Bought a new car

[Coach]

2013 Dodge Charger R/T AWD 5.7L Hemi.

[Buehler445]

Originally Posted by Coach

This is true and I have considered that route. The problem that I am having was, my old car was still worth a lot of value, (trade-in) and I also checked the increase of insurance and what not.

Basically, it's around the neighborhood of $300 a month, so it's not too terribly bad. I also made sure that I still have enough revenue after all the bills are paid off (including the car payment), and I'm still sitting pretty good.

Good on you buddy. It's a pretty sweet looking car.

I'm not trying to tell you how to handle your business, but I don't amortize the loans for more than 3 years on vehicles. I did it one time, and if I hadn't put so much down it would have been really easy to get upside down on it. And at that point it is kind of a vicious cycle, if you try to trade. Newer cars just lose too much value in 5 years.

JMO. Some guys set it up longer and pay extra principle. That's fine, I just don't ever get around to it, and the rates are much more favorable (right now) in the 3 year notes, that it wasn't worth it.

The other thing is that the interest rates are so low, that on my wifes car (no trade in) I didn't put much down and kept the money. It was going to cost us like $200 to keep our $6,000. My payments are pretty high, but if I've got the cash to use if I need it for the car or something else.

[mikeyis4dcats.]

you just got a new car last year didn't you? or were you still driving the truck?

[Coach]

Originally Posted by stevieray

NICE.

curious, why the four door?

Well, I would have gone for a Challenger (2 door) but the sticking point that I'd like to have is the AWD, and unfortunately, the Challengers don't make AWD.

[Coach]

Originally Posted by Buehler445

Good on you buddy. It's a pretty sweet looking car.

I'm not trying to tell you how to handle your business, but I don't amortize the loans for more than 3 years on vehicles. I did it one time, and if I hadn't put so much down it would have been really easy to get upside down on it. And at that point it is kind of a vicious cycle, if you try to trade. Newer cars just lose too much value in 5 years.

JMO. Some guys set it up longer and pay extra principle. That's fine, I just don't ever get around to it, and the rates are much more favorable (right now) in the 3 year notes, that it wasn't worth it.

The other thing is that the interest rates are so low, that on my wifes car (no trade in) I didn't put much down and kept the money. It was going to cost us like $200 to keep our $6,000. My payments are pretty high, but if I've got the cash to use if I need it for the car or something else.

Yeah, and since it's $300 a month, I'm going to be paying off $400 anyways, to pay it off a little faster. Plus, if all things goes well without any issues until 2014 tax return, I plan on using that refund to pay a good chunk of the car payment as well.

Of course, we can't predict the future, but at least we can try to prepare for it as the best we can.

[Coach]

Originally Posted by mikeyis4dcats.

you just got a new car last year didn't you? or were you still driving the truck?

It wasn't new, it was used.

[mikeyis4dcats.]

Originally Posted by Coach

It wasn't new, it was used.

yeah, I meant "new"...

[Coach]

Originally Posted by mikeyis4dcats.

yeah, I meant "new"...

Yeah, well it was new, but it wasn't what I really wanted, since a person made me "settle" less for what I really wanted, and since it's no longer my problem anymore, I'm not going to settle anymore.

So I'm going to do whatever I damn want, whenever I please, and not a damn thing will stop it. I work hard for the things that I want.

[mikeyis4dcats.]

Originally Posted by Coach

Yeah, well it was new, but it wasn't what I really wanted, since a person made me "settle" less for what I really wanted, and since it's no longer my problem anymore, I'm not going to settle anymore.

So I'm going to do whatever I damn want, whenever I please, and not a damn thing will stop it. I work hard for the things that I want.

I wondered how that was going, guess that answers that.