Merv's Politically Incorrect Audio Blog

The big money Raptor is Da Stuff fo enhancing yo male image, until you start believing the marketing hype...

 

Can't talk too much about details, but on my end it's a top ten bank in the east coast who has a 50-state indirect-lending Automotive Finance division (to your n00bs, that means loans thru dealerships only, not direct with the bank).

Most of the decision making is automated, but back when I was indirectly working with our analysts in automotive lending I saw some crazy deals. It isn't uncommon to see a decked out Ram 2500/Ford F-250/GMC-Chevy 2500 with the highest end trim, doing GAP/Service Contracts within the loan, and rolling $10k-$20k negative equity into the deal. If you have Prime and Super Prime credit and the income to afford the monthly payments, boom loan approval. Those monthly payments are close to $1k a month, which I'm like WTF. The ones less than $1k payments are 84 months at 5% APR.

We do finance up to $250k. The high rollers who want that $500k Ferrari need to at least need to do a big down payment in order to get the $250k financed by us. This also isn't uncommon.

Funny about cars, was dreaming about upgrading my paid off 2015 Honda Fit. However, it such a waste of money because my Fit is only 44k miles and it is only six years old. I just need to take it in soon to replace the transmission fluids and other stuff for standard maintenance. Was looking at a Honda CR-V or a Subaru Forester and wasn't too happy with the monthly payment amount even if I put $10k-$15k down. I dunno, not in the mood in paying $300+ a month towards a car if I can help it. Might as well get another sub-compact car that at least I can put all the seats down for storage and get it close to $200ish a month. I'm still the smuck who looks at a car for point a to b.

 

You'd be a fool to get rid of a paid-off 2015 Fit with 44k miles. At that point if you have car lust you buy a classic to drive on the weekends, but the Honda you have will see another 200k miles easily so don't mess up a good thing.

 

I know, that's why I said it is a waste of money to get rid of it. Super cheap car that runs great.

Note: I always dream about a bigger car so I can have sex in it/put more stuff in it. However, as soon as I think about that car payment I feel sick.

 

Make sure it is parked when you do it, lest ye be charged with the crime of coming and going at the same time.

 

…thinks of derailing the thread by discussing all the out-of-the-ordinary places I've had sex…

Hmm, nah.

 

I'm happy someone finds my banker craziness to be funny, because it is both funny and completely stupid.

Now if you don't think a truck can get near $100k, here's a good example. Now add that service contract and GAP from the dealership since you are too f'ing dumb to get GAP by yourself and those fees/taxes and boom, about $100k. Now if you are dumb with not best credit or bad trade line, shit can go up to $110k-$120k if needed.

As a reminder, for that price you can get a nice Lexus, MB, BMW, Jaguar, decked out Jeep, etc.

And this shit is a truck. Don't even go on a rant about the upcoming trend of 84 months. This is just what @purr1n was talking about (extending Mortgages for houses) happening on cars: Extend their payback period and look what happens...they go up in cost.

As much as I would love something like a Subaru Outback, a Subaru Forester or a Honda CR-V, I don't wanna pay $300-$400 a month on a car note after putting a big down payment. I'll take my low mileage Honda Fit k thx.

 

Why...... just why.......

Says me who also wants to one day find a way to sit in traffic in an early 00's NSX or 997.2 911...

 

I used to say I was asleep when new car prices went from ~$15k to $30k. Now I can also say I was asleep when they went from $40k to $80k. Add to that all the interest from extended financing…

Used to be you couldn't get > 3 year loan for cars back in the day. You really can't afford a car if you need to finance it longer than that. And some of 'em won't last as long as the financing contract!

 

I don't even understand how an F-250 can be $84k. What the f**k.

 

Add ons and trim levels are big profit margins for the automotive companies. Also, consumers want the Trucks.

 

^^ What @Erroneous said ^^

I bought this 2004 Tacoma Poverty Model for $10K in 2010 with 34K miles on it.





Ten years later it has 156K miles and runs like a top. I added custom seats and intermittent wipers cause I could and 17" Hyundai Sonata wheels because the only 195/75x15 tires you can get anymore are Chinese made utility trailer tires.





It wouldn't pull a greasy string out of a cow's ass, but I be rollin' jis' like doze jacked F250's be.
(Ummm... don't ask me if I pay stupid money for audio gear - but at least I don't borrow it.)

 

Are you now or have you ever been a conservative?

https://barrylyga.com/the_letter

On a more rational note, this guy thinks that we are well past a partisan divide (i.e. where you disagree but recognize the humanity/rationality/moral legitimacy of the other side) and America is now in a de facto "civil war", just one with few body counts as of yet:

https://www.anewcivilwar.com/post/civil-war-death-match-between-continuity-and-change

Of his three likely outcomes, before the past year I thought #2 was an almost sure thing, though I hoped that the things Trump stood for would at least temper it. However the recent energy of Red has me thinking it is just as vigorous as Blue. I still don't think #1 is likely, so perhaps #3 as long as prosperity remains high enough to make a real (shooting) civil war to hard, but what will it look like?

 

Yup, my neighbor just bought a new Ford Exploder and to get one that could tow a small horse trailer he had to get the uber decked out Venuvian package. You know the one that has the motorized "fold back into the body so you don't see it" running boards. Sticker was over $80k, he put the down payment of $33k on his credit card, er.... for the miles?

 

Yeah, I think I can make my 22 year old 35k mile 2wd 3/4 ton p/u, that cost $20k brand new, last long enough for my son to inherit it. I am damn sure going to try.

 

Better hope your friend paid that right back. Hopefully it is Amex with the MR points.

I wouldn't be surprised it would be officially #3 with tons of #1 in the undertones. Shit, at least in my backyard and most of the country me thinks people self-segregate themselves. I personally know people who are only friends with other Conversations, and same for the Progressives. Mixing friends groups based on beliefs is slowly going away because being in a safe space is the norm nowadays, sadly. When I go into my cigar shop it is nothing with GOP folks, but when I go into a bookstore it's the Progressive folks with Anti-Nixon signs. At my cigar shop I remember hearing this one guy who refuses to be friends with any Democrat or anyone with a liberal mindset. Shit, my GF friends are a bunch of white liberals who don't date Republicans.

Meh....

 

C'mon, we can do better than that:



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