NSXNEXT

iTrader: (2)

I just finished reading the following post and it just makes me realized how f$cked up some of your priorities are.
http://www.acura-tl.com/ubb/Forum1/HTML/003339.html

People are taking out loans for 15% - 20% interest on A CAR!!!! Come on people, what the hell are you thinking. If you can't get decent financing on this car, maybe you shouldn't get it. Maybe buy something a little less expensive.

Co-signers or guarantors...wtf is wrong with you. If you can't get credit on your own then buy a cheaper car.

IT'S ONLY A CAR. My first car was a 1979 Pontiac LeMans. What a piece of crap. But you know what...I could afford it.

The guy who mentions that he makes $100K a year and can't get a car loan... huh? Is it because you are in debt up to your eyeballs??? Sh$t, I'd pay cash if I made that kind a coin.

Again, I read this and think how lucky I am... 31 years young, great career, own my own home, fiance, 401K maxed out, nice chunk of change in the bank, AND I drive a nice car, but didn't risk my financial well-being to do it.

Sorry to bash, but people grow up and get your priorities in line.

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1999 Silver TL Non-Nav, factory underbody kit and spoiler, 20% tint, Ractive intake, Clifford Intelliguard 9000 alarm, Alpine CD changer, Comptech springs, exhaust, and headers.

Guest

What do you mean..."it's only a car"? You are so out of line!!!

j/k

grishulia

LOL... first I'd like to say that I neither approve or disapprove getting 20% loans... like you said, its all about priorities...
Hey if I wasn't married and had a baby I would've maxed myself out for a BMW or a MB... even without maxing out I could pay $1000 a month for a lease...
But I'd rather go on a nice long vacation to Europe than buy a house... so what...
The thing is... you only live once and you HAVE to enjoy it... just think about your position....
You are all nice and confortable about your retirement plan... trying to retire early, at 62 not at 65... maxing out your 401K... but maybe you are still missing something...

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Just my 2 cents...

NSXNEXT

iTrader: (2)

Your sooo right Ramsen. What was I thinking...

hunter001

I agree wholeheartedly.....I would never go for a car which I cannot comfortably afford....also would NEVER buy a car at such stratospheric interest terms....I am also 31, and paid cash for my "pride and joy"...

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2000 Naples Gold 3.2TL/Navi - Factory Stock but with up-graded tires

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AcuraJoe

I do agree with you for most part of it NSXNEXT, but a car is definitely not just a car. When you are buying a car, you are investing a $hit loads of money on something that you are going to rely on for most of the things people do. I agree that if you can’t buy some expensive car…don’t, but do buy a car that you know, after long period of reaserch, will serve you GREAT for a long time!

NSXNEXT

iTrader: (2)

Good points Grishulia... but what happens tomorrow when these people desperately need money for an emergency, home repair, illness... and oops I spent it all on a car... A CAR.....

Another loan... you'll need a pretty big shovel to dig out...


Again I'm not bashing, just wondering what these people think about the FUTURE...

mentl

Good God I hope that everyone here is maxing out their 401k's.

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2000 Navi TL White Diamond Pearl
(they're magically delicious)

NSXNEXT

iTrader: (2)

AcuraJoe, come on... a car is a depreciable asset not an investment. There are plenty of very well-built automobiles out there that don't require you to mortgage your home to get.

Unfortunately, you know and I know that these people don't keep these cars for "long periods of time". They do the same thing every couple of years, only bigger and more expensive..

QUIETSTORMMVN_IN

NSXNEXT and Grishulla, I agree with both of you! I think you have to set priorities and goals, but at the same time you don't want to spend your life saving up for retirement. There is no way i would buy a car (again) for over 10% APR. I feel you waste a lot of money. But if you have not established credit than there is no way to get around the high finance charges, even if you buy a little metro!

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2000 Fire Pepper Red/ebony TL, non-navi. factory spoiler, std chrome wheels, 35% tint, comptech exhaust, wood trim kit...
Quiets ride

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AcuraJoe

good point NSXNEXT... most people here don't keep there car long like we do.


MONEY IS NOT SOMETHING YOU WOULD JOKE ABOUT

Nate

Why do I feel this is aimed at me?

If my priorities are to get TL over all else then so be it... you can't bash me for that.

