Author Topic: America's Auto Loan Debt Is Truly Out Of Control  (Read 1050 times)

ergophobe

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Re: America's Auto Loan Debt Is Truly Out Of Control
« Reply #15 on: October 04, 2019, 03:49:19 AM »
>>if it gets a scratch you could just shrug it off... liberating

So true!

My car was recently hit in the parking lot and a good Samaritan left a note with the license plate of the perpetrator. I looked around and realized I couldn't possibly pick out any new scratches from the old dents and scratches and threw the paper away. I had another car I bought for $750. It was hit in a hit and run, a neighbor got the license plate and called it into the police and I got $1500 to repair it. I went to the junk yard, spent $25 on  tail light, hammered out the dent with a 2x4 and a sledge hammer. Actually doubled my money on that car and gave it to a friend in need when I moved to Switzerland.

rcjordan

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Re: America's Auto Loan Debt Is Truly Out Of Control
« Reply #16 on: October 04, 2019, 02:16:34 PM »
3yrs ago, my 2010 Dodge van was hit pretty hard in the right rear quarter panel.  I let the appraiser take pix, then I took it to the house, parked it in the summer sun, then popped the plastic shroud back into place with a couple of crowbars.  It's barely noticeable and I pocketed $1600.

DrCool

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Re: America's Auto Loan Debt Is Truly Out Of Control
« Reply #17 on: October 04, 2019, 04:34:30 PM »
>>EVERY SINGLE VEHICLE in that section is nicer than mine

My 2003 Honda Odyssey and 76 Ford pickup agree with this. I wouldn't care at all if one of those got a ding in it. No reason to get a nice car when it will just be filled with goldfish crumbs and spilled apple juice from the kids.

I live in a pretty standard suburban neighborhood that seems to have a fairly high number of older people and retirees. Most of their vehicles are pretty sensible (5-10 year old hyundais, 15 year old pickups, etc.). But drive 5 minutes to a newer neighborhood with younger families and you see a bunch of $50K+ trucks, SUVs, crossovers, etc.

littleman

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Re: America's Auto Loan Debt Is Truly Out Of Control
« Reply #18 on: October 04, 2019, 07:49:27 PM »
Seems a lot of us think the same on this issue.   8)

Our household car inventory:
2008 Scion XD -- only car we ever bought new, but paid cash
2002 Honda Civic, bought it for $2k
1974 260z with a 350 small block Chevy

Drastic

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Re: America's Auto Loan Debt Is Truly Out Of Control
« Reply #19 on: October 05, 2019, 01:00:53 PM »
>1974 260z with a 350 small block Chevy

Well, hello there.

rcjordan

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Re: America's Auto Loan Debt Is Truly Out Of Control
« Reply #20 on: October 05, 2019, 05:48:14 PM »
>talk to my kids

Send your older ones to lurk on this /r/ but advise them that they should be looking for common issues posted by younger redditors.  It can be an eye-opener.

https://www.reddit.com/r/Frugal/new/

littleman

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Re: America's Auto Loan Debt Is Truly Out Of Control
« Reply #21 on: October 05, 2019, 10:29:02 PM »
>Well, hello there

Little cars with big engines are fun.

That sub is pretty good RC.

rcjordan

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Re: America's Auto Loan Debt Is Truly Out Of Control
« Reply #22 on: October 05, 2019, 10:44:31 PM »
> sub

I check it 3 or 4 times a week.  The big topics are what you'd expect; rents, food, transportation, utilities, appliances, furnishings.  As a parent, the best part it is that your kid can't accuse you of making stuff up to scare them about finances.

> Z

I was going to buy a 240 Z but they were selling at a premium --just too many being sold for my liking.  I bought a Saab Sonett instead.
« Last Edit: October 05, 2019, 10:46:53 PM by rcjordan »

littleman

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Re: America's Auto Loan Debt Is Truly Out Of Control
« Reply #23 on: October 06, 2019, 04:40:59 AM »
The Sonett is an interesting car.  I don't think I know of any other car that is front wheel drive, has a V4 and looks like a sports car.


rcjordan

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Re: America's Auto Loan Debt Is Truly Out Of Control
« Reply #24 on: October 06, 2019, 01:55:00 PM »
>Sonett

All fiberglass body, too.  *Very* peppy, but top end was only 110 mph (which cost me a ticket that took my license because I couldn' t outrun the highway patrol in it. But that's another story.)

It was one of my favorite cars. Somewhat trouble-free (for the era, especially compared to English sports cars). Alternators & starters were expensive, though --about 4 x the price of domestic (Bosch). 

The Sonett saved my bacon during the OPEC gas shortage.  IIRC, it had a 15 gallon tank and got over 30 mpg ...unheard of mileage for the 70s.