I learnt things I wish I had not learnt

"Dr. Zoidberg - RIP Oppo" (thetomselleck) 01/13/2019 at 23:24 • Filed to: save your friends!!!

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Went out with a friend who’s turning over a new leaf. She’s going back to school, has curbed some costly habits, very “adulting” moves and whatnot . I’m impressed, and happy for her. But...

Among her plans was getting rid of her car... let’s call it a fully-loaded 2016 FlossBlek... that she bought new. She’s going to finish paying it off, then sell it for tuition money. She recently inherited a low-mileage Toyota from a relative and is just going to use that. Again: very sensible. Historically she’s the type to hang on to the fancy thing.

And she’s like, “Yeah, that alone will save me $600 a month.”

I am taken aback, but regain my composure.

“You ahhhh paid $600 a month for the ahhh FlossBlek?”

“Yeah... Well, the payment plus insurance was about $600 total.”

“But what about the [Ferd] you traded in? Didn’t you get a good—”

“That was a wash, it just paid for what I owed on it.”

“$600... so... you put nothing down on that car then.”

“Yes.”

“I see, I see...”

When I consider other factors that I’ve known for years and will retract but STRONGLY IMPLY RIGHT HERE: her commute [*cough* single-digits *cough*] , her income, her financial goals... Oh my Lord. I am so glad she’s giving up the game of turning in cars every few years — like I said: adulting is good! — but oh man, had I known the circumstances of her purchase when she got it three years ago, I think I would have tried to say something... anything...!

Not that I would expect anyone to listen, but what if they did?!?!

Alfalfa > Dr. Zoidberg - RIP Oppo 01/13/2019 at 23:27

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Here’s the crazy thing; the average car payment is 500 something a month now. So if you know someone with a car payment, it’s likely a pretty high car payment. There could very well be others you know.

EDIT: Just googled it, $523 is the national average.

Dr. Zoidberg - RIP Oppo > Alfalfa 01/13/2019 at 23:32

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The more you know dot gif

Like I said, the number was startl ing in context: income, commute, usage... I figured she put a fat chunk down to justify the purchase, but I assumed incorrectly. Also: a loaded FlossTrek? Not cheap.

CarsofFortLangley - Oppo Forever > Dr. Zoidberg - RIP Oppo 01/13/2019 at 23:32

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Shiiiit

Dr. Zoidberg - RIP Oppo > CarsofFortLangley - Oppo Forever 01/13/2019 at 23:33

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My thoughts similarly.

CarsofFortLangley - Oppo Forever > Dr. Zoidberg - RIP Oppo 01/13/2019 at 23:34

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meh, I can’t judge. People make mistakes.

As I grow older, I realize maybe, buying cars isn’t the best use of my casholsa...especially new.

Tristan > Alfalfa 01/13/2019 at 23:35

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GOOD GOOGLY MOOGLY!!!

I think $523 is the combined value of all my cars.

Highlander-Datsuns are Forever > Dr. Zoidberg - RIP Oppo 01/13/2019 at 23:37

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$600/month for a Flossblek? I would at lest want a Cloutflack Limited for that amount of money. 

Tristan > CarsofFortLangley - Oppo Forever 01/13/2019 at 23:40

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Didn’t you buy a new car like a month ago? ;)

Bman76 (hates WS6 hoods, is on his phone and has 4 burners now) > Dr. Zoidberg - RIP Oppo 01/13/2019 at 23:43

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Oof. I’m so glad that I have the titles to all three of my vehicles (the bike’s showed up today). Debt is too damn scary.

Dr. Zoidberg - RIP Oppo > CarsofFortLangley - Oppo Forever 01/13/2019 at 23:44

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Contrary to what I would assume would be a common opinion of me , I’m not a Scotty Kilmer/or that one financial guy I can’t remember... type guy... who trumpets against buying new or anything like that. I would if I could, ultimately I chose to do different things with my monies based on whatever extenuating circumstances in my life something something Celica

Alfalfa > Tristan 01/13/2019 at 23:44

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Dude, same.

Dr. Zoidberg - RIP Oppo > Highlander-Datsuns are Forever 01/13/2019 at 23:46

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$600 is flirting with Flascent territory

gmporschenut also a fan of hondas > Dr. Zoidberg - RIP Oppo 01/13/2019 at 23:48

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I have a redneck cousin that dropped 7 k on a mower. because his old one was too small and took too long to mow. “yeah its a lot but 0% financing”. N ow hes trying to find jobs to justify to his wife why he spent so much.

Dr. Zoidberg - RIP Oppo > gmporschenut also a fan of hondas 01/13/2019 at 23:50

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That one-ups my story by about 300%

CarsofFortLangley - Oppo Forever > Tristan 01/13/2019 at 23:53

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Yeah, but now I am a month wiser...