I did do the math. Lets see... I put $9k down... $23k borrowed at 20% for 6 years... $550 a month... comes out to $40k paid to borrow $23k. No way that is going to happen.

Intrest only hurts in the long run. If I pay off the car within 12 or 18 months, I won't be very much worse off than if I had a 3% intrest rate. I'll post actual numbers when I get home tonight. It comes out to about $2k a month - $1800 for the car payment and $200 for insurance. That leaves me with around $700 a month.

After the car is paid off my credit will go through the roof and I can think about a house or condo.

The only place where I'm fawking up is taking some of that cash I should be throwing into the bottomless money pit that is my car and spending it on mods.

My parents are in their 50s and just recently bought their first brand new car. Not everyone gets a chance to do that.

Oh, I'm too young to even get the 401k! I start it this July. On their little charts they say "you'll make this much if you give this over these many years"... I'm so far off the chart its ridiculous.

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Alumapro BP-10, ZX400TI Phoenix Gold, Python 1500 ESP (remote start, all windows up & down, sunroof closes, prox, etc), burlwood dash kit and shift knob, factory spoiler, factory body kit, Inspire tails, Polarg M-12 front signals.
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<A HREF="http://www.acura-tl.com/ubb/Forum6/HTML/000106.html" TARGET=_blank> Nate's ride!</A>

Gomez

Gee, NSXNEXT - as long as you're on the soapbox I'll step up, too:

The last thing that will push someont to take another's advice (like yours) is when the person pushing unsolicited advice peppers it with 'see how much better off I am than you' such as 401K, house, yadda yadda yadda.

Awfully smug, aren't you? maybe next time you can just scan and post your tax return, too! Go sit in the corner and think about what you've done...

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'01 White Diamond Pearl 3.2TL
-Wing, tint, burlwood shift, Whistler 6-band
'88 White RX-7 Convertible
-Permanent tinitus courtesy of Rockford-Fosgate

bdimc2001

hey Charles,

Your talking about me right? Well, I guess so. Anyways I'm only 21, I can definitely afford the car. And yeah I am in deep debt, but that doesn't mean I can't go buy this car, before this car, I had a 99 MB C280 Sport, i only kept it a week, b/c I saw the TL, and how comofortable it is. i hated the sport suspension on the MB, it's horrible. Plus the TL has lots more stuff in it as well. But the cars are not under my name, it's under my Pops name, and I 'WAS' the co-signer. My pops has horrible credit, but his insurance is alot cheaper then mine. With interest and all we'll have to pay $44K for the car for 5 years. That included an $2k extra extended warranty on the 5th year. But we don't intend to pay all of the $$$.

What were gonna do is, pay it a few months, then get another loan from a bank or something and pay off the original loan, maybe $33K? That'll save us a bunch as it will also lower our interest rate as well, so that's the plan. Yeah, I go to school full time and work full time as well. But it's sick to pay $4K on insurance a year. I hope that cleared some things up. My priorities are in order, believe me.

Oh, I am a financial planner by the way, licensed in NY & NJ, got the licenses when I was 19. and own half a restaurant. how's that for priorities. BTW, do you have an annuity? or insurance policy charles? since you maxed out your 401K that's the next best thing to do, advice as a friend.

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2001 Acura 3.2TL w/ Navi Black ext. Ebony int., Sunroof Visor,
35% Smoke Metallic Tint, Burlwood Shiftknob and more to come!

Stereo System Coming!

Nate

I really don't think he meant anything personal by it, just that he was surprised some people would do such a thing. I do believe money makes the world go 'round, but I am willing to risk some in order to come out on top.

yu888

Let's face it, the majority of us do very well and thus the TL is an appropriate car for our uses and needs. We are passionate about our car(s) and like to personalize it in different ways, and for the most part we do so b/c we like the car. There are a people in this society that feel the car will help them make a better impression, or make them feel better, and that's ok too, if it works for them. But I agree with the overall idea that we need to keep an eye on the future as well as satisfying the need to live it up along the way. (15-20% INTEREST IS A LITTLE HIGH YES?) Tough balancing act, but it is something we all do in our own way. I don't know if I support the outburst that NSX next presented us with, and I am less certain that this is the appropriate forum to do so, BUT... maybe this will generate some thinking for all of us.

NOW, can we go back to discussing our "toys" like we normally do?

