|
|
10-28-2020, 06:11 AM
|
#1
|
Senior Member
Join Date: Jul 2015
Posts: 7,053
|
Finance Humor
I leave the keys in all of my vehicles and leave them unlocked so that when they are repossessed I don’t have to pay the key charge when I go to retrieve them. I leave a lot of quarters in the console to keep the repo guy from going through the rest of the vehicle looking for money and other stuff. It works every time.
Defensive measures.
Bruce
__________________
2016 Rockwood Windjammer 3029W Diamond Edition
2015 Chevy 3500HD LTZ 6.0 Crew Cab 4x4 Long Bed 4.10:1 SRW
|
|
|
10-28-2020, 08:04 AM
|
#2
|
Senior Member
Join Date: Aug 2011
Posts: 610
|
Quote:
Originally Posted by nomad297
I leave the keys in all of my vehicles and leave them unlocked so that when they are repossessed I don’t have to pay the key charge when I go to retrieve them. I leave a lot of quarters in the console to keep the repo guy from going through the rest of the vehicle looking for money and other stuff. It works every time.
Defensive measures.
Bruce
|
Bet the finance companies just love people like you!
Purchasing a vehicle, an item that will lose value instantly, on credit and paying interest is foolish. More foolish when one knows they can't make the payments and it will be repoed.
ONLY financed 1 vehicle ever back in 1968 & vowed never would do so again, and haven't.
|
|
|
10-28-2020, 08:33 AM
|
#3
|
Senior Member
Join Date: Jan 2020
Posts: 712
|
Quote:
Originally Posted by Dakota 1120
Bet the finance companies just love people like you!
Purchasing a vehicle, an item that will lose value instantly, on credit and paying interest is foolish. More foolish when one knows they can't make the payments and it will be repoed.
ONLY financed 1 vehicle ever back in 1968 & vowed never would do so again, and haven't.
|
Pretty sure they were joking.
__________________
Hobienick
2022 Grand Design Imagine 2800BH
2020 Rockwood Roo 19 (Sold Jul 2022)
2012 F150 SuperCrew Ecoboost
|
|
|
10-28-2020, 09:01 AM
|
#4
|
Senior Member
Join Date: Aug 2011
Posts: 610
|
Quote:
Originally Posted by hobienick
Pretty sure they were joking.
|
One can only hope but given the level of intelligence of many .. will never know!
|
|
|
10-29-2020, 07:02 AM
|
#5
|
Senior Member
Join Date: Jul 2015
Posts: 7,053
|
Quote:
Originally Posted by Dakota 1120
Bet the finance companies just love people like you!
|
They must!
They just keep giving me loan after loan after loan..
Bruce
__________________
2016 Rockwood Windjammer 3029W Diamond Edition
2015 Chevy 3500HD LTZ 6.0 Crew Cab 4x4 Long Bed 4.10:1 SRW
|
|
|
10-29-2020, 09:25 AM
|
#6
|
Senior Member
Join Date: Jan 2020
Posts: 712
|
Quote:
Originally Posted by Dakota 1120
Bet the finance companies just love people like you!
Purchasing a vehicle, an item that will lose value instantly, on credit and paying interest is foolish. More foolish when one knows they can't make the payments and it will be repoed.
ONLY financed 1 vehicle ever back in 1968 & vowed never would do so again, and haven't.
|
It is also foolish to take cash out of investments when it earns more interest than the interest cost of a loan. Looking at the cost of money over time for each situation is the smart thing to do.
__________________
Hobienick
2022 Grand Design Imagine 2800BH
2020 Rockwood Roo 19 (Sold Jul 2022)
2012 F150 SuperCrew Ecoboost
|
|
|
10-29-2020, 10:24 AM
|
#7
|
Senior Member
Join Date: Aug 2011
Posts: 610
|
Quote:
Originally Posted by hobienick
It is also foolish to take cash out of investments when it earns more interest than the interest cost of a loan. Looking at the cost of money over time for each situation is the smart thing to do.
|
I've attempted to convince more than one person NOT to borrow $$ when could pay cash from savings/investment and save interest $ by simply making monthly payment back into the savings/investment.
|
|
|
10-29-2020, 10:59 AM
|
#8
|
Senior Member
Join Date: Apr 2017
Location: Florida
Posts: 492
|
Quote:
Originally Posted by Dakota 1120
I've attempted to convince more than one person NOT to borrow $$ when could pay cash from savings/investment and save interest $ by simply making monthly payment back into the savings/investment.