Also, that was different.  Work car! 

Tristan > Alfalfa 01/13/2019 at 23:54

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I bring it up when my wife complains about me spending money on cars/owning too many cars... Most families have two financed cars with fat payments, big depreciation, ‘spensive insurance, and they pay the dealer $100 to change a headlight bulb.

We have no payments, someone else took the big depreciation hit, I do all my own wrenching, my Jeep and Suburban are on liability-only because I rarely drive them and my Studeb aker is with Hagerty for like $100/year.

shop-teacher > Dr. Zoidberg - RIP Oppo 01/13/2019 at 23:54

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They never listen. At least this one figured it out before too long.

Dr. Zoidberg - RIP Oppo > Tristan 01/13/2019 at 23:54

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Is this an invitation to buy your entire fleet for $523?

Tristan > CarsofFortLangley - Oppo Forever 01/13/2019 at 23:55

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I know, yours is totally justified- just joshin’ ya!

Tristan > Dr. Zoidberg - RIP Oppo 01/13/2019 at 23:57

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Er... um... Not for sale-  I’m gonna fix ‘er up someday.

gmporschenut also a fan of hondas > Dr. Zoidberg - RIP Oppo 01/14/2019 at 00:04

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I have another cousin that sounds just like your friend. She drove a crapcan for 4+ years and then dropps  20-25k on a crossover to go single digits to work.

Alfalfa > Tristan 01/14/2019 at 00:05

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We have a payment for my wife’s car, but will be payed off very soon. Occasionally she’ll joke about spending as much on her hobbies as I spend on cars, at which point I’ll compare how much I’ve spent on my cars compared with her l oa n.

Dr. Zoidberg - RIP Oppo > gmporschenut also a fan of hondas 01/14/2019 at 00:08

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I mean, if you work a good job and make great money, why not treat yourself for those few miles a day?*

*believes none of what he just said, but respects others’ rights to believe otherwise

RangerSmith > gmporschenut also a fan of hondas 01/14/2019 at 00:16

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Does said cousin have a large area to mow? I would only ever recommend a purchase like that if it could be done with cash. The good news is that if taken care of, a well- made commercial mower should last a lifetime.

My wife and I bought a new place on an acre last year . Skag Patriot cost me $9200 with the mulch kit. T he other option would have been that I could pay a landscaping company to mow for me. But at that cost, the new mower essentially pays for itself in under three years(Long hot season). A lesser quality zero- turn mower, (think Home Depot or Lowes) may only cost 1/3 of the price, but may have to be replaced every 10-12 ish years depending on parts availability.

My wife decided that the new mower was worth the difference when she saw the neighbor(Other new neighbor in the neighborhood) on their regular riding lawnmower for 3 hours (He bags the clippings). It takes me under 30 minutes for me to mow an acre.

InFierority Complex > Dr. Zoidberg - RIP Oppo 01/14/2019 at 00:20

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I’m happy for her, freeing up $600 a month isn’t nothing.   I’m always surprised how much those car payment calculators estimate for relatively inexpensive cars unless you want to stretch it out 4-6 years.

Rusty Vandura - www.tinyurl.com/keepoppo > Dr. Zoidberg - RIP Oppo 01/14/2019 at 00:21

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Should I know what a FlossBlek is?

RangerSmith > Dr. Zoidberg - RIP Oppo 01/14/2019 at 00:21

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Dave Ramsey

Rusty Vandura - www.tinyurl.com/keepoppo > gmporschenut also a fan of hondas 01/14/2019 at 00:22

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Is that worse than spending $35,000 on a NASCAR SnapOn tool chest?

Dr. Zoidberg - RIP Oppo > RangerSmith 01/14/2019 at 00:24

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[snaps fingers]

THAT’S the guy

Rusty Vandura - www.tinyurl.com/keepoppo > Highlander-Datsuns are Forever 01/14/2019 at 00:24

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And it better have a gestaf fenator for that kind of money as well. Or at least a flicknower.

Dr. Zoidberg - RIP Oppo > Rusty Vandura - www.tinyurl.com/keepoppo 01/14/2019 at 00:27

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Svend > Dr. Zoidberg - RIP Oppo 01/14/2019 at 00:32

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Thing is people don’t buy within their means.

If your finances can only stretch to a compact but you really want a large family car, tough. When you can afford a large family car, get one.

If you spend more than your getting on a car, you create a situation of getting further into debt, leading to other bad decisions when something happens to the car that you can’t afford to repair, or similar around the house.

With how much hospital treatments cost over there you’d think people would be doing the opposite.

