I Think I Want to Change Up Vehicles, Need Opinions

[FJohnny]

Get rid of both the big dollar vehicles and save the payments for braces and sports fees for your kids.

Get whatever car you want when you have the cash in hand to buy it. I have heard that some people who finance multiple cars aren't even millionaires when they want to retire. Be a millionaire. It's better. You will like it.

All the best.

 

[coposrv]

Get rid of both the big dollar vehicles and save the payments for braces and sports fees for your kids.

Get whatever car you want when you have the cash in hand to buy it. I have heard that some people who finance multiple cars aren't even millionaires when they want to retire. Be a millionaire. It's better. You will like it.

All the best.

Couldn’t agree more. Live your life from a position of **** you. Affordable house with a 25 year roof, Cheap jap econobox. Take risks from that position.


Sent from my iPhone using the svtperformance.com mobile app

 

[96 cobra]

Sell the truck and GT500.

 

[PaxtonShelby]

Haven’t had a car payment since 1996. Buy cheaper DD’s with cash... run them as long as you can...put as much $$$ into retirement and emergency fund savings as you can. 15-20 years of that and you’re damn near ready to retire, as that egg will grow almost on its own until you retire. Of course keep saving until retirement, knowing you are in a safe and stable place financially. During the “saving years” if you want a toy, buy it with cash or worst case put 50%+ down. Kids don’t get cheaper as they get older, so now is the time to save.

 

[5.0 Hatch]

I'd get rid of the gt500 for sure. I don't recommend finanicing a toy.

 

[gimmie11s]

LOL. In classic svtp fashion, the millionaires, “I don’t finance toys”, “kids first”, and “cash cash cash” types over take the conversation in droves.

OP.... my only advise is to do what is good for everyone your family (including you!). It is possible.

You are in your 30’s so save as much money as you can in your 401k but still spend some to enjoy “today”.

Tomorrow is not guaranteed. You have to live a little today because you may never be able to enjoy the $2m you plan to save when you hit 62.

All (most) things in moderation!


Sent from my iPhone using svtperformance.com

 

[coposrv]

LOL. In classic svtp fashion, the millionaires, “I don’t finance toys”, “kids first”, and “cash cash cash” over take the conversation in droves.

OP.... my only advise is to do what is good for everyone your family (including you!). It is possible.

You are in your 30’s so save as much money as you can in your 401k but still spend some to enjoy “today”.

Tomorrow is not guaranteed. You have to live a little today because you may never be able to enjoy the $2m you plan to save when you hit 62.

All (most) things in moderation!


Sent from my iPhone using svtperformance.com

I get what your saying, but having $1100/mo in car payments that get driven rarely is a waste for anyone. Sorry to sound too conservative but Having 3 kids a mortgage and payments on a gt500 and a lifted truck is absurd if you’re looking for long term financial stability.


Sent from my iPhone using the svtperformance.com mobile app

 

[RedVenom48]

Start with the truck, see how you feel about selling the Shelby after that.

 

[gimmie11s]

I get what your saying, but having $1100/mo in car payments that get driven rarely is a waste for anyone. Sorry to sound too conservative but Having 3 kids a mortgage and payments on a gt500 and a lifted truck is absurd if you’re looking for long term financial stability.


Sent from my iPhone using the svtperformance.com mobile app

Not absurd whatsoever if he and his wife knock down good salaries. $100k? $200k? More?

Now... if they make a combined $75k, I’m with you. I have a feeling that’s not the case however.


Sent from my iPhone using the svtperformance.com mobile app

 

[coposrv]

Not absurd whatsoever if he and his wife knock down good salaries. $100k? $200k? More?

Now... if they make a combined $75k, I’m with you. I have a feeling that’s not the case however.


Sent from my iPhone using the svtperformance.com mobile app

200k combined. No. Still dumb.


Sent from my iPhone using the svtperformance.com mobile app

 

[gimmie11s]

200k combined. No. Still dumb.


Sent from my iPhone using the svtperformance.com mobile app

Lol. You have no comprehension of what that means I can see.

$200k combined means taking home well over $10k per month after taxes which leaves plenty for a massive house and a few thousand put away into savings.

$1100 in car payments at that point seems normal.

Think of it this way. It is not unusual for a high level business man making $200k (Director, VP, higher) to lease ONE car at this price. Happens all the time.




