We just don't learn, do we?

"Turbineguy: Nom de Zoom" (will-alib)
03/07/2019 at 10:08 • Filed to: None

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I disagree with the “suddenly” aspect; it’s been creeping up for years. But once again poor buying decisions en masse are about to lead everyone over the cliff when the doody hits the ventilator.

DISCUSSION (30)

Long_Voyager, Now With More Caravanny Goodness > Turbineguy: Nom de Zoom
03/07/2019 at 10:14

People are dumb.

Why buy a $10k used car that will do everything they need when a $50k car looks better to other people ( most of whom will never care, nor notice, what you’re driving anyway ) .

shop-teacher > Turbineguy: Nom de Zoom
03/07/2019 at 10:16

No, we do not learn. The collective human memory is exceedingly short.

Arrivederci > Turbineguy: Nom de Zoom
03/07/2019 at 10:19

Nope - but this is part of the reason why I sold a car I loved to get into something I could buy outright.

E90M3 > Turbineguy: Nom de Zoom
03/07/2019 at 10:19

Wow!

Says the man who almost took on a $1,000/mo payment back in 2013.

I mean, I’m currently paying $500 a month on the 3, not because that’s the minimum payment, but because I want to rid myself of that payment.

ttyymmnn > Long_Voyager, Now With More Caravanny Goodness
03/07/2019 at 10:20

I have only ever bought one new car in my life, a 2001 VW Golf. And then I drove it for 15 years.

We are looking to get a new family truckster, since our Odyssey is now 13 years old and on its second transmission and second motor. I went to Honda a couple of weeks ago and the first thing the salesperson talked about in each car was the infotainment. I asked questions about engines and transmissions and other things, some of which she could not answer. But to your point, having the latest car is just like having the latest phone. And as for that, I’m using an iPhone 6 that I bought used.

Future next gen S2000 owner > Turbineguy: Nom de Zoom
03/07/2019 at 10:22

It is the same reason we have recessions ever ten years give or take. We are due for one. I’m looking forward to it actually. Up the 401K when the market is tanking. Retire earlier.

ADabOfOppo; Gone Plaid (Instructables Can Be Confusable) > shop-teacher
03/07/2019 at 10:24

Humans have been doing basically the same stupid shit for as long as we have walked upright; we haven’t learned yet. We probably never will.

412GTI > Turbineguy: Nom de Zoom
03/07/2019 at 10:33

I sold cars for a little bit right out of college and can confirm people put themselves into these stupid situations. A large majority don’t seem to understand basic personal finances or just basic math when it comes to financing a vehicle.

You’d have people owe 29k on a vehicle worth 20 and demand us to get them to lower their payment to 350/mo on say a 35k truck or Jeep. How is math that hard?

I tend to put a lot of blame on the school system. It seems we care way too much about learning advanced maths/sciences only for people to go into the “real world” and get into terrible situations because they can’t understand the basics.

HondoyotaE38: A Japanese and German Collab...wait a minute > E90M3
03/07/2019 at 10:34

serious question: how are you able to afford paying for 2 BMWs? aren’t you in college?

promoted by the color red > Turbineguy: Nom de Zoom
03/07/2019 at 10:34

It seems like being near a car triggers some sort of panic response in most people.

All of a sudden everything’s too hard: R esearch? Too hard. M aintenance? Too hard. My friend is an intelligent guy but he mentally shut down when he was buying his Subaru and nearly made some bad choices along the way. Now he’s thinking he should have bought a Tacoma costing a lot more because YouTube told him to buy this to fulfill his dream of living out of a car.

E90M3 > HondoyotaE38: A Japanese and German Collab...wait a minute
03/07/2019 at 10:39

I graduated college with a ChemE degree in fall of 2012. Worked in the oilfield where I paid off the M3 in 2015. Currently a process engineer.

HondoyotaE38: A Japanese and German Collab...wait a minute > E90M3
03/07/2019 at 10:44

damn, that’s cool. as you probably know im still in high school. my aviation school full of opportunities has closed, leaving me stuck homeschooled with worse depression and no real future at the moment and i don’t know what i should do. what did you do in high school leading up to college, because it sounds like you more than have your stuff together

fintail > 412GTI
03/07/2019 at 10:48

Definitely linked to schooling. Personal finance is barely touched in K-12. It is left to parents, most of who are products of the same school system, and make the same mistakes.

E90M3 > HondoyotaE38: A Japanese and German Collab...wait a minute
03/07/2019 at 10:52

Well, I knew I wanted to be a chemical engineer in high school, so I took as many AP classes/Honors classes as possible after my fresh man year . Among other classes, I t ook AP Chem my junior year and AP Calculus AB my senior year.

Not sure how technical you are or what your career aspirations , but if you can’t get there where you want in high school or get into the school you want, I would recommend a community college where you can stand out and go where you want, if it’s engineering or something. I was fortunate and got into Georgia Tech out of high school.

