1.49% loan for 60 months at Stanford credit union

[ct101]

It doesn't require an advanced degree in finance to understand these basic concepts: don't spend more than you make. Do that and things like inflation, stock market collapse, housing market bubbles... none of it matters. A couple of decades ago I thought this same way. I was young and fell for this same BS logic and when 2008 hit my world collapsed. This idea that playing spreads on interest rates will burn you. Learn from history or repeat it.

As for being a financial genius for buying used cars... I wouldn't go that far. When you compare the fact that I make tens of thousands of dollars in a segment that 99% of people lose tens of thousands of dollars though you can see how the delta can be substantial enough to make a difference in one's net worth. Weekly I have conversations with people who ask me how I do it and say they just "can't get ahead" when they drive two new vehicles every 6-12mos and then act clueless as to where all of their income goes at the end of the month.

It's pitiful how simple it is to be successful with money but I guess that's not the glamorous thing and doesn't impress any neighbors so it's not the popular path. People just want to borrow up to the limit they can afford each month and worry themselves into an early grave over stupid financial issues they brought on themselves.

Then they want people like us who have been smart about money to bail them out for their lack of financial intelligence even at a basic level. That's when the conversation gets irritating.

Your statement about "once you've made the decision to buy new" is akin to deciding to drive your car into a cement wall and now the argument is about if 50mph is safer than 55mph. I'll just avoid the wall entirely since it's an easy decision to make.

Oh my god dude. Just because you might be right about a few things in theory doesn’t mean that’s how everyone else lives their life and doesn’t mean you don’t sound freaking intolerable, and you sound pretty freaking intolerable.

Not all money is a damn investment. No kids, not looking to leave anything to anyone when I die. You enjoy building up that nut for the great beyond, I’ll have fun on my way there.. You sound like the kind of guy who wouldn’t pay for good tickets to a show or for a first class flight or a decent hotel room because of the lack of ROI. Had a friend like that I used to travel with until I realized everything was about save-a-buck and the trips were miserable - I don’t go anywhere with him anymore.

The thing you don’t seem to get is that’s not the point for a lot of folks. If it makes you happy, good. Having something new and not buying someone else’s problems is worth at least 1.49% to me. Being a chiseler isn’t a virtue to everyone.

You know you’re on the Tesla Model S forum, right? Ain’t nothing going on here about “needs”. A Toyota Camry is quite sensible, why don’t you take your holier-than-thou routine to those forums?

And JFC lighten up a little, you may find it’s better for you than that cash buried in your backyard.

 

[captanzuelo]

I like the new car smell. I’ll gladly take the 20% depreciation on a $80k car versus sitting in someone elses seat(thats been farted on)

 

[Kablaam]

Not everything in life is about making money/saving money. I presume you make your own coffee vs going to a coffee shop to save 3 bucks, never go out to eat to save the money and invest the difference, don’t have a nice watch, don’t have nice clothes , never go on a nice vacation?

some people like a new car, with the latest tech, safety, driving dynamics etc.

Enjoy your life the way you want it, no one needs to hear your critical judgments on how we live ours

enjoy your day

 

[Ostrichsak]

Clearly no one is taking your advice here.
There isn’t a blanket statement that covers all bases with regards to most things in life. Certainly financial products.
You come off brash, judgmental, and uninformed. Your arrogant stance about all the great financial success you’ve enjoyed (apparently not enough to drive a modern Model S, unless you prefer the older models, I presume?) tells those who really do those things “stay away from this guy”. No offense, just sharing how you come off. Given all the energy you‘ve put into your posts, I imagine that does matter to you.
Good luck to you. Happy 4th.

Typical American ePeen measuring metric of "What car you drive is a direct indicator of your net worth" that is highly flawed. More often than not, it's quite the opposite, actually. You keep losing your ass on new vehicles though and I'll keep buying them about 4 years old, driving them for half a year or so and then netting tens of thousands of dollars on each one I sell. No luck needed here. I've been making money on the largest depreciating assets most Americans gladly take on for decades now. The delta between what cars "cost" me selling for a profit and what they cost most Americans buying new isn't insignificant.

