nice for about 10 years now. Pricey, but the guy likes what he likes. 
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Apr 14, 2015 16:31
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Blinkman987 posted:BFC meets AI here-- what's a reasonable non-truck 4x4 vehicle that can do some off-road? My girlfriend got her semi-yearly bonus and would like to buy a new vehicle. Yay tech! We do camping/hiking and she was digging Jeep Wrangler. Other than dirt bikes and ATVs, no non-truck vehicle can do off-road. If she wants to drive on really bad unimproved roads, an outback has the ground clearance for most situations. If it's just well maintained forest service roads to trailheads and campsites, any thing that isn't lowered can handle it. If she wants go 4-wheeling in ORV parks, then she needs a 4x4 truck. To be clear, by truck I mean a body on frame vehicle, a wrangler is a truck by this definition. I think it's the only Jeep that still is. Zool fucked around with this message at 17:07 on Apr 14, 2015 |
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Apr 14, 2015 16:53
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I don't understand buying a new or newish jeep/truck with offroading expectations. Just get a normal nice car and then buy a used piece of poo poo for off roading.
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Apr 14, 2015 17:40
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Zool posted:Other than dirt bikes and ATVs, no non-truck vehicle can do off-road. If she wants to drive on really bad unimproved roads, an outback has the ground clearance for most situations. If it's just well maintained forest service roads to trailheads and campsites, any thing that isn't lowered can handle it. If she wants go 4-wheeling in ORV parks, then she needs a 4x4 truck. I have a Wrangler. Most of the time it's uncomfortable, unsafe, loud, and inefficient. But it does have two huge saving graces. First, it's really fun in almost any weather. It's a convertible when the weather is nice and a 4x4 when it is bad. Second, it is very over-engineered for most day-to-day use. A 4cyl wrangler will go a few hundred thousand miles and every part is modular, modifiable, and usually interchangeable with other Wranglers over a nearly 10-year range. It is more car than tractor, but only just. So basically, there is almost no advantage to buying a newer one. A newer Wrangler might be more comfortable, safer, and more efficient than a older one, but never as much as any reasonable car. And they live long enough that there's not a huge difference in reliability. Mine is 15 years old now and the only major repair it needed in the 10 years that I've owned it was a new radiator. Seriously, I hit a deer on the way in a few days ago and banged up body panel. Now I'm forced with deciding whether I want to repair it right or just consider part of the car's "character." These things are born to be beaters. Folly fucked around with this message at 17:46 on Apr 14, 2015 |
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Apr 14, 2015 17:44
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Re: Audi sensor chat: I've been driving a Q5 for the past year and a half and I just had my first sensor replacement. $300 for some sensor in the engine. It was under warranty so it didn't cost me anything but still... Audi sensors... c'mon
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Apr 14, 2015 17:53
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Blinkman987 posted:BFC meets AI here-- what's a reasonable non-truck 4x4 vehicle that can do some off-road? My girlfriend got her semi-yearly bonus and would like to buy a new vehicle. Yay tech! We do camping/hiking and she was digging Jeep Wrangler. She talked about leasing one since she didn't think she'd want it more than 3 years, and I gave her enough information on why leasing (especially that vehicle) is bad. So, now she's looking at buying a used one since we'd just beat up the paint job and maybe a bumper. It's her money. She can buy whatever she likes, but I'd at least like to relay some good information if there's some available. Or Outback. Buy a subaru.
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Apr 14, 2015 17:56
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I've got a Subaru impreza 2011 which has never had anything done to it. But holy poo poo that paint job loving suuuuucks. You can give it a paint chip by staring at it too hard. I'm never loving repainting it because I don't give a poo poo.
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Apr 14, 2015 18:00
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Rallying pedigree means a few chips and scrapes are proper Subaru "accesories"
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Apr 14, 2015 18:06
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gvibes posted:Subaru crosstrek xv. Big fan of our Forester. Roomy and handles poor weather, dirt/gravel roads really well.
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Apr 14, 2015 18:07
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Seamonster posted:Rallying pedigree means a few chips and scrapes are proper Subaru "accesories" If your Subaru isn't scratched up and covered in mud, then why did you buy a Subaru? Same goes for Jeeps. Here's a proper Subaru: 
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Apr 14, 2015 18:10
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My mom's 1988 Camry had a paint job that was loving bulletproof. Subaru doesn't have to do this to us.
