captainPMG Archive

Upvotes	Title	Category	Author	Subreddit	Date (UTC)

Upvotes	Comment on	Subreddit	Date (UTC)
3	Finances under control Your point on the long term depreciation is a good one. And your final point, "if you are willing to pay for it, it matters not the least" is exactly what it all comes down to. I was trying to help OP. I'm usually just a lurker on reddit but thought I could provide some insight here. I've seen many friends wonder why they can't get out of the cycle of living paycheck to paycheck meanwhile they're driving a brand new car claiming that they "can afford" it because they have enough money to pay the…	/r/MarriedRedPill	20/09/16 08:49 PM
2	Finances under control You are missing the point. We are talking using leverage to buy a brand new car. Show me how that is a step toward getting insanely rich. Show me where I said there is no good reason to take on debt.	/r/MarriedRedPill	20/09/16 04:16 PM
2	Finances under control I appreciate your sincere response. I am not against financing and I agree that debt can be a very useful tool. However, you're comparing debt used for appreciating (usually) assets (houses) vs debt for depreciating assets (cars). What I'm saying is that buying a brand new car is pretty much the same as overpaying. If you disagree, go buy a brand new car and try to sell it the very next day. The new car depreciates so quickly up front because it was over priced for being new. A 1 year old car do…	/r/MarriedRedPill	20/09/16 02:45 PM
1	Finances under control I did assume OP was in a bad financial situation from the context of his post. I am still confident my assumption is correct. If my assumption is correct, that OP is trying to improve a bad situation, it would be financially responsible to buy a used car. The fact of the matter is that I'm not proselytizing about buying used cars. I'm saying that you were an idiot to get all shitty about "faggots" and "execs" and "bmws vs corollas" when the point is as simple as don't buy new when you cant affor…	/r/MarriedRedPill	18/09/16 11:12 PM
3	Finances under control Please explain why someone would give you a 0% loan for a car unless the car was selling for a price greater than the value of the car. I'll happily give you a 0% loan for a $5,000 car that I know is really only worth $1,000. I'll give you a 0% loan on anything you want to overpay for! You're correct, the depreciation rate has nothing to do with how the car is purchased. It has to do with what car you purchase. Buying a brand new car is the same as overpaying for a car. From the beginning of thi…	/r/MarriedRedPill	18/09/16 10:50 PM
4	Finances under control I did not say never finance a car. I said don't buy a new car - with cash or credit. A new car depreciates too fast. After a few years the depreciation levels out. Sure finance a used car if you have to or want to, but not a brand new car. Unless you have the money buy luxury items. Then by all means buy new.	/r/MarriedRedPill	18/09/16 10:33 PM
2	Finances under control Again, let's keep our discussion relevant to this conversation. OP said he was unsure he could afford the monthly payments on the new car. Obviously other people can afford to spend on luxury items. Implying that you are in a good financial position or that I am not is irrelevant. The point is that OP wants to go from a bad situation to a better one. To do that he should not be buying any more car debt than is absolutely necessary.	/r/MarriedRedPill	18/09/16 10:20 PM
3	Finances under control Yes, money depreciates over time due to inflation. But that car will depreciate much faster than the cash. Few things depreciate faster than a brand new car. That's how people get fleeced so easily here. Financially short-minded people, yourself included, get so wrapped up in the APR of the loan that they completely ignore what it is that they are financing (again, a QUICKLY DEPRECIATING asset). Why do you think car companies offer 0% interest loans in the first place? Because they are kind or s…	/r/MarriedRedPill	18/09/16 08:55 PM
1	Finances under control If OP is making payments, he does not "OWN" anything but debt. u/creating_my_life is giving good feedback to OP who obviously wants to learn about how to handle money. Knowing that you have bills is far from having finances under control.	/r/MarriedRedPill	18/09/16 08:38 PM
1	Finances under control Children should not get involved in adult conversations about finances. Go back to the playground with your insults and come back when you understand depreciation and the time value of money.	/r/MarriedRedPill	18/09/16 08:26 PM
4	Finances under control I'd say you recognized that you have finances. Based solely on what you've said here, I'm betting your finances are far from "under control". I commend you for taking a step in the right direction - recognizing that you should have your finances under control. However you seem to have a lot to learn. Being able to meet your financial obligations on a monthly basis does not mean you have your finances under control. Being able to make the monthly payment on a car does not mean that you can afford…	/r/MarriedRedPill	18/09/16 08:16 PM
3	Finances under control Debt is a valuable tool if used correctly. You're right, big companies do use debt, in a fanacially advantageous way. That does not prove anything in this situation. Financing a brand new car that depreciates incredibly fast is downright financially stupid.	/r/MarriedRedPill	18/09/16 08:03 PM