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HRoi

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The day of reckoning for ADM payers, flippers and upper middle class optimists is coming. Average interest rate on a used car loan in December was 12%, according to a source i read.

Someone like Omega can shrug off a six-figure hit and still be happy if he loves the car still. But someone like me (or a flipper) will be in pain city
 

ValidusLA

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The day of reckoning for ADM payers, flippers and upper middle class optimists is coming. Average interest rate on a used car loan in December was 12%, according to a source i read.

Someone like Omega can shrug off a six-figure hit and still be happy if he loves the car still. But someone like me (or a flipper) will be in pain city

Wild to think I bought my 540 almost exactly a year ago at 0.9%.
 

HRoi

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I know a fintech middle manager who’s on the GT4 RS list. He won’t tell me how much exact ADM he’s paying but the going rate is like $75-100k. Which means he’s going to be financing a $300k car at what, 5-6% to be optimistic? But more likely dipping into savings for the ADM because typically banks wont finance that part.

I have a good idea how much he makes, but ok, there’s a lot I don’t know about his personal situation, i shouldn’t judge, he doesn’t have any other expensive hobbies, blah blah blah….but it used to be that someone would never ever think about doing this even if they lived at home with no expenses etc
 
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brokencycle

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I know a fintech middle manager who’s on the GT4 RS list. He won’t tell me how much exact ADM he’s paying but the going rate is like $75-100k. Which means he’s going to be financing a $300k car at what, 5-6% to be optimistic? But more likely dipping into savings for the ADM because typically banks wont finance that part.

I have a good idea how much he makes, but ok, there’s a lot I don’t know about his personal situation, i shouldn’t judge, he doesn’t have any other expensive hobbies, blah blah blah….but it used to be that someone would never ever think about doing this even if they lived at home with no expenses etc
If you can't afford a $300k car, are you middle class or lower class?
 

HRoi

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Apparently you’re not even middle management
 

Fueco

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.
 

Fueco

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Imagine posting here as much you do and bit getting the inside joke.

Imagine being a moderator and picking fights with those who don’t like you

But yeah, cars… Anyone who would pay double for dealer markup is in a better class of loser.
 

Texasmade

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Imagine being a moderator and picking fights with those who don’t like you

But yeah, cars… Anyone who would pay double for dealer markup is in a better class of loser.
Except for the ppl who are so rich that it doesn't matter to them.
 

Fueco

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I see peak jealousy.

Nope. We could afford pretty much any car on the market. My point is that paying double for anything is douchey. I don’t care if it’s a mocha or a pair of hiking boots.

There’s a reason I’m happy driving a Toyota.

As a side note, I hate the classism in this forum. I grew up in a working class ‘hood. I learned last night that one of the guys I grew up with is a meth head living under a bridge. Only a few smart choices in my life kept me from that path.
 

brokencycle

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Imagine being a moderator and picking fights with those who don’t like you

But yeah, cars… Anyone who would pay double for dealer markup is in a better class of loser.

You're the one who regularly replies directly to something I've posted. You're also the one who, without provocation, make inappropriate comments about my family.
 

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