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A buddy of mine that has a good paying job and doesn't have student loans because he never went to college was telling me over the weekend he can't buy a house. I asked him why you make good money it shouldn't be an issue. He said you remember when I got my job, I went out got my truck I use to have and added kitted it out? Well turns out he is 45k in debt from that truck. I looked at him dumbfounded. I told him you have more debt in a truck you no longer own than I do for student loans. He said he is just going to keep paying it off until he has it low enough that a bank will loan him the money for a house. After he said that thought about how many of those trucks are out on the roads and how deeply in debt so many of those people have to be in. Cant imagine having more debt for a truck than student loans. BTW he has another truck currently and didn't even talk about that one.
Country folk complain about banks' shady farm loan practices yet show they never learned by buying stupid trucks. Lol to anyone with a stupid truck (or car) you can't afford
Even just stock pick-ups are insanely expensive, and they are everywhere. I recently got into a new car because after totaling my my SUV, and was looking at trucks, but could not justify the crazy high price for what you get. You can get a powerful European SUV for less than a domestic truck. I look around and see them everywhere and just think damn there's absolutely no way these people can all afford these trucks.
how is he 45k out on a truck he doesn't even own? If he sold it I would imagine he got some good money on it....especially in this market? If he totaled it wouldn't insurance give him some help? Unless he only had liability I suppose
MiIfHunterBuying a home is a privilege, not a right. Fuck u and ur entitled friend
You're terrible at trolling.
Profahoben_212how is he 45k out on a truck he doesn't even own? If he sold it I would imagine he got some good money on it....especially in this market? If he totaled it wouldn't insurance give him some help? Unless he only had liability I suppose
He added a whole bunch to it, and I think he traded it in while still having payments on it.
**This post was edited on Dec 13th 2021 at 2:26:25pm
i would offer to sell him my house but based on all the trolls that ruined my online internet profile, i have no seller credibility anymore. he probably wouldn't even look at my offer just because of you guys
"You took out 45k on a truck? Why do you even need a truck? What you need is transportation, not a truck that puts you 45k in debt. That's just bad math. Go buy yourself a $3,000 beater and don't step foot inside of a restaurant until you have paid this foolish loan off. Bad bad math."
Holy shit people are financially stupid sometimes. I don't think people necessarily should only buy what they can pay cash for, but if you are taking out a 45k loan (I'm assuming more) for a vehicle, you are spending above your means imo.
Well, think of it this way. If your buddy can get his debt cleared enough then he can buy a house in this overinflated housing market. With any luck he can get into the home with a nice adjustable rate mortgage with no down payment to take advantage of the current low interest rates. Have the home value go up quite a bit in the next 5 years, then he can simply do a cash out refinance and use the money to buy a brand new truck.
The top selling truck in the US is the Ford F-150. The lowest base price for that truck is $29,000. The median income in the US is $31,000. Most people in the US are dumb with there money
CLQThe top selling truck in the US is the Ford F-150. The lowest base price for that truck is $29,000. The median income in the US is $31,000. Most people in the US are dumb with there money
I guess, cars in general cost an insane amount of money today compared to the past. An l88 corvette used to cost a little over 40k in today’s money and they’re just as fast as most of today’s pony cars of comparable price
ShingangbangSo he sold the truck fir 45,000 dollars less than he owed on it?
This is what's not adding up to me. Like yeah op said that he put some aftermarket shit on. But selling for 45k less than he put in? How is that possible in this market
Profahoben_212This is what's not adding up to me. Like yeah op said that he put some aftermarket shit on. But selling for 45k less than he put in? How is that possible in this market
I going to guess its a combination of the mods which typically lower the resale value, and a high interest loan due to limited credit history and then falling behind on payments for said loan. Don't ever take out a loan in a vehicle people, if you absolutely must lease one, but don't take a high interest loan on a depreciating asset.
mystery3You literally just said "I lived in Savanah GA for 2+ years"
I don't understand.
Also I don't think auto loan debt is particular to one political party.
Yeah, when someone says where they live they usually say the closest city... i was 25 minutes from Savannah. Would you have rather me said fuckin HINESVILLE? LMAOO
glad we can agree on the trucks not belonging to just one political party at least
.frenchyYeah, when someone says where they live they usually say the closest city... i was 25 minutes from Savannah. Would you have rather me said fuckin HINESVILLE? LMAOO
glad we can agree on the trucks not belonging to just one political party at least
democrats drive trucks too but they don’t put a 6 inch rough country lift kit and $10000 rims along with a bunch of useless mods. Like cmon bro you think a biden supporter is running around driving this shit?
Jemsdemocrats drive trucks too but they don’t put a 6 inch rough country lift kit and $10000 rims along with a bunch of useless mods. Like cmon bro you think a biden supporter is running around driving this shit?
well obviously liberals dont drive trucks with american flags and thin blue line flags on them.... but i do
skiermanLiberals are smart enough to realize driving around with a flag on your truck will rip it to shreds.
NOTHING SAYS PATRIOTIC LIKE RIPPING AN AMERICAN FLAG TO PIECES BECAUSE YOU'RE COMPENSATING FOR A SMALL DICK, AMMI RIGHT?
I am a conservative and think running a flag off your truck is dumb as shit. I actually saw someone have a flag on their truck with stacks and running their diesel rich. The flag was literally black with soot and shredded. If you want to show your respect to the flag put it on a pole outside your house and light it at night or take it in.
SuspiciousFishI am a conservative and think running a flag off your truck is dumb as shit. I actually saw someone have a flag on their truck with stacks and running their diesel rich. The flag was literally black with soot and shredded. If you want to show your respect to the flag put it on a pole outside your house and light it at night or take it in.
YEAH I WILLINGLY RAPE MY INJECTORS AND FUEL ECONOMY JUST SO I CAN EMIT OBNOXIOUS AMOUNTS OF BLACK SMOKE CSUSE IM SO INSECURE
JemsYEAH I WILLINGLY RAPE MY INJECTORS AND FUEL ECONOMY JUST SO I CAN EMIT OBNOXIOUS AMOUNTS OF BLACK SMOKE CSUSE IM SO INSECURE
you do know tuning a diesel gets better fuel economy... right? And tuning a diesel doesn't rape your injectors. You sound like a typical democrat. talking about things you have no business talking about..
