A Record 7 Million Americans Are 90 Days Behind on Their Auto Loan Payments

[ctm]

1 hour ago, HigherLogic said:

Not surprising, considering the record amount of subprime loans given out in the past few years. I wonder what the percentages look like. 

 

I can't speak on boats, but as a car dealer I can absolutely tell you that the women are definitely the ones buying the Jeeps, Corvettes, 4WD Tahoes, etc... they say something like in 80% of car buying situations, the female/wife has the final say so on whether or not to buy the vehicle. It's not like that in my house and I think that is a little on the high side, but it isn't too far off. I see it everyday.

 

I will keep doing my part to add on to that record, lol

 

 

My wife drives a lexus with 150K miles.  I've suggested for the past two years that we get her a new one.  We'd probably spend less than 25K on a replacement and could write a check for it.  She won't do it.

Edited February 15, 2019 by ctm

[ChemEngr79]

3 hours ago, ctm said:

My wife drives a lexus with 150K miles.  I've suggested for the past two years that we get her a new one.  We'd probably spend less than 25K on a replacement and could write a check for it.  She won't do it.

Similar here. Wife had a 12 year old Saab that we recently replaced with a 2.5 year old Cayenne for a little under half the new list price. We paid roughly half down and paid the rest off in under 5 months. Paying 3.9% interest was anathema to her...lol

 

She is actually more anal about saving than me, and I am very aggressive. She is from Seoul, so there is a cultural component to it for sure...

[abenjami]

I would imagine it’s a lot easier to save and pay cash for cars in places with lower costs of living. 

[Bink]

Reading this thread, it continues to make sense to me. Meanwhile, Amazon paid 0 dollars in federal tax on 11 billion in profits. 

[chef]

On 2/13/2019 at 5:02 PM, kgsTitan said:

100% correct. As George Carlin pointed out 30 years ago, Americans fell in love with spending money they don't have on shit they don't need. And then complain endlessly about not having more money to buy more shit. Then a huge house to store their shit.

 

Nothing opened my eyes more than staying a month with some family friends in Germany and seeing how different the German lifestyle is. 

They simply don't waste money, and the act of making a purchase isn't what makes them happy. Beer is.

 

It's no secret that shopping does for women what porn does for men. Yes, this is sexist, but women's obsession with keeping up with the Jones' is what drives most married couples into the poor house. Rich men love their toys, but they can afford them.

 

Lower middle and working class guys would live in a dump and be fine but you can't get or keep a woman that way, so off to debt hell they go.

 

On 2/13/2019 at 5:30 PM, Btowner said:

They don't waste money or food. I was on a US business trip with two German colleagues. At dinner, I'm picking at my food, not clearing my plate, drinking beer, getting bloated and then not finishing my meal. I'll admit, I was casually wasting food.

 

Those guys would clean their plate after every meal. After 3-4 days of noticing not just my wastefulness, but other Americans in the restaurants, they explained to me that having grand parents or parents from the WWII era, food was scarce, they were raised to eat everything on their plates, regardless if they wanted to or not. So, when they spend money on a meal, they found it difficult to not eat all of the food.

 

Eating out, wasting food and paying with a credit card is another bad habit that's too common in our country.

 

That's not uncommon in our country, at least it used not to be.  I had to clear my plate.  Take what you want, eat what you take.  My EX constantly just bought new (prepared - she didn't cook, ever) food and ran a LIFO (last in first out) system, just chucking the older stuff as it rotted, since otherwise she would have had to have actually moved the old stuff forward, or else reached behind the new.  No way.

 

But was hanging out with this Lithuanian FA recently, some very nice multicourse dining, and she'd clear every bite.  Said just wrong from where she grew up (in Soviet era) to waste like that. Yet... she had some Russian-style snob to her about "quality," if any of you are familiar with that trend.  But heck, for a 5,9" blonde with well, she was doing well, I let it slide.  (see below)

 

 

 

21 hours ago, Rogue said:

I disagree.  Fishing boats (and no, not a canoe) are not normally women bought. The convertible Corvette is normally not women bought. The 30k Jeep with 20k worth of add-ons are normally not women bought.  Any large ass vehicle, particularly with a 4wd designation, is not normally women bought.  The 5k man cave entertainment setup is not normally bought by the women.  I mean, it's called a man cave.  Etc?

