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Old 03-13-2019, 01:10 PM   #19
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Quote:
Originally Posted by tmontague View Post
In simple terms as it applies to individuals, yes.
How so?
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Old 03-13-2019, 02:23 PM   #20
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How so?
the rule of economics is dont borrow more then you can afford on a depreciating asset regardless if you can afford it now, can you afford if it you lose your job tomorrow? become injured? die?
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Old 03-13-2019, 02:50 PM   #21
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Quote:
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How so?
In business ventures often times money needs to be spent that in order to make money and you run at a loss for the first while.

For individual banking generally not living outside your means is a good choice for sustainable living. This is especially important when buying a depreciating asset like a car
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Old 03-13-2019, 04:46 PM   #22
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Enter the yaris...
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Old 03-13-2019, 05:41 PM   #23
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That's fiscal policy, not a rule of economics.

Regardless, spending money you don't have, long term, on consumer debt is not a winning strategy no matter how you look at it
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Old 03-13-2019, 05:47 PM   #24
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A social & economic crash is coming, & it will make 2008 look like Disneyland.
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Old 03-13-2019, 06:50 PM   #25
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Imagine if people making unwise auto loans through the economy into recession...
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Old 03-13-2019, 07:12 PM   #26
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Quote:
Originally Posted by suprf1y View Post
That's fiscal policy, not a rule of economics.

Regardless, spending money you don't have, long term, on consumer debt is not a winning strategy no matter how you look at it
Correct and agreed
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Old 03-14-2019, 08:19 AM   #27
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A social & economic crash is coming, & it will make 2008 look like Disneyland.
You could be right.

And you could be wrong.

Even the 'experts' can't predict it accurately and nobody saw the 08 crash coming. We all think we'll be smarter this time around, but we always think that, and we're always wrong
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Old 03-14-2019, 09:02 AM   #28
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Enter the yaris...
if america lessenss its car modification laws all our yarises could be the next best thing and the hottest secondhand tuner car to have on the market,


ADD A TELESCOPING STEERING WHEEL ALREADY.
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Old 03-14-2019, 09:13 AM   #29
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We're kinda lucky in Canada about that. Ontario anyway. The only times I hear of people getting fines for vehicle modifications is the guys with massive jacked diesel trucks with the dpf system removed. I've never heard of anyone getting a fine for too much power or having their car too low.
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Old 03-14-2019, 09:17 AM   #30
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We're kinda lucky in Canada about that. Ontario anyway. The only times I hear of people getting fines for vehicle modifications is the guys with massive jacked diesel trucks with the dpf system removed. I've never heard of anyone getting a fine for too much power or having their car too low.
its harder here in BOS because we have CARB now, which is great because now my same year same engine swap is more legally regulated and stuff. rather then being an open market and having hondas with just fart cans and cut springs, thank god.
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Old 03-14-2019, 09:58 AM   #31
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We just got rid of emissions testing. April 1st it's done!
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Old 03-14-2019, 02:08 PM   #32
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I remember when people were trying to get out of their large vehicles after Katrina + Rita . Used market flooded and book values plummeted with large SUVs' , etc.. Some even claimed their large vehicle stolen or set them on fire . Just a matter of time for the same scene with high gas prices . Also crazy how many are financing up to 7 or is it 8 years . Talk about being upside down at the end of the loan and get slammed on next loan . Amazing how short memories are . 3 crises due to high fuel cost and likely be others . Time to WAKE UP !
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Old 03-14-2019, 03:08 PM   #33
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We just got rid of emissions testing. April 1st it's done!
yeah we still have it here.
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Old 03-14-2019, 03:25 PM   #34
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Most people seem to need a $30-50K new vehicle in order to fit their ego comfortably - and are willing to drown in debt & interest-charges for that ego comfort. Same with their credit cards likely. I personally prefer to be 100% debt free & not paying interest charges to anyone, outside of a reasonable, modest house mortgage perhaps (or auto loan less than $15K over 36-48 months maximum). Better yet, get 1.5 to 5% cash back on your credit cards each month by charging everything possible that you normally would purchase each month & paying it all off each monthly statement cycle.
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Last edited by KALISPEL II; 03-14-2019 at 03:40 PM.
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Old 03-14-2019, 09:21 PM   #35
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Yes, that's exactly what I do with my credit cards. I charge as much as I can, get cash back, and I never carry a balance. Also, doing that establishes a good credit history. That's good for getting a great rate on a mortgage or other loans.
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Old 03-14-2019, 10:32 PM   #36
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I'm in a situation right now where I need a bigger vehicle (35-45k) for the growing family, which I can't afford.

I'm a year or so to finish paying for my 2010 Mazda 5, and I also spent a fuckton on repairs.

It's a huge debate for me now to get another used car vs spending more on a new car.

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