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Old 04-17-2015, 12:28 AM   #71
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We set ourselves up well before I retired from the military. Now I have my military retirement check, a VA stipend that doubles it, and a solid job on top of that. I also have a TSP and a 457 plan. On top of all this, my wife has a Masters in Nursing and is now a Division Director in her field and almost doubles everything I bring home. Yep, she's the bread winner, heh.


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Old 04-17-2015, 07:34 AM   #72
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welfare money is peasant money.. lol I'm really hoping you were being sarcastic
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Old 04-17-2015, 09:50 AM   #73
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I had my daughter a few weeks after I turned 22. I waited until she was 18 and out of the house before I got the Mustang I wanted.
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Old 04-17-2015, 10:03 AM   #74
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Mustang is a toy, not a necessity, toy have to be bought with spare money, not your food money, keep studying, and start thinking about a business, it will pay you a lot more in the long run than almost any job you can get.

Keep your current car and enjoy it, your business will pay for that 5.0 you want and maybe even a gt350r
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Old 04-17-2015, 10:55 AM   #75
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Finish school and get your degree and then worry about a 5.0. Also follow some of the advice here and start saving for retirement when you are young so that later in life you can do what you want.

I have a criminal Justice degree and have a Federal law enforcement job where I can retire at age 49 with a pension and my TSP. I can only work until I'm 57 before I'm forced to retire.

I bought my first new vehicle at age 26. My next one at age 31, and my Mustang at age 46. I'm divorced and pay a significant amount of child support but was able to pay my house off at age 46 and allowed me to buy my Mustang.

Plan for your future first and things will fall into place.

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Old 04-17-2015, 11:27 AM   #76
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I never got a degree or the ridiculous college loans and debt that go with it. The last year on my job, I made $73k without overtime.
I would do the same again if I was 18 today. I would find a trade or technical career that requires special training but not a degree. Getting a foot in the door young and a place that's willing to invest in training and schools as the years go by.
There are also NBA athletes with no degrees who make millions of $ a year and people with PhD's who are unemployed. However, you're picking specific cases like yourself who make above average on the spectrum of people with no degrees. Specific cased don't build arguments.

The statistics I quoted early don't lie. ON AVERAGE, (nationwide millions of people) people with degrees make $20k+ more per year. What that tells me, is you're probably above average in your intelligence and/or drive. Imagine if you had a degrees also, you might have made $100k+/year.

But if you want to quote specific examples, my wife & I both make twice what you make WITH our degrees, so that's 4x's your income for our household.

P.S. Some people are lucky and have parents willing to keep supporting them while in school vs. not supporting them if they're working & not in school. (possibly little to no student loans)

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I never went to college either, made 145k last year. People think you need a degree for everything. Like waylap 1 said finding a good trade that trains and invests in you is a good option too, not saying it's easy, and I'm sure a degree helps a lot too.
You are more of an exception to the rule. If you look at the higher end of the spectrum for people with just college degrees (not getting in to MBA's, PhD's, MD's, etc.) For example, there are some successful people with finance degrees that make $200k, $300k, $400k, $500k, etc. per year. I know a couple who both have finance degrees, and are VERY successful in their fields.... they're looking at buying a $4 million dollar house right now in their 30's. He also came from money so he had some starter money too.

Not trying to knock people with out degrees. I'm just saying for 18-20 year olds out there today, they SHOULD get a degree it will affect their long term success.

If you're a 60+- something year old chiming in, your job market experiences 40+ years ago are different in what was expected of you. You were EXPECTED to have a high school diploma. NOW-a-days, for all of the good jobs you are expected to have a college degree.
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Old 04-17-2015, 12:37 PM   #77
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Finish school and get your degree and then worry about a 5.0.
It was a lot easier to buy a new car earlier, 30 years ago. My first new car, 86 Capri 5.0 with every option except cruise, was $12,800 (bought in 3rd year of college). Since then, salaries have maybe doubled, but cars have tripled and many times quadrupled in price (for new stang with almost every option). Better off to wait, cars are just too much money (and more importantly, depreciate much faster these days), compared to salaries.
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Old 04-17-2015, 02:09 PM   #78
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^ that's why I'll never buy a new car, let someone else take the hit on depreciation...