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Apr 14, 2015 18:34
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cowofwar posted:I don't understand buying a new or newish jeep/truck with offroading expectations. Just get a normal nice car and then buy a used piece of poo poo for off roading. Garfu posted:Re: Audi sensor chat: I've been driving a Q5 for the past year and a half and I just had my first sensor replacement. $300 for some sensor in the engine. It was under warranty so it didn't cost me anything but still... Audi sensors... c'mon Friends moms Q5 just got new Pistons 2 weeks ago! 55k IIRC.
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Apr 14, 2015 19:31
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So that bartender was earning ~$80k/yr? Holy poo poo. I'm telling my kid to skip college, be a bartender, save everything they make, and then retire to Mexico when they're inevitable and permanently laid off at ~30-35.
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Apr 14, 2015 20:29
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Barry posted:Financial literacy in this country is just astonishingly bad. It's pretty obvious that this guy has the attention span of a flea and that Acorn is the Shiny New Thing that he's interested in now, but he has an $11k @ 16% debt staring him in the face. Why the hell wouldn't he put every spare penny he has towards that until it's gone? He can simply spend more money now while only paying interest on the debt. It's the value of money right now. For the vast majority that's the most important thing. He won't be able to see that the interest means he can buy less in the future.
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Apr 14, 2015 20:40
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People say financial literacy is bad in this country, but is there data that actual compares financial literacy from country to country? It's a lot easier to be "financially literate" when you aren't paying tuition, healthcare premiums/copays/deductibles, etc.
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Apr 14, 2015 20:50
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It's also a lot easier to be financially literate when you are literally literate.
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Apr 14, 2015 21:36
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Radbot posted:People say financial literacy is bad in this country, but is there data that actual compares financial literacy from country to country? I hadn't considered this part before. When caveat emptor is in your country's DNA and every financial market employs people to determine how to financially gently caress you under the guise of "maximizing revenue," how can anybody avoid every financial trap?
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Apr 14, 2015 21:56
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Haifisch posted:"Hey guys, I'm mired in debt and cut my pay in half to help someone open a restaurant. What do?" That guy pisses me off. "Yes, I defrauded the state out of thousands in unemployment BUT PLEASE DON'T FART IN MY HUGBOX I'M REALLY SORRY OK?" And he transferred $2k into the Acorn to "invest with" and now it's at $1,800  Bought an Audi upon graduating (with $35k in student loans and an exciting career as a bartender)
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Apr 14, 2015 22:27
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Radbot posted:It's a lot easier to be "financially literate" when you aren't paying tuition, healthcare premiums/copays/deductibles, etc. Is this really the case? I would think that having to pay for and budget for these things could lead to a more literate population, not less. There could be other more influential factors involved.
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Apr 14, 2015 22:35
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Blinkman987 posted:I hadn't considered this part before. When caveat emptor is in your country's DNA and every financial market employs people to determine how to financially gently caress you under the guise of "maximizing revenue," how can anybody avoid every financial trap? I agree. I'll halt the derail so as not to turn this into D&D, but living in possibly the most consumerist society in the world while at the same time experiencing the worst labor market of the last ~60 years is going to swallow a lot of people. That said, truck equity and BMWs @ 16% interest aren't helping.
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Apr 14, 2015 23:07
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Blinkman987 posted:BFC meets AI here-- what's a reasonable non-truck 4x4 vehicle that can do some off-road? My girlfriend got her semi-yearly bonus and would like to buy a new vehicle. Yay tech! We do camping/hiking and she was digging Jeep Wrangler. She talked about leasing one since she didn't think she'd want it more than 3 years, and I gave her enough information on why leasing (especially that vehicle) is bad. So, now she's looking at buying a used one since we'd just beat up the paint job and maybe a bumper. It's her money. She can buy whatever she likes, but I'd at least like to relay some good information if there's some available.
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Apr 14, 2015 23:27
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I used to have a bus buddy who was thinking about leasing a midsize SUV or something like that. She was whining about how expensive it was how they'd tack on all these fees like an extra $200 a month for a bigger engine. Why did she need a bigger engine? In a case she wanted to tow something. When's the last time she'd towed something? Never. Did the vehicle have a tow hitch?  I think she went with the small engine, but she still ended up leasing a huge boat of a car.
