Yeah I sold my Audi S5 last year, dumbest thing I've ever done. I feel you.
All I can is that it’s only a car and there’s more of them!
Thanks, but no quite the opposite. I grew up cheering against them.
My last payment was 20+ years ago also, and I still have the Jeep. Could not see buying new due to the depreciation. But as someone pointed out Jeeps really do hold their value well. It was a tough pill to swallow dropping $50K for a new one now, but my wife convinced me telling me something like that old saying "you can't take it with you" so enjoy it! You deserve it lol. It sounds like your nut isn't going to be that bad with that 6%, and used car prices being where they are.
Its a good thing that you feel this way. This tells me that you are and always will be financially secure. (Which is more a function of how you spend and save than how much you make)
Yeah I've always kinda freaked out about finances. People see my wife's MB (which we will keep forever) and think I'm rich. In reality, I traded in another hand-me-down that I got for free, I sold a 1965 Volvo 1800S that I restored and sold for a fairly decent amount when they were peaking in the classic marketplace, and paid cash for the MB, which was CPO, 3 years old, just off lease. I made sure to buy the extended warranty (which paid for itself 3x over, especially when it needed an engine rebuild that would have otherwise cost me $21,000), so that car will be around forever. I've always joked that we're going to really get the side-eye when we pull up to the unemployment office one day in a pristine Mercedes. My kids share an '86 Bronco II that I got for free from a buddy whose apartment was making him get rid of it. I've always gotten by on driving junk and spending all my weekends fixing said junk. My wife really pushed me to do this because she wanted me back on the weekends too! Plus she wants to drive the Gladiator.
Lots of people don’t own anything. They lease their cars and the house they live in.
Until 2 months ago I had a house payment and 4 car payments, 2 BMWs less than 3 yrs old a mustang 5.0 that was 4 yrs old and the JT. One BMW got totalled and I sold the other BMW and Mustang for basically what I paid for them because the markets so ridiculous right now. Now we got two, we just bought this, BMW X5 50I and We got the JT. It's not tough to do when you got 2 full time incomes coming in and then a full time business on the side that makes more than the 2 full time incomes. I sleep like a baby at night.
Not really only about $2600 in house payments and cars right now, was around $4000 with the other 2 BMWs but that still wasn't bad. I can cover all that with 3 weeks of my paychecks, and still have a week's worth of pay, the wife's income and the business income to spare, which is basically free money other the the utility bills. I don't have but 1 credit card and I keep the balance on it low and the wife has 1 and she does the same. I don't spend a ton of money, but when I want something I will get it. When I started the business 12yrs ago it really helped out and got us a lot more financially secure.
I never understood the way people will turn over cars so quickly and end up in a negative equity situation. They are the same people that look at me confused as to why I own 3 cars. Thing is as of 2 weeks ago I own all 3 outright, the first two were paid in full before I got the JT, so I really didn't have a reason to get rid of them. Multi-car policy is such that insurance is practically free.Yeah I've always kinda freaked out about finances. People see my wife's MB (which we will keep forever) and think I'm rich. In reality, I traded in another hand-me-down that I got for free, I sold a 1965 Volvo 1800S that I restored and sold for a fairly decent amount when they were peaking in the classic marketplace, and paid cash for the MB, which was CPO, 3 years old, just off lease. I made sure to buy the extended warranty (which paid for itself 3x over, especially when it needed an engine rebuild that would have otherwise cost me $21,000), so that car will be around forever. I've always joked that we're going to really get the side-eye when we pull up to the unemployment office one day in a pristine Mercedes. My kids share an '86 Bronco II that I got for free from a buddy whose apartment was making him get rid of it. I've always gotten by on driving junk and spending all my weekends fixing said junk. My wife really pushed me to do this because she wanted me back on the weekends too! Plus she wants to drive the Gladiator.
There was an interesting thread on Jalopnik about bad car loans and those people who are 3x underwater because they just keep on paying depreciation and never actually own a single part of a car. 3 or 4 trades in and they're $60K in the hole and still buying new cars. I'm sure when I had no credit, fresh out of college the interest on my TJ was outrageous, but you have to build credit somehow. It's those people that live on it I don't understand.
You guys are the best. On the Chevy forums they all would be like "GRUNT GRUNT I don't care about money GRUNT look at my tiny p*nis GRUNT you're a p**sy for worrying about money you suck lets roll coal and blow my entire paycheck on interest and gas GRUNT".
