I think I am getting better at this being a grown-up bit.

[royalfan5]

So I was all set to trade my car in for a new one. I had financing lined up at a good rate, and a decent pile of cash for down payment. I had test driven several models. However, because I was a dip**** when I was 22 and got a six year car loan thinking it would help me build credit and get me the car I wanted them, I was underwater on my current car. Not by a huge amount, but still underwater. Now I ran the numbers on what I would have to pay if I bought now, and I could afford it without crimping my lifestyle.. But then I thought, "royalfan5, you would be pretty ****ing dumb to do this now when you could wait till the end of the year, and have a much larger pile o'cash to buy a better car, and not give away money with your current car" So I decided to do that instead. I'm actually kind of proud of myself right now.

[reevie]

Good Job

[TUSooner]

Yay. It's not necessarily great big decisions that make the diff, sometimes it's a bunch good little ones.

[StoopTroup]

Plus you need something that will run on corn.

[colleyvillesooner]

Nice

[Sooner24]

Now if you could only impart some of your wisdom on Sic'em

[yermom]

SicEm would have wrecked that car by now

[Frozen Sooner]

So I was all set to trade my car in for a new one. I had financing lined up at a good rate, and a decent pile of cash for down payment. I had test driven several models. However, because I was a dip**** when I was 22 and got a six year car loan thinking it would help me build credit and get me the car I wanted them, I was underwater on my current car. Not by a huge amount, but still underwater. Now I ran the numbers on what I would have to pay if I bought now, and I could afford it without crimping my lifestyle.. But then I thought, "royalfan5, you would be pretty ****ing dumb to do this now when you could wait till the end of the year, and have a much larger pile o'cash to buy a better car, and not give away money with your current car" So I decided to do that instead. I'm actually kind of proud of myself right now.

Why not put a chunk of that money you were going to use as a down payment on the car you own now so you're not underwater on it anymore AND you don't have to pay interest on the money any longer?

[yermom]

that's crazy talk

[royalfan5]

Why not put a chunk of that money you were going to use as a down payment on the car you own now so you're not underwater on it anymore AND you don't have to pay interest on the money any longer?
Because the bank closed at noon on saturday. That's pretty much the next phase of the plan.

[Frozen Sooner]

Because the bank closed at noon on saturday. That's pretty much the next phase of the plan.

They don't have online banking?

[olevetonahill]

Why not put a chunk of that money you were going to use as a down payment on the car you own now so you're not underwater on it anymore AND you don't have to pay interest on the money any longer?

Then drive the current ride till It wont go no mo then spend all the Bucks youve saved and Buy a nice 1 or 2 yr old ? and save a brazillion ?

[Frozen Sooner]

Yeah, pretty much. Depending on how the law school plans go, I'm either going to do that with my current ride (hopefully have it paid off before I go back to school) or I may just have to go semi-carless in Arizona.

Edit: However, I think that royalfan is going to have problems buying a 1 or 2 year old in a city named for Lincoln. :)

I'm also sort of one of those people who thinks that when you buy a used car you're buying someone else's problem-there's a reason they sold it after only one or two years. Yes, I'm aware of the depreciation curve on a new vehicle-that's why it pays to do your homework before you buy and never pay MSRP.

[royalfan5]

They don't have online banking?

I don't have an online set up with the bank that holds the loan.

[royalfan5]

Yeah, pretty much. Depending on how the law school plans go, I'm either going to do that with my current ride (hopefully have it paid off before I go back to school) or I may just have to go semi-carless in Arizona.

Edit: However, I think that royalfan is going to have problems buying a 1 or 2 year old in a city named for Lincoln. :)

I'm also sort of one of those people who thinks that when you buy a used car you're buying someone else's problem-there's a reason they sold it after only one or two years. Yes, I'm aware of the depreciation curve on a new vehicle-that's why it pays to do your homework before you buy and never pay MSRP.
That reminds me I need to update my location.