CAR Expenses
Created by: KODI
Orig. Posting Date | User Name | Edit Date |
Aug 21, 2019 06:57AM | RedRiley | |
Aug 21, 2019 06:46AM | KODI | |
Jul 25, 2019 06:27AM | Dan Moffet | |
Jul 24, 2019 10:27AM | malsal | |
Jul 24, 2019 07:56AM | 6464 | |
Jul 24, 2019 07:22AM | malsal | Edited: Jul 24, 2019 10:25AM |
Jul 24, 2019 06:20AM | Dan Moffet | |
Jul 24, 2019 03:42AM | 6464 |
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Quote:
Originally Posted by KODI
Thanks For Sharing
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Thanks For Sharing
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Quote:
Originally Posted by 6464
You mean I got Scammed
That would be "we"!
.
"Hang on a minute lads....I've got a great idea."
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Yes Jim probably out of the same amount of time i spent on the thread LOL
I am not sure why these "people" do this maybe in this case to promote you to click on the Kodi link.
I am not sure why these "people" do this maybe in this case to promote you to click on the Kodi link.
If in doubt, flat out. Colin Mc Rae MBE 1968-2007.
Give a car more power and it goes faster on the straights,
make a car lighter and it's faster everywhere. Colin Chapman.
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You mean I got Scammed
Total posts: 8382
Last post: Jan 13, 2022 Member since:Feb 7, 2006
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This BS thread was up a while back under a different screen name maybe a scammer of some sort.
If in doubt, flat out. Colin Mc Rae MBE 1968-2007.
Give a car more power and it goes faster on the straights,
make a car lighter and it's faster everywhere. Colin Chapman.
Total posts: 9544
Last post: Apr 24, 2024 Member since:Aug 14, 2002
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Cars in Garage: 0
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Welcome to the forum.
+1 to what 6464 said. "Pay" yourself first - save!
Very basic personal expense plan:
1. Add up ALL your current expenses, including food, clothing, cell phone, cable, insurance for your home, current car expenses, loans and other debts, entertainment, eating out, toys, bank fees - in other words, EVERYTHING you spend money on.
2. Plan to save. Max out your retirement saving plan (it may be an income tax deduction, depending on where you live). Remember that this money will grow over time, but it won't if you don't put any in. A rough guess (from personal experience) about your cost of living at retirement is maybe 10 times what you are earning now.
3. Save a nest egg for vacations, even if you don't currently take any.
4. Make yourself an emergency fund - put money aside in a separate bank account for if/when you change jobs. No job is guaranteed secure these days. Don't touch this money unless you absolutely need it...things like medical bills, flood, fire, condo special levy come to mind. Rebuild this fund ASAP.
Once you have listed all these thing, see how it compares to your regular net income. If there is anything left over, put it in a fund for your dream car.
Don't finance the dream car entirely. You already have established your credit rating, so you don't need to borrow to build a credit rating.
Do some math on how much a car loan actually will cost you over time. Base it on the drive-away cost of the car, not on its advertised sale price. (Your figures don't seem to add up - $650 x 60 months = $39,000. less than the JCW price.) Now imagine paying half of the cost and do the loan math on half the cost. Now, do the math on a shorter-term loan, say 36 months, and see how that plays out. The payments will be higher, but the overall cost will be much lower.
Once you've worked out how much the car would really cost versus how much you can really afford. Then you can plan on how long to save before buying. Put any overtime earnings into the car fund or the other discretionary spending funds.
Good luck with your planning!
PS. BMW Minis are very expensive to repair - check out some of the current threads. A classic Mini is much more affordable!
+1 to what 6464 said. "Pay" yourself first - save!
Very basic personal expense plan:
1. Add up ALL your current expenses, including food, clothing, cell phone, cable, insurance for your home, current car expenses, loans and other debts, entertainment, eating out, toys, bank fees - in other words, EVERYTHING you spend money on.
2. Plan to save. Max out your retirement saving plan (it may be an income tax deduction, depending on where you live). Remember that this money will grow over time, but it won't if you don't put any in. A rough guess (from personal experience) about your cost of living at retirement is maybe 10 times what you are earning now.
3. Save a nest egg for vacations, even if you don't currently take any.
4. Make yourself an emergency fund - put money aside in a separate bank account for if/when you change jobs. No job is guaranteed secure these days. Don't touch this money unless you absolutely need it...things like medical bills, flood, fire, condo special levy come to mind. Rebuild this fund ASAP.
Once you have listed all these thing, see how it compares to your regular net income. If there is anything left over, put it in a fund for your dream car.
Don't finance the dream car entirely. You already have established your credit rating, so you don't need to borrow to build a credit rating.
Do some math on how much a car loan actually will cost you over time. Base it on the drive-away cost of the car, not on its advertised sale price. (Your figures don't seem to add up - $650 x 60 months = $39,000. less than the JCW price.) Now imagine paying half of the cost and do the loan math on half the cost. Now, do the math on a shorter-term loan, say 36 months, and see how that plays out. The payments will be higher, but the overall cost will be much lower.
Once you've worked out how much the car would really cost versus how much you can really afford. Then you can plan on how long to save before buying. Put any overtime earnings into the car fund or the other discretionary spending funds.
Good luck with your planning!
PS. BMW Minis are very expensive to repair - check out some of the current threads. A classic Mini is much more affordable!
.
"Hang on a minute lads....I've got a great idea."
Total posts: 1723
Last post: Oct 20, 2020 Member since:Jun 18, 1999
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Cars in Garage: 0
Photos: 0 WorkBench Posts: 0 |
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A car, any car is a liability. Put the money, that is burning a hole in your pocket in the bank or a sound investment for your Retirement.