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Harry
Jun 13, 2003

I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

dreesemonkey posted:


Buy a $1500 beater honda/toyota/mazda, typically these are very reliable cars that get you from A to B.

This is bullshit. I was looking around for a car recently and the only ones even close to this price range were cars from the late 80's. These aren't super reliable cars and there's a decent chance you're a turn away from a $2000 repair bill.

In fact re-reading your post again, I can't believe you actually think it's a decent plan.

Harry fucked around with this message at 21:54 on Oct 20, 2009

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Harry
Jun 13, 2003

I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Backno posted:

his idea is a good idea in general though. Yes in your area a mid 90's beater costs 3-4k, so your first beater is 3-4k. Save $300 per month for a year add that to the 4k from selling your 4k beater (cause in a year it isn't going to drop much if any in value)and drive a paid for $7k car. Save for 2 or 3 and repeat. Yes stuff like wrecks or major engine failure can stop or slow this down, but the goal is YOU DO NOT HAVE A CAR PAYMENT.


Car payments aren't the end of the world. If you guys think you can find a decent car for $4-5k then go for it, but from what I saw you're opening yourself up to a broken heap of a car which you won't get anything back from.

Harry
Jun 13, 2003

I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

dreesemonkey posted:

You can buy a new car and have it be a lemon and end up trolling around in dealer loaners for six months (It's happen to my friend who only buys new more than one time - both cars were bought back under lemon law). Buying new doesn't automatically mean no worries. Seriously though, with some hunting you can find some great cars for $2-5k.

Yes but you have guarantees, unlike the "great" cars with "only a few problems" you get from craigslist.

Harry
Jun 13, 2003

I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

kimbo305 posted:

Maybe this hasn't been emphasized enough, but to buy a good car cheap, you have to arm yourself with knowledge. No, you don't have to be a shadetree mechanic, but you should be well versed with the general workings of all aspects of a car and familiar with specific issues of the model you're looking at buying.

Basically, you should never be taking the seller's word for anything. Inspect the car yourself and crosscheck the maintenance records against known problems for the model.
Yeah. I'm just trying to stop this mantra I've been seeing here where every $4000 car works 100% fine and it's easy to find and buy one off of CL and never have a major repair. Cars with over 130k miles can run great if they're well maintained, but let's face it that's not the norm.

Harry
Jun 13, 2003

I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Backno posted:

No they are not...but for alot of people they only think "this car is only $250 per month, I can afford that!" When in reality they should be driving a much cheaper car. I actually have a car payment atm because my old car (93 plymoth sundance) had a cracked block and was going to die at any moment and I didn't have enough saved up to replace it. I had my dad co-sign and I have gotten to the point where I could pay the car off at any time, but I dont want to because I want teh regular payments to help my credit.

One of the reasons I am big on the no car payment thing to alot of people is that alot of the people who are asking are in bad shape money wise. They need quick, harsh advise that is easy to follow to get them started. Once they have done that for a bit and have a better handle on things they can move to more advanced advice. Telling a person "well a car payment is ok if you make X and have Y debt and if cars in your area cost Z and, and, and..." is harder to follow then "sell the car, buy a beater with cash, save the car payment for another car/car repairs".
Sorry but unless they 100% can't afford the car payment (as in they make x a month and with the car they have to pay x+y a month) I don't see how selling the car at a loss will help them. If I had to resort to buying a beater that was unreliable I'd probably be fired quickly.

Harry
Jun 13, 2003

I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

zamin posted:

I drive an 88 Honda Accord that I paid $1300 for over a year and a half ago. In that time, I've spent about $250 fixing things that broke, maybe $150 doing routine maintenance and fixing little things that didn't affect safety or drivability. I'm going to spend maybe $350 doing the timing belt, water pump and my CV halfshafts before I make the 1100 mile trip back home for Christmas.

After that, there's almost nothing that needs to be done to the car, and it'll last another 50k easy. There kinds of cars aren't the easiest to find, I did do a lot of looking, but they are definitely out there. By the time this one finally shits the bed, I'll have enough saved up to get something a whole lot nicer.
Great job on being the huge exception to the rule.

Harry
Jun 13, 2003

I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

quaint bucket posted:

Canadian goon here to ask a question regarding vehicle ownership by gift.

About two month ago, I was offered a vehicle (not new, 1999) as a wedding gift (free) but I currently have a vehicle. I've been trying to sell my vehicle (not new, 2002) in the meantime (have 3 buyers looking at it and talking with their banks). I'm not concerned about the condition of the truck as I know the owner is a mechanic and keeps all of his vehicles in very good condition, so this is a non-issue for me.

The only concern I have is that I know the family is having financial problems (high 5 figures), is it possible that if the family ever default down the road, the banks could seize the vehicle while I'm in ownership? I'll be having paperwork to show that the transfer was done as a gift but I want to know if that will hold up since I don't want to be left high and dry if the situation should occur.

e: alternatively, how can I find out if there is a lien on the vehicle?

Not a lawyer but I mean if you have the title of the car I'm not sure how a bank would take it. Not to mention I don't see why they'd even bother going after it.

Harry
Jun 13, 2003

I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

I'd be careful with a Jeep. Mine crapped out on me last year and was pretty much a constant headache throughout it's whole life (was a 98). And $2000 worth of repairs on a Jeep with only 18k miles? What are they?

Harry
Jun 13, 2003

I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Scipio posted:

It looks like a tree fell on it, has damage to the drivers side and the hard-top. Supposedly no frame damage.

I trust the mechanic quite a lot, so if he can vouch for it being sound, I'm good.

Well I'd still suggest looking into it more. Mine had electrical and A/C problems throughout it's whole life that the mechanics couldn't fix and from what I've heard Jeeps didn't really get much better quality wise.

Harry
Jun 13, 2003

I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Leperflesh posted:

No, I'm pointing out that MPG is not a straightline graph for constant distances. It'd be better if we reported fuel economy in volume-per-mile instead, because the constant for most people is miles; they drive a given distance each week (or year or whatever).

I didn't mean to oversimplify or talk down to anyone. I could edit it if you're offended.

I think he meant this pretty obvious just based on percentages.

Harry
Jun 13, 2003

I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

$8500 sounds pretty high for a 10 year old car.

Harry
Jun 13, 2003

I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Well, the auction house takes a cut for one part. I think it's a rather heavy cut as well. Not the greatest source ever, but on Pawn Stars Rick mentioned that they take around a 20% cut.

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Harry
Jun 13, 2003

I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Unless you're doing something with that $10,000 in the brokerage account, I'd suggest just to use that to keep life simple. I'm sure you guys will be together forever, but if you aren't worrying about whether or not you'll have a car after the split wouldn't be worth it.

Realistically, the costs of owning a car isn't that much. You can fit it in if your expenses are really what you say they are.

Also, personally I thought the Yaris I drove was kind of crappy. It was a rental though.

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