Sent from my iPhone using the svtperformance.com mobile app

 

[coposrv]

Lol. You have no comprehension of what that means I can see.

$200k combined means taking home well over $10k per month after taxes which leaves plenty for a massive house and a few thousand put away into savings.

$1100 in car payments at that point seems normal.

Think of it this way. It is not unusual for a high level business man making $200k (Director, VP, higher) to lease ONE car at this price. Happens all the time.




Sent from my iPhone using the svtperformance.com mobile app

I know exactly what it means. And yeah...sinking 10% of my net profit into depreciating assets with interest is a great move. What school of business did you learn these tactics at?


Sent from my iPhone using the svtperformance.com mobile app

 

[coposrv]

$1100 in car payments at that point seems normal.





Sent from my iPhone using the svtperformance.com mobile app

And who said normal is wise?


Sent from my iPhone using the svtperformance.com mobile app

 

[earico]

Tomorrow is not guaranteed. You have to live a little today because you may never be able to enjoy the $2m you plan to save when you hit 62.

All (most) things in moderation!

^ solid advice right there. It's all about balance. Enjoy some now and save some for later.

I'd ditch the truck first. 6.4s are time bombs anyways. I'm about to unload mine at 95k miles because of that.

 

[gimmie11s]

I know exactly what it means. And yeah...sinking 10% of my net profit into depreciating assets with interest is a great move. What school of business did you learn these tactics at?


Sent from my iPhone using the svtperformance.com mobile app

Do you ride a bicycle everywhere you go?

Most all cars are depreciating assets. They’re toys or tools for work. Period.

No one said buy them to get rich.

My advise was spend some now and save some for later at the same time. It’s possible.




Sent from my iPhone using the svtperformance.com mobile app

 

[coposrv]

Do you ride a bicycle everywhere you go?

Most all cars are depreciating assets. They’re toys or tools for work. Period.

No one said buy them to get rich.

My advise was spend some now and save some for later at the same time. It’s possible.




Sent from my iPhone using the svtperformance.com mobile app

The guy has a paid off perfect daily driver. I just suggest he use that asset to his advantage. The OP himself said he made the purchase on the truck when he was young and foolish. All I’m saying is don’t spend like that on debt liabilities and expect to be stable. You don’t have to live in a card board box and save every penny, but unless it makes money, or have investments that out weight the interest your paying on these liabilities it’s not worth it IMO. I’ll take financial flexibility over the limited fun provided from a vehicle ten times out of ten.


Sent from my iPhone using the svtperformance.com mobile app

 

[Zemedici]

Dump the truck, and maybe the GT500 too. Stash money back for a bit (the $$ you save on those payments) and add to money from selling vehicles = paying cash for new badass daily?

 

[gimmie11s]

The guy has a paid off perfect daily driver. I just suggest he use that asset to his advantage. The OP himself said he made the purchase on the truck when he was young and foolish. All I’m saying is don’t spend like that on debt liabilities and expect to be stable. You don’t have to live in a card board box and save every penny, but unless it makes money, or have investments that out weight the interest your paying on these liabilities it’s not worth it IMO. I’ll take financial flexibility over the limited fun provided from a vehicle ten times out of ten.


Sent from my iPhone using the svtperformance.com mobile app

So we don’t disagree.


Sent from my iPhone using the svtperformance.com mobile app

 

[coposrv]

So we don’t disagree.


Sent from my iPhone using the svtperformance.com mobile app

Our opinions are not far off, it all depends on someone’s income. I do feel like that much in car payments is extravagant though.


Sent from my iPhone using the svtperformance.com mobile app

 

[noco5.0]

These threads always crack me up. People leave out a few things like make more money if you can't afford things you want. My wife and I make good money and drive newer cars. She still commutes in a VW Passat though, no sense tearing up a high dollar vehicle running up and down the highway going to work everyday. I also see people who are supposedly on top of things financially putting tons of money in their overpriced house,yet advise people to drive crap cars because they are a depreciating asset. Find a decent house you like and fix it up/maintain it as you go. I have no interest in driving crap cars because I'm house poor. People also throw away tons of money on stupid vacations. We travel primarily to see family and go places we haven't been, but I would never squander thousands to go sit on a beach in some third world country or ride around in a boat heading towards some third world country. Just my opinion I agree you only live once, but life is about choices if you are into cars spend your extra money on cars.