Bye Yaris, Hello Eclipse

[shinlee]

Originally Posted by BailOut

Living on borrowed money is the reason the global economy is in such trouble.

There is a time and place for borrowing, but if you have to borrow for something then perhaps you shouldn't be buying that item, at least not right now.

ugh, don't preach to people about what they want to do with their credit and their oweing others cash....

and jeez, just because it might not get rave reviews doesn't mean the car sucks, so don't knock his choice either... obviously he wanted a faster car, and he said screw the mileage.... you know, I bet he doesn't turn his car off at stop lights either, and runs the a/c ALL the time too

[tomato]

Originally Posted by shinlee

ugh, don't preach to people about what they want to do with their credit and their oweing others cash....

and jeez, just because it might not get rave reviews doesn't mean the car sucks, so don't knock his choice either... obviously he wanted a faster car, and he said screw the mileage.... you know, I bet he doesn't turn his car off at stop lights either, and runs the a/c ALL the time too

IMO BailOut's right. You can see it as preaching if you want, but it's really good advice.

Saving up to buy stuff (rather than acquiring more debt) FTW !

Did you know that the main reason behind the Great Depression and the economic collapse we had 2 years ago (and are still in actually) was *borrowed money* ?

[1stToyota]

Originally Posted by tomato

IMO BailOut's right. You can see it as preaching if you want, but it's really good advice.

Saving up to buy stuff (rather than acquiring more debt) FTW !

Did you know that the main reason behind the Great Depression and the economic collapse we had 2 years ago (and are still in actually) was *borrowed money* ?

But everybody that saves up to pay cash for big ticket stuff like cars and homes, raise your hands. My guess, not too many.

My credit score is 798, I wait for super low financing (sometimes 0%), make low payments, save my cash reserve.

Main reason for the collapse wasn't because they loaned out the money, it was because they were too greedy to use a little discretion before they loaned out the money. Instead of using some common sense and advising the customer to settle for less, something that their budget could afford, they pushed through a sale they knew would most likely go belly up.

OP didn't ask for financial advice, that's what a CPA is good for. On a MB they were probably expecting just the traditional response.

[tomato]

Originally Posted by 1stToyota

But everybody that saves up to pay cash for big ticket stuff like cars and homes, raise your hands. My guess, not too many.

My credit score is 798, I wait for super low financing (sometimes 0%), make low payments, save my cash reserve.

That's a very clever strategy, of course, but you know that's not what we were talking about, right?

You're right most people have to borrow money to buy big ticket items.

It's just you have to be a little savvy about it.

What you said (in bold) for instance, makes a lot of sense. Now I don't suppose you get a credit score of 798 buy borrowing from day one without worrying about paying anything back.

[1stToyota]

Originally Posted by tomato

That's a very clever strategy, of course, but you know that's not what we were talking about, right?

You're right most people have to borrow money to buy big ticket items.

It's just you have to be a little savvy about it.

What you said (in bold) for instance, makes a lot of sense. Now I don't suppose you get a credit score of 798 buy borrowing from day one without worrying about paying anything back.

I think we're on the subject of a guy getting the treatment/business [financial advice] for simply saying "Hi, look at my new car" ...it's his money, none of our business what he chooses to do with it.

And actually, yes, I got that credit score by borrowing from day one, applying for credit, on anything I could, working my way up to a $46K credit limit on one of my CCs [Visa] by the time I was 25, and that was a lot of money back when I was 25...one trick to a good score is to have lots of credit established, but have LOTS of available credit still left, and always pay on time, of course.

[tomato]

Originally Posted by 1stToyota

I think we're on the subject of a guy getting the treatment/business [financial advice] for simply saying "Hi, look at my new car" ...

.

I didn't read it that way but whatever

that's why they call them "opinions" everybody's got one

[BailOut]

Originally Posted by 1stToyota

I think we're on the subject of a guy getting the treatment/business [financial advice] for simply saying "Hi, look at my new car" ...it's his money

The financial discussion (which you have become the major contributor to) was begun by and aimed at jambo101 rather than the OP.

Perhaps you should also research the financial crisis some more as you seem to have only partial knowledge of it (the consumer facet). Please look into margins, derivatives, hedge funds and CDOs. All of these things played a huge role in the financial crisis and had not one iota to do with consumers. I would also recommend researching how banks operate, in particular their practice of inter-bank lending against monies owed to them rather than monies they actually have (another form of margin usage which played a large role in the financial crisis and had not one iota to do with consumers).

[1stToyota]

Originally Posted by BailOut

The financial discussion (which you have become the major contributor to) was begun by and aimed at jambo101 rather than the OP.

Yeah, if you'd like to get technical about it. In actuality, it's just more of you repeating yourself.

On another recent thread, immediately after someone purchased a new car:
http://www.yarisworld.com/forums/sho...28&postcount=5

Perhaps you should also research the financial crisis some more as you seem to have only partial knowledge of it (the consumer facet). Please look into margins, derivatives, hedge funds and CDOs. All of these things played a huge role in the financial crisis and had not one iota to do with consumers. I would also recommend researching how banks operate, in particular their practice of inter-bank lending against monies owed to them rather than monies they actually have (another form of margin usage which played a large role in the financial crisis and had not one iota to do with consumers).

Sure. Yes sir, I'll get right on those recommendations. *flush*

[bkrownd]

Originally Posted by 1stToyota

But everybody that saves up to pay cash for big ticket stuff like cars and homes, raise your hands. My guess, not too many.

Ooooh! Ooooh! Meee! MeMeMeeeee!