My friend can't buy a house

[profa_212]

What new car is 250/month that's not a collosal piece of shit?

every car on the market with a large enough down payment.

 

[Farmville420]

What new car is 250/month that's not a collosal piece of shit?

Down payment / trading in a car and getting a model within your means. I got a 2019 CX-5 with 30k miles (for any rational human that’s considered new, especially seeing what my friends drive lol) and traded in my car + some cash for a down payment and that’s roughly what my first payments are looking like. Obvs with interest it will get more expensive but not every car is a Toyota 4Runner Lmfao

 

[ASSholebomber22]

every car on the market with a large enough down payment.

With a downpayment that size you can buy a very reliable car you don't have to worry about. But nice things are nice too.

 

[Lonely]

I know I'm paying a bit more a month on my car than I really needed to for the warranty...but then again it's a ford so it may end up being worth it even though it only has 30k on it. I feel silly about buying it sometimes but I enjoy it, it's held it's value quite well, and my payments are like 10% of my monthly income after taxes so I can live with it. Spent so much time driving shitboxes, it's nice to have a car that I don't have to worry about blowing up on me 4 hours into my 8 hour drive.

 

[GayWolf420]

Renting fucking sucks, too. Like it sucks that he can't afford a mortgage or has limited inventory but how's about paying predatory rates for some asshole to make their mortgage?

 

[WoFIowz]

I like cars with low mileage and factory warranties. Plus you just sell it back to dealership and make up a massive chunk of what you paid, you wind up paying like 1/2 the price of the car and can continue to drive new and nice models. I get owning shit is cool but idgaf about cars they’re a utility in my eyes doesn’t matter who owns it as long I can afford it then whatever

If you're selling back to a dealership you're doing it wrong. They're easily paying you 10-20% less.

It sounds like you're talking about leasing, which is basically the equivalent of apartment rent in terms of value.

 

[Farmville420]

If you're selling back to a dealership you're doing it wrong. They're easily paying you 10-20% less.

It sounds like you're talking about leasing, which is basically the equivalent of apartment rent in terms of value.

I specifically said leasing is stupid, I’m talking about auto loans, and yeah selling 3rd party gets you more money but it’s also work and effort. Also fleecing dealerships is super easy they don’t inspect cars at all lol

 

[BradFiAusNzCoCa]

Yeah my family always did this. Bargain hard on the trade in

I specifically said leasing is stupid, I’m talking about auto loans, and yeah selling 3rd party gets you more money but it’s also work and effort. Also fleecing dealerships is super easy they don’t inspect cars at all lol

 

[WoFIowz]

I specifically said leasing is stupid, I’m talking about auto loans, and yeah selling 3rd party gets you more money but it’s also work and effort. Also fleecing dealerships is super easy they don’t inspect cars at all lol

That is true about they don't inspect shit lol so if you got something major in the future they might be a better choice

 

[Farmville420]

Yeah my family always did this. Bargain hard on the trade in

That is true about they don't inspect shit lol so if you got something major in the future they might be a better choice

I traded in a car with $7000 worth of necessary repairs and they didn’t detect a single one. They also don’t give af they can fix whatever they need to for like 1/100th the price a normal person would pay

 

[Newsheepers]

toe pics $$$$

 

[.frenchy]

That is not true at all. I’m from the south.

You’re really going to base these opinions on the south from your time in a city that has SAVANNAH COLLEGE OF ART AND DESIGN? That’s like artsy kid central.

**This post was edited on Mar 29th 2023 at 11:56:50am

i didnt live in savannah lol i was naming the closest major city. savannah is the shit tho, good country bars too. that college sucks and everyone knows it anyway. GA southern is where its at

 

[Casey]

Didn’t read the thread but 45k truck loan sounds reasonable enough and if you want a mortgage you better have a credit history or you ain’t getting shit so this is probably a wise move long term.

 

[TOAST.]

Didn’t read the thread but 45k truck loan sounds reasonable enough and if you want a mortgage you better have a credit history or you ain’t getting shit so this is probably a wise move long term.

45k truck loan is not reasonable, unless you NEED a truck for part of your livelihood.

You don't need that much credit history to get a decent mortgage. Doubt lender wants to see 40% of somebody's income going to a truck.

 

[ASSholebomber22]

Didn’t read the thread but 45k truck loan sounds reasonable enough and if you want a mortgage you better have a credit history or you ain’t getting shit so this is probably a wise move long term.