 

As a former guitar gear addictee, 1000s are spent....and I wasn't too bad.  You wouldn't believe the amount of money spent on guitar gear. Or any music gear I imagine. That's normally not women bought. 

 

The 30k fishing boat is actually worse than 1k worth of shoes.  And hell, I'm getting roughly 20 years worth of shoes to get to 1k.  

 

I'm more frugile than my wife, outside of good eats, but I can't honestly look at the landscape and not see the unnecessary $$$$$$$ spent by men.  

 

Perhaps you live in a place that this doesn't exist or isn't obvious, but I have.  I've known many to justify their purchases, while complaining of the other half's spending.

 

From my perspective, it's incorrect to say women are the bigger problem, and I'm fairly frugile and my wife is financially free spirited. This is a people problem, not owned by any one group.

 

11 hours ago, TitansFan777 said:

As long as I put away ~45% or so after all expenses (bills, very nice apartment rent, food, nice car, student loans) from every paycheck, I am happy. I do occasionally buy something crazy (85" Sony 4k TV the other week, or a christmas trip to California to go hiking/being a tourist) and I am not afraid to go out to the bar with friends or go to a nice restaurant at least a once or twice per month, but I do keep track of spending and can keep it well in control.

 

I can be fired tomorrow and have more than a year of cash on hand to live at my current lifestyle, and almost a year and a half if I were to live frugally.

 

But it all comes down to building good habits. I like expensive things, but I get just as much pleasure by seeing my savings go up by $1500-2000 per month.

 

Finally, I do think it is a male-female thing to an extent as well. Myself and my friends can all live how we do because we manage money effectively. I compare them to their GFs and my list of GFs/former GFs who almost never knew how to save up or budget their lives. I forced my current one to open up her books and let me set a budget for her, because she makes slightly more than I do, and we both got jobs out of college at the same time, but she barely has enough money to cover herself for 2 months in case of getting fired, and is always balking at paying for things because her bank accounts are in such poor shape.

 

We looked at her spending, and even though her big expenses (apartment, car, student loans) all come out to what I spend roughly, her choice to eat out all the time (3x days per week) drink Starbucks every day, and always buy small purchases at Bath & Body Works, the grocery store, and other places just rape her account. She doesn't need Lululemon workout attire when she can get nearly the same quality at Dicks. She doesn't need a smelly candle when she has 16 half used ones at home. She doesn't need 20 pairs of shoes, 80 sets of underwear from Victoria's Secret, 40 bras etc. Its just buying stuff to have stuff.

Men blame women for being shopaholics and having no impulse control.  They on average do buy more stuff than men, largely in part too since traditionally they are the ones that actually DO the boring shopping (kids clothes, groceries, holiday presents etc).  Many do like their jewelry. 

 

Women blame men for buying expensive toys not needs: cars, boats TVs. 

 

But really, seen too many examples of one Budget Keeper in the family being a man or woman.  Goes too much either way to say its falls on either side of the fence.  Case by case basis.  Only big difference is that it's true that boy toys cost more.  (see below)

 

 

5 hours ago, ctm said:

Dump her.  She won't change and you will be in perpetual conflict.

 

This is ugly, and painful.  But now on other side of divorce fence, there is truth there.  Not really about money exactly, just about expecting/hoping that each other will change.  Old cliche we all forget.  Or else you think it will be fine, you'll love through it.  Odds are one won't.  And for many as you get older, little things that poke at you every day just get worse not better.  In hindsight, they really are little.  But in the heat of the moment, they become the fights... over nothing,

 

4 hours ago, abenjami said:

No.  Not being able to manage a realistic budget is where people screw themselves.

Well I see you're back to Yes finance cars.  You'll be happy to know that for the first time in well, forever, I am actually financing my new toy.  Was just going to write a check, and did drop down $20K, but made an inquiry with a Maui credit union (never talked to one of those before) and they had an extremely low rate, so will run it through them once toy gets here. (coming from Marin so will have to transfer it over; and was an '18 CPO so no finance deal via MB)

 

And yes, stupid expensive 100% unnecessary waste of funds boy toy.  

 

4 hours ago, abenjami said:

I think we need to see pictures first.  Some things are worth paying more for...

Not to me, but in reference to Lithuanian FA, would post, but a bad idea x1,000,000.

