Recruiting Forum Off Topic Thread III

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#9,151
#9,151
Hey guys and gals, going to be in Nashville this weekend and wanted some recommendations on things to do for me, the wife and two boys (10 and 14). I also need to know the best place to catch basketball game on Sunday. I would prefer it to be downtown since that’s where we are staying. Thanks in advance.
 
#9,153
#9,153
TennVOLS93 said:
Dealers have you by the balls. Generally lose all your rebates in exchange for 0%. Banks and CUs are over 4% now.
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Pay cash then pay yourself back. You will find someone who will take what you offer. I got a 25% discount on a used car because I brought cash to the sale. Only way I will ever buy a car from now on.
 
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#9,154
#9,154
kmkemp11 said:
Frankly, if you have good credit, you can usually get 0-2.9% APR ranges, so you'd be crazy to pay cash.
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Cash is king. Crazy is always depending on someone else to give you money for something you want. That's why so many people file bankruptcy when something happens in their life.

I hope to eventually get to the point that the banks don't even know who I am. Had an uncle that had one loan ever $5000 on a house he lived in until he passed. He always paid in cash. Took his kid to help her buy a house and they ran his credit and he couldn't get a loan with his bank for $75000 because he had no credit score. They told him to get a credit card to improve his credit. He had over $400k in the bank at the time.
 
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#9,155
#9,155
itsme said:
Cash is king. Crazy is always depending on someone else to give you money for something you want. That's why so many people file bankruptcy when something happens in their life.

I hope to eventually get to the point that the banks don't even know who I am. Had an uncle that had one loan ever $5000 on a house he lived in until he passed. He always paid in cash. Took his kid to help her buy a house and they ran his credit and he couldn't get a loan with his bank for $75000 because he had no credit score. They told him to get a credit card to improve his credit. He had over $400k in the bank at the time.
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kemp is saying it makes more sense to use cheap credit than use your cash that could be earning 4-10% elsewhere. Like paying down a house early at 3% tax deductible...makes no sense.

Not borrowing just to borrow what you don't have, but rather borrowing what you do have for financial gain.
 
#9,156
#9,156
itsme said:
Cash is king. Crazy is always depending on someone else to give you money for something you want. That's why so many people file bankruptcy when something happens in their life.

I hope to eventually get to the point that the banks don't even know who I am. Had an uncle that had one loan ever $5000 on a house he lived in until he passed. He always paid in cash. Took his kid to help her buy a house and they ran his credit and he couldn't get a loan with his bank for $75000 because he had no credit score. They told him to get a credit card to improve his credit. He had over $400k in the bank at the time.
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This is true 95% of the time, especially private party sales. Dealers get so many incentives for financing, that most aren't willing to haggle anymore unless you are financing. They can make more money over the term vs. you paying cash. I've worked in lending for a while. For example, dealers typically get a 2% kick back through indirect lending. If you finance at the dealer through someone in their network, they will get an additional $600 upfront from the lender on a $30,000 car. Toyota incentives it's dealers to get customers to finance through Toyota Credit by offering the dealer quarterly bonuses.
 
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#9,157
#9,157
TennVOLS93 said:
This is true 95% of the time, especially private party sales. Dealers get so many incentives for financing, that most aren't willing to haggle anymore unless you are financing. They can make more money over the term vs. you paying cash. I've worked in lending for a while. For example, dealers typically get a 2% kick back through indirect lending. If you finance at the dealer through someone in their network, they will get an additional $600 upfront from the lender on a $30,000 car. Toyota incentives it's dealers to get customers to finance through Toyota Credit by offering the dealer quarterly bonuses.
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The money guys like Dave Ramsey and Clark Howard say never by a new car to begin with. As soon as you leave the parking lot it depreciates 2-3000$. A 2 year old car is what they generally recommend. Then keep it till it falls apart. I had a Saturn bought used in 2000. Was a 1996 model. Got rid of it in 2017. It still ran too. 15 years no car payments 😁
 
