>>29089182
I just bought a 2027 Prius XLE but I put 20k down so I'm above water.

>>29089182
Don't know, don't care. Value of the car doesn't matter if you don't intend to sell.

Being underwater only matters if you're in debt and bought something beyond your means, where you know the only chance is to resell the car later. If you intend to drive it till the wheels fall off it doesn't really matter.

>>29089194
If you loaned it you are in debt though

>>29089196
What loans for a product are you getting that are at the exact assessed value of the car?

>>29089182
Bought cash. Mind you, it was a $2000 shitbox, but it's my shitbox now. Prior owner treated it like they hated the car (they're presumably in a pickup truck now) so I'm undoing a lot of the damage. Mechanically well cared for though, that owner definitely did everything the mechanic told her was necessary.

The damn thing still generates infinite cheerios though, I can't be rid of them no matter how many times I clean it.

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>>29089202
This is how you do it, if you're concerned with "being underwater" with value just get a shitbox like picrel and roll with it until the car just shits itself. A 2k shitbox every 3-4 years isn't a big deal even if you are a poorfag

>>29089188
It does if you get in an accident or a tree fucking falls on it

>>29089202
>>29089208
have you considered not being poor and instead buying a $30k car in cash?

>>29089215
>go to dealer
>have full cash for a car
>"oooo yeah, we can't work much on the price... say I'll knock off the tags and internal fees but not taxes can't budge on those lol!"
Yeah anon sounds great, have you tried buying a car in the past decade? The buy in cash for a deal is dead.

>>29089222
get a loan without a prepayment penalty and pay it in full the next business day

>>29089224
>get loan
>paperwork has it hidden in there that paying off before the end of the set loan period incurs a fee the same as interest
Yeah anon sounds swell, again you haven't been car shopping in a while huh?

I'm debt free lol, imagine getting a loan for a (((car)))

>>29089215
That's dumb, I'd rather spend my extra cash on stocks

>>29089230
I'm debt free, but even I know that without going the loan/finance route you're going to be fucked on the price. Again if you're worried about being "underwater" get a shitbox or be willing to pay a nearly firm price at sticker owning it.

>>29089208
shitboxes in new england dont last
they come with problems that prevent them from passing inspection almost immediately including but not limited to massive rust damage
you wont even get a year out of a lot of them

i watched family members stay in poverty for over a decade trying to buy shitboxes on the cheap and getting burnt literally every single time instead of just ponying up a down payment like someone with an iq near 100

>>29089244
>NDSU in the pic
>new england
Anon please look at a map

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>>29089215
>have you considered not being poor and instead buying a $30k car in cash?
But why?

A $2000 car gets me to work no better than a $30k car. It carries groceries and stuff fine. Even if I blow $1000 on minor repairs, I can think of better ways to blow $27k of saved on something else that's not a car. $27k can buy me a lot of regular gas.

>>29089234
>That's dumb, I'd rather spend my extra cash on stocks
For me, it was SMX stages. Round1 arcades are over an hour away and I've played Stepmania so many times I broke even in six months on game time alone.

Gaming-wise, I don't think there's a healthier way to vidya than this.

>>29089182
I don't believe in usury

>>29089248
>this is how you le do it
ok im reminding you to tag it that it doesnt work in states with winter

in which case this is not le how you do it. do you understand that?

>>29089244
>shitboxes in new england dont last
New England and the midwest have absolutely dogshit auto markets. The used cars are extraordinarily expensive for what they offer.

There's one I'm monitoring that the dealer wants $9k for. The car itself routinely commands no higher than $1500 at auction after fees and transport, so they're looking for suckers to buy it because it's got low miles for the age. It's got over 130 days on lot now, so it's turning into a landmark at this rate. This car routinely hits 600-700 days on lot if they aren't priced below $2500.

>>29089256
>my parents didn't buy good shitboxes therefore all shitboxes can't last a year
Anon even if the car posted in that pic lasts 12mo @ 2000 (so like what 170/mo?) that's cheaper than what most insurance would be on a brand new car with proper coverage.

For all I know your parents lived in an insane hilly place in NE driving 30 miles a day and did 0 checks on the car for prior damage. Shitboxes work if you know their limitations

>>29089182
quite a bit sadly.
after an accident a few years back I bought a lemon. I then saw the car I actually wanted after 18 mos and traded in the lemon -- eating some disequity
(2010 mustang with 85k miles on it, was $12k, lost about $7k on the fucking bmw.)

but If i really wanted to,I could pay the loan off tomorrow.

