Bankruptcy - anyone gone through it?

[Bugeater]

Originally Posted by R8ers

the money is coming out of your wallet when you wind up paying 40 for a car that costs 30 and you sell it for 10 if you are lucky in 4 years
That is if you put 15k or less miles per year on it....

I love to look on craigslist at the people who have cars with 180k on them trying to get half of what they gave for them

[Dayze]

My car will be paid for in 11 months; thank god. Or, depending on how all this stuff shakes out I might be about to just pay it off and use that payment for cashflow.
Haven’t made that call yet.

I’m done with buying ‘new’ cars. Even though I’ve never owned a ‘new’ one per se, they have been 17-20k ish. Screw that. when this one dies (hopefully a long time from now) I’ll spend 8k on a 2 yr old car with 20k miles on it. And drive it until it dies.

[Bugeater]

Originally Posted by Dayze

My car will be paid for in 11 months; thank god. Or, depending on how all this stuff shakes out I might be about to just pay it off and use that payment for cashflow.
Haven’t made that call yet.

I’m done with buying ‘new’ cars. Even though I’ve never owned a ‘new’ one per se, they have been 17-20k ish. Screw that. when this one dies (hopefully a long time from now) I’ll spend 8k on a 2 yr old car with 20k miles on it. And drive it until it dies.

Dude, find me a 2 yr old car with 20K on it for $8,000 and I'll take ten of them.

[R8RFAN]

Originally Posted by Bugeater

Dude, find me a 2 yr old car with 20K on it for $8,000 and I'll take ten of them.

2-4 year range
Kias are on craiglist everyday, they can be found
Suzuki Forenzas 2-4 yr olds

You can find em if you will settle for them, but if you think you are a Prince or have a woman that thinks she is a Princess, it gets difficult.

[Bugeater]

Originally Posted by R8ers

2-4 year range
Kias are on craiglist everyday, they can be found
Suzuki Forenzas 2-4 yr olds

You can find em if you will settle for them, but if you think you are a Prince or have a woman that thinks she is a Princess, it gets difficult.

Yes, and those cars likely will be a pile of shit well before they reach 100K. Just because it has a low initial cost doesn't necessarily mean it will be a good value over the long term.

[R8RFAN]

Originally Posted by Bugeater

Yes, and those cars likely will be a pile of shit well before they reach 100K. Just because it has a low initial cost doesn't necessarily mean it will be a good value over the long term.

you can't be choosey when you are broke... Drive less, save gas, save money... Broke people can't do what people with money can do without being more broke

[Dayze]

Originally Posted by Bugeater

Dude, find me a 2 yr old car with 20K on it for $8,000 and I'll take ten of them.

intiially when this process started, we thought about gettign a different vehicle, simple to get more cash in the door (yeah, we'd be starting over in a term, but we needed cash badly). we looked at a 2008 Focus with about 24k miles for 8500.

not an awesome car by any means etc..just saying that the type of car I'll be looking for when my car kicks the bucket etc.

[R8RFAN]

Originally Posted by Dayze

intiially when this process started, we thought about gettign a different vehicle, simple to get more cash in the door (yeah, we'd be starting over in a term, but we needed cash badly). we looked at a 2008 Focus with about 24k miles for 8500.

not an awesome car by any means etc..just saying that the type of car I'll be looking for when my car kicks the bucket etc.

SEE thats what I am talking about....

Most people think they are "too good" for that focus though and they are "entitled" to whatever they want because they get up and go to work everyday.

I remember when I was in credit card debt bad when I was younger, I made pretty good money too, that credit card collector called me and I said to her " Lady, do you know how much money I make"? Like I was ENTITLED to the charges I put on that card.

She said to me that doesn't matter because their are plenty of millionaires out there that can't pay their bills either, I felt like an idiot

[Dayze]

Originally Posted by R8ers

SEE thats what I am talking about....

Most people think they are "too good" for that focus though and they are "entitled" to whatever they want because they get up and go to work everyday.

