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-   -   How do people afford... (http://www.the370z.com/nissan-370z-general-discussions/6839-how-do-people-afford.html)

Roo 07-19-2009 04:40 PM

So how much did you start with in your portfolio? How did you acquire this money?

Junior370z 07-19-2009 04:41 PM

My car is financed. Same with my mini van. Honestly if I had the cash to buy a 370 cash, I would of just financed a GT-R. Point is nothing is wrong with financing so long you don't have financing for a rediculous %. I still buy things for my Z, but pay cash for my mods.
If you can tell yourself you can afford your mods financed or not, so be it and go for it. Your responsible for your own decisions. Who cares what other richer or poorer people say...

Roo 07-19-2009 04:42 PM

Quote:

Originally Posted by cptspeed (Post 118322)
wtf! don't listen to anyone. Do what makes you happy. spend some, save some. Its not rocket science. Live life to the fullest! Who wants to work all their life saving money to one day be able to pay cash for their car. You'll be too old to get in and out of it by then.

Wow, this is exactly why we are in this financial crisis. I would get use to saying 'Would you like fries with that'.....

BTW I am only 27. I own 2 houses, 3 cars all paid off, motorcycle paid off, boat paid off and carry zero debt except the mortgage on my second house and I reside in Southern California.

Roo 07-19-2009 04:48 PM

Quote:

Originally Posted by Junior370z (Post 118745)
My car is financed. Same with my mini van. Honestly if I had the cash to buy a 370 cash, I would of just financed a GT-R. Point is nothing is wrong with financing so long you don't have financing for a rediculous %. I still buy things for my Z, but pay cash for my mods.
If you can tell yourself you can afford your mods financed or not, so be it and go for it. Your responsible for your own decisions. Who cares what other richer or poorer people say...

Maybe because some people realize that America is in the trouble it is because people just HAD to have that $40k car, $15k in mods, and a half million dollar house all while making $40k a year. Kids seem to think they can afford something if they can afford the minimum payments. Problem is they live paycheck to paycheck their entire lives because when they were 18-25 they HAD to have it and are always in massive debt.

Balzdeep 07-19-2009 05:33 PM

Once again, 90% of the people posting on ALL car forums are 25 years of age or under. I would say less than 5% of this age group actually has any sizable amount of money in savings, 401k, real estate, stock market, etc. etc. The one's who have 10k plus to blow on their new cars are more than likely being funded my "mommy and daddy" or are living at home working full-time jobs (pay zero for housing/food/insurance etc.).

Once this economic down turn starts to really take hold in the next 12 to 18 months there is going to be a lot of cars for sale............

ZKindaGuy 07-19-2009 05:46 PM

Quote:

Originally Posted by Balzdeep (Post 118776)
.....
Once this economic down turn starts to really take hold in the next 12 to 18 months there is going to be a lot of cars for sale............

That might just not happen. Remember that 90% of the stimulus monies are currently being held back until the "bottoming out" occurs at which time the monies will be released which will in essence relieve the fallout from the "bottoming out" when it occurs.

So in essence the release of the stimulus is meant to "bypass" the extreme sickness that would naturally follow the "bottoming out".

In theory it should work however it will only be once again delaying the inevitable MAJOR market adjustment that has been looming on the horizon since the fallout of stock market during the late 80's. It will just come later on another day....but make no mistake...it will come because there is only some many "fake outs" that can be performed before the reaper has to be paid.

Junior370z 07-19-2009 05:48 PM

Quote:

Originally Posted by Roo (Post 118748)
Wow, this is exactly why we are in this financial crisis. I would get use to saying 'Would you like fries with that'.....

BTW I am only 27. I own 2 houses, 3 cars all paid off, motorcycle paid off, boat paid off and carry zero debt except the mortgage on my second house and I reside in Southern California.

Your point? You bragging or something? I finance my **** but surely am not living month to month. Your pretty much saying most of us in the U.S. Are lower than you for financing or something.

theDreamer 07-19-2009 05:52 PM

Quote:

Originally Posted by Roo (Post 118748)
Wow, this is exactly why we are in this financial crisis. I would get use to saying 'Would you like fries with that'.....

BTW I am only 27. I own 2 houses, 3 cars all paid off, motorcycle paid off, boat paid off and carry zero debt except the mortgage on my second house and I reside in Southern California.

