What do you pay for car/insurance monthly?
#31
11-18-2005, 02:39 PM
Car payments can not tell the whole story. For example, many of us who own houses can or have used equity in the house to pay for car loans. It is a big temtation that I have right now. So, technically, there is no car payment, but there really still is. I could make my car loan go away from my home equity line of credit and my car payment would go from $289 per month to about $45 per month, but the principle would never change. I am not saying it is a bad idea, but owning a home gives you options.
#33
11-18-2005, 03:03 PM
Guest
Posts: n/a
Originally Posted by MT's#1Customer!
You guys know that financial advisors recomend that your total car expenses (payment plus insurance) should not be more then 10% of your income?
Think about how much house you could buy with $400 - $500 per month? It might not sound like much, but that is an $80,000 - $90,000 mortgage. Now consider with property values going up even in cheap areas as much as 10 - 20% per year, think of how much money you are really loosing. Kind of scary isn't it.
(not directing this at anyone in particluar as I would have no way of knowing what people make, but just food 4 thought)
Think about how much house you could buy with $400 - $500 per month? It might not sound like much, but that is an $80,000 - $90,000 mortgage. Now consider with property values going up even in cheap areas as much as 10 - 20% per year, think of how much money you are really loosing. Kind of scary isn't it.
(not directing this at anyone in particluar as I would have no way of knowing what people make, but just food 4 thought)
Hell man, my mortgage is a quarter million. <rofl> Thats how we roll in colorado, aint that right springsstang???????????
So lets break this down, yer saying 10% of gross income? per month?
lets see.... add those... carry the 2.....
that means i overshot my 10% mark by 47 dollars. <rofl>
EDIT: Oops! I forgot my insurance. So i'm spending 167 a month more than i should...... ****, it is worth it. <ROFL>
I'll survive.
#34
11-18-2005, 03:11 PM
Originally Posted by slappy
80-90,000 mortgage? LOL, that will buy you a tin shack in the crappy part od denver if you have a GOOD agent. ROFL>
Hell man, my mortgage is a quarter million. <rofl> Thats how we roll in colorado, aint that right springsstang???????????
Hell man, my mortgage is a quarter million. <rofl> Thats how we roll in colorado, aint that right springsstang???????????
#35
11-18-2005, 03:14 PM
$80,000-90,000 mortage! OH my god wouldn't that be nice.....I live in the SF Bay area and the AVERAGE price of a home is $615,000...Yes I said Average....ouch huh! I make quite a bit of money and I still can't afford to buy a freaking condo cause they still cost at least $400,000 and that's for an old beat up condo...I live with my Girlfriend in a pretty nice apartment complex and we pay $1,400 a month for rent! That's crazy huh, but that's not even that bad for the Bay Area. The thing that sucks is I could afford a freaking huge house in many parts of the country, but can't even get a condo here! Oh well....anway, back to the orginal question....
$386 car payment
$130 full coverage and $500 deductible
$386 car payment
$130 full coverage and $500 deductible
#36
11-18-2005, 03:31 PM
Guest
Posts: n/a
Originally Posted by SpringsStang
lol yep, I have one of the smallest houses in my neighborhood, $375,000
Yeah housing out here is way expencive. When we first moved to the springs in 1987 my pops bought a house in briargate for about 90k. They sold it in 1997 for roughly 250,000. i bet today that house is easily 350+
I had a military buddy i keep in touch with, he lives in missourri i think. anyway, he bought a house around the time i did, i asked him about it and it was very comparable to mind in size, but he had like, 5 acres of property. He told me he spend 45k on the house. He asked me how much i spend on mine and i was all "quarter mil"
Steve was all "GAWD DAAAAAAEEEEMMMM MAAAEEN!!!!! YOU GOT YERSELF A 10 ROOM MANSION WITH MARBLE PILLARS AND A BUTLER WITH THAT PRICETAG???????????"
Heh. I told him about my house he couldnt freakin believe how expencive it was. <LOL> Then you got a guy like jjtgiants who would think my price tag was the deal of the century!!
Here are some pics of what 250,000 gets in littleton. It aint much, but its home
and a lil somethin extra. <ROFL>
#39
11-18-2005, 06:41 PM
Originally Posted by MTShambles
But are you under your parents plan?
And is the car in your name?
And is the car in your name?
#40
11-18-2005, 06:43 PM
Originally Posted by SpringsStang
lol yep, I have one of the smallest houses in my neighborhood, $375,000
#42
11-18-2005, 07:48 PM
Originally Posted by dannyb785
wtf how old are you? you musta be like 50 yrs old w/ no record and a $1000 deductable
#43
11-18-2005, 07:55 PM
The $80 - 90k number was only used to show how much of a mortgage you could buy with a new Mustang car payment. Sure, you can't buy a house for that in many places. $80k will get you one here, but not the best one, but at least it is a house.
Either way, living in San Francisco and buying a house with a few friends to pool resources is a lot better investment then a car. Especially in a high cost area where property values are going up as much a 50% a year.
There is a term called "defered enjoyment." It is actually a real term. It simply means putting off somethin you want now so you can have something much better later.
Either way, living in San Francisco and buying a house with a few friends to pool resources is a lot better investment then a car. Especially in a high cost area where property values are going up as much a 50% a year.
There is a term called "defered enjoyment." It is actually a real term. It simply means putting off somethin you want now so you can have something much better later.
#45
11-19-2005, 12:06 AM
Originally Posted by dannyb785
It's KINDA HARD NOT TO!!!!
#46
11-19-2005, 12:08 AM
Originally Posted by MT's#1Customer!
Some of these insurance rates are scary. Some of you guys should be riding bikes. I fear most of what you make goes to the car. That is a tough hole to get out of.
#48
11-19-2005, 08:53 AM
slappy wtf. wtf do you do? That house is fuggin NICE and PLUS u got yer stang and bronco...and u just broke up w/ yer girl. so where do u work? do u have roomies or somethin bc I bet you dish out a hella lot of money per month
#51
11-29-2005, 01:18 PM
you guys are gonna hate me but im 19 and i'm lucky enough to have my parents buy my car and pay for some insurance.
all I pay is 45 bux a month to my rents.
all I pay is 45 bux a month to my rents.
#53
11-29-2005, 01:48 PM
This is what 115K will buy you in Indiana.
2 years old, 1500 sq ft, 3 br, 2 ba, 2 car garage.
Oh yeah
Car Payment - 0
Insurance - $80/month
25 clean record.
2 years old, 1500 sq ft, 3 br, 2 ba, 2 car garage.
Oh yeah
Car Payment - 0
Insurance - $80/month
25 clean record.
#55
11-29-2005, 02:08 PM
Originally Posted by 04DarkShadowGT
This is what 115K will buy you in Indiana.
2 years old, 1500 sq ft, 3 br, 2 ba, 2 car garage.
Oh yeah
Car Payment - 0
Insurance - $80/month
25 clean record.
2 years old, 1500 sq ft, 3 br, 2 ba, 2 car garage.
Oh yeah
Car Payment - 0
Insurance - $80/month
25 clean record.
#57
11-29-2005, 05:14 PM
CAR -- $0
INS. -- $ 112 MO. After reading a few of these rates , I getting ripped off, I'm 48 w/ clean record !
INS. -- $ 112 MO. After reading a few of these rates , I getting ripped off, I'm 48 w/ clean record !