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Apr 14, 2015 23:27
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This Yahoo article was linked in /r/personalfinance yesterday, the comments rightly take them to task.OP posted:I feel like this started off good - the guy talks about how important budgeting is to him - but it quickly derails. And the whole "ideal" budget versus real budget is kind of bizarre. I get they are wanting to pay off student loans and move to a higher cost of living area. 
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Apr 14, 2015 23:30
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Blinkman987 posted:I hadn't considered this part before. When caveat emptor is in your country's DNA and every financial market employs people to determine how to financially gently caress you under the guise of "maximizing revenue," how can anybody avoid every financial trap? Most of the people who get posted in this thread aren't underwater because of student loans, or healthcare costs. It's because of mindless consumer spending or piss poor planning and general life decisions. Having a bunch of student debt is no reason to believe in truck equity or to continue to go into credit card debt when you make more than enough to pay your bills.
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Apr 14, 2015 23:31
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Devian666 posted:He can simply spend more money now while only paying interest on the debt. It's the value of money right now. For the vast majority that's the most important thing. He won't be able to see that the interest means he can buy less in the future. Yeah, I would have said that he simply accepted that, being who he is, he will be in debt to someone for the rest of his life, so there's no rush to clear this current one. I used to know someone like this, that if they were given $100k a month, they would still be on the verge of bankruptcy, owing money to whoever was stupid / naive enough to extend him a loan.
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Apr 14, 2015 23:34
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ChipNDip posted:Most of the people who get posted in this thread aren't underwater because of student loans, or healthcare costs. It's because of mindless consumer spending or piss poor planning and general life decisions. Having a bunch of student debt is no reason to believe in truck equity or to continue to go into credit card debt when you make more than enough to pay your bills. This might seem true, but in reality a ton of necessities are much more expensive than they used to be. Adjusted for inflation: * The price of a public 4 year college education has increased by 138% since 1975 * The price of a private 4 year college education has increased by 157% since 1975 * Payroll taxes have increased from 9.9% to 12.4% since 1975 * The maximum taxable income for social security has increased from $64,516 (CPI adjusted 2015 dollars) in 1975 to $118,500 * The median single family home has increased from about $150,000 to over $200,000 since 1975 * From 1975 to 2005, healthcare spending per capital has incrased by over 255% At the same time, median household income adjusted for inflation has been somewhere between flat and +25% over the last 50 years.
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Apr 14, 2015 23:53
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Sic Semper Goon posted:Yeah, I would have said that he simply accepted that, being who he is, he will be in debt to someone for the rest of his life, so there's no rush to clear this current one. BFC superstars like Zaurg and Knyteguy have taught me two truths: some people are like goldfish and will constantly grow to the size of their financial 'tank', and (while there are also institutional factors that contribute towards poverty for many) a large portion of people who are financially completely hosed are in their position bot because of their income, but because of their attitude towards money. Bad with money anecdote: my brother is a doctor and took a new job without inquiring as to what his actual salary would be beyond 'somewhere in the 6-figure range'. He also had a habit of dating a girl for a while, cohabiting, and then when they broke up leaving her with an entire house full of furniture and appliances because he has weird guilt and unhealthy attitudes towards personal relationships.
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Apr 14, 2015 23:59
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Breetai posted:BFC superstars like Zaurg and Knyteguy have taught me two truths: some people are like goldfish and will constantly grow to the size of their financial 'tank', and (while there are also institutional factors that contribute towards poverty for many) a large portion of people who are financially completely hosed are in their position bot because of their income, but because of their attitude towards money. I remember one of the links posted here (or somewhere) a while ago was that poverty is an actual mindset. If you are poor you are poor and money doesn't magic itself out of nowhere. Once people find themselves earning more they will blow the money. Which in a poverty mindset it makes perfect sense in the feast or famine cycle. Then there are those that seem to bumble into lovely spending habits because it's easy. Easy credit is bad but there's a lot of it around. One of the worst examples I can think of though is a furniture franchise in Fiji. They will sell people furniture in hire-purchase financing. In the fine print it discloses that the interest charged for the 24 or 36 month term is for the full cost each month even though the principle is being paid off. It's a huge rip off and people end up paying 30%+ annually just to buy some furniture. All the advertising centres around irresponsible spending and financing. Finance is provided without confirming that people can pay. Even in one of the episodes of the "Ascent of Money" has a couple going bankrupt with late payments on a mortgage and 3 cars. If only those providing finance would be held accountable for providing credit when they shouldn't.
