Kansas Crimson

DrPepper wrote: ↑Wed Dec 19, 2018 10:52 pm My bad math. That should be $500 plus interest and full insurance for X years. I sure hope you didn’t do one of those six year loans.

Pepper gets it.

GAP-100%+ gross profit margin.
Extended warranty-100%+ GPM
Magic Pixie dust- 100%+ GPM
4-5 point spread on buy vs sell rate.

Car dealers can damn near sell a car at cost and still make a ton of money.

DCHawk1 wrote: ↑Wed Dec 19, 2018 10:47 pm If more people thought/behaved like Dr. Pepper, we'd all be far better prepared for the next downturn.

Bring debt free and having cash during a downturn is fantastic. People start selling their toys (campers, cabins, boats, motorcycles, etc) for cheap.

DCHawk1 wrote: ↑Wed Dec 19, 2018 10:47 pm If more people thought/behaved like Dr. Pepper, we'd all be far better prepared for the next downturn.

Gotta be liquid, gotta be as close to debt free as possible.

And don't finance a depreciating asset for any longer than absolutely necessary. And be sure, at any point, you can sell for what you owe at a minimum.

jeepinjayhawk wrote: ↑Wed Dec 19, 2018 11:01 pm

DrPepper wrote: ↑Wed Dec 19, 2018 10:57 pm

DCHawk1 wrote: ↑Wed Dec 19, 2018 10:47 pm If more people thought/behaved like Dr. Pepper, we'd all be far better prepared for the next downturn.

Bring debt free and having cash during a downturn is fantastic. People start selling their toys (campers, cabins, boats, motorcycles, etc) for cheap.

Gotta be liquid, gotta be as close to debt free as possible.

And don't finance a depreciating asset for any longer than absolutely necessary. And be sure, at any point, you can sell for what you owe at a minimum.

That(s)!

^^^

Posts of the week.

And, it's not only "toys" that go on sale during a downturn, houses and stocks plunge and can be bought at fire-sale prices, too. People who had cash and bought into the market at the height of the financial crises had the opportunity to realize incredible profits. Though certainly not easy, (and especially with children), delaying gratification and living within your means can pay immense dividends.

during the great recession my dad bought lakefront property in Michigan on foreclosure for like $6 grand.

it's pretty cool and all, except that the trade-off is, now he's in fucking Michigan.

I know a real estate mogul who hangs out on a different board who bought the first of his dozens of Colorado properties out of foreclosure back in the day...

DrPepper wrote: ↑Wed Dec 19, 2018 9:52 am

Hydrohawk wrote: ↑Sun Dec 16, 2018 4:38 pm Sorry I am late to the party on this one. I'm happy to answer any questions I can help with here or feel free to pm me.

Hydro, I’ll be in KS next week. Where are you? I’m looking for a Honda Element, EX, AWD or 4WD, automatic, not a rust bucket.

Dp send me pm and I can give you my contact info. I'm going to be out of town Sat-thurs but can access everything I need remotely. Even if you are already looking at a car somewhere else I am happy to check it out for you or give you tips on getting the best value.
If you haven't settled with insurance already I might be able to help you with your totaled vehicle. Insurance always low balls you but if it's below reasonable replacement value it's easy to prove and then get a fair offer

Also FWIW, there is a time and place where GAP insurance makes sense . Depends on the situation but with out a large down payment its increasingly difficult to remain in an equity position financing a car. Vehicles are depreciating at a highly increased rate. In the last 3 years depreciation rates have really accelerated.
Good news for car buyers is that the depreciation rate is also helping keep up front prices down some. Not enough to keep up with loss of value over time but it has kept the market much more competitively priced.
Like any insurance, it all depends on the carrier/company backing it. If you need GAP you need to also make sure it is from a company that will actually cover a claim

I need a good used SUV. CR-V is too small and doesnt work for what we need. Needs to be all wherl drive or 4wd capable. Preferably a 7 seater. Reliable, decent interior. I dont care too much about fancy screens or media capabilities etc. Would like to be under 30k. Is that even possible?

Under 30k $s or miles?

Certainly possible. We got Audi Q5 SUV with 40-something thousand miles at 29k ($). Q7 shouldn't be too much more if it has, say, 50000 miles

Mjl wrote: ↑Tue Jan 01, 2019 3:22 pm Under 30k $s or miles?

Certainly possible. We got Audi Q5 SUV with 40-something thousand miles at 29k ($). Q7 shouldn't be too much more if it has, say, 50000 miles

Q5 is a pretty damn nice car.
My best friend has an SQ5....badass SUV

Hadnt considered an Audi. Figured they were above my 30k Priceline. Maybe i should look at them. Even the domestics are damn pricey anymore

jeepinjayhawk wrote: ↑Tue Jan 01, 2019 5:27 pm

Mjl wrote: ↑Tue Jan 01, 2019 3:22 pm Under 30k $s or miles?

Certainly possible. We got Audi Q5 SUV with 40-something thousand miles at 29k ($). Q7 shouldn't be too much more if it has, say, 50000 miles

Q5 is a pretty damn nice car.
My best friend has an SQ5....badass SUV

Yeah, the Audi S cars are fun. I got an S4 (used of course) last year. Pop it into sport mode and it's a blast.

I have owned numerous Audis.
My favorite:
Toss up between modded 04 S4 and 2013 TT-RS.

My experience with audi drivers are they don't know how to drive and they're assholes. I'd steer clear.

Maybe that's only true on the east coast.

Haha. Ive noticed that as well on the west coast. Same with bmw and mercedes drivers. And those dumb rice rocket hondas. Those dudes are are awful awful drivers.

But i have heard good things about audis other than maintenace is expensive as fuck

TDub wrote: ↑Tue Jan 01, 2019 7:23 pm Haha. Ive noticed that as well on the west coast. Same with bmw and mercedes drivers. And those dumb rice rocket hondas. Those dudes are are awful awful drivers.

But i have heard good things about audis other than maintenace is expensive as fuck

Cost of admission.

PhDhawk wrote: ↑Tue Jan 01, 2019 7:17 pm My experience with audi drivers are they don't know how to drive and they're assholes. I'd steer clear.

Maybe that's only true on the east coast.

Most Audi owners do not understand
the performance oddities of the Quattro system.

It is a 100% AWD system. Which leads to understeer.

PhDhawk wrote: ↑Tue Jan 01, 2019 7:17 pm My experience with audi drivers are they don't know how to drive and they're assholes. I'd steer clear.

Maybe that's only true on the east coast.

I have not noticed the driving part. I have noticed that with Mercedes drivers.

I am an asshole and an Audi driver, so that part fits. Wife is a non-asshole Audi driver tho.

My gf has an Audi Q3, probably the size of a CRV. Nice, tight SUV. I have an A4, which is a sedan. I'm a big Audi fan, have owned several and I can at be an asshole driver, but usually only when other idiots can't drive in a little rain .