Saturday, December 23, 2017

Dude Bros Getting Their Cars Repossessed

Uh oh!  Oh nosies dude bros!

You mean that sales job


Frat connections

And all those networking events you attended

didn't pay the bills for your borrowed car?

Say it ain't so dude bro!!!

Don't worry.  Order some more bottle service at a Vegas "ultra lounge" to impress your friends and that whore hanging on you because you spent other people's money you borrowed on her.


David v. Rudisill said...

I've seen people go through hell and back over car loans and cars they couldn't afford. I used to work at Walmart and it was pretty common for some of the employees there to be in massive debt for cars they couldn't afford. One of my coworkers was paying nearly 700 a month for a 2013 Ford Focus and he was only a part-time employee bringing home probably 900 a month. One of the department managers showed up in what looked to be a Porsche 911 and I know he was making 15 an hour tops. My jaw dropped when I saw that because there's no way in hell he could afford that. I can't imagine what a strain on their finances those cars must be. They're a few paychecks away from getting repoed.

My niece also got her car repoed a few years ago and had to pay nearly $1000 in repo fees. I think she had to declare bankruptcy and now drives a $1200 POS car. Save your money kids and buy something cash. Don't get in auto debt if you're working a low-paying job.

Bob T said...

My father in Law, a very wise man told me to always buy used cars. I am now driving a 2005 Buick Lacrosse that is expertly maintained and runs great. I can afford to buy any car I want, I choose to invest my money in other areas of my life. The best car option to have is the "paid for" option. One of the young men who works with me and makes a lot less has over $100,000 in car loans. Yet, he cannot understand why his life is a struggle. Remedial Financial education should be taught in schools.

A Texan said...

A new car relative to income is not necessarily a bad thing. You can find car for cash, but with all the electronics and electrical, make sure you not buying someone's freaky unsolvable problem.

The cost of new cars is incredibly amazing these days. And the cost to maintain them in some ways.

Anonymous said...

To the guy above. Driving a $1200 POS car is the way to go. Its amazing to me how much money people waste on cars. I have paid cash for my last 5 cars. Current vehicle is a Toyota Tacoma that is 8 years old (had it for a few months). Before that I bought a Nissan Frontier that I drove for 15 years. Before that I drove complete junk the total price combined for 3 cars was under $1000. They were all junk but they got the job done.

A good article would be about not wasting money on cars especially new ones. The great feeling of driving a new car lasts far less than the years of payments do. If you have to buy a new car drive it until it falls apart. Best thing is to buy something relatively new. Let someone else take the depreciation hit. Get something a few years old then drive it until it falls apart

Faithless Cynic said...

Buying a car for show rather than transportation is a sure way to screw yourself. I am 62 years old and have bought 3 new cars in my life, all stripped down Toyotas with options selected for longevity ( get a manual trans and a four cylinder). The last Toyota I bought is 20 years old and over 200,000 miles. It has some problems but should last till I retire at 66.

If you need a reliable car and cannot or will not do your own repairs, buy the cheapest, stripped down new car you can and maintain it well. Change all the fluids and filters often. That way you avoid dealing with a POS used car that will cost you more in the long run. My Toyota dropped probably 25% in value when I drove it home. No big deal as I am still driving it 20 years later.

Youtube is a big help too, I saved $400 by fixing my A/C myself.

David Reynolds said...

There are two purchases that I made in my life that I regretted the most when I was younger: An $80 pair of Gargoyles sunglasses and buying a 1990 Chevy Beretta brand new.

As asinine as paying $80 for a pair of sunglasses because it looked so cool on Arnold in the Terminator, it was nothing compared to buying a new car when I was 20 years old. I bought the biggest piece of shit car I have ever owned brand new borrowing the money to pay for it 9% APR. That was my first real lesson in pain, suffering and consequences.

If it wasn't bad enough that my notes were $238/month and my insurance was $232/month, the car itself was a lemon. Before the car hit 50,000 miles, it blew a head gasket twice, the computer went out AND it went through motor oil like crazy.

Never again did I buy a new car. I bought used. I most definitely didn't own another GM car ever again. I have been in Toyotas for the past 25 years.

Don't buy new cars. Buy used. If you paid more than $3000 to $5000, then you paid too much. Even if you buy a used car for $2,500 and have to spend another couple of thousand on repairs to get it road worthy, it is still WAAAAAAY cheaper than buying a new car.