>>29089260
>New England and the midwest have absolutely dogshit auto markets
Moved to the midwest from PHX, never saw such a horrible market. I'm unironically better flying to AZ, buying a decent used car and driving it back than gambling the rust buckets here. It amazes me how bad the market is here, something straight out of a sticom stereotype

>>29089267
I blame the decriminalized weed. They must be smoking some of the dankest ganja in existence because you'll have to be higher than the cosmos to think selling a car like that is sustainable. I'd imagine the APRs people are signing up for looks like a credit card payment. Beater cars always require a mandatory repair, but they can't afford to do it because the bank wants blood every month and they bought at the peak.

I can't tell the difference between a dealer lot and a scrapyard in the midwest anymore, because the cars sit equally as long in both lots. The plane ticket is cheaper. Even flying to Georgia or Florida and snagging a beater there is cheaper and that's a solid 50% discount compared to buying in Ohio, Indiana, or Michigan, minimum.

>>29089272
I'm lucky I am now full WFH, so getting a 2500 dollar shitbox isn't a big deal if it goes poof. I'm mainly using it to fight adverse winter weather, walshart runs, and errands. I was actually about to buy a Type-R because at least it's fun to drive and not THAT much over what a decent car would be out here.

Shits insane

>>29089182
The only thing I owe on is my house, I own all 4 of my cars outright.

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>>29089275
Back when I lived in the Midwest, I bought a lot of RP-342, or what appears to be cosmoline in a spray can, and rust converter. I attacked any hint of rust very aggressively because I knew that if I left it be, it would eat my car alive. I'd rather have a coating of magnetite and strange waxy oil that refuses to come off than the tin worm. It's ugly as hell but I never had any structural rot on the car. I always checked for it on a weekly basis.

I know people swear by Fluid Film there but I've never really needed to use it because of frequent inspections.

I also constantly checked my ground wires and ground straps. Corroded grounds will cause CANBUS modules to freak out if they don't have a stable voltage baseline to reference their signals from. I got good at building them from scrap wire from car audio installs.

>I was actually about to buy a Type-R because at least it's fun to drive and not THAT much over what a decent car would be out here.
I think the lending environment there considers a normal loan duration there at 84 months and dealers and lenders are experimenting with 96 and 100 month loans around there.

That's one of the huge reasons for the inflated price structures because it allows lending schemes to make a very insidious optical illusion called the $300 monthly payment, so cars have a average list price of around $15k regardless of how old, run-down, or rusted out they are. Extending it to 96 or 100 months only adds $1000 of purchasing power while significantly increasing interest payments, so anyone who commits to a 7+ year loan on a car that is, let's face it, over 10-20 years old is setting themselves up for failure.

The current think tanks and analysts are blindly calculating the numbers, using the stat as if the cars are all in running condition and at a reasonable age, but that's not the case there.

>>29089182
None because I'm not a freaking poor person.

Okay I am poor but I'm not such a goofy mf that I do shit to stay poor

>>29089182
99% of car loans are underwater the minute cars drive off the lot

>>29089226
The loan I took out in 2025 didn't have any prepayment penalties.
Paid it off super fast.
No issues.

>>29089194
100% this.

And don't take on debt on something that drops in value.

I buy auction vehicles outright and drive them for like a year then sell them for what I paid or more. Can't imagine paying to drive a car

>>29089196
There are plenty of people who will still do the loan method for better deals or freebees that cost the dealership nothing but they throw in hoping to keep the car in shape for a possible repo. There are tons of people who keep the loan active but pay off aggressively so as to not incur much or any interest depending on deals like 0% interest for X months.

>>29089252
i lost so much weight as a kid shoving quarters into an ITG machine

>>29089182
i feel like this is a very new concept. growing up i was always told that a car's value is cut by half the second it leaves the lot

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My car is paid off but it's a money pit

>>29089182
>bought my Fiata second hand
>paid it in full upfront
>I don't care about value because I love it and I'm just not going to resell it ever
>I'll do whatever I can to keep it running as long as I possibly can because I love it and I don't want any other car

>>29089200
Paying it in cash, no (((financing)))

>>29089188
It does when the bank takes their car back and sells it at dealer auction and sues you for the difference

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>£41k for 4 years, Tesla Model 3 RWD new from Tesla, no deposit, no interest
>£568 a month, 2 years done
>in a year will have paid half the total finance
>will trade in for something cheaper because I want to pay off a loan faster

It's been a great car but to be honest I shouldn't have done it with house work and stuff coming up, I could do with extra cash now and I have to wait a year to do anything about it. I am 2/3 into the mileage allowance with half the term left.