|
Thats tough decision sometimes with car dealers offering 0% or 1.99% when investments are earning very little if not losing because of the pandemic. I've done it both ways over the years weighing on the net cost that it would be for the term of the loan vs. withdrawing from your investments. The best method, IMHO, is taking a loan against your investments since your paying yourself back the loan plus interest.
|
|
|
10-29-2020, 11:58 AM
|
#9
|
Senior Member
Join Date: Aug 2011
Posts: 610
|
What is shocking is the number of people who get sucked into those 'interest free for a year or 2 year" agreements and don't realize if NOT paid in full within the time frame ... interest is accessed from day one.
I have met many of them that got stuck with a pile in interest charges for that very reason.
|
|
|
10-29-2020, 02:11 PM
|
#10
|
Senior Member
Join Date: Jul 2017
Location: North of Seattle, WA
Posts: 17,334
|
Quote:
Originally Posted by hobienick
It is also foolish to take cash out of investments when it earns more interest than the interest cost of a loan. Looking at the cost of money over time for each situation is the smart thing to do.
|
At my age I'm thinking that buying a new truck, financed for as long as possible, might be the way to go. Older I get the greater the likelihood my kids will just have to deal with it when they divvy up my estate
When I bought my Titan I had enough in the checking account to pay cash for it. Got 72 months @ 0%. When truck was paid for the $$ were still in the bank.
__________________
"A wise man can change his mind. A fool never will." (Japanese Proverb)
"You only grow old when you run out of new things to do"
2018 Flagstaff Micro Lite 25BDS
2023 f-150 SCREW XLT 3.5 Ecoboost (The result of a $68,000 oil change )
|
|
|
10-29-2020, 02:34 PM
|
#11
|
Just as confused as you
Join Date: Aug 2013
Location: south central Wisconsin
Posts: 5,108
|
Quote:
Originally Posted by Dakota 1120
One can only hope but given the level of intelligence of many .. will never know!
|
I guess not many notice the thread's title or what subforum this is posted in.
(while thinking to myself, "level of intelligence?")
__________________
Richard & Jill
2014 Flagstaff 832IKBS Classic Super Lite
2018 Silverado 1500 Crew Cab Z71 4WD All Star Edition
Camping since 1989, Seasonal since 2000.
Car Shredder Op/Tech, Scrap Metal Recycling - retired
|
|
|
10-29-2020, 02:39 PM
|
#12
|
Site Team
Join Date: Sep 2014
Location: Northen IL
Posts: 8,320
|
Quote:
Originally Posted by Scrapper
I guess not many notice the thread's title or what subforum this is posted in.
|
It was moved here from another thread that it was hijacking.
I figured the first post was made as a joke but if people want to continue discussing the topic, feel free.
|
|
|
10-29-2020, 02:44 PM
|
#13
|
Senior Member
Join Date: Nov 2016
Location: Montana
Posts: 605
|
Sense of humor is becoming a lost art, it seems.
__________________
2016 Berkshire XL 40A towing 2020 Jeep Wrangler unlimited.
Prior to this Jayco fifth wheel: 24' Eagle, 30'Designer, and 40' Jayco pinnacle.
|
|
|
10-29-2020, 03:02 PM
|
#14
|
Senior Member
Join Date: Aug 2018
Posts: 1,001
|
Quote:
Originally Posted by TitanMike
At my age I'm thinking that buying a new truck, financed for as long as possible, might be the way to go. Older I get the greater the likelihood my kids will just have to deal with it when they divvy up my estate
When I bought my Titan I had enough in the checking account to pay cash for it. Got 72 months @ 0%. When truck was paid for the $$ were still in the bank.
|
Although I agree with all the smart $$$ stuff, I also agree with Titan Mike and will add that at some point we value The quality of what life we have left more than we used to and adjust our financial thinking accordingly.
Does anyone want to die tomorrow not having enjoyed a great truck because they we waiting for more $$$, the right price, the right time, etc?
