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America's Auto Loan Debt Is Truly Out Of Control

Discussion in 'Too Hot for Swamp Gas' started by studegator, Oct 3, 2019.

  1. wgbgator

    wgbgator Extremely Online Premium Member

    Yeah, I think this is true in general.
     
  2. channingcrowderhungry

    channingcrowderhungry Premium Member

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    Not sure your budget but you can find Things in pretty nice shape for 7k. It's a great vehicle for a beach neighborhood
     
  3. docspor

    docspor GC Hall of Fame

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    Thing of doom? Real question
     
  4. citygator

    citygator Premium Member

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    I know it’s juvenile but I laugh reading about dudes posting about their Things.
     
    • Funny Funny x 1
  5. channingcrowderhungry

    channingcrowderhungry Premium Member

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    When you consider its safety features, yes. 20190714_161400.jpg
     
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  6. channingcrowderhungry

    channingcrowderhungry Premium Member

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    Thing envy?
     
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  7. docspor

    docspor GC Hall of Fame

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    Thing of doom was a thing a HS school buddy fixed up & sold. We’d spot it now & then for at least a decade in the riverside area of jax. It said thing of doom on the hood.
     
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  8. CaptUSMCNole

    CaptUSMCNole GC Hall of Fame

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    I have a long commute for the last 10 years so I spent a lot of time on the highway and wanted to ensure I was in something that would allow me to survive if I was in a serious accident. I bought a '08 BMW X5 which I had until last year when it went over 200k. I would have had to put about $6k into it to pass a state inspection and was told it was only worth $3k at that point. I made the decision to replace it with a '14 X5 that was loaded that was around $25k.
     
  9. channingcrowderhungry

    channingcrowderhungry Premium Member

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    Coincidental, because I live in riverside and drive my Thing all around it. Never seen the Thing of Doom, though sounds awesome.
     
  10. AzCatFan

    AzCatFan GC Hall of Fame

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    Why buy new if the car loses 20% of value off the lot? 5-year and 10-year cost to own. Most cars start needing more expensive regular maintenance around the 3rd or 4th year, such as belt replacements. Most cars will also need some sort of mid-range to major repair around year 4. If you buy new, you push off these costs for as long as possible. Often times, if you do the math, the cost to own a new car versus used car for five years is often really close.

    Own the car for 10 years, and buying new is often less expensive all in, cost to own, than used. As a car ages, it will need more repair and maintenance. And a new car owned for 8 years, assuming the loan is paid off, will cost less than a used car that is 12 years old.

    Now, if you buy a used car every few years, then that's much better than buying a new car every few years. But if you are like me, and buy a new car and keep it for over a decade, it makes sense to buy new. Especially after the car is paid and there are no more payments to make.

    I drive a 2012 Civic Hybrid, 110,000 miles, paid off, and outside of regular maintenance, needed a mid-range repair that cost $350 last year. My wife drives a 2016 CRV that we traded our 2001 Civic that had 215,000 miles. Don't plan on buying anything for years, until long after the CRV is paid off.
     
  11. docspor

    docspor GC Hall of Fame

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    I knew you did that’s why I asked. After 50 plus years my mom moved to the Tampa area from St. John’s. Kinda makes me sad. I’m a third gen riversider
     
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  12. ValdostaGatorFan

    ValdostaGatorFan GC Hall of Fame

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    I have a 2004 Silverado with about 170k on it that is paid off that I use as my daily driver. I bought a 2006 Jeep LJ with 82k on it from High Springs, FL a couple years ago as a toy. Jeeps retain their value very well. It's very fun and I'm sure I could probably get most, if not all, of my money back out of it if I ever had to get rid of it.
     
  13. channingcrowderhungry

    channingcrowderhungry Premium Member

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    There's really no better place to live in Jax.
     
  14. demosthenes

    demosthenes Premium Member

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    I have a buddy that bought a Jeep Cherokee for $4 or $5k. He sold it a decade later for $500 more than he bought it. I told him he was an asshole because he fleeced a HS kid that saved up to buy his first car for an extra $500.
     
  15. CaptUSMCNole

    CaptUSMCNole GC Hall of Fame

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    How many posters on this board have to do a yearly vehicle inspection prior to being able to renew your registration?
     
  16. vaxcardinal

    vaxcardinal GC Hall of Fame

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    In maryland we just have emission inspections every 2 years.
     
    • Informative Informative x 1
  17. AzCatFan

    AzCatFan GC Hall of Fame

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    Arizona, it's emission inspections every year for cars that are 5 years or older.
     
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  18. homer

    homer GC Legend

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    The ones I looked at were at least twice that price.
     
  19. homer

    homer GC Legend

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    I drive a scooter. It’s slightly more dangerous that a thing.

    It would be a safety upgrade for me.

    Biggest thing though, pun intended, is I want it for local Gulf Blvd. traffic where the speed limit is 30 to 35 mph.
     
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  20. VAg8r1

    VAg8r1 GC Hall of Fame

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    In Virginia vehicle safety inspections are required annually. In counties/cities with high air pollution, emissions inspections are required every two years. A valid emissions inspection is required to renew registration, safety inspections are completely separate from vehicle registration.
     
    • Informative Informative x 1