>>29089261
2000 for a year was possible over 10 years ago, its legitimately not possible now. take a look on craigslist. theyre like 5k for something that actually starts. its just not the same market.

>>29089694
And don't forget inflation.
Even if the price had the same exact number (2000) it'd still cost a lot more now.

So not only have the numbers gone up, the money itself is considerably weaker.

>be 1960s
>buy a car for $1000
>service it yourself
>drive it till the wheels fall off
>put new wheels on it
>drive it till the wheels fall off again
modern cars cost as much as a house used to and they don't last a decade. houses, cars, and college tuition are all wealth transfer scams that have been engineered to milk you dry and keep you poor.

>>29089702
We got jewed pretty hard huh

Just paid for my 7th car in cash a few months ago.
Never had a loan or credit of any kind, born in the '80s.
Gamifying the financial system was a mistake in the long term and I refuse to play unless I am so destitute that I have to.
You don't need to finance a living room set when your extended family keeps giving away nice ones. Ever heard of an estate sale?

>>29089708
basado

>>29089383
yes, the question was how much are aut/o/ists underwater

>>29089182
I do not owe money on any of my vehicles.

>>29089182
I'm about 23k in equity, never take a loan if you'll be underwater at any point. always have an option to bail

>>29089182
Not at all. According to my bank, I bought my car $4k~$5k below its market value so I can't even get gap insurance for it lmao.

>>29089694
See >>29089208

>>29089222
Always pretend you’re getting a loan until you have already negotiated a price then “decide” to just pay cash. They do deals on loans because they get a kickback

Never loaned or leased anything. Mortgaged the house and paid it off in 3 years.

truggers are silent lol

>>29089182
FRS? 0$
Maverick? 0$
Mach e? Polly 30k. But I knew that would be the case going into buying it.

>>29089210
That's why we get Gap insurance homie

>>29089196
Yea, that's what a loan is.

>>29089831
Haven't most places gotten smart about this?

>>29090282
yeah it's boomer shit. these days penalties for doing that is written right into the terms of the lease (lets be real you NEVER pay it off and always carry it into your New Car)

>>29090282
>>29090323

Yes, dealers can set all kinds of bullshit criteria and will actively refuse your own financing (happened to me, I got financing from Bank of America, the literal #1 bank in the cunt-tree and they refyoozed). They can also say you must finance at least $___. They made me finance 20K minimum even though I could have paid off more of the car. They can force you to finance through their bank of choice.

All this is legal, I looked into the laws.

The best you can do is immediately pay it off within a few days, before the first statement comes. This way you only lose like $20-50 in interest. The dealer's cut gets clawed back by the bank.

loan more like lmao

>>29090338
they can't force shit if you just walk away

>>29090343
yeah but then you cant buy the car dipshit and you >NEEEED one to live in the US

>>29090338
>The best you can do is immediately pay it off within a few days, before the first statement comes. This way you only lose like $20-50 in interest. The dealer's cut gets clawed back by the bank.
https://www.youtube.com/watch?v=c9aSSbgToBM
paid off early? Not so fast!

>>29090383
Shit wrong one https://www.youtube.com/watch?v=P_gadUxy9VI

>>29090196
Yes say it to this guy >>29089194

>>29089182
No loan needed for a used car. I'll probably continue buying used. Just looking at quote simulations for cars, you are already paying an arm and a leg for a base version of the car. Then you add all the stuff you want to it to make it a normal fun to drive car and it's double the price. Buy used and you get everything at a fraction of the price.

being underwater only matters if you wreck your vehicle and don't have GAP, or if you are selling your vehicle. Otherwise it is more of a honor thing where if your car is shit and your underwater you feel like garbage

>>29090659
Well, how underwater are you, anon?

i took out a loan last year to buy a mint s2000 for 23k. i can sell it for 25k if not 29

why do americans think everything is an appreciating asset? you can take a loan for stuff that doesnt make you money. if you buy a burger on credit card, that's a loan

>>29090666
none at all. fully paid off

>>29089702
As you can see, moderniggers can't do anything right

>>29090685
but you pay 5k or more in interest
and the 29k only happens if you dont drive it, so whats the point

>>29090338
>Yes, dealers can set all kinds of bullshit criteria and will actively refuse your own financing
Which is why I won't buy from those dealerships. I've only ever used my own financing because there's nothing any dealership can offer that's anywhere close in terms of interest rates, terms, or penalties.
And if they won't take it I'll just walk out the door. My cashier's check from USAA, Ally, Penfed, or wherever else will just end up going to a different car at a different location.