Yep. And frankly, I don’t know why I ever ‘thought’ I wanted car X (Corvette, BMW, et al). I mean, when I think about it – I spend 45-hour each way in the car to and from work. Then on weekends, it’s errands etc. Sh*t…it aint like I would have time to ‘cruise’ or ‘be cool’ anyway – even if I wanted to (which I don’t) lol

I’m trying to tell my wife “What’s it matter what you drive? You’re only getting to and from work. As long as it’s reliable, and safe etc….why do you care what kind of car you drive to and from work”.

When I actually asked that….she couldn’t answer.

Now, I’m not saying people who have killer cars are dumb etc. Everything is relative. If they can afford it ( I mean, ‘really’ afford it; not cutting it close etc) then go for it. I’m just saying I’m not in the position (and probably never will be) etc.

So in a few years, I’ll be rollin’ in a Focus b*tches with straight up 15”s.

[R8RFAN]

Originally Posted by Dayze

My car will be paid for in 11 months; thank god. Or, depending on how all this stuff shakes out I might be about to just pay it off and use that payment for cashflow.
Haven’t made that call yet.

I’m done with buying ‘new’ cars. Even though I’ve never owned a ‘new’ one per se, they have been 17-20k ish. Screw that. when this one dies (hopefully a long time from now) I’ll spend 8k on a 2 yr old car with 20k miles on it. And drive it until it dies.

You have the right mentality there...

Save 3-6 months of living expenses then buy what you can afford in a car beyond that, if you only have 2000 dollars beyond that then guess what, you are going to have to drive a 2000 dollar car.

Don't give in and do not cut corners and DO NOT FINANCE no matter how much you like car A versus car B

Dave Ramsey says, Live like no one else today so you can live like no one else tomorrow

[Red Coater]

Sorry to hear about that. Only thing I can say is Be Strong and have Faith. Things will get better.

[Kerberos]

Originally Posted by Dayze

Bankruptcy - anyone gone through it?

Dayze

Don't be a leach on the taxpayers you loser[quote:KyleProBowler/]

J/K

I have had to do it when I first got married. My wife was preggers. We had her mortgage and mine and she moved in to my house. She quit her job to stay home with the baby for the first year of his life. There was NO way for us to pay for 2 mortgages AND pay the bills AND care for a baby. Something had to give so we talked to an lawyer and that is what he suggested.

I now have a credit score of well over 700 so don't let anyone tell you it hurts you for a long time. I'm still in active bankruptcy since it hasn't even been 6 years yet.

I wish to hell I wouldn't of had to do it but there was no other choice for us.

[Dayze]

I guess I would just look at the overall ‘cost’ of the vehicle once it dies.

If I paid 8k for it and drove it for say, 10 years and it died….
It would cost me less than if I financed a 25k car and drove it 10 yrs +.

I would have to probably drive the 25k car three times as long to justify the cost.

I know there is a lot more involved in ‘cost’ of owning a car etc…just using a general scenario.
That’s my $.02.

[R8RFAN]

Originally Posted by Dayze

I guess I would just look at the overall ‘cost’ of the vehicle once it dies.

If I paid 8k for it and drove it for say, 10 years and it died….
It would cost me less than if I financed a 25k car and drove it 10 yrs +.

I would have to probably drive the 25k car three times as long to justify the cost.

I know there is a lot more involved in ‘cost’ of owning a car etc…just using a general scenario.
That’s my $.02.

I have 3 cars (all paid for of course)
2002 Explorer with 32k or so miles
2005 Suzuki Forenza with 18k or miles

I have a 60 mile round trip to work a day
I drive a 1994 Mazda truck with 182k miles on it bought it when it had 140k on it and the only thing I have done to it besides changed the oil; is brakes and rotors... I paid 1000 dollars for the truck.

My wife drives the Zuki and I put the miles on the truck and drive the Explorer on the weekends

[R8RFAN]

Bottom line Dayze

When you become Debt free and the turk shows up where you work, you can go flip burgers at burger king and make enough money to keep the lights on and pay your taxes.I have zero pressure
Work was slow here earlier in the year... I was working 2-3 days a week, did I panic?
Nope, because when you don't have any bills except basically utilities, You don't have to make that much money.

I would rather it had been busy and I could have saved even more, but it wasn't there so I just took some stress free time off instead.