Are car payments a fact of life? - Honda Motorcycles - FireBlades.org
Off-Topic Discussion of anything that doesn't fit anywhere else. If it's related to motorcycles in any way, DO NOT post it here. Post it in General Discussion or a more specific forum.

User Tag List

Reply
 
LinkBack Thread Tools
post #1 of 74 Old 02-16-2005, 10:42 PM Thread Starter
 
Join Date: 05-08-2003
Posts: 8,824
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 0
       
Are car payments a fact of life?

Philosophical question here (assuming I'll get replies from folks who can't afford to go pay cash for a new car).

How do you view car payments?

Do you chalk them up to being a "fact of life"? If so, does it make any sense to keep a car much beyond 3 or so years on the typical 5 year loan? Or, assuming you do look at a monthly car payment as something you'll be dealing with most of your life, do you just drive whatever the hell you want and trade off before the cage gets too far out of warranty?

My truck is a (now dented, lol!) '01 Silverado extended cab Z71. It's been a solid, dependable ride. I've got 52K miles on it, it's well out of warranty, and I'll be needing to put tires, brakes and perhaps shocks on it by summer. I owe a little more than a year's worth of payments, about six grand.

I know driving one paid off is ultimately cheaper in the long run, but the last time I did that (with a '95 F150), it turned into a black hole and cost me a wheelbarrow full of money in maintenance and repairs. I kept it six years, bought the Chevy, and swore I'd never try to pay another one off again. Now I'm at a crossroads.

Well, whaddy'all think?

(Note: I blame bwhip for this. Figment too. New truck buying scum! )

Edit: Oh, can't forget Depo and fumbducker - I think they both got new pickemups here recently!

Last edited by Chain; 02-16-2005 at 10:44 PM.
Chain is offline  
Sponsored Links
Advertisement
 
post #2 of 74 Old 02-16-2005, 10:45 PM
 
Join Date: 05-01-2001
Posts: 12,126
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
Reputation Power: 0
             
Re: Are car payments a fact of life?

I usually upgrade every 2-3 years, so payments will be in my future.
ConqSoft is offline  
post #3 of 74 Old 02-16-2005, 10:46 PM
 
Join Date: 01-28-2003
Posts: 6,318
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 0
                 
Re: Are car payments a fact of life?

It's a personal decision. Niether is right or wrong. Both are a gamble.

HD
Heavy-Dee is offline  
Sponsored Links
Advertisement
 
post #4 of 74 Old 02-16-2005, 10:48 PM
Supporting Member
 
SomeStrangeGuy's Avatar
 
Join Date: 05-23-2001
Location: Around here.
Posts: 4,302
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 34
                 
Re: Are car payments a fact of life?

If I could keep a car for longer then 24 months I'd let you know. Guess it all depends how much you want your savings account to grow

My problem is I always swear "this will be the perfect vehicle for me to own" and the first tank of gas goes by and I begin again researching the perfect vehicle for me to own.

Now I'm just searching for a job that supports this habit, cause it's pretty much anything with an engine...not just cars
SomeStrangeGuy is offline  
post #5 of 74 Old 02-16-2005, 10:49 PM
Supporting Member
 
SomeStrangeGuy's Avatar
 
Join Date: 05-23-2001
Location: Around here.
Posts: 4,302
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 34
                 
Re: Are car payments a fact of life?

btw Chain I seen Ashton Kutcher sporting one of them new CXT's...so no fears of being the first with that now
SomeStrangeGuy is offline  
post #6 of 74 Old 02-16-2005, 10:49 PM
Supporting Member
 
cbr99xx's Avatar
 
Join Date: 02-12-2003
Location: North Georgia
Age: 58
Posts: 2,692
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 27 Post(s)
Reputation Power: 27
             
Garage
Re: Are car payments a fact of life?

What's a car payment?















Life always looks better through bugs on a face shield.
cbr99xx is offline  
post #7 of 74 Old 02-16-2005, 11:00 PM
 
ND4SPD's Avatar
 
Join Date: 07-07-2002
Location: US
Age: 16
Posts: 16,568
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 50
                     
Re: Are car payments a fact of life?

6 months ago, I would've said yes. I'm not so sure anymore. If a car that's paid for breaks, it's usually cheaper to fix than jumping into a car payment with interest for 5 years...even if it's a blown engine. I'm hoping to not ever have another car payment after the Focus is paid for.
ND4SPD is offline  
post #8 of 74 Old 02-16-2005, 11:08 PM
 
Join Date: 07-13-2004
Posts: 1,657
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 0
 
Re: Are car payments a fact of life?

Quote:
Originally Posted by SomeStrangeGuy
If I could keep a car for longer then 24 months I'd let you know
Same goes here...vehicles seem to get swaped quite a bit, mind you I have always found that if I am not paying money on something it just disapears anyways may as well have nice stuff and no money as no money and no stuff?

I have owned a couple of "beauties" that were mine... an 81 diplomat that I bought for $40(and put 70,000kms on without a problem) and a 84 cutlass supreme that I bought for $1100 and traded 35,000kms later(again without a problem) for $1800 (plus tax savings), go figure?