HondoyotaE38: A Japanese and German Collab...wait a minute > E90M3
03/07/2019 at 10:56

yeah i should’ve been more clear, basically i want to be an automotive engineer/car designer. i also want to research solar technology to make solar power more accessible, efficient, and cost-effective and want to integrate solar technology to mainstream cars, or make my own solar-electric car. Bi g aspirations but I don’t know where to go and it’s stressing me out, plus depression takes away my drive to do anything on my own and i can see this but cant prevent it and i hate it

Nothing > Turbineguy: Nom de Zoom
03/07/2019 at 11:05

That’s about my monthly payment. My loan is only for 2 years though. I’m on my fourth consecutive new car purchase, thankfully all of them have had excellent resale.

Anyway, what I wish is that banks (ha) would tie a minimum down payment to a new car loan. Zero down, or rolling over negative equity, is just a terrible practice for an individual. Heck, for regular mortgages people need to have a minimum down, why not car loans?

nermal > Turbineguy: Nom de Zoom
03/07/2019 at 11:06

So, shit gets more expensive over time.... . That’s kinda how things work, and how they are supposed to work.

The more concerning aspect isn’t so much that autos are getting more expensive, but rather how expensive they are getting relative to consumer incomes.

BRB going to buy a new $80k pickup with a train engine, 10 spd taint ticklers, and snake leather interior. The bank approved me for a 96 month loan! I can feel my weiner getting bigger already!

nermal > Nothing
03/07/2019 at 11:20

Banks can be more lenient with car loans than mortgages. It’s easier and much less costly to repo a car than it is to repo a house.

Financing n egative equity into a new purchase is only a problem if selling the car before it’s paid down enough - By either the consumer or the bank that repo’d the car. The biggest area that it’s an issue is where people do a 60 month loan, trade after 2 years, then do a 72 month loan, then trade after 2 years, then do an 84 month loan. Once you do that 2 or 3 times you’re kinda hosed.

Nothing > nermal
03/07/2019 at 11:23

I understand banks aren’t going to take themselves out of the business of zero down car loans. Really, it needs to be the consumer that has that mind set. Unfortunately, a significant amount of people don’t think like that.

shop-teacher > ADabOfOppo; Gone Plaid (Instructables Can Be Confusable)
03/07/2019 at 11:46

Agreed.

E90M3 > HondoyotaE38: A Japanese and German Collab...wait a minute
03/07/2019 at 12:13

I feel you, but I would figure out what education you would need for that and start to head down that path. Engineering is usually pretty generalized and you get more specialized as you go down a certain path, usually after school. What year are you in school?

HondoyotaE38: A Japanese and German Collab...wait a minute > E90M3
03/07/2019 at 12:23

I’m in the second semester of sophomore year, technically. However, the way my now closed school worked was that it was a 4 by 4 schedule, meaning i only did english and history the whole semester and this semester was supposed to be algebra 2 and chemistry. Now i have to do said classes on my own in virtual school, which totally blows. On top of that i’m doing DIT and Spanish for graduation requirements, a full school year worth of 4 classes to be done by May. On my non-motivated own. But the reason i say “technically” is because now that i am not in a legit school, when i do go to a real school next year i can already be in my senior year because i am taking classes a year ahead of me right now, so im not really behind in a way, but ive been advanced my whole life so yeah im technically behind. Its not looking too good.

themanwithsauce - has as many vehicles as job titles > Turbineguy: Nom de Zoom
03/07/2019 at 12:36

Me, every time I see these articles:

Kinja'd!!!

Turbineguy: Nom de Zoom > nermal
03/07/2019 at 12:37

BRB going to buy a new $80k pickup with a train engine, 10 spd taint ticklers, and snake leather interior. The bank approved me for a 96 month loan! I can feel my weiner getting bigger already!

That sounds like the new Shelby F-250 Cobra. The snake leather was a dead giveaway..

E90M3 > HondoyotaE38: A Japanese and German Collab...wait a minute
03/07/2019 at 15:31

You’re going to need more than Algebra II for engineering school. Sounds like you should probably think about a community college or something, if engineering is your final goal. Any idea where you’d want to apply to college?

HondoyotaE38: A Japanese and German Collab...wait a minute > E90M3
03/07/2019 at 16:15

Im thinking of going to a college here in florida, otherwise i dont know. Next year i plan on doing dual enrollment with Osceola Technical College and Valencia College since my school is on OTEC’s campus and very close to Valencia. Problem is i don’t really know what dual enrollment does...

HondoyotaE38: A Japanese and German Collab...wait a minute > E90M3
03/07/2019 at 16:16

HondoyotaE38: A Japanese and German Collab...wait a minute > E90M3
03/07/2019 at 16:18

Im thinking of going to a college here in florida, otherwise i dont know. Next year i plan on doing dual enrollment with Osceola Technical College and Valencia College since my school is going to be on OTEC’s campus and very close to Valencia. Problem is i don’t really know what dual enrollment does...

E90M3 > HondoyotaE38: A Japanese and German Collab...wait a minute
03/08/2019 at 08:52

Good luck, if you want any more advice, you know how to ask me.

HondoyotaE38: A Japanese and German Collab...wait a minute > E90M3
03/08/2019 at 09:15

Alright. You have Instagram? Add me @_a.a.s_23 I'll hit you up if I need anything, same for you if you want.