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Exiting the rat race

jimmydean

The Official Meat of Ridemonkey
Sep 10, 2001
40,931
13,129
Portland, OR
Let me know how flipping cars has worked out for you...:D
$4k purchase with a blue book value of $11k after $500 deductible worked out kind nice last time (was going to sell it for $6k in the Spring). :rofl:

I bought my C5 at about $4k under book, but after the release of the C7, the C5 value hit the floor, so I'll keep this one rubber side down.
 

stoney

Part of the unwashed, middle-American horde
Jul 26, 2006
21,513
7,056
Colorado
$4k purchase with a blue book value of $11k after $500 deductible worked out kind nice last time (was going to sell it for $6k in the Spring). :rofl:

I bought my C5 at about $4k under book, but after the release of the C7, the C5 value hit the floor, so I'll keep this one rubber side down.
Who knew? Flipping cars (literally) could be profitable.
 

Toshi

Harbinger of Doom
Oct 23, 2001
38,029
7,549
I've witnessed a tempering in my own material desires as I've gotten older, but haven't achieved the Zen embodied in Mr. Money Mustache.
Relevant:

http://www.mrmoneymustache.com/2016/10/26/notes-on-giving-away-100000/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+MrMoneyMustache+(Mr.+Money+Mustache)

CN: Mr. MMM donated $100k in one fell swoop. There are a shitload of worthy charities, and those that work in the 3rd world can make donated money go much further.
 

Toshi

Harbinger of Doom
Oct 23, 2001
38,029
7,549
Few people care about more than their monthly payment... all flash and no cash. Its the American way.
Then you have sob stories like this:

https://jalopnik.com/worlds-kindest-repo-man-pays-off-elderly-couples-buick-1789380577

What the fuck is an elderly couple doing making/not making $95 payments on a 1998 Buick? Take the bus, count your SS dollars, and acknowledge that you've fucked up for the last 6 decades or so but don't shovel money to usurious buy here-pay here lots.
 

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
40,137
16,532
Riding the baggage carousel.
What the fuck is an elderly couple doing making/not making $95 payments on a 1998 Buick? Take the bus, count your SS dollars, and acknowledge that you've fucked up for the last 6 decades or so but don't shovel money to usurious buy here-pay here lots.
We had a 98 Buick Century for a while. When we got it from my grandma in was 6 years old with less than 6000 miles. Was a great car actually. Drove like shit in the snow though.

I can't even imagine the thought process that goes into buying a new car when your upside down on the one you're trading in. When we bought the Mazda, we hadn't had a payment in years, we put a big chunk down, and I still felt like a sucker making a horrible financial decision.
 

jimmydean

The Official Meat of Ridemonkey
Sep 10, 2001
40,931
13,129
Portland, OR
Doin' it wrong:

https://jalopnik.com/a-record-32-percent-of-car-buyers-are-underwater-on-the-1789425396

CN: 32% of car buyers bring negative equity in their old ride to the table. I don't have a big enough :facepalm: for this.
Bought my car 3 years ago for $14k, currently owe about $4k, Blue book trade in value is $7k. Winnar.

The ex's POS Malibu was paid off before they gave us about $1500 for it (it was only 7 years old). :rofl:

So what is the better deal? Lease and return or buy new and trade at a loss if you don't have a fat down? Honda does $199/month lease that is about half of the payment of new. I have never bought a "new" car because most people know the depreciation is mostly in the first 2 years.
 

Toshi

Harbinger of Doom
Oct 23, 2001
38,029
7,549
They're both bad decisions if you can't afford the depreciation. The lease makes the depreciation explicit whereas the long term loan hides it until trade-in time.

Solution: Don't buy more than one can afford. Don't trade in upside down cars and bake in negative equity to the next loan. GET OFF THE TREADMILL.
 

jimmydean

The Official Meat of Ridemonkey
Sep 10, 2001
40,931
13,129
Portland, OR
I know a lot of people that make piss poor vehicle purchase decisions. The wifes 2013 CRV is one of the newest thing I've ever bought. I talked her out of the $199 lease and bought a lease return with extended warranty for about $10k off MSRP of new (not a great deal, but still bellow kbb retail for the year). Our payment is more than $199 and we couldn't get 0% because != new, but still got a great rate and good terms.
 

CBJ

year old fart
Mar 19, 2002
12,860
4,154
Copenhagen, Denmark
My plan to move to Denmark fits in with this. Cash in on the apartment in NYC buy house in Denmark hopefully with rental income if possible. Free healthcare, school and university and much better work life balance than NYC including more vacation, short work week and shorter commute to work. Hopefully also a good career boost with option to be partner or at least position myself more in the direction I am looking for. Only thing that sucks is my wife finally is getting the promotion she has worked hard for but hopefully she can translate that into a good job in Denmark too.
 

dan-o

Turbo Monkey
Jun 30, 2004
6,499
2,805
Only thing that sucks is my wife finally is getting the promotion she has worked hard for.
Knock her up again, that will take the sting off stalling the career.

:twitch:
The thought of another kid at this point just made me physically ill.
 

CBJ

year old fart
Mar 19, 2002
12,860
4,154
Copenhagen, Denmark
More kids that will be with the next wife which is not happening way to expensive with more kids and a second wife. By brother went down that route but his first wife did turn lesbian after the divorce so I guess there was not a choice :)

The ironic thing is the same happened when we moved to the US in 2003. She had a great job with Pfizer.
 

jimmydean

The Official Meat of Ridemonkey
Sep 10, 2001
40,931
13,129
Portland, OR
:twitch:
The thought of another kid at this point just made me physically ill.
I have a few friends that fathered a child in the last year or two (at the age of 45ish). At this stage in life, the idea of starting over with another 18+ year sentence would send me over the edge.
 

Serial Midget

Al Bundy
Jun 25, 2002
13,053
1,896
Fort of Rio Grande
Game on, over / under as to how long I can make it last? The first time lasted 5 years and I did not generate income. I have thought about real estate or selling insurance but those both seem like real jobs and not the self directed path I want. I have considered porn but my body type is not in demand.
 

SkaredShtles

Michael Bolton
Sep 21, 2003
65,375
12,529
In a van.... down by the river
Game on, over / under as to how long I can make it last? The first time lasted 5 years and I did not generate income. I have thought about real estate or selling insurance but those both seem like real jobs and not the self directed path I want. I have considered porn but my body type is not in demand.
Slum-lord. It's how all the semi-ballers do it. Either that or a coin-op car wash.