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Guest

Wow, aren't you sitting on a high horse?

If someone wants to spend XXX% of his income (disposable or not) on a car, who are you to judge? No matter how silly or stupid it sounds to YOU, others may choose to do it anyway.

Something I learned a long time ago:

Most people spend money to feel good, whether they can afford it or not. Think about it- You buy things that make you FEEL GOOD.

I'll admit that I think more like you, as I'd never go into any serious debt for a car, but I'd never have anything negative to say about someone that would......it's their prerogative.

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'01 CL Type-S Navi
'99 M3

bdimc2001

Yes, true true, well I didn't exactly pay 15% more like 14.4%, anyways the TL will definitely help my father and me out as far as our credit is concerned in the long run. That's what we thought of first. We don't plan on paying it forever. The same point that Nate made earlier, right now we are putting in $1K a month towards payments, that are normally $642 for 60 mos.

I think NSXNEXT come off a little harsh on the subject, but damn, am I glad I found other people who are paying higher interest then me, I thought I was the only idiot.(not intended to offend anyone, ok.)

As far as my own personal finances are concerned and life priorities, none of your damn business. At least I am not like most kids, wasting their time smoking pot and hanging out doing nothing. I am looking towards the future, b/c I wanna retired by the age of 35-40, not when I am 60-65. Shit I wanna enjoy life, so I work my ass off now! oh and still be able to enjoy some of life's pleasures(TL).

I've tried the drinking and smoking thing in High school b/c that was the kind of crowd i was in.(NJType-S knows that crowd) Not for me, waste of time.

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2001 Acura 3.2TL w/ Navi Black ext. Ebony int., Sunroof Visor,
35% Smoke Metallic Tint, Burlwood Shiftknob and more to come!

Stereo System Coming!

MikeS

I learned along time ago, buy a little more than you think you can afford. I used to buy what I thought I could afford and was discontented shortly therafter. When I bought, we were seriously looking at an Accord V6 loaded out. When I saw the TL was within 3K and what it had with it, it was a no brainer. I love my car, but I put 12K down and financed the balance at 6.5%.

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2000 TL - Laguna Green, Navi, Rear Spoiler. PIAA Hyperwhite HB's. Soon to have 17" or 18" wheels. Comptech Suspension, Sways & Axle back Exhaust.

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MToker

AMEN! I dunno IMHO if someone wants to put a ton of money out for their car so be it.


Well your priorities are aren't everyone elses. Glad to see your happy with your life but did you think other people aren't? No one forced them to pay up the nose in intrest it was their choice. No matter if I disagree or agree with your opinions I wouldn't attack someone because of it.

Just felt you should look at the otherside of the coin.

Merry Xmas

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2000 Laguana Green / NAVI, Burlwood Shifter, 35% Mirror Tint all over,2 x JL12W6s, Pioneer Premier P920R, MB Quarts Coaxial, PPI 2600.2 and 4400.2 , Pioneer 620 6Disc
My Acura

Aralan

I'm no expert on the meaning of life.. hell, I'm 20, I have (I hope) a lot of living left to do. But I know this much is true: Life is only what you make of it. Everyone has various responsibilities. Providing that those are taken care of, I don't think I could criticize someone for doing what pleases them.

I spend time thinking about what I'm doing with my life nearly every day. In the end, I always conclude that I'm living to enjoy a few precious things. My family, friends, and Kelly come before all else. After that, I've got the joy of my profession, and my car. I love driving, and dollar for dollar, and pound for pound I get more enjoyment out of being behind the wheel of my '99 TL than I get out of *anything* else I have purchased. I'm sure that seems silly to some people, but that's what makes me happy. My next major purchases will be a house, and (most likely) a CLK430 (or a TL-S if I can't make myself wait). To one of NSXNEXT's points, my 401k will definately begin to see some serious dollars in it after my next raise. I rather enjoy the idea of being a millionaire when I retire, and while my goal is to be far more wealthy than my 401k will allow , it's alyways a good idea to have a backup plan.

On the loan thing, I must say, it's pretty difficult to get a car loan when you're young and don't have much credit history. Honda Finance denied my application. My credit union saved me, granting me a loan for up to
$32,000 @ 7.95% APR for 5 years providing that I paid 20% of the retail value of the vehicle out of pocket. Unfortunately deals like this are hard to come by at a young age.