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Old 10-28-2020, 06:11 AM   #1
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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.

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Old 10-28-2020, 08:04 AM   #2
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I leave the keys in all of my vehicles and leave them unlocked so that when they are repossessed I donít 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.

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Old 10-28-2020, 08:33 AM   #3
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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.
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Old 10-28-2020, 09:01 AM   #4
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Pretty sure they were joking.
One can only hope but given the level of intelligence of many .. will never know!

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Old 10-29-2020, 07:02 AM   #5
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Bet the finance companies just love people like you!
They must!

They just keep giving me loan after loan after loan..

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Old 10-29-2020, 09:25 AM   #6
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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.
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Old 10-29-2020, 10:24 AM   #7
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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.

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Old 10-29-2020, 10:59 AM   #8
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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.
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Old 10-29-2020, 11:58 AM   #9
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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.
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Old 10-29-2020, 02:11 PM   #10
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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.
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Old 10-29-2020, 02:34 PM   #11
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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?")
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Old 10-29-2020, 02:39 PM   #12
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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.
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Old 10-29-2020, 02:44 PM   #13
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Sense of humor is becoming a lost art, it seems.
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Old 10-29-2020, 03:02 PM   #14
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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 itís too late
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Old 10-29-2020, 03:15 PM   #15
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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!
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Old 10-29-2020, 03:17 PM   #16
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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.
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Old 10-29-2020, 05:51 PM   #17
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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.
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Old 10-29-2020, 06:06 PM   #18
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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"
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Old 10-29-2020, 06:10 PM   #19
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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.
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Old 10-29-2020, 06:18 PM   #20
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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.
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