But people are living for today, it's only that tomorrow has a few eye openers for them. 

slipperysallylikespenguins > Dr. Zoidberg - RIP Oppo 01/14/2019 at 00:38

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People make terrible decisions. A 21 year old coworker of mine just dropped 340k on a house and then a month later bought a brand new Kia Forte. He’s paying I think 550 a month for 72 months............on a Forte! Also just had a baby, hence why he wanted a brand new car. Oh and he makes about $22 an hour. His fiance makes a little more but not much. Math is very hard for some.

Dr. Zoidberg - RIP Oppo > slipperysallylikespenguins 01/14/2019 at 00:44

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And if they didn’t have 20% down (doubtful at that age), they’re also paying PMI, plus whatever bigly mortgage by virtue of what I assume was only 5% down. The GOOD news for them is that the house will always (makes exaggerated air quotes) pay off, even nominally at worse. Allegedly.

slipperysallylikespenguins > Dr. Zoidberg - RIP Oppo 01/14/2019 at 00:51

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Hahahaha, 5%! It was 0%, gotta love that first time home buyers loan. I believe both of their families cosigned for them.

As someone who is very disciplined financially, it drove me nuts listening to what he thought were sound decisions. All of us that worked with him tried to sit him down and talk to him about economics, but 21 year olds know best.  

Oh, and he quit 2 weeks after buying the car and took a $4 dollar pay cut to be an exterminator.

His Stigness > Dr. Zoidberg - RIP Oppo 01/14/2019 at 00:55

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I sort of did that. I got the e-Golfs so save on my 24 mile commute. While I tried to justify it completely, the e-Golf still came out to about $100 more a month than just fuel for my Mercedes.

But now I work two miles from home. So I don’t need it at all. But, I am sooooooooooo much happier. I absolutely love the car and the $300 a month I spend on it is fantastic. And I get more use out of it then I thought I would when I got it. I thought I would take my TDI to LA or Disneyland, but I always take my e-Golf since it’s actually cheaper. And god it’s so nice to drive an EV.

But, at least I knew going into why I was getting it.

Dr. Zoidberg - RIP Oppo > slipperysallylikespenguins 01/14/2019 at 00:59

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How did they get approved at zero percent?!? Predatory lending practices there...

Dr. Zoidberg - RIP Oppo > His Stigness 01/14/2019 at 01:00

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But see, I don’t know what you make or what your overhead is (I’M NOT ASKING, I ASSUME YOU CAN DO MATHS), whereas with my friend I DO know.

His Stigness > Dr. Zoidberg - RIP Oppo 01/14/2019 at 01:07

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Oh yeah, good point. I’m guessing her car payment was a very large percentage of her income?

But I can gather if you actually knew who I was under the helmet you advocate against me having gotten a new car and just use that excess money to pay off my student loans and such. Or save for a house.

Dr. Zoidberg - RIP Oppo > His Stigness 01/14/2019 at 01:14

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But I can surmise if you kne w *me* personally and well , you could quickly identify financial decisions that you would also find ghastly over my adult life.

His Stigness > Dr. Zoidberg - RIP Oppo 01/14/2019 at 01:18

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I doubt I would find ghastly mistakes. And even if I did, I’m sure they would have been past ones which most of us have all made. None of us are perfect. We’ve all screwed up. Being an adult is just admitting your mistake and generally crawling out of holes we’ve dug for ourselves.

Dr. Zoidberg - RIP Oppo > His Stigness 01/14/2019 at 01:22

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But I thought being an adult was about having your spirit slowly crushed into dust

slipperysallylikespenguins > Dr. Zoidberg - RIP Oppo 01/14/2019 at 01:25

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Has to be considering they had terrible credit with little history. But I was approved two years ago for 0% down and a loan up to 500K. Ended up paying 7% down just because 0% down is a terrible idea.

glemon > Alfalfa 01/14/2019 at 01:52

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Wow, never gone much over $300 myself, but I don't buy new, or at least haven't for a long time.  I have had lots of fun cars, but they have all been cheap.  Part of it is being young maybe, assume your income will go up and you have all the time in the world to pay off debt.  I have neither the luxury of thinking that or doing that anymore.

Dr. Zoidberg - RIP Oppo > Alfalfa 01/14/2019 at 02:01

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Math is power in marriage. A comfy couch helps, too.

His Stigness > Dr. Zoidberg - RIP Oppo 01/14/2019 at 02:34

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I thought that happens the first time you have to pay for your own shit health insurance?

Or student loans come due. 

wafflesnfalafel > Dr. Zoidberg - RIP Oppo 01/14/2019 at 03:53

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S he probably lucked out - those FlossBleks hold value well, (unless of course she sold it for way less then it was worth...)

random001 > Dr. Zoidberg - RIP Oppo 01/14/2019 at 06:28

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Define slowly?  Is that like 5 years, or 20 years, because I’m at 20 years, and I’m sweeping up daily...

benjrblant > Dr. Zoidberg - RIP Oppo 01/14/2019 at 06:34

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$600?!?! how?!