I've driven to neighboring states in order to avoid having to do transactions with dealerships that won't take independent financing.

>>29090792
basado, have fun then

All car loans are underwater you fucking dipshit. It's not an asset.

>>29090924
the OP asked how much tho

>>29090924
>All car loans are underwater you fucking dipshit.
no
> It's not an asset.
wrong again.

>>29089210
only if you're a retard that underinsured their car and forewent gap insurance

>>29089664
only if you're black

>>29089593
same
I'd rather have a car with a loan at this point
honestly I'm spending more on parts than a good monthly car payment

My armada was 37k when I bought it a few years ago. I doubt it's worth that anymore.

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>>29089185
Lose 20k
>above water

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>>29090924
>walk into car dealership with the cash for a new car
>go for 10% off MSRP+tax/title/fee eaten by the dealership
>LOL NOPE. Sorry anon, with tariffs and all that stuff in washington we gotta be firm on things. Say I'll tell ya what I can do the tax/title/fees if you pay the sticker.

>walk into car dealership with the conversation of a finance option
>go for 10% off MSRP+tax/title/fee eaten by the dealership
>IS THAT IT? WE CAN MAKE THAT HAPPEN WANT FREE OIL CHANGES FOR 48 MONTHS TOO?

Not even looking at anything ultra fancy just a civic hybrid sport, fucking night and day between having the cash up front for a 2026 model and lease option talk.

>>29089182
ive always bought every single car cash
im not poor

Why not just shop when they have a 0 interest promo, go in with a lease, shop and get something financed, pay it off within the 0% interest window with the cash?

It's okay, I just put the difference into the DOW. I'll 10x my money and then being underwater on the car won't mean anything. If Jensen Huang could do it, why can't I?

>>29089182
Not at all, I have like $15-18k equity on mine. (Depending on whether it's trade-in or private sale value.)

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>>29089583
>i lost so much weight as a kid shoving quarters into an ITG machine
I did the math on how much DDR and PIU I played when I finally could afford to play on cabinets, and if I played the amount I wanted, I'd be burning around $6000 per year at a Round1 just in game credits.

Math basically said, "Buy the stages, retard." I bought the stages. Turns out when I have SMX at home, I play more. I broke even in six months.

The weight loss is a nice side effect. Tack on a decent 2.1 system and a 240 Hz TV and you'll beat the brakes off of any arcade cab on performance alone.

>>29090924
>All car loans are underwater you fucking dipshit. It's not an asset.
So the general guideline under conventional depreciation curves indicates that you break even on equity (zero equity) between 36 and 48 months. If you finance above that, you will go underwater for the vast majority, if not the entirety of the loan. If you do shorter loans, you'll have equity. This is assuming you didn't overpay for the car.

However, current list prices for many cars, especially used, run from 40% to over 500% the actual ACV of the vehicle itself. If you combine an overpriced vehicle with long loan terms, you'll get weird numbers where the sucker would've been better off buying a new car.

Right now, any entity that extends credit, especially to subprime borrowers, are playing a highly predatory game and they're doing this assuming nearly half of their borrowers are insolvent the moment they sign the papers. They are making pure profit because the value of the collateral is so low that a partial run of payments is enough to make the money back. Everything else is a usurious gravy train.

>>29089252
>the poors DDR
kek

>>29091383
I like it. DDR, PIU, SMX, they're all fun to me.

Right now it's just 2x stages with the 9-panel upgrades for both, and a dedicated PC Stepmania setup. I do want a redundant home StepmaniaX setup in the future, but these things take up a lot of space.

No matter the room it's in, it's the centerpiece. There is no doubt when someone visits, you are indeed a rhythm game enjoyer.

>>29091386
You're so fucking poor it's insane

You can't even paly real DDR lol you need some chink bootleg

>>29090702
you take out a loan any time you think throwing that money into a return-bearing financial instrument would yield more than the loan costs, risk adjusted

>>29092180
what if the bank knows the projected rate of return for your investment, and sets interest rates to be slightly higher than that to make it unprofitable to use borrowed money to invest?

>>29092180
bro seriously takes credit card advances to try to beat the market KEKW

>>29089708
I have a serious aversion to buying used furniture. Someone's been shedding and sweating on that shit for 40 years. Never mind the possibility of bedbugs.

