Quote:
Originally Posted by pwd72s
Chris, ever sit down with the poor lady with a pad & a calculator? Not only the depreciation hit, but the interest paid?
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Do you think someone who does this kind of thing is willing to listen to other people?
Actually, most of the problem is that her husband (who in the 4 years I've known him has never held a single job longer than six months) destroys/desires a new car every six months. And her husband is another thing she's unwilling to listen to other people about...
Quote:
Originally Posted by Steve Carlton
She's going to be more and more upside down each time she does that unless she puts a lot of money down. Assuming she pays sales tax every time she does this, she should lease instead since you only pay tax on the monthly payments instead of the whole enchilada. I'm assuming she lives in a state that doesn't require all the tax up-front. I've heard of NY doing that.
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I'm pretty sure she puts down the absolute minimum each time to close the deal. I'm pretty sure that she's in the mid-30's on a loan balance on a series of sub-20 cars. She and her husband
intend to own the cars for awhile, he just gets bored with them or crashes them...maybe because he's bored with them.