Really just depends on what your prioritys are? and how big your paycheque is?
Northern RR is offline  
post #9 of 74 Old 02-16-2005, 11:56 PM
 
Join Date: 05-07-2003
Posts: 3,599
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 0
 
Re: Are car payments a fact of life?

From your post Chain, it's pretty clear that reliability has been an issue with your paid-off vehicle(s), so I think it depends on the vehicle itself. You should easily be able to buy a Honda/Toyota/Nissan and drive it well past its payoff date

If you're looking at a truck, consider the Titan. Besides being a kick-ass machine, it's the only one right now without any recalls (sad, huh?).
2OHOH2 is offline  
post #10 of 74 Old 02-17-2005, 12:41 AM
 
Join Date: 03-02-2003
Posts: 4,132
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 0
                 
Re: Are car payments a fact of life?

My wife's Expedition is a '97 with 170,000 miles on it, that I paid off in 2000 (even though it was originally a five year loan). It was sure nice to get rid of those $550.00/mo payments! I know that at some point the thing is going to die and I'll be back to payments again, but it sure has been great without them.
bwhip is offline  
post #11 of 74 Old 02-17-2005, 12:45 AM
 
Join Date: 08-28-2001
Posts: 3,203
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 0
       
Re: Are car payments a fact of life?

If you want to drive a vechicle much past its 4-6 year loan, your going to have to stop buying american, simple as that. There are plenty of 10 year old, 100-150k Toyotas going strong that have never seen a dealer and wont. Your Ford didnt even last 6 years before it was a money pit. But hey what do I know, I just put 286k on one, 220k on another, 87k on my last one, and have 30k on my current truck. All toyotas. None ever saw the inside of dealer after they rolled off the lot when new.
G-Force Junkie is offline  
post #12 of 74 Old 02-17-2005, 12:47 AM
 
Join Date: 08-28-2001
Posts: 3,203
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 0
       
Re: Are car payments a fact of life?

Oh, and to answer your question...yes, I will always have payments...even the years after the loan is paid off, that monthly "payment" goes into an account for the next trucks down payment.
G-Force Junkie is offline  
post #13 of 74 Old 02-17-2005, 1:10 AM
 
Join Date: 06-23-2001
Location: Toronto
Posts: 1,835
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 20
 
Re: Are car payments a fact of life?

you need to buy a vehicle that's proven to be low in maintenance and have cheap parts. Honda Civic comes to mind. So does Toyota Corolla? I will probably succumb to such mundane choices once I am too old to mac chicks. haha.

Be fast or be last.
asiliat is offline  
post #14 of 74 Old 02-17-2005, 1:19 AM
 
phobiaphobe's Avatar
 
Join Date: 05-23-2004
Location: Omnipresent
Age: 37
Posts: 11,499
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 43
                     
Send a message via MSN to phobiaphobe
Re: Are car payments a fact of life?

Quote:
Originally Posted by asiliat
you need to buy a vehicle that's proven to be low in maintenance and have cheap parts. Honda Civic comes to mind. So does Toyota Corolla? I will probably succumb to such mundane choices once I am too old to mac chicks. haha.
That's why you have a motorcycle, no?

I like the idea of buying a new Toyota, paying it off over 5 years and driving it for another 10. Since I work in the car business, I don't need to own a vehicle and maybe never will. Though I would like to buy one of those new Tacomas when my motorcycle is paid off.

And then there's this asshole...
phobiaphobe is offline  
post #15 of 74 Old 02-17-2005, 2:55 AM
 
Join Date: 09-11-2002
Posts: 777
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Reputation Power: 0
   
Re: Are car payments a fact of life?

Quote:
Originally Posted by G-Force Junkie
Oh, and to answer your question...yes, I will always have payments...even the years after the loan is paid off, that monthly "payment" goes into an account for the next trucks down payment.
Thats the key. When you do pay off the truck just start putting that money you were using for the monthly payment in to a savings account. That way you dont get into a bad habit of spending money you dont really have. With that money out of the way it keeps your budget in line and still builds up the cash for a new truck if/when the current one goes TU.
Diesel954 is offline  
Reply

  Lower Navigation
Go Back   Honda Motorcycles - FireBlades.org > Other > Off-Topic

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Honda Motorcycles - FireBlades.org forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
A valid e-mail address is REQUIRED. You will not have access to any site features until you activate your account using the activation e-mail that is sent to this address.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Similar Threads
Thread Thread Starter Forum Replies Last Post
It was only a Motorcyclist cichlid General Discussion 43 11-01-2004 11:14 PM
Those ingenious Frenchies "invent" the compressed air car... Baketech Off-Topic 8 10-02-2004 10:57 PM
A DAY IN THE LIFE OF JOE REPUBLICAN figment Politics 8 09-16-2004 1:52 AM
Broke my car... TAZ Off-Topic 10 05-17-2004 2:08 PM
Got a new (okay, new to ME) car... TAZ Off-Topic 16 04-29-2004 7:14 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

 
For the best viewing experience please update your browser to Google Chrome