Rusty Vandura - www.tinyurl.com/keepoppo > Dr. Zoidberg - RIP Oppo 01/14/2019 at 07:48

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Is that a Subaru?

functionoverfashion > Dr. Zoidberg - RIP Oppo 01/14/2019 at 09:22

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I don’t think all four of our vehicles cost us $600/mo combined. Ok maybe. But seriously, FOUR.

I should say that actually two of them are financed, for the first time in my life, but only for a small percentage of their values, and only because interest rates were so low.

My wife and I also have non-zero commutes and must have two functioning cars every day of the year.

UnderSTeerEnthusiast - Triumph Fanboy > Alfalfa 01/14/2019 at 10:22

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I struggle to understand how people can be okay with spending that much a month for 6+ years on a car. My ST is significantly less than that but yet I’m still paying way above minimum so I can have it paid off in 2.5 instead of 5 years, however it feels good knowing I can do that for a short time and have the car paid off even before the warranty . Also, If something happens I can cut that payment way back and still be fine. I can’t imagine a $500+ payment MINIMUM for 5,6, or  7 years.

Duck Duck Grey Duck FTMFW! > Dr. Zoidberg - RIP Oppo 01/14/2019 at 10:58

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God, I am paying $300 a month for a FlossCrack Limited! I am paying $50 extra too! $600 was what I  used to pay for a house mortgage!

Longtime Lurker > Dr. Zoidberg - RIP Oppo 01/14/2019 at 12:14

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This is pretty much true of every adult on the planet.

Alfalfa > UnderSTeerEnthusiast - Triumph Fanboy 01/14/2019 at 12:46

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Especially when we’re talking depreciation from new. When you’ve finally paid off that new car in 5-7 years it will likely be  worth a little more than all the interest you've paid.

gmporschenut also a fan of hondas > RangerSmith 01/14/2019 at 22:30

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He has a big chunk of property but between the driveway bushes, and other stuff, his mowing path looks like a zen rock garden. And on top he keeps taking more trees down, expanding the grass and making it grow faster.

He had a good walk behind, but wanted a riding. so instead of spending 200 and getting a standing dolly he dropped (update) 7800. . I just find it funny gets bigger mower to save time. has to get job to pay for mower to save time .  

He just dumb with money. H as 2 young kids, a new to him house. Keeps spending stupid amounts on his truck and if any discussion comes up about someone going on trip, is the first to kill the conversation with “ I wish I had money to go to ___”

gmporschenut also a fan of hondas > slipperysallylikespenguins 01/14/2019 at 22:40

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When I was looking, i spoke with the mortgage person at th bank. I bring in my financial stuff, he pull s up my account history. Asks me how much I said (home value) looks over documents. “thats it, oh you could get approved for 2 *home value)“ I nearly pu ked how much he said. 

RangerSmith > gmporschenut also a fan of hondas 01/14/2019 at 23:37

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Yikes. D epreciation is a cruel mistress.

gmporschenut also a fan of hondas > RangerSmith 01/15/2019 at 20:40

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the dumbest part is the mower he sold, the previous owner replaced the engine. So yeah the deck was beat up, but ran perfectly and he got squat for it. 

Denver Is Stuck In The 90s > slipperysallylikespenguins 01/21/2019 at 03:05

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Making a combined $44/hr equates to roughly 92k a year pre taxes or 7500/mo. Assuming a 30 year mortgage, a 340k house equates to about $950/mo not including interest. Plus the 550/mo car payment; thats about 1500/mo in bills. Out of their pretax income that leaves 6k for food, groceries, gas, taxes, etc... if theyre not frugal theyre living paycheck to paycheck but that all seems pretty affordable.

Definetly more affordable than the way Im living at least. My fiance and I both work full time for $14.50/hr and pay 1375/mo for rent before utilities. Id kill to only pay 950/mo for rent but unfortunately thats unattainable in colorado.

slipperysallylikespenguins > Denver Is Stuck In The 90s 01/22/2019 at 00:53

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The actual mortgage portion isn’t that bad. Its the property taxes and interest that get you. Property taxes are really bad in WA. I pay 600 dollars a month in property tax on a 230K house. A friend of mine who just bought a 300k house pays $2300 a month all in inlcuding HOA fees, so I was assuming the 340K was about 2700 or so.

I moved from Denver a couple years ago, and my housing dollar didn’t go very far there either unless I wanted to live in a real shady neighborhood .

Denver Is Stuck In The 90s > slipperysallylikespenguins 01/22/2019 at 01:03

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God, I thought 3k a year for a 300k house in denver was bad. 600 a month?!?!