One Trillion

[Bob_VT]

Well what pisses me off is the fact that I pay my bills on time....have never de-faulted on anything ..... don't make much money and I will just never get ahead.... but I am following the example I was taught ..... get married, kids, buy a home but now retirement is going to be when I eventually drop dead.

Now take the greed factor and look at the world. People with get rich quick schemes flipping houses and buying things they could never pay for..... the auto makers doing subvented leasing and rolling that over and over.... it has caught up.

I sincerely think the good old days were when interest rates were higher..... I remember that if you got a 15% rate on a car loan that was good. Then again that was only on a 3 year loan. Now people are getting cars for 6 and 7 years..... spending money on an asset that depreciates ????? for the next 6 or 7 years!!!!

[Shroomster]

Originally Posted by Bob_VT

Well what pisses me off is the fact that I pay my bills on time....have never de-faulted on anything ..... don't make much money and I will just never get ahead.... but I am following the example I was taught ..... get married, kids, buy a home but now retirement is going to be when I eventually drop dead.

Same thing I was taught

Originally Posted by Bob_VT

I sincerely think the good old days were when interest rates were higher..... I remember that if you got a 15% rate on a car loan that was good. Then again that was only on a 3 year loan. Now people are getting cars for 6 and 7 years..... spending money on an asset that depreciates ????? for the next 6 or 7 years!!!!

call it depreciation all you want it's just a lable...My Wife and I had three choices:
1. get a new car w/o any major defects/needed work and pay it off over 6 years

2. pour money into a car with a failing engine and transmission (total parts would be well out of immediate liquid financial availability = no way in hell to come up with 3-4k on the spot)

3. find an alternate mode of transportation that is both safe & reliable (no way is she riding the bus or a bike in this neighborhood)


I'm not disagreeing with you I'm just saying for every opinion there is an explanation that falls outside the noted solution.

[Bob_VT]

Originally Posted by Shroomster

Same thing I was taught



call it depreciation all you want it's just a lbel...My Wife and I had three choices:
1. get a new car w/o any major defects/needed work and pay it off over 6 years

2. pour money into a car with a failing engine and transmission (total parts would be well out of immediate liquid financial availability = no way in hell to come up with 3-4k on the spot)

3. find an alternate mode of transportation that is both safe & reliable (no way is she riding the bus or a bike in this neighborhood)


I'm not disagreeing with you I'm just saying for every opinion there is an explanation that falls outside the noted solution.

Okay so you had a need to ne filled. What about the person who is maxed out ...... owes money on the current vehicle and then is talked into leasing or buying for a few bucks a week more ....... under the impression the economy would get better. These are people not buying with their brain but with an impulse and desire.

Hell I know my credit is good and I would love a nice Mercedes but my entire life would be around that payment....... I refuse to be held hostage to desire.

I'm not trying to pick a fight but answer this honestly...... don't you feel that many people will always take the easy way out with a lower payment for a longer period of time? That also means higher insurance premiums for longer and mandatory repairs. The "average" warranty is 3/36 and powertrain averages are 5/60.... sometimes they are gambling without thinking through the entire picture.

Take the person who can afford a yaris at about $14K but for an additional couple of years and a few bucks more they can buy a car for $20K..... not that the need is there but they do it on desire! Why in the hell does a family of 2 or 3 need a $40K truck or SUV when the cheaper car does the same thing.

[Shroomster]

Originally Posted by Bob_VT

Okay so you had a need to ne filled. What about the person who is maxed out ...... owes money on the current vehicle and then is talked into leasing or buying for a few bucks a week more ....... under the impression the economy would get better. These are people not buying with their brain but with an impulse and desire.

Hell I know my credit is good and I would love a nice Mercedes but my entire life would be around that payment....... I refuse to be held hostage to desire.

I'm not trying to pick a fight but answer this honestly...... don't you feel that many people will always take the easy way out with a lower payment for a longer period of time? That also means higher insurance premiums for longer and mandatory repairs. The "average" warranty is 3/36 and powertrain averages are 5/60.... sometimes they are gambling without thinking through the entire picture.

Take the person who can afford a yaris at about $14K but for an additional couple of years and a few bucks more they can buy a car for $20K..... not that the need is there but they do it on desire! Why in the hell does a family of 2 or 3 need a $40K truck or SUV when the cheaper car does the same thing.

No, I understand and see your points, I just don't know how to properly classify desire vs. necessity when talking about a large scale of people

[GeneW]

Originally Posted by Bob_VT

Well what pisses me off is the fact that I pay my bills on time....have never de-faulted on anything ..... don't make much money and I will just never get ahead.... but I am following the example I was taught ..... get married, kids, buy a home but now retirement is going to be when I eventually drop dead.

Retirement, Bob, is a recent historical thing. Most people died young or worked well into their elder years. I think retirement is a second childhood and is usually a horrifying experience, one that accelerates degeneration.

I never expected to retire. My parents are in their early seventies, both work and one is in Grad School. So for me this isn't big shakes.

Gene