 

[Ostrichsak]

I like the new car smell. I’ll gladly take the 20% depreciation on a $80k car versus sitting in someone elses seat(thats been farted on)

That's great except for the fact that you're making an uninformed decision based on the figures you're throwing out. That 20% will be realized annually so are you buying new cars annually? Otherwise you can expect more like 50% over 3-4 years as is typical with any new car.

Again, I'm not trying to tell people how to live their life. If you want to lose money and enjoy what you get in return I'm all for it. Many people aren't as financially sound as they think they are to make such decisions so I'd give it a closer look than most are willing to give. Then there's those on here trying to make it seem like it's a wise financial strategy to borrow low and invest to get the spread which is just idiotic and anyone who claims to understand financial investment that doesn't factor for risk in that scenario is inept at best.

 

[Ostrichsak]

Not everything in life is about making money/saving money. I presume you make your own coffee vs going to a coffee shop to save 3 bucks, never go out to eat to save the money and invest the difference, don’t have a nice watch, don’t have nice clothes , never go on a nice vacation?

some people like a new car, with the latest tech, safety, driving dynamics etc.

Enjoy your life the way you want it, no one needs to hear your critical judgments on how we live ours

enjoy your day

I actually don't drink coffee but thanks for playing. Funny how defensive people get around the subject of finance when you tell them that reckless spending is unwise. Kind of explains why so few people having a savings/retirement and pretty much everyone is in debt. Heaven forbid that someone points out that spending more than you make is unwise because he's the most evil person on the world wide web. Sorry to bring reality to your fairy tail.

 

[Bleedblue82]

You must be really fun at parties.

 

[ct101]

I actually don't drink coffee but thanks for playing.

Of course you don’t.

Heaven forbid that someone points out that spending more than you make is unwise because he's the most evil person on the world wide web. Sorry to bring reality to your fairy tail.

I think you’re a little confused as to why you’re getting negative reactions. It’s not because you’re “dropping truth bombs” like you apparently think. It’s more the whole “being a smartass a*hole” that I think is rubbing people the wrong way.

Enjoy your used cars. Have a good rest of the long weekend.

 

[oktane]

I'm just trying to help people realize how much money they're losing on financing brand new cars. Then again, I LOVE buying them 4 years later for less than half of what they cost new so... That's a great rate folks! Sign up! Hell get two! lol

At 1.49% interest, take all the money you can get. Inflation will whittle away at your loan. You can certainly beat 1.49% return right now. Have you seen the used car market? I don't think they're losing money by financing. Of course you will lose money on a depreciating asset (new car) but maybe not as much as you think. I have several classes of depreciating assets, and they are worth more today than what I paid for them year ago. But then again the whole point of buying a new car is not about money, it's about FUN. You only get one go-around in life, do what makes you happy. If it's getting the best deal then so be it. If it's being the first on the block with a brand new car, so be it. You can't take the money with you.

 

[ct101]

I only buy tube TVs and think you’re all suckers for buying 96” OLEDs. Depreciating asset, don’t ya know.

I mean, i can re-sell CRTs since they’re *so hot right now* in the retro gaming market. Your 8K 102” with Dolby Atmos and HDR is only there to prove your “ePeen” anyway.

Movie night at my place is a blast, because in the middle of the movie you get to listen to me yammer on about how smart I am while giving you absolutely unsolicited “financial advice.”

 

[Ostrichsak]

You must be really fun at parties.

Personal attacks are mature.

 

[Ostrichsak]

Of course you don’t.

I think you’re a little confused as to why you’re getting negative reactions. It’s not because you’re “dropping truth bombs” like you apparently think. It’s more the whole “being a smartass a*hole” that I think is rubbing people the wrong way.

Enjoy your used cars. Have a good rest of the long weekend.

This, of course, assumes I actually care if I'm getting negative reactions.

 

[Ostrichsak]

At 1.49% interest, take all the money you can get. Inflation will whittle away at your loan. You can certainly beat 1.49% return right now. Have you seen the used car market? I don't think they're losing money by financing. Of course you will lose money on a depreciating asset (new car) but maybe not as much as you think. I have several classes of depreciating assets, and they are worth more today than what I paid for them year ago. But then again the whole point of buying a new car is not about money, it's about FUN. You only get one go-around in life, do what makes you happy. If it's getting the best deal then so be it. If it's being the first on the block with a brand new car, so be it. You can't take the money with you.