I secured 3.3% fixed rate 30yr mortgage, have great credit and never have had a car payment. An $800/month truck payment with required full coverage insurance doesn't sound like the best financial decision unless you can write it off for a business imo

 

[BradFiAusNzCoCa]

Yeah it’s “artsy kid needs a degree” school. I went to CofC 2 hours away in chucktown

i didnt live in savannah lol i was naming the closest major city. savannah is the shit tho, good country bars too. that college sucks and everyone knows it anyway. GA southern is where its at

 

[skierman]

I secured 3.3% fixed rate 30yr mortgage, have great credit and never have had a car payment. An $800/month truck payment with required full coverage insurance doesn't sound like the best financial decision unless you can write it off for a business imo

"I secured a low rate by using my parent's money to outbid other people and drastically overpaying for the property!"

Uh... congrats?

 

[ASSholebomber22]

"I secured a low rate by using my parent's money to outbid other people and drastically overpaying for the property!"

Uh... congrats?

Damn what no money does to a mf. Get your bands up bro, how's the yt channel going?

 

[ASSholebomber22]

"I secured a low rate by using my parent's money to outbid other people and drastically overpaying for the property!"

Uh... congrats?

The newest car I ever owned was an '04, I paid for school myself, saved nearly a decade for a downpayment, and grew up with a single mom in a fuckin trailer lmao I'd be scotty salty too if I was in my 30's and missed the best time in History to buy a home.

 

[skierman]

Damn what no money does to a mf. Get your bands up bro, how's the yt channel going?

Congrats on that low interest rate, upside-down mortgage, you fucking idiot. LOL

 

[ASSholebomber22]

Congrats on that low interest rate, upside-down mortgage, you fucking idiot. LOL

I'll let you know when my house depreciates. If the market crashes I'll just cop something on the low low and make some malding ginger kook pay my mortgage with his rent

 

[Casey]

I secured 3.3% fixed rate 30yr mortgage, have great credit and never have had a car payment. An $800/month truck payment with required full coverage insurance doesn't sound like the best financial decision unless you can write it off for a business imo

Kind of depends I guess. I mean if you can’t afford the vehicle or the payment then don’t do it, I was mainly just thinking about how expensive trucks are 45 grand would get you like a base model Tundra these days.

But anyway I financed my truck fully when I bought it. Yeah it sucked to have a payment but I’ve had it for 11 years now and it’s super solid and been paid off for 6 years. If I bought a cheaper truck back then I’d be probably looking at upgrading by now.

 

[ASSholebomber22]

Kind of depends I guess. I mean if you can’t afford the vehicle or the payment then don’t do it, I was mainly just thinking about how expensive trucks are 45 grand would get you like a base model Tundra these days.

But anyway I financed my truck fully when I bought it. Yeah it sucked to have a payment but I’ve had it for 11 years now and it’s super solid and been paid off for 6 years. If I bought a cheaper truck back then I’d be probably looking at upgrading by now.

I hear that. I go back and forth on buying new. A truck especially. Hard for me to make that leap but damn it'd be nice. Those new tundras are so sick

 

[Ski_Alot]

Didn't read the thread but have a similar issues where my house can't buy a friend :/

 

[WoFIowz]

I secured 3.3% fixed rate 30yr mortgage, have great credit and never have had a car payment. An $800/month truck payment with required full coverage insurance doesn't sound like the best financial decision unless you can write it off for a business imo

?

"I secured a low rate by using my parent's money to outbid other people and drastically overpaying for the property!"

Uh... congrats?

Lmao judging by the interest rate, he likely bought around the same time I did when the market was wicked hot. Houses were going up for sale and going into contract within days. You HAD to over bid people to even have a seat at the table. The only reason we won the bid on our house was because we offered 6k over appraisal and waived inspection contingencies (this was big and allowed us to beat a much higher offer). The only reason we bought a house was because apartment rent was outrageously rising 5-10% a year and mortgages were inherently cheaper.

Laugh all you want (or cry about apartment life), but I'm sitting on 150k difference from remaining mortgage balance, ~50% appreciation, and likely sale price today, after 3.5yrs. I'm sure he's in a similar situation. Pure luck for me tbh. I was just searching for an affordable home at the time rather than maxing out DTI and buying a 500k house like other idiots my age.

**This post was edited on Apr 28th 2023 at 8:42:49pm

 

[WoFIowz]

Good read for those in states with rent control. Ohio made a law banning these last year. Should be a good thing in the long run. Columbus was very close to enacting rent control which woulda exacerbated all the issues we have now

https://freopp.org/rent-control-paper-f565f84517c5

 

[Casey]

Good read for those in states with rent control. Ohio made a law banning these last year. Should be a good thing in the long run. Columbus was very close to enacting rent control which woulda exacerbated all the issues we have now

https://freopp.org/rent-control-paper-f565f84517c5

Washington just passed a law effectively banning single family home zoning. Basically everyone can build a 4 plex or a 6plex if they are within a certain distance of mass transit. Shits gonna get wild out here real quick