 

But yes, at least for short term fun, was worth every penny.

 

 

The whole [people don't know how to manage their money/buy crap they can't afford/aren't taught it how they should be at home or in schools/maybe powers that be dont' want it taught] has been my soapbox so long not in the mood to get back on it.  For many here looks like a group platform now, which is not a bad thing.  Even with extremely different perspectives that seem in conflict in this thread, there is more shared ground than realized.  Probably because it's all so obvious - except for the solution, that being to human nature, because there isn't one. 

[abenjami]

I know a guy who owns a Ferrari and a boat. 

 

He lives with his Mom.

 

[abenjami]

@chef it sounds like you made it through the rough period and are living it up!

 

 

[chef]

10 minutes ago, abenjami said:

@chef it sounds like you made it through the rough period and are living it up!

 

 

Well, I wouldn't go that far.  Mostly just working a ton and trying to be (Single) Dad of the Year. But trying to sprinkle in some fun here and there.  A random Seattle-Victoria-NYC-Amsterdam-Bruges-Paris trip here, a euro FA there, throw in a AMG to help me get over it all.  Money can't buy happiness, but it can buy 500+ hp, and that's pretty close.

 

 

[MamlngEnvy]

5 minutes ago, chef said:

Well, I wouldn't go that far.  Mostly just working a ton and trying to be (Single) Dad of the Year. But trying to sprinkle in some fun here and there.  A random Seattle-Victoria-NYC-Amsterdam-Bruges-Paris trip here, a euro FA there, throw in a AMG to help me get over it all.  Money can't buy happiness, but it can buy 500+ hp, and that's pretty close.

 

 

Working my way there

 

 

first restaurant opens in a week or two. Meal prep business started last year been taking off. 

 

Finally gonna see all those years of slaving away for $10 an hour pay off hopefully!

 

 

 

 

[OILERMAN]

5 hours ago, Bink said:

Reading this thread, it continues to make sense to me. Meanwhile, Amazon paid 0 dollars in federal tax on 11 billion in profits. 

Yet people are mad because some poor mom is on food stamps or the bottom % gets a refund and doesn't pay in. 

 

 

[OILERMAN]

Chris Hayes has a really good podcast on taxes and how Republicans have gutted the IRS over the years

 

https://art19.com/shows/why-is-this-happening-with-chris-hayes/episodes/4d636cb4-fda2-4741-9efd-fb2e3554bed4

 

But before even getting into the policy debates and the ideological disputes, there’s one important and fundamental question that has to be answered: Do we have an IRS that has the capacity to do such a thing? ProPublica’s Jesse Eisinger has done stellar reporting to uncover the scandalous hidden story of the ways the Republican Party, corporate interests, and big donors have all succeeded in gutting the IRS of its ability to do the one thing it exists to do: collect taxes to fund the United States government. 

[OILERMAN]

The most consistently profitable companies in the Fortune 500 only pay about half the statutory federal income tax rate—a fourth pay less than 10 percent. Some even get refunds from Uncle Sam—30 companies have enjoyed a negative income tax rate the past three years despite making $160 billion in pre-tax profits.

It’s the definitive study that punctures calls for a cut in the federal income tax rate on corporations, provided yesterday by Citizens for Tax Justice and the Institute on Taxation and Economic Policy (CTJ and ITEP) in “Corporate Taxpayers and Corporate Tax Dodgers

[pat]

it's an interesting angle -- instead of raising taxes, simply fund the audit department of the IRS

[IsntLifeFunny]

That type of shit really makes me want to say fuck paying taxes. I’m supposed to pay 30 % while these fucks don’t pay a dime on 160 billion? Hell, some of em are getting rebates. Absolute insanity. 

[ChesterCopperpot1]

9 hours ago, ChemEngr79 said:

Similar here. Wife had a 12 year old Saab that we recently replaced with a 2.5 year old Cayenne for a little under half the new list price. We paid roughly half down and paid the rest off in under 5 months. Paying 3.9% interest was anathema to her...lol

 

She is actually more anal about saving than me, and I am very aggressive. She is from Seoul, so there is a cultural component to it for sure...

I’m not a Porsche guy — but it seems like 99% of #lawtwitter owns a Porsche (I’m not the 99%) — but the Panamera is fucking sweet.