It sure is "fun" to leverage your monthly income to buy crap you can't afford that is depreciating at an alarming rate & stress over what would happen if the economy takes a hit and/or you lose your job.

Or you can live debt-free & buy 95% of the same car for cash & then sell it for a profit a year or two later all while to stockpile genuine & untouchable wealth. Now THAT is fun.

I guess we can agree to disagree & that "fun" is a subjective term.

 

[ct101]

Personal attacks are mature.

Oh, is this why you were implying people were only buying new Teslas due to inadequate genitalia? Pot meet kettle. You, sir, are what some might call “a real piece of work.”

 

[AMPd]

Oh my god dude. Just because you might be right about a few things in theory doesn’t mean that’s how everyone else lives their life and doesn’t mean you don’t sound freaking intolerable, and you sound pretty freaking intolerable.

Not all money is a damn investment. No kids, not looking to leave anything to anyone when I die. You enjoy building up that nut for the great beyond, I’ll have fun on my way there.. You sound like the kind of guy who wouldn’t pay for good tickets to a show or for a first class flight or a decent hotel room because of the lack of ROI. Had a friend like that I used to travel with until I realized everything was about save-a-buck and the trips were miserable - I don’t go anywhere with him anymore.

The thing you don’t seem to get is that’s not the point for a lot of folks. If it makes you happy, good. Having something new and not buying someone else’s problems is worth at least 1.49% to me. Being a chiseler isn’t a virtue to everyone.

You know you’re on the Tesla Model S forum, right? Ain’t nothing going on here about “needs”. A Toyota Camry is quite sensible, why don’t you take your holier-than-thou routine to those forums?

And JFC lighten up a little, you may find it’s better for you than that cash buried in your backyard.

Buried in the backyard...

Or neatly piled in a storage unit in New Mexico!

 

[Ostrichsak]

Oh, is this why you were implying people were only buying new Teslas due to inadequate genitalia? Pot meet kettle. You, sir, are what some might call “a real piece of work.”

"Epeen" (e-peen; epeen) is a harsh term used to mock someone's inflated ego as being an "electronic penis". It is used to insult those online users who deem themselves superior to others."

This is literally what was done due to me owning old clapped-out Model S's instead of taking to easy route of financing a brand new one with an arguably better experience overall.

I did find it rather humorous that you seemed to take personal offense to it's use when you thought it was directed at your genitals though.

"Me thinks thou doth protest too much" indeed.

 

[ct101]

"Epeen" (e-peen; epeen) is a harsh term used to mock someone's inflated ego as being an "electronic penis". It is used to insult those online users who deem themselves superior to others."

This is literally what was done due to me owning old clapped-out Model S's instead of taking to easy route of financing a brand new one with an arguably better experience overall.

I did find it rather humorous that you seemed to take personal offense to it's use when you thought it was directed at your genitals though.

"Me thinks thou doth protest too much" indeed.

Ok. Forget all those things I said. There’s only one jerk in this thread pretending he’s superior to everyone else and it’s got nothing to do with endowment. And you’re apparently twelve.

Not one person here cared or commented about your preference for used cars. I certainly could care less. Please, enjoy flipping used cars for a profit during a singularly unique time in history and crediting your luck to intelligence. Good on you. Nobody minds, but also nobody cares.

You’re the one who inserted himself in here with “advice” nobody asked for, basically calling people idiots for wanting to finance a new car, and then getting all defensive when anyone dared question your thread derailment and smartass attitude. Not everybody lives their lives your way. To assume they should is both presumptive and makes you come off like a bit of a dick.

Edit: edited for the children in the room.

 

[Ostrichsak]

Ok. Forget all those things I said.

You’re just an asshole.

Ok. Forget all those things I said. There’s only one jerk in this thread pretending he’s superior to everyone else and it’s got nothing to do with endowment. And you’re apparently twelve.

