Average auto loan now over $30k
- Thread starter Goothrey
- Start date
dont lump all the midwest in with the mayonnaise sandwich crowd. Its cheaper to live in KC than Denver, but 60k for a house in unheard of, or something the city auctions off in one of "those" neighborhoods.
There's a bunch of houses for sale in small midwestern towns for that price or less. Of course they are going to be old and not super nice, but I'm sure you could actually find something halfway decent.
If I financed $30K at 0% and used the cash I otherwise would have used as a down payment to pay down debt at 7%, is that a good move?
You can buy houses under $60K in a lot of small Midwestern towns. It's going to be in a town smaller than 5K and it won't be a big house, or might need some work, but it definitely won't be a **** hole needing major renovations. A good buddy of mine paid about $52k for a 3 bedroom 2 bath house in Osage with a couple large living room areas. Unfinished basement and rougher garage, but it wasn't in bad shape at all.
Maybe 15% of the people with 4wd mothership pickups actually need something that big.
Just yesterday i saw a pickup with cargo in it's bed! :shocked:
You're good since Iowa is the epicenter of Buick ownership in the known universe of cars. I swear there are more Buicks per capita than anywhere else.
And more good news for you, the average age of Buick buyers has dropped to 57, from 64 five years ago!
I take trips to Yosemite and places close by that are at elevation and get snow. Plus we're thinking about relocating soon....plus this is ******* America, I'm an Iowan and it's my birthright
So, it's communism/socialism to control what people are allowed to buy, but totally acceptable to ostracize them when they buy something you wouldn't? Can someone explain to me what business it is of mine how much someone else spends on a car (or anything else for that matter)?
It's the internet, damnit. It's everyone's right to be a judgmental asshat.
I will never understand the mocking of people that have their finances so finely tuned that they don't have to pay unnecessary interest on things they can afford to pay with cash because they have the money on hand to do so. That being said, I also am not one of those people. We just leased a vehicle several months ago (we have specific reasons for leasing a vehicle this time around instead of buying one) and we're getting ready to buy a house with a 30-year mortgage. Dave Ramsey would frown - then again, Dave Ramsey isn't living my family's life.
I would get 4WD for sure in SoCal. I could get by there with 2WD, but it would be nice to have it so you can go ski without putting on chains, and get to some better spots in the parks just a few hours away.
With a pulse on what people are driving in different parts of the country, here and in Iowa 400+ horse power trucks for scooting around town have starting prices up in the 50Ks. Out east and in California trucks are yet to be king and expensive SUVs and cars are the rule.