We are in this financial crisis because the government went and forced banks to give bad loans on homes. Taking a loan on things is NOT bad if you understand the factors involved. Such as with a car, it will depreciate over time, a home will slowly increase yet you must invest into it.

GMZ 07-19-2009 05:55 PM

Quote:

Originally Posted by Roo (Post 118748)
Wow, this is exactly why we are in this financial crisis. I would get use to saying 'Would you like fries with that'.....

BTW I am only 27. I own 2 houses, 3 cars all paid off, motorcycle paid off, boat paid off and carry zero debt except the mortgage on my second house and I reside in Southern California.

Agree with your premise but not your delivery. Stinks of bragging to me.

Big deal, I financed my Z. I have enough stashed away to buy it cash (or pay it off if I need to), but my rate of return on my stash has so far been +25% which even factoring in interest on the Z is +20%. It made more sense to finance for me. Ever think of that? Thats how banks make money, borrowing short and lending long + pocketing the difference. Works the same for us, the smart ones who dont over extend themselves anyway.

ETA: I see no recovery in the next 5 years and things actually getting worse, devolving into societal breakdown.

Robert_Nash 07-19-2009 06:24 PM

Quote:

Originally Posted by hellogoodbye (Post 118493)
Quote:

Originally Posted by Robert_Nash (Post 118388)
I see "welcome to Wal-Mart" or "would you like fries with that" in your retirement future. :bowrofl:

Im currently in school to get my MBA so i doubt id ever work for walmart or any fast food place. also im making great money with the stocks (for now) so i might not need a fulltime job. its not guranteed but im making 5-20k a month (yes i have losses but overall im + every month) and the more money i make the more i can invest with so i make more. so maybe ill get a job to keep me busy but for now im gonna keep doing stocks til it doesnt work nemore

:rolleyes: Well...it's not that I don't believe you but I'd at least practice those phrases now and then.

Good luck...I think you'll need it.

hellogoodbye 07-19-2009 06:38 PM

Quote:

Originally Posted by Roo (Post 118738)
I call BS on your $5-29k a month. how about a screenshot of your portfolio?

scroll up and look at my trades from the 18th an 19th of june. do the math i made 5k profit on a single trade idr what my net gain was but trust me, day trading can make you lots. and i think u mean 5-20k. also if you dont believe me idc this thread isnt about me making money. i was asking a simple ? to get some advice which i got so maybe a mod should just lock this thread now

Roo 07-19-2009 06:48 PM

Quote:

Originally Posted by Junior370z (Post 118784)
Your point? You bragging or something? I finance my **** but surely am not living month to month. Your pretty much saying most of us in the U.S. Are lower than you for financing or something.

Apparently you missed the entire point of that post, good job reading between the lines.

I never said its bad to finance a car I was rebutting his statement of 'You'll be too old to get in and out of it by then'.

Roo 07-19-2009 07:02 PM

Quote:

Originally Posted by hellogoodbye (Post 118830)
scroll up and look at my trades from the 18th an 19th of june. do the math i made 5k profit on a single trade idr what my net gain was but trust me, day trading can make you lots. and i think u mean 5-20k. also if you dont believe me idc this thread isnt about me making money. i was asking a simple ? to get some advice which i got so maybe a mod should just lock this thread now

Because if you were making $5-20k a month you wouldn't be asking if you should finance $12k worth of mods at 13%.

hellogoodbye 07-19-2009 07:55 PM

Quote:

Originally Posted by Roo (Post 118872)
Because if you were making $5-20k a month you wouldn't be asking if you should finance $12k worth of mods at 13%.

once again thats not what im asking... i asked what most people do. also i would like an opinion b/c i use my money to day trade. if i payed it off outright id have less to use which means id make less. that would be the advantage of a loan in my case.

can u plz just stop posting on this thread? ur not answering the question which is the point of this thread ur simply being an annoyance.

Roo 07-19-2009 08:00 PM

Quote:

Originally Posted by hellogoodbye (Post 118910)
once again thats not what im asking... i asked what most people do. also i would like an opinion b/c i use my money to day trade. if i payed it off outright id have less to use which means id make less. that would be the advantage of a loan in my case.

can u plz just stop posting on this thread? ur not answering the question which is the point of this thread ur simply being an annoyance.

I did answer the question, why would you pay 13% interest if your making that much in gains each month? Why wouldn't you just put 25% of yours gains a month away till you have enough? And if your making $5-20k a month your talking peanuts.


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