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Apr 15, 2015 00:44
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Breetai posted:BFC superstars like Zaurg and Knyteguy have taught me two truths: some people are like goldfish and will constantly grow to the size of their financial 'tank', and (while there are also institutional factors that contribute towards poverty for many) a large portion of people who are financially completely hosed are in their position bot because of their income, but because of their attitude towards money. Not sure which you think I'm in, but I'm not even close to finished yet. We paid off a $2,700 tax bill in cash, and we're going to be able to pay for my child's full birth with (tax-free) savings. Plus a decent cash savings on top of that. Nothing to sneeze at considering we were on payday loans at the start of the thread. For content: http://www.amazon.com/Breguet-Complications-Tourbillon-5335BR-9W6/dp/B002T4V3W4/ref=sr_1_1?s=apparel&ie=UTF8&qid=1429054934&sr=1-1 Reviews are kind of funny too. quote:I actually first saw this watch at a neat little store in Luxembourg, as I was refilling my ruby-encrusted helicopter with gasoline made out of unicorn tears. I passed it by, thinking nothing of it, but as I landed on the solid gold helipad of my fourteen-story chateau, it got me thinking: What am I missing in my life? I asked my pedigree manservant to fetch me the name of this trivial timepiece, and with a knowing chuckle I discovered that this Tourbillon watch came from the same countryside workshop as my armoir made of faberge eggs! Hearing this, of course, it had to be mine. Having purchased this watch, I can tell you first hand that it is worth every penny. The ability to tell the time when I look at my wrist is well worth the money. Of course, I had to buy three for my long-wristed manservant; sometimes it is a bit too much trouble to look at one's own arm. But whether you're scaling a custom-made solid platinum full-scale replica of Mt. Everest, or diving to the depths of the Adriatic Sea in your sapphire-encrusted submarine, you can be sure that this watch will tell you the time.
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Apr 15, 2015 00:46
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Here is a very intelligent young lady who is about to take out $180k in student loans to get a bachelor's degree in marketing. Even if it were an Ivy league and not goddamn Boston University it wouldn't be worth it.
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Apr 15, 2015 01:47
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Florida Betty posted:Here is a very intelligent young lady who is about to take out $180k in student loans to get a bachelor's degree in marketing. Even if it were an Ivy league and not goddamn Boston University it wouldn't be worth it. The only person I knew at college who got a marketing degree now waits tables in the suburbs. Sooooo yeah.
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Apr 15, 2015 01:50
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overdesigned posted:The only person I knew at college who got a marketing degree now waits tables in the suburbs. Sooooo yeah. My wife has a degree in Communication and made a PR career out of it working for a Fortune 500 corporation. But frankly, she got the career by working for poverty level pay at a non-profit that would pretty much let her do anything she wanted for a few years. Then she took that experience to a small company gig. Then to a big company gig. Apparently people who actually have a decent resume in the field are pretty rare, because she's had more job offers than I've had interviews. That said, I think she could have had the same career path with any degree. But it would have stopped at the small company if she didn't have a degree. It's the experience that seems to make those careers. Not the education.
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Apr 15, 2015 02:02
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SiGmA_X posted:Ah but you see, that isn't the best use of truck equity. Or ongoing costs cuz when you scratch up your 2016MY quad cab 3/4ton on the trails, you gotta get the body work done yesterday!! My mom's '06 A4 convertible hasn't had too many problems besides the $5000-6000 warranty job to replace a significant portion of the steering system about 2-3 months before the warranty expired. That having been said, she also barely drives the thing (I doubt the car even has 80k on it after 8-9 years).
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Apr 15, 2015 03:27
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Dik Hz posted:Just buy a beater to take camping. You'd be surprised how deep into the US's national parks and forests I got a '99 Saturn SC1 coupe. He should just go buy a $4k 4Runner 4x4 off craigslist and try as hard as he can to kill it (he won't).
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Apr 15, 2015 04:17
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overdesigned posted:The only person I knew at college who got a marketing degree now waits tables in the suburbs. Sooooo yeah. We've got a department full of people with marketing degrees. I'm told it's an important business process. (I still wouldn't advise spending 160k on it though, poo poo I could get two MBA's for that price.)
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Apr 15, 2015 04:50
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