Have a nice life before it’s too late
|
|
|
10-29-2020, 03:15 PM
|
#15
|
Pickin', Campin', Mason
Join Date: Aug 2015
Location: South Western PA
Posts: 19,144
|
Quote:
Originally Posted by TitanMike
At my age I'm thinking that buying a new truck, financed for as long as possible, might be the way to go. Older I get the greater the likelihood my kids will just have to deal with it when they divvy up my estate
When I bought my Titan I had enough in the checking account to pay cash for it. Got 72 months @ 0%. When truck was paid for the $$ were still in the bank.
|
My uncle just bought a $500k motorhome and financed it for 25 years.
He's 84. He told me he figures he'll only spend $10K to use this luxury R/V until he kicks the bucket!
__________________
2022 Cedar Creek 345IK 5th Wheel•Solar & Inverter•2024 Ford F-Series SCREW•7.3L•4x4•Factory Puck•B&W Companion•TST Tire Monitor w/Repeater•Sinemate 3500w Gen.
F&AM Lodge 358 Somerset, PA - JAFFA Shrine - Altoona, PA
Days Camped ☼ '19=118 ☼ '20=116 ☼ '21=123 ☼ '22=134 ☼ '23=118☼ '24=90
|
|
|
10-29-2020, 03:17 PM
|
#16
|
Site Team
Join Date: Sep 2014
Location: Northen IL
Posts: 8,320
|
Quote:
Originally Posted by Dakota 1120
What is shocking is the number of people who get sucked into those 'interest free for a year or 2 year" agreements and don't realize if NOT paid in full within the time frame ... interest is accessed from day one.
I have met many of them that got stuck with a pile in interest charges for that very reason.
|
I've lost count of the number of things I've bought with X number of months of 0% interest payments. It's great. Have not been stuck with interest charges one single time either.
|
|
|
10-29-2020, 05:51 PM
|
#17
|
Senior Member
Join Date: Aug 2011
Posts: 610
|
Quote:
Originally Posted by Iwritecode
I've lost count of the number of things I've bought with X number of months of 0% interest payments. It's great. Have not been stuck with interest charges one single time either.
|
Of course not as long as you comply with the terms and pay the item off within the time limit.
Some think if they don't, interest will not start until the end of term is reached...and never read the contractual terms which state it starts at initiation date of the contract.
Regardless ... each can do as they please.
|
|
|
10-29-2020, 06:06 PM
|
#18
|
Senior Member
Join Date: Jul 2017
Location: North of Seattle, WA
Posts: 17,334
|
Quote:
Originally Posted by Igave
Sense of humor is becoming a lost art, it seems.
|
Right along with Common Sense.
I saw a T-Shirt that said "Common Sense is so rare it should be considered a Super Power"
__________________
"A wise man can change his mind. A fool never will." (Japanese Proverb)
"You only grow old when you run out of new things to do"
2018 Flagstaff Micro Lite 25BDS
2023 f-150 SCREW XLT 3.5 Ecoboost (The result of a $68,000 oil change )
|
|
|
10-29-2020, 06:10 PM
|
#19
|
Senior Member
Join Date: Jul 2017
Location: North of Seattle, WA
Posts: 17,334
|
Quote:
Originally Posted by 5picker
My uncle just bought a $500k motorhome and financed it for 25 years.
He's 84. He told me he figures he'll only spend $10K to use this luxury R/V until he kicks the bucket!
|
Wonder who he's leaving the "contract" to in his will?
Seriously though, some people carry enough life insurance to pay off any unpaid balance. Then a lucky family member might end up with it free and clear.
__________________
"A wise man can change his mind. A fool never will." (Japanese Proverb)
"You only grow old when you run out of new things to do"
2018 Flagstaff Micro Lite 25BDS
2023 f-150 SCREW XLT 3.5 Ecoboost (The result of a $68,000 oil change )
|
|
|
10-29-2020, 06:18 PM
|
#20
|
Senior Member
Join Date: Jun 2016
Posts: 5,059
|
When I was a kid, our next door neighbor came down with a fatal illness. He took out a big loan at the local credit union that had a policy of waiving balances if you died. His wife was grateful.
__________________
Al
I am starting to think, that I will never be old enough--------to know better.
Tolerance will reach such a level that intelligent people will be banned from thinking so as not to offend the imbeciles. Fyodor Mikhailovich Dostoevsky, Russian Novelist
S.E. Mich. Flagstaff 26FKWS / 2022 F-150 3.5 EcoBoost SCrew Propride
|
|
|
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Discussions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|