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@Turbobuick wrote:Ignore the car critics and enjoy your new ride.
+1
@Turbobuick wrote:Ignore the car critics and enjoy your new ride.
I agree. Enjoy yourself, you're only young once!!!
Cobbson
To answer your question, it's unlikely your limits will get affected by the car loan.
I agree it is too expensive of a car for you right now but I made the same mistake when I was younger and didn't care what others thought. Of course I also later claimed BK in my 20s. Enjioy the ride but don't upgrade to a more expensive car in a couple of years when you make more money.
All you haters should be ashamed of yourself. The OP bought a nice ride that he/she is proud of and all you can do is talk smack about his/her financial choice.
Well, here's a news flash - I'm pretty sure the OP has a mom and dad already so why don't you all save your life lessons for your own kids? If you don't have anything to tell the OP about how this purchase will affect their credit score/credit cards then why don't you mind your own business?
I see a lot of people on this site lately that take joy in turning what could be a good thing and turn it into a negative. Just because some of you here have higher credit limits or better paying jobs, it doesn't give you the right to put OP down in reference to his/her finacial choices. It's obvious that some of you haters have over inflated egos and no manners.
@keithB wrote:All you haters should be ashamed of yourself. The OP bought a nice ride that he/she is proud of and all you can do is talk smack about his/her financial choice.
Well, here's a news flash - I'm pretty sure the OP has a mom and dad already so why don't you all save your life lessons for your own kids? If you don't have anything to tell the OP about how this purchase will affect their credit score/credit cards then why don't you mind your own business?
I see a lot of people on this site lately that take joy in turning what could be a good thing and turn it into a negative. Just because some of you here have higher credit limits or better paying jobs, it doesn't give you the right to put OP down in reference to his/her finacial choices. It's obvious that some of you haters have over inflated egos and no manners.
Maybe because some of us have been down that same road? I'm sure a lot of the replies could have been phrased differently and more helpful - including mine - but honestly financing a car that is more than your annual income - especially while you still have a nice amount of revolving debt - is never a good scenario.
@nachoslibres wrote:
@keithB wrote:
Maybe because some of us have been down that same road? I'm sure a lot of the replies could have been phrased differently and more helpful - including mine - but honestly financing a car that is more than your annual income - especially while you still have a nice amount of revolving debt - is never a good scenario.
+1
I make $80k... and would never buy a $100k car. Not a wise choice. BTW, I don't pay rent either. I have a 3BR condo for $1500 mo and I charge my 2 roommates $750 each to cover the rent leaving me with just the utilities. Still wouldn't buy a $100k car.
Oh... my comment wasn't hating the purchase. I was just pointing out that if I were to spend $20k I'd choose the sporty car over the SUV... which I did.
No hate was intended in my comment either.
I'm an old guy and I hate seeing young people getting into debt trouble. 1M+ people a year claim BK, many of them younger than 30.
If I can get a few of them to listen to my experience, then my posts are worth it.
@linux007969 wrote:My main question was basically will my limits get slashed since the existing creditors will see me with a substantial amount of a new credit account of sorts???
Difficult to say but probably not is my guess. Installments are considered differently than revolving accounts.
@barbaralee wrote:I, personally, would not pay 20K for a 4 year old SUV. For that price you could have bought a much more efficient, car brand new. I doubt anyone who has car buying/selling experience would say this is a wise purchase...
Depends on more than just the price, age and type of vehicle. I paid $27K for a 4 year old crossover two years ago but it was valued at much more than what I paid and was in excellent condition with extremely low miles. Yes, I could have purchased a more fuel efficient vehicle but that wasn't my priority for that vehicle purchase. Don't just assume that your priorities are universal regardless of topic.
That said, the pricing guides do seem to put the 2010 Escape at $14K to $26K depending on trim, mileage, options, condition, etc.
@keithB wrote:All you haters should be ashamed of yourself. The OP bought a nice ride that he/she is proud of and all you can do is talk smack about his/her financial choice.
Well, here's a news flash - I'm pretty sure the OP has a mom and dad already so why don't you all save your life lessons for your own kids? If you don't have anything to tell the OP about how this purchase will affect their credit score/credit cards then why don't you mind your own business?
I see a lot of people on this site lately that take joy in turning what could be a good thing and turn it into a negative. Just because some of you here have higher credit limits or better paying jobs, it doesn't give you the right to put OP down in reference to his/her finacial choices. It's obvious that some of you haters have over inflated egos and no manners.
Thanks for having my back! I appreciate it!
As to the other comments, I use quicken to very carefully keep things balanced so as long as i keep doing the same things and dont overspend every year then things will be fine, so yes some of you can mind your own business please.
All i was asking was if my limits would be slashed, it looks like i have some answers to that question, Thanks to those who answered and did not make any rude remarks by doing so.
I think everyones been down that road before. Some lessons in life you have to learn on your own. If we were all perfect then we would all have 850 FICOs and all make $10M a year.
First off, $20K for a car isn't that much anymore. There are probably less then 10 new cars on the market that cost less then $20K. Now I'm sure everyone will point out to me that its a used car - I know this.
But maybe OP has a plan... Maybe now that OP has a nice reliable ride he/she can either commute to get another job that pays more or pick up a part time job or maybe just more shifts at the current job. We don't know OP's situation.
When OP gets the bills every month in the tune of $400-500, I'm sure OP will figure something out. OP is young and on this site to try to make a difference in his or her life - how many of us can say we were interested in being financially stable when we were that young? OP is on the right track. Let him/her enjoy the fruits of his/her labor and give OP a little benefit of the doubt that he/she will do just fine.
Rant over. Enjoy the ride OP and be proud of what you have accomplished. And I apologize to the people I deemed "haters" because maybe everyone is just trying to help. But like I say, some lessons we have to learn for ourselves =P Let's let him/her enjoy this moment and show support, not listen to us lecture.
@nachoslibres wrote:
@keithB wrote:All you haters should be ashamed of yourself. The OP bought a nice ride that he/she is proud of and all you can do is talk smack about his/her financial choice.
Well, here's a news flash - I'm pretty sure the OP has a mom and dad already so why don't you all save your life lessons for your own kids? If you don't have anything to tell the OP about how this purchase will affect their credit score/credit cards then why don't you mind your own business?
I see a lot of people on this site lately that take joy in turning what could be a good thing and turn it into a negative. Just because some of you here have higher credit limits or better paying jobs, it doesn't give you the right to put OP down in reference to his/her finacial choices. It's obvious that some of you haters have over inflated egos and no manners.
Maybe because some of us have been down that same road? I'm sure a lot of the replies could have been phrased differently and more helpful - including mine - but honestly financing a car that is more than your annual income - especially while you still have a nice amount of revolving debt - is never a good scenario.
@nachoslibres wrote:
@keithB wrote:All you haters should be ashamed of yourself. The OP bought a nice ride that he/she is proud of and all you can do is talk smack about his/her financial choice.
Well, here's a news flash - I'm pretty sure the OP has a mom and dad already so why don't you all save your life lessons for your own kids? If you don't have anything to tell the OP about how this purchase will affect their credit score/credit cards then why don't you mind your own business?
I see a lot of people on this site lately that take joy in turning what could be a good thing and turn it into a negative. Just because some of you here have higher credit limits or better paying jobs, it doesn't give you the right to put OP down in reference to his/her finacial choices. It's obvious that some of you haters have over inflated egos and no manners.
Maybe because some of us have been down that same road? I'm sure a lot of the replies could have been phrased differently and more helpful - including mine - but honestly financing a car that is more than your annual income - especially while you still have a nice amount of revolving debt - is never a good scenario.