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#9,159
#9,159
T Dog said:
The money guys like Dave Ramsey and Clark Howard say never by a new car to begin with. As soon as you leave the parking lot it depreciates 2-3000$. A 2 year old car is what they generally recommend. Then keep it till it falls apart. I had a Saturn bought used in 2000. Was a 1996 model. Got rid of it in 2017. It still ran too. 15 years no car payments 😁
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I would go that route if it made sense. Nowadays dealerships put new car money on a 2-3 year old vehicle
 
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#9,163
#9,163
Rishvol said:
I would go that route if it made sense. Nowadays dealerships put new car money on a 2-3 year old vehicle
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When I bought my wife's car (pre illness obviously) the previous year's model -same car, cost more than the new model.
All the incentives

But the lease vehicles are a good idea. They make so much off of the original lease, leaves plenty of room for deals.
Outside of Knoxville obviously.
 
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#9,164
#9,164
T Dog said:
The money guys like Dave Ramsey and Clark Howard say never by a new car to begin with. As soon as you leave the parking lot it depreciates 2-3000$. A 2 year old car is what they generally recommend. Then keep it till it falls apart. I had a Saturn bought used in 2000. Was a 1996 model. Got rid of it in 2017. It still ran too. 15 years no car payments 😁
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Agreed, I would never buy new. Get one either 15,000 miles and save 10k
 
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#9,167
#9,167
T Dog said:
The money guys like Dave Ramsey and Clark Howard say never by a new car to begin with. As soon as you leave the parking lot it depreciates 2-3000$. A 2 year old car is what they generally recommend. Then keep it till it falls apart. I had a Saturn bought used in 2000. Was a 1996 model. Got rid of it in 2017. It still ran too. 15 years no car payments 😁
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No doubt. I once calculated my annual cost of ownership (after reading the American average was 7-9k!!) and realized it was only about $1,500, gas and all. I've also hit the "golden mean" on my Avalon, wherein it is still extremely reliable, but the depreciation rate is nearing dead zero. I get an odd amount of enjoyment from little things like this.
 
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#9,168
#9,168
T Dog said:
I know what you saying, but saved a ton instead of trying to keep up with my rich friends. Like one just got a brand new platinum F250. I just ride with them if we go out of town. I know I'm a cheap bastage. 😁
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As a woman once told me at the bank (who made 35k a year, had $0 to her name, and was buying a $15k BMW with 130k miles) - "I got an image in my neighborhood to maintain!". We got a good laugh from that one for awhile. We all knew a loan to repair our collateral was just around the corner. It was like clockwork with those BMW wannabe folks. As the saying goes, "many people can afford to purchase BMW, but not many can afford to keep one".
 
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#9,170
#9,170
Devo182 said:
Not a truck dude, but that's pretty sweet right there.
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Plan was to take a stock tundra and turn it into that. That's about $5,000 worth of mods, though. Would be nice to have one already done. That is 100% the mods I was wanting too. I doubt it'll work out. He's 5k too high.
 
#9,172
#9,172
TennVOLS93 said:
Plan was to take a stock tundra and turn it into that. That's about $5,000 worth of mods, though. Would be nice to have one already done. That is 100% the mods I was wanting too. I doubt it'll work out. He's 5k too high.
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Negotiation brah
 
#9,175
#9,175
T Dog said:
The money guys like Dave Ramsey and Clark Howard say never by a new car to begin with. As soon as you leave the parking lot it depreciates 2-3000$. A 2 year old car is what they generally recommend. Then keep it till it falls apart. I had a Saturn bought used in 2000. Was a 1996 model. Got rid of it in 2017. It still ran too. 15 years no car payments 😁
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I bought a 1996 Honda Accord and drove it for 12 years. It was a junker and I thought it would last about 4 years. 12 years and 200k miles later she gave up the ghost. I paid $1000 for it. Best car I've ever owned. I'm not really one to care about top notch vehicles though. To me buying a new car is one of the worst investments you can make.
 
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