There is that constant of purchasing more than you can afford. Greed
for more than one deserves and grasping for that higher rung will
kill more often than pay off.
Does one really need that shiny new car? the huge plasma HDTV? An
RV and ATV? The huge home to hold it all? The fastest, b
I am all for long term investing in real estate. Current home is
assessed at quintuple value from purchase 15 years ago. Investment
property purchases three years ago is 50% gain. Parent's home is
valued at over ten times purchase price.
Turn and burn is for very short term investors in a
--Original Message-
From: [EMAIL PROTECTED]
[mailto:[EMAIL PROTECTED] Behalf Of Mitch Haley
Sent: Thursday, July 31, 2008 5:08 PM
To: Mercedes Discussion List
Subject: Re: [MBZ] OT : Buying new/financing
Kris Gilmore wrote:
> they assume insurance cost of
> $2400 a year (mainly for collisio
inful and cheaper!
Thanks,
Tom Hargrave
www.kegkits.com
256-656-1924
-Original Message-
From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]
On Behalf Of Mitch Haley
Sent: Friday, August 01, 2008 7:39 AM
To: Mercedes Discussion List
Subject: Re: [MBZ] OT : Buying new/financing
[EMAIL PROTECTE
BT wrong. Go to Washington DC, where you too can be a winner.
---R
Redghost wrote:
> If you
> want to gamble, go to Vegas or Atlantic City
>
> clay
>
>
>
>
___
http://www.okiebenz.com
For new parts see official list sponsor: http://www.buymbparts.com
[EMAIL PROTECTED] wrote:
> Those who suffer are the ones who are forced to trade property (Job
> relocation, etc) during a bad market swing.
Some relatives of mine relocated to RI in April 2007. Bought for 80% of what
the
house had been listed for, thought they got in at the bottom. Got hit by
-- Original message --
From: Mitch Haley <[EMAIL PROTECTED]>
> Tom Hargrave wrote:
>
> > If the market stays depressed, our house will sell for maybe $110K
> > instead of $138K. But the same market forces will allow us to pay only
> > 160K for a house that we woul
Tom Hargrave wrote:
> If the market stays depressed, our house will sell for maybe $110K
> instead of $138K. But the same market forces will allow us to pay only
> 160K for a house that we would have paid $225K a year ago. This will
> only work to our advantage because the payments will be less ev
t the
banks, the builders or the realestate agents!
Tom
www.kegkits.com
- Original Message -
From: Redghost <[EMAIL PROTECTED]>
Received: 8/1/08 1:11 AM
To: Mercedes Discussion List
CC:
Subject: Re: [MBZ] OT : Buying new/financing
The whole housing burst is due to the idea that
The whole housing burst is due to the idea that home prices will
increase, such that you could make a stupid investment you could not
afford, and then sell it for a huge profit when prices soared.
Instead, we have fools who should never have gotten loans being stuck
with a sour market and
Redghost <[EMAIL PROTECTED]> writes:
> STOP with the financing already. Just pay cash. No cash, you do
> not need the darn car or you should get one you can really afford.
For a car I agree -- though if you plan to KEEP the car for 5 years,
financing it for 3 or 4 at a good rate is not the wors
Kris Gilmore wrote:
> they assume insurance cost of
> $2400 a year (mainly for collision to protect the debt holder) while
> in fact I have been paying $290 (liability only) on a debt free machine.
Good point. 72 months interest free can be expensive if it makes you buy six
years of comprehens
At 01:15 PM 7/31/2008, Hurst wrote:
>it's a means of valuing the loan. if you didn't get free financing as a
>promo, how much would you have to pay for it? that seems to be its value.
>
>i suppose another way to value it would be to ask how much you could "sell"
>that money for, that is, investin
it's a means of valuing the loan. if you didn't get free financing as a
promo, how much would you have to pay for it? that seems to be its value.
i suppose another way to value it would be to ask how much you could "sell"
that money for, that is, investing it risk free.
On Thu, Jul 31, 2008 a
real close I'd probably go with new even if it
were a couple hundred more... You can't get zero percent financing on used.
-Curt
Date: Thu, 31 Jul 2008 09:46:44 -0400
From: Rich Thomas <[EMAIL PROTECTED]>
Subject: Re: [MBZ] OT : Buying new/financing
To: Mercedes Discussion List
It seems than at Thu, 31 Jul 2008 07:24:42 -0400, Mitch wrote:
> Fmiser wrote:
> > Higher price plus interest charges equals more cost, not
> > less. So what am I missing?
>
> ...that the only reason he's considering financing is that he
> was offered 72 months at 0% in a 10% inflation environme
Very true. All the people who purchased the R350 from a dealer two
years ago are now sitting on a car that not only looks like a
Pacifica, but costs the same as one. From dealer floor price of $48k
to $24k in two short years.
clay
On 31 Jul 2008, at 06:46, Rich Thomas wrote:
> Reading t
Well as long as you are not actually going to be sending payment over
that term and just looking for some incentive plan program that will
render a lower purchase price, which you will then immediately pay.
Sounds good.
Values of cars are so out of whack, that financing one for that long
When we have gone to dealers for cars, I pay cash in essence. In
reality there are incentives for the dealer to sell the car on credit
which allows them to make some scratch on the front end kick back,
which leads to a lower sales price.
Example-
I have $10k cash for car I want in pocket.
