Author Topic: Here you see the $87,100 F-450  (Read 1125 times)

ergophobe

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Re: Here you see the $87,100 F-450
« Reply #15 on: January 04, 2018, 06:47:07 PM »
Really, the car is a second living space for many people.

Actually, for a fair number of people we know, it is the primary living space.

littleman

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Re: Here you see the $87,100 F-450
« Reply #16 on: January 05, 2018, 12:19:32 AM »
>for a fair number of people we know, it is the primary living space.

Are you talking people stuck in their cars for most of their non-work and non-sleep hours or about homeless people?

Travoli

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Re: Here you see the $87,100 F-450
« Reply #17 on: January 05, 2018, 03:05:12 AM »
>F750
>Living space

Yes please.

https://earthroamer.com/xv-hd/

ergophobe

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Re: Here you see the $87,100 F-450
« Reply #18 on: January 05, 2018, 06:54:42 PM »
>for a fair number of people we know, it is the primary living space.

Are you talking people stuck in their cars for most of their non-work and non-sleep hours or about homeless people?

People who are homeless by choice. All climbers or other outdoor athletes for whom living in a city is onerous.

A friend who got divorced and basically moved into a Prius (that's extreme), but when she needs space to get work done, she takes an AirBnB or she might sublet here and there for a month or two. She's a photographer and just brought her expenses way down so she could spend most of her time climbing.

Another friend works in rope access (i.e. rigging for wind turbines, cell towers, sports events, etc). When he's on assignment, he gets a per diem and if it's far away, lives in a hotel. If it's close enough, he lives in his Sprinter van and pockets the per diem. As a general rule, his goal is to work as much as he has to to keep benefits and spend the rest of his time climbing.

Another friend is a hardcore ultrarunner. She is a software engineer for a well-known tech company, remotely from her van. She puts in a few days of work, then goes and runs 100 miles in the snow (seriously) and then back to the van to crank out code.

One friend now has two kids, but before that he spent most of his year living in a van despite owning two houses. There are two others who are more friends of friends or acquaintances who have enough money to buy houses, but mostly live in their vans. One actually started an environmental foundation with something like $300,000 of his own money because he was getting tons of sponsorship money, but was living on $20K/ year in his van.

I could go on. There is a sector of our society for which this is a relatively normal choice. It usually comes to an end when they have kids.
« Last Edit: January 05, 2018, 07:06:30 PM by ergophobe »

ergophobe

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Re: Here you see the $87,100 F-450
« Reply #19 on: January 05, 2018, 07:04:09 PM »
BTW, these stories are not mine to tell, but one is documented enough in the public that I might as well. This is a case of a friend of friends, who I don't know personally. I mentioned the foundation... That's this guy
http://www.honnoldfoundation.org/news/

Here's a short video on his van life from the Econoline days. Like most climbers who've "made it," he has upgraded since
https://www.outsideonline.com/1868556/alex-honnolds-van-life

There are many other videos as he is probably the most famous climber in the world right now.

littleman

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rcjordan

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Re: Here you see the $87,100 F-450
« Reply #21 on: February 03, 2018, 01:31:36 PM »
Quote
Approximately 20% of new car loan originations are made to sub-prime borrowers.

These loans were not made by traditional banks or credit unions, but by auto finance companies such as car dealers.

U.S. Household Debt Reaches Record $13 Trillion: Watch Subprime Auto Loans

https://www.forbes.com/sites/zackfriedman/2017/11/14/debt-auto-loans/

Travoli

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Re: Here you see the $87,100 F-450
« Reply #22 on: February 03, 2018, 04:58:33 PM »

rcjordan

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Re: Here you see the $87,100 F-450
« Reply #23 on: February 03, 2018, 05:00:35 PM »
>1/3 of trade-ins are rolling negative

holy crap.

littleman

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Re: Here you see the $87,100 F-450
« Reply #24 on: February 03, 2018, 05:49:12 PM »
>holy crap.

I just don't understand how people could sign up to be chained to an anchor like that.

buckworks

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Re: Here you see the $87,100 F-450
« Reply #25 on: February 03, 2018, 08:52:06 PM »
One of my sons is a financial planner and he says that one of the worst and most common financial mistakes is "too much car".

A vehicle is a depreciating asset, no matter what the price level.

Travoli

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Re: Here you see the $87,100 F-450
« Reply #26 on: February 04, 2018, 12:26:10 AM »
>I just don't understand how people could sign up to be chained to an anchor like that.

It's all about the monthly payment. Number of months doesn't matter.

"People would come in with $700 payments and $10,000 negative equity looking to lower their payments with no money down."

https://www.autoblog.com/2018/01/29/trade-ins-car-deal-underwater/

ergophobe

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Re: Here you see the $87,100 F-450
« Reply #27 on: February 04, 2018, 01:51:48 AM »
It's all about the monthly payment.

The few times I've gone shopping for new cars at dealerships, they always ask "what are you looking for for a monthly payment?" When you explain that you want a price, then you'll talk about financing, they start doing all sorts of funny dances.

One salesman was trying to sell me a fancy used car and when I said that I could have an unfancy new car with a full warranty for less, he said he could "throw in an extended warranty" on the used car. He came back with a big smile and said the sales manager was able to throw the extended warranty in and get us out the door for $$$ per month.

When I reminded him that I specifically said I care only about total price, not monthly payment, his face darkened. He came back with the price breakdown where it showed that they had thrown in the extended warranty for $6000.

Sadly, they do this because it works.

rcjordan

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littleman

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Re: Here you see the $87,100 F-450
« Reply #29 on: February 04, 2018, 03:57:00 AM »
I sold cars right out of high school.  I worked at a local Food dealership and sold both new and used vehicles.  I made pretty good money for an 18 year old kid but I had to quit after a while because the lack of morality in the process was starting to get to me.

Four square must go way back, because it was in full force back then.