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Old 04-17-2015, 02:34 PM   #79
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^ that's why I'll never buy a new car, let someone else take the hit on depreciation...
Buying 1-3 year old cars with low miles can be great deals. I like to do that too OR if you buy at the right time you can really get a "cheap" car.

For example, if you buy around August/Sept. when the rebates are really high and the prices are low on model year close outs, you can often get a phenomenal deal.

The past few cars I've bought I've bought for cheaper than I could find a used car, b/c I bought them below invoice price + huge rebates.
Ex:
2012 F150 FX2 below invoice + $5k rebate
2014 Mustang GT Prem. Conv. below invoice + $4k rebate
2015 Acadia Denali below invoice + $2.4k rebate (end of year/Dec. instead of model year close out in fall, like other 2)
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Old 04-17-2015, 03:15 PM   #80
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Well the newest car I own is my Roush which when I bought it, it had 27K miles and 6 years old for half what it was new...


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Old 04-17-2015, 04:04 PM   #81
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You paid for mine.
2nd deployment- 2012 GT
3rd deployment - 7k mile C5 z06.
Pay cash for cars, or don't buy them. If you finance they can cost nearly twice as much over the long run. They are enough of a money pit as is.
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Old 04-17-2015, 04:11 PM   #82
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You paid for mine.
2nd deployment- 2012 GT
3rd deployment - 7k mile C5 z06.
Pay cash for cars, or don't buy them. If you finance they can cost nearly twice as much over the long run. They are enough of a money pit as is.

You have to know how to finance them right. Do it right and it isn't that much more. Financing a car doesn't instantly mean it'll be an extreme amount more.


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Old 04-17-2015, 04:36 PM   #83
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Twice as much? Where is that absurd number coming from lol. I'm paying an extra 2k over 5 years from interest. Not too bad at all.
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Old 04-17-2015, 04:45 PM   #84
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Affording your gt

^ that's good. My interest isn't too bad, but then again I'm already in my 3rd year of payment schedule, and it's only been 17 months since I bought it...


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Old 04-17-2015, 04:46 PM   #85
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^ that's good. My interest isn't too bad, but then again I'm already in my 3rd year of payment schedule, and it's only been 17 months since I bought it...


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Yeah I pay as much extra as I can so that number should be less over the long run
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Old 04-17-2015, 04:49 PM   #86
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Did you use a car loan or something else?


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Old 04-17-2015, 05:03 PM   #87
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Did you use a car loan or something else?


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I have a 5 year loan through a credit union
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Old 04-17-2015, 05:41 PM   #88
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Twice as much? Where is that absurd number coming from lol. I'm paying an extra 2k over 5 years from interest. Not too bad at all.
Congrats on having amazing credit. Not everybody has stellar credit.
My buddy's girlfriend bought a car at 15% interest over 7 years. Weak credit a few years ago. When he figured in interest and higher insurance cost required by the loan, a 20K$ car ended up costing her something in the 36K range.
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Old 04-17-2015, 05:43 PM   #89
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Affording your gt

15?!?!
That's ridiculous, mines 1.9% on 5 years, how the hell is it that high?


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Old 04-17-2015, 05:47 PM   #90
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Congrats on having amazing credit. Not everybody has stellar credit.
My buddy's girlfriend bought a car at 15% interest over 7 years. Weak credit a few years ago. When he figured in interest and higher insurance cost required by the loan, a 20K$ car ended up costing her something in the 36K range.
This is my first loan and I am 20 years old. My credit is not that good but I was patient and got a 4.5 percent rate,
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Old 04-17-2015, 05:48 PM   #91
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Affording your gt

Geez. I am only 20 in college but can get a better rate than that. With a co signer I'm sure I can get under 2%


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Old 04-17-2015, 05:52 PM   #92
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Geez. I am only 20 in college but can get a better rate than that. With a co signer I'm sure I can get under 2%


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If my dad would have consigned I would have been at 1.9 I believe.
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Old 04-17-2015, 05:54 PM   #93
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If my dad would have consigned I would have been at 1.9 I believe.

That's the plan when I get another car. Would be crazy not to get a co signer.


