New car for the fiancee

[buster]

I'm not advocating debt, trust me. If I could get rid of it tomorrow I would. It's very dangerous. However, my line of thinking is similar to Patman's and Tenderloins. I'm going to live my live and not worry obsessively about money. That is a waste of time and energy! Not worth it.

BTW, the manual mode in her car is very cool.

Good little car.

 

[97tbird]

Debt is OK in a lot of situations, depending on the goal you're trying to reach by being in debt: think of financial aid for college: me, my wife, and many students in our pharmacy school depend on financial aid for tuition, and we both work a lot part time while going to Rxy school full time, so we have money for other expenses. Financial aid, we try to get the minimum needed amount; it's debt, but we know once we get out, the money will be good enough to pay it off quickly.

I wonder how it would be if all med or pharmacy students were students who got their education covered by their parents...there'll be a much larger shortage of pharmacists and MD's than now...
Not all of us a are so lucky that we don;t have to work, and be spoiled 'cause parents pay everything or you're born rich. There are some spoiled people like that in our class, who drive a $40k car, and never have to work during college. I guess they're lucky and it's not their fault, but not everybody has that luck...some of us have to be in debt.
as long as you watch it, and not let it get out of control, and know that you have a plan/goal which will make it worthwhile, then it's not that bad.

 

[Al]

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I'm going to live my live and not worry obsessively about money. That is a waste of time and energy! Not worth it.

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As someone above said (essentially)..different strokes for different folks. (To me) saving and planning a very secure future (where I put my both kids through school with no problem) was never a "worry" for me. On the contrary it was very fulfulling knowing that I was building a secure future and at the same time I knew I could essentially buy what I wanted.

I can honestly say in the last40 years I never once 'worried' about money.

 

[PT1]

A good financial plan includes 20-30% of your income steered towards paying long term debt. Credit card junkies are no different than heroin addicts...both a nice business prospect. But debt should be used for long term appreciating assets, transportation, education, real estate. That's all. Make a plan to win and you won't be afraid of debt. Finance yourself and you are in a win-win. Every automobile should be driven 100k minimum UNLESS it is a business vehicle that generates all it's write off in the first 50,000. Use your head (the big one) and not your heart when financial planning and by all means hire a professional to help with planning & tax preparation. But you should spend 25% of your income on "fluff" that motivates you to work hard...all work and no play makes you boring and you will die early...all you zero debt guys are cheating yourselves with a false sense of security. Read Donald Trump's books.

 

[Greggy_D]

Once again....who says the zero debt guys are cheating themselves? The zero debt guys can afford to pay CASH for any toy they want and have all the fun they want. Zero debt does not = boring.

 

[berge]

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I say dump the money wasting VW and put her in a new shiny ride now before you are married. Tell her you are so attracted to her that you would buy her anything....get some roses and a bottle of champagne the day she gets the new car and go to dinner in it. Have sex in the back seat. Make her feel like a million bucks now.......because later on you will have the chance to feel poor and lonely once you have a couple of kids and they suck the life and money out of both of you.

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bravo

 

[Cutehumor]

the ones I know who are debt all the time say "you can't take the money with you when you die" I live now for my future kids education. I don't want them to struggle like I did growing up dirt poor.

 

[Jeepster_nut]

There is a show on the A&E channel about people who's finances are so screwed up and are in so much credit card debt. This tough looking financial guy helps them with a budget to get out of debt. Sometimes it works and sometimes it doesn't. Most of the time the person doesn't even realize what they owe in credit card debt. It's pathetic. Everytime I watch it it scares me straight about ever going into debt for stuff that is (to me) #@$%!. The things we own end up owning us if we don't watch our spending.

 

[Thermo1223]

The big thing people get bundled up in today is 0% for 1 year, I personally use that to my advantage. Buy what I want, and pay the card off before the year is over. The minimum payments are never high.

Nothing wrong with paying for a car with a loan. Especially if you make double payments or get 0% financing.

Did you try out the New Rabbit or Jetta?

World better then a Cabrio, #@$%! even my Jetta is. Cabrio's were not the best idea VW had back then, the New Beetle 'vert is fabulous though if you don't mind the shape.

 

[PT1]

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There is a show on the A&E channel about people who's finances are so screwed up and are in so much credit card debt. This tough looking financial guy helps them with a budget to get out of debt. Sometimes it works and sometimes it doesn't. Most of the time the person doesn't even realize what they owe in credit card debt. It's pathetic. Everytime I watch it it scares me straight about ever going into debt for stuff that is (to me) #@$%!. The things we own end up owning us if we don't watch our spending.

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The flip side of that coin is my wife and I buy everything all year on credit cards that offer cash back rebates or discounts....we pay every statement off in full every month and pay no finance or use charges except to Amex who gives us 2 free round trip airline tickets every year. Our average savings=$3,500 per year. We self finance all auto purchases with our equity line of credit so all the interest is deductable at a prime -1.5% rate. We get free AD&D insurance for $300k each from credit card companies and I have a disability policy for $2MM which costs $20/month. My point: All interest rates...yes Toyota discounted their rate to 2.8% to get our loan last time and GMAC does it too as well as ALL credit card companies...if not..we self finance or walk. USE YOUR CONSUMER POWER......you all have it...you just don't know it. FWIW, our mortgage company dropped our interest rate on our home 1.5% for a $165 fee last year. I found an ad in the paper where they were offering 1st time buyers the discount......called em up and said I was leaving unless they gave me the same rate. SO, you can use debt to your advantage.

 

[alanu]

The VW will forever remove money from her wallet. The cost of having a reliable ride with limited uneccessary trips to the dealership is worth more in happiness and piece of mind.

Congrats on a better reliable ride.

 

[buster]

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The VW will forever remove money from her wallet. The cost of having a reliable ride with limited uneccessary trips to the dealership is worth more in happiness and piece of mind.

Congrats on a better reliable ride.

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Thanks!

 

[Mr Nice]

If she kept the car for another 6 years, how much more $$$ will she be dumping into a car that has soooo many problems.

Its not like she bought a brand new M3 BMW.

 

[Bryanccfshr]

All this talk about financial responsibility and taking care of the kids college funds makes my head hurt(and makes me feel fortunate to have made the decisions together with my wife that led to our freedom from such obligation)

Let her enjoy a new car with less worries. Enjoy what you want to now because life is incredibly short. (sure put away a nestegg but don't obsess) You don't have little ones and she's about to start a busy career.
Congrats and enjoy!