Not one person here cared or commented about your preference for used cars. I certainly could care less. Please, enjoy flipping used cars for a profit during a singularly unique time in history and crediting your luck to intelligence. Good on you. Nobody minds, but also nobody cares.

You’re the one who inserted himself in here with “advice” nobody asked for, basically calling people idiots for wanting to finance a new car, and then getting all defensive when anyone dared question your thread derailment and smartass attitude. Not everybody lives their lives your way. To assume they should is both presumptive and makes you come off like a bit of a dick.

Edit: edited for the children in the room.

Nice ninja edit from just flatly calling me an asshole. At least have the conviction to stand behind your personal attacks.

So many assumptions & yet so wrong. Again.

I've been making money on cars we drive for decades now. If anything, it's a little more difficult right now but that's not the topic.

I didn't call anyone stupid for financing a new car. I'm calling anyone who wants to act like it's part of some sort of solid financial investment strategy stupid. I'm also adding other options for people to consider but I can tell the crowd losing their ass on financing depreciating assets doesn't like when someone injects a little reality into their fantasy because, in a vacuum, my statements weren't inflammatory in the least. I can't control how they're received by delicate snowflakes.

Call it a PSA for those who don't realize you HAVE to finance a car. This might seem simple to you but there's a lot of people making that decision out of ignorance because they just think that it's "the way" when it doesn't have to be.

 

[ct101]

Nice ninja edit from just flatly calling me an asshole. At least have the conviction to stand behind your personal attacks.

So many assumptions & yet so wrong. Again.

I've been making money on cars we drive for decades now. If anything, it's a little more difficult right now but that's not the topic.

I didn't call anyone stupid for financing a new car. I'm calling anyone who wants to act like it's part of some sort of solid financial investment strategy stupid. I'm also adding other options for people to consider but I can tell the crowd losing their ass on financing depreciating assets doesn't like when someone injects a little reality into their fantasy because, in a vacuum, my statements weren't inflammatory in the least. I can't control how they're received by delicate snowflakes.

Call it a PSA for those who don't realize you HAVE to finance a car. This might seem simple to you but there's a lot of people making that decision out of ignorance because they just think that it's "the way" when it doesn't have to be.

Well, other facts notwithstanding, you were kind of being an asshole. The idea that buying new cars is a dick measuring contest is something that came entirely from you. People explained to you why they bought new cars, and you smugly waved their opinions off as irrelevant. They’re not. People in this segment of the market generally aren’t stupid, or poor.

I don’t think anyone here buying a new S is under the impression or misconception that it’s anything but a depreciating asset. We’re just okay with that.

The wisdom of financing is a completely separate argument. Once someone’s decided that they are ok with purchasing a depreciating asset (decision already made, yep, we get it) is it better to do that with other people’s money at a low rate or put all the cash put up front.

Again, completely dependent of the fact that yes, we know the car depreciates, buying that car with 1.49% money during an inflationary period is not that bad of an idea.

The wisdom of buying the car new or not is not part of that argument. That decision has already been made and accepted, and you seemed to be more attacking that point, than the point of this thread which is that money is very cheap to borrow right now.

 

[B@ndit]

Well, other facts notwithstanding, you were kind of being an asshole. The idea that buying new cars is a dick measuring contest is something that came entirely from you. People explained to you why they bought new cars, and you smugly waved their opinions off as irrelevant. They’re not. People in this segment of the market generally aren’t stupid, or poor.

I don’t think anyone here buying a new S is under the impression or misconception that it’s anything but a depreciating asset. We’re just okay with that.

The wisdom of financing is a completely separate argument. Once someone’s decided that they are ok with purchasing a depreciating asset (decision already made, yep, we get it) is it better to do that with other people’s money at a low rate or put all the cash put up front.

Again, completely dependent of the fact that yes, we know the car depreciates, buying that car with 1.49% money during an inflationary period is not that bad of an idea.

The wisdom of buying the car new or not is not part of that argument. That decision has already been made and accepted, and you seemed to be more attacking that point, than the point of this thread which is that money is very cheap to borrow right now.

Might as well be talking to a wall because despite this point being reiterated time and again this guy seems too thick to understand that.