>tfw my dining room table has bedbugs

>>29089182
Car loan? Just pay cash like a none poorfag. I often forget how bad it is in the US that everyone has to live on credit over there.

>>29091130
Normie logic mate.
Shopping trolley commuter cars that only go down in value are somehow an "investment".
It's basically the same kind of attitude of "buy a steel Rolex cause they only go up in value".
Cant wait to waste my money on depreciating things primary obsessed over by boomers and the oldest of Gen X and ignored by everyone else under 63 years old.

>>29093668
>AIEEE MY CHILDREN DONT TALK TO ME ANYMORE BECAUSE I REVERSE MORTGAGED THE HOUSE TO BUY BEANIE BABIES AND COMMEMORATIVE PLATES!!!
~some retarded boomer

>>29092180
for conventional investments this basically never happens and is the reason there is a "Leveraged Investment" button in robinhood that every financial advisor ever says to never ever touch ever (and will actually DISABLE for you if you lose too much money on it because even they can't be that predatory)

>>29089194
Taking a loan on a depreciating asset is never a good idea, unless you're getting like 0-2% interest and your money can make you more elsewhere, but these days the average car interest rate is 7%, you'll pay an extra 50% on the price of the car by the time you're done paying it off and it'll be a worthless asset.

>>29094278
>Taking a loan on a depreciating asset is never a good idea
it can be a good idea if the investment is non-financial. a car is an "investment" in that it enables you to have a fucking job and make any money at all

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>>29091691
Hey, I can only afford $7k for my setup right now, and I have no contacts at Konami to hook me up with a real cabinet or a subscription service since I don't own a Round1 franchise. That gets me SMX stages with the 9-panel mods, a 360 Hz gaymer laptop, over 4000 songs to play, a 2.1 system, and a 240 Hz TV. Good enough for me.

I'm a brokie, got it.

>>29094289
i saw a ddr mat at Value Village today for 3.99

woulda copped it but it had some weirdass connector and i aint reverse engineering shit

>>29094288
You can get a fully functional car for under $2000. Most people who are bad with money don't do that, they go and get an $800 a month loan on a $60k BMW and then wonder why they have no money.

>>29094369
true but also welcome to america motherfucker

>>29093668
in america you are almost forced to buy a car so that you can go to work and survive. they are absolutely an investment but not necessarily in financial terms.

>>29089694
I sold a mechanically sound 01 Corolla for $500 last year anon.
Sure it was super rough.
But it rana and drive fine.
Still got 37mpg highway

Shit boxes exist, you are just too lazy to look.

>>29094474
which state

>>29089222
>>29089224
Didnt slow me down when I bought cash

>>29089702
>1960s car
>drive it till the wheels fall off

So you made it to like 1978? Alot of 60s cars were built like crap and rusted away, the ones we still see on the road with collectors are survivors that have been heavily restored or were locked in a barn for 40 years.

>>29089702
Uhh you might be retarded lil bro. $1000 in 1960 is over 11k today.

>>29094474
If it worked fine why did you sell it?

>>29089182
I don't even qualify for a loan. I never used a credit card or been a good goyim to buy a house as I live at home as NEET. Must suck being a normie cattle in debt over their goytruck or niggsan altima.

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>>29094858

$36,000 left on my loan. Resell value $40,000

>>29094478
Near Seattle WA

>>29094856
It was too rough to go on dates with.
So yes Pussy made by decision.
And yes it worked, or atleast didn't hurt

>>29094858
What's the plan for when the 'rents go?

>>29095275
Same thing that happens when goldbergstein lays you off, I suppose

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>>29095279
I'm in business for myself, how do you plan to source clients and what skill set do you have

>>29095280
good for you nigga but have some sex and relax

>>29095282
You need to make yourself useful before the NWO forces you to dig coal for free

>>29089182
This is why you're supposed to buy gap insurance

>>29098093
Actually you're supposed to not go into (((debt))) for something you can't afford but whatev

>>29094858
serious question here (sincerely) do you ever feel bad about wasted potential, or a life half lived etc?
Are you truly content, or is it just an elaborate coping mechanism?
actually asking, the neet mindset is fascinating.

>>29098183
>chasing debt
>living life
pick only one

>>29098188
??
retarded non sequitur ... but okay, cool.

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I only buy cars in Cash

>>29098174
>i don't know what gap insurance is

>>29098194
NEET with no debt >>>>>>>> peer pressured insecure fatso with debt

>>29098233
it's like your intentionally misreading my posts to be a cunty, edgy faggot.

>>29098254
>your