Reading the thread doesn't matter -- if you are getting into a 6 yr loan
on a car, that is crazy no matter what the price, unless you expect The
Chosen One and the Congress will create a bail-out for you like they did
for all the stupid people who got into their stupid sucker-rate
mortgages, an
Gary Hurst: "well, in this problem he is not paying interest and wants to
determine a cash value of this interest free transaction. in other words, at
what point does it pay for him to buy for cash as opposed to buying via
interest free financing. a "rule of thumb" is asked for."
I think you
Redghost wrote:
> WHY IN GOD'S GOOD NAME are you even considering a 72 month finance?
0% interest... Their might be a higher purchase price, but you might
also make more money investing the money now. Hence the question.
John
___
http://www.okiebenz.com
Fo
they don't actually read the thread, mitch. they just pick up on some words
in the middle of one post and then rant.
On Thu, Jul 31, 2008 at 7:17 AM, Mitch Haley <[EMAIL PROTECTED]> wrote:
> Rich Thomas wrote:
> > 6 yr is ridiculous, you'll be so far underwater you won't be able to get
> > out.
Fmiser wrote:
> Higher price plus interest charges equals more cost, not less.
> So what am I missing?
...that the only reason he's considering financing is that he was offered 72
months at 0% in a 10% inflation environment. The only reason he doesn't jump at
the free financing is that he figur
Rich Thomas wrote:
> 6 yr is ridiculous, you'll be so far underwater you won't be able to get
> out.
He kept the last one for 21 years, maybe he doesn't want out. Besides, if his
original intention was to pay cash, he'll have the $$ on hand to pay it off any
time he wants.
Mitch.
well, in this problem he is not paying interest and wants to determine a
cash value of this interest free transaction. in other words, at what point
does it pay for him to buy for cash as opposed to buying via interest free
financing. a "rule of thumb" is asked for.
On Thu, Jul 31, 2008 at 4:23
It seems than at Wed, 30 Jul 2008 21:25:41 -0400, Gary wrote:
> ok, well, let me give you an example at a rate of 1/2 a
> percent a month.
** snip **
> i did this all fast. someone please check the math and logic
> for me. but i set the value of the finance at $150 per $1000
> financed as a q
SWMBA is looking at the 2006 R series. Around here they have dropped
half retail in only two years. Either they are total crap and really
were worth $25k new, or
I think that there is no way a car built today will be functional in
any shape within a decade of driving off dealer lot.
WHY IN GOD'S GOOD NAME are you even considering a 72 month finance?
IF you are not able to afford the stupid thing outright, is there a
question about your ability to actually afford the car in the first
place? When did we all figure that we could purchase stuff we really
have no business o
If you can drive it for ten years (not unrealistic for today's automobiles)
then you end up not underwater.
That being said, the day I win PowerBall will be the next time I buy a new
car or motorcycle. The depreciation is ridiculous.
PowerBall = order to my specs an E-Cass Benz diesel and a Harle
6 yr is ridiculous, you'll be so far underwater you won't be able to get
out.
--R
Gary Hurst wrote:
> ok, here is the question . suppose you financed that car through your local
> bank or credit union over 72 months. roughly what would be the rate you
> would get?
>
> give me that number and we
ok, well, let me give you an example at a rate of 1/2 a percent a month.
let's consider for a monent a car that costs 1000 dollars in total out the
door. you put 10% down, which is 100 dollars. since you put that money
down right now, it's worth 100 dollars right now. 900 dollars over 72
months
ok, here is the question . suppose you financed that car through your local
bank or credit union over 72 months. roughly what would be the rate you
would get?
give me that number and we can then do the math here
On Wed, Jul 30, 2008 at 7:22 PM, Kris Gilmore <[EMAIL PROTECTED]
> wrote:
> It
i remember when i moved to georgia, i had to get local inspection. went to
a big chain place and failed. he said he couldn't help me, but i should go
to this other place and give them 50 bucks. i was a tad confused, but went
with it.
went to the address, a really run down place in a really run
GM dealers around here (Michigan) have been offering GMS (employee pricing) to
everybody on 2008s, but I don't recall if that goes along with 6 years 0%.
If you go new, I'd run the purchase through edmunds.com and see what incentives
are offered in your area. BTW, my state's Farm Bureau has $500
ilmore <[EMAIL PROTECTED]>
> Subject: [MBZ] OT : Buying new/financing
> To: "mercedes Discussion List"
> Date: Wednesday, July 30, 2008, 7:22 PM
> It has come to pass that my trusty old 87 pickup will not
> pass
> the WV safety inspection because of body damage an
Things have changed? I used to get my MG "inspected" in WV (Fairmont) with
a wink and a nod at the local gas station.
I "passed" the parking brake part by pretending to pull the emergency brake
(going thru the motions) then purposely stalling when I let the clutch out
too quickly.
On Wed, Jul 30
WSJ had an article today about the car companies quitting their lease
programs, seems they are taking a bath what with resale values going
down down. You might want to think about checking around for a 2-3 yr
old vehicle coming off lease, make some low-ball offer on it and see
what happens. E
It has come to pass that my trusty old 87 pickup will not pass
the WV safety inspection because of body damage and rust. Not worth
fixing. So I have been looking at new vehicles. Traditionally in
such a situation I buy new from a dealer's inventory for cash and
then sell the old vehicl
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