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Old 04-17-2015, 05:57 PM   #94
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That's the plan when I get another car. Would be crazy not to get a co signer.


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If it would have been a bigger loan I would have for sure.
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Old 04-17-2015, 06:03 PM   #95
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If it would have been a bigger loan I would have for sure.

I had to, which I used a home equity loan (doing some work on my house at the time), and my bank was two weeks behind (happened when the government shut down a couple of years ago) in getting me the money. I nearly lost the car, but got .5% for the first year and then up to 1.9%, which I had to take a 25K+ loan to buy my car, so the interest rate is not too bad...


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Old 04-17-2015, 06:20 PM   #96
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Buying 1-3 year old cars with low miles can be great deals. I like to do that too OR if you buy at the right time you can really get a "cheap" car.

For example, if you buy around August/Sept. when the rebates are really high and the prices are low on model year close outs, you can often get a phenomenal deal.

The past few cars I've bought I've bought for cheaper than I could find a used car, b/c I bought them below invoice price + huge rebates.
Ex:
2012 F150 FX2 below invoice + $5k rebate
2014 Mustang GT Prem. Conv. below invoice + $4k rebate
2015 Acadia Denali below invoice + $2.4k rebate (end of year/Dec. instead of model year close out in fall, like other 2)
Same here. Saw lots of used base auto GT's for more than I paid new. That and I keep my cars piratically forever, so it is worth getting an unmolsted car.
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Old 04-17-2015, 08:57 PM   #97
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If everyone had a degree, who would: fix your water leak, find your electrical problem, build your house, work on your car, respond when you call 911, clean and repair your kids school, pick you up at the airport, deliver your mail, fight terrorists or answer the phones at AM?

For every $20k more a year I made, I spent it. The more keys to toys you have on your key ring, the more stress you have.
The trick is just to try to do something that doesn't feel like work to you. And buy a 5.0
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Old 04-17-2015, 09:13 PM   #98
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The trick is just to try to do something that doesn't feel like work to you.

Aka, your calling...


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Old 04-18-2015, 12:34 AM   #99
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got my pops to cosign and got 0% for 5 years. 14 gt 35 miles for 31k.
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Old 04-18-2015, 02:28 AM   #100
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You paid for mine.
2nd deployment- 2012 GT
3rd deployment - 7k mile C5 z06.
Pay cash for cars, or don't buy them. If you finance they can cost nearly twice as much over the long run. They are enough of a money pit as is.
I just bought my wife's Focus Titanium for over $8,000 off sticker and at 0%.
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Old 04-18-2015, 07:22 AM   #101
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I just bought my wife's Focus Titanium for over $8,000 off sticker and at 0%.

I took the rebates of 4500 over the 0%. A .9 interest rate is pretty good. I got my new 14 for less than the same dealership had one used 28k out the door for a sticker'd 34900 car. That's before tax and trade ins. I paid tax in cash, plus applied the trade in money on the car. My payment is almost in the 200's a month.
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Old 04-18-2015, 11:16 AM   #102
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I took the rebates of 4500 over the 0%. A .9 interest rate is pretty good. I got my new 14 for less than the same dealership had one used 28k out the door for a sticker'd 34900 car. That's before tax and trade ins. I paid tax in cash, plus applied the trade in money on the car. My payment is almost in the 200's a month.
So overall how much was ur downpayment? And is ur credit high? Im just looking for a good used manual one ha

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Old 04-18-2015, 11:22 AM   #103
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So overall how much was ur downpayment? And is ur credit high? Im just looking for a good used manual one ha

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Financed 24k

So paid the tax which was like 2500 and put the trade balance about 4k back in the car. So 6500 I suppose

And yeah I have very good credit. You can't get approved for 0% unless you have over a 720 I believe
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Old 04-18-2015, 09:11 PM   #104
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Im 23 been working fulltime plus overtime 60 hrs a week. In college also. I just bought my 14 5.0. I get paid 18hr

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Old 04-19-2015, 10:56 AM   #105
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Im 23 been working fulltime plus overtime 60 hrs a week. In college also. I just bought my 14 5.0. I get paid 18hr

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Working where??:0

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