Bankruptcy - anyone gone through it?

[Bugeater]

Originally Posted by R8ers

They can't eat you man, don't be scared, it's business and happens everyday.
Get away from debt, rent for a few yrs, act your wage, live well within your means and take care of the things you do buy.

Don't buy new cars, they depreciate 100 dollars a week for the first 4 yrs you own them on a 30k car

30k car
Payments 500 bucks a month
Depreciation 400 a month
Extra cost of the collision 100 per month at least

Shiny car costs you 1000 dollars a month to drive.

No you dumbshit, it does not cost you $1K/mo to drive that car, it just mean he's throwing the payment and insurance money into a hole.

[R8RFAN]

Originally Posted by Bugeater

No you dumbshit, it does not cost you $1K/mo to drive that car, it just mean he's throwing the payment and insurance money into a hole.

God you are dumb

[Bugeater]

Originally Posted by R8ers

God you are dumb

You're the dumb****. Explain to me when that other $500/mo comes out of your pocket.

[R8RFAN]

Originally Posted by Bugeater

You're the dumb****. Explain to me when that other $500/mo comes out of your pocket.

Your 30k car is losing 100 dollars per week value for the first 4 years you own it on average. plus the car payment

New cars will cost you more on collision insurance...

You don't understand that?

[Bugeater]

Originally Posted by R8ers

Your 30k car is losing 100 dollars per week value for the first 4 years you own it on average. plus the car payment

New cars will cost you more on collision insurance...

You don't understand that?

And all that means is the car is losing value as fast as you pay for it, which is true. Where you're losing me is when you say it costs an additional $500 each month, when does that money come out of your wallet?

[R8RFAN]

Originally Posted by Bugeater

And all that means is the car is losing value as fast as you pay for it, which is true. Where you're losing me is when you say it costs an additional $500 each month, when does that money come out of your wallet?

You buy a 30k car on credit, will probably cost you 40 by the time you get it paid off ,When you get it paid off you have spent 40 k
when you sell it after 4 years it will hopefully be worth 10k.

I didn't say you would totally lose 1000 per month but if you are making payments of 500 per month and your car is being devalued 400 per month and you are having to pay an extra 100 per month for the collision on it, that car is costing you 1000 per month.

It's all about cash flow

A car is something that is consumed or used up and everyday and every mile the car loses value. The less you pay and the more miles you get results in lower costs
Better scenario
Pay 10k for a good used car...Drive the hell out of it for 5 yrs, repeat