S197 Values - current asking prices vs mileage

[Juice]

^^^ Smart man ! x2 Have one CC, gets paid off. Gotta watch that some CC companies get pissed off if you don't carry a balance. And start playing games with "you were late paying",which was false. It was the "What's in your wallet?" one....

 

[tjm73]

^^^ Smart man ! x2 Have one CC, gets paid off. Gotta watch that some CC companies get pissed off if you don't carry a balance. And start playing games with "you were late paying",which was false. It was the "What's in your wallet?" one....

Every once and a while I "throw them a bone" and carry a tiny balance over so they make a buck or two. They gotta eat too. LOL!!

 

[Juice]

Every once and a while I "throw them a bone" and carry a tiny balance over so they make a buck or two. They gotta eat too. LOL!!

They get almost 2% of every transaction dont they?

 

[JJ427R]

Sorry, have to disagree with "nothing wrong with debt".
Some debt cannot be avoided, but unnecessary debt MUST be avoided. I get the "not having a credit score" and having trouble buying a house. But to just spend on credit and not keep it in check is where most ppl go wrong.

I have to disagree with this statement as a our economy runs on credit and debt, and if we had neither our economy would fail immediately. The problem is people taking on more credit than they can afford.

Credit can be a good thing. I pay as many bills as I can every month with my Discover card and use it instead of cash as I get the 5% cash back and that adds up. For me usually about $500 a year, I just never carry a balance on the card and pay it every month.

I purchased my 2010 Roush new and at the time Ford had 0% financing. I worked a great deal on the car and took advantage of the 0% for 3 years and left my money making money for me while I used Fords money for 3 years. I saved almost 8K in finance charges + the interest I made on my money for 3 years.

 

[eighty6gt]

donate some of that savings here:
https://www.gofundme.com/f/poll-on-marjorie-taylor-greene-her-district

 

[mike maloney]

that is the key,manage your debt and base your debt on just 1 spoue in a marriage.

 

[Juice]

To put it simply, I dont pay interest. Mortgage is the worst. Pay that shit off early.

 

[LarryJM]

Mortgages are now less the 2.5%. Some want to say 1.9% but that never comes about.

 

[eighty6gt]

It's free money. Inflation much higher.

 

[eighty6gt]

https://www.autotrader.ca/a/Ford/Mu...7gIVVppkCh0dXgy_EAEYASACEgL1mvD_BwE&modalXS=1

 

[Juice]

Yea, that low rate seems like nothing. But it is compound interest.
Here are the rough numbers on an 85000 starter home @30 years. If I just paid the monthly payments, in 30 years I pay back $240,000. Same mortgage for 15 years I would give the bank back 140,000. Pay a little extra a month, pay off the 15 year in under 10 years. After the house is paid off, you can put that monthly payment into savings. Im not paying mortgage interest for a tax write off @.30c on the dollar interest paid. Based on 6.5% interest.

 

[eighty6gt]

My starter home was built in 1912 is 900 sqft, is in the ghetto and cost 340 grand

Luckily interest around 2% and trending to 0 or negative soon

 

[Juice]

My starter home was built in 1912 is 900 sqft, is in the ghetto and cost 340 grand

Luckily interest around 2% and trending to 0 or negative soon

Negative rate? Never happen. The bank will not give you money for borrowing. They can play with the numbers, but you will always pay a significant amount of interest. All you can do is minimize how much.

 

[Pentalab]

https://www.autotrader.ca/a/Ford/Mu...7gIVVppkCh0dXgy_EAEYASACEgL1mvD_BwE&modalXS=1

$230,894.00 ??? WTF?

 

[Pentalab]

My starter home was built in 1912 is 900 sqft, is in the ghetto and cost 340 grand

Luckily interest around 2% and trending to 0 or negative soon

Mine was built in 1953. 1000 sq ft up, and 1000 sq ft basement, 1/3 finished. .23 acre. Paid $245K for it back in 1997. Assessed a month ago at $940K. Real estate value is $990K.

Other than a mortgage, everything is paid in cash. Paid it off back in 2002. IF mortgage rates increased, a lot of folks are gonnna be in a lot of trouble....and fast. I remember the fiasco back in 1980-1981, when rates went as high as 22%. I had locked in at 11%, in 1979, for 5 yrs, for a 15 yr mortgage, on the 1st home. When rates skyrocketed, folks were losing homes left and right.

2% might sound cheap, but when rates increase to 4%, look out.

 

[Pentalab]

My mum read me the riot act back when I was 18. "other than a mortgage on a house, if you can't afford to pay cash, you can't afford to buy it". Credit card companies have never made a dime from me.

 

[eighty6gt]

I look at it this way, all of the interest I've ever paid wouldn't even get me halfway to a 2016 GT350 non R, and I don't want one of those. I'm good. Wouldn't trade my life for anyone elses. The expensive shitty house is annoying and no good solution is in sight, I will get SOAKED for the rest of my life living here, but whatever. I have a job, wife has a job. I feel bad for people who can't make money.

 

[tjm73]

We paid $199K almost 10 years ago for our house on 5 acres. I'm certain we could get 250-275 for it before the end of the month if we wanted to sell. Our interest is 4.25% (which was quite good 4 years ago). I need to look into refinancing soon. I'd like to keep the payment near what it is for a shorter term than we have left currently at a lower rate.

 

[Juice]

We paid $199K almost 10 years ago for our house on 5 acres. I'm certain we could get 250-275 for it before the end of the month if we wanted to sell. Our interest is 4.25% (which was quite good 4 years ago). I need to look into refinancing soon. I'd like to keep the payment near what it is for a shorter term than we have left currently at a lower rate.

I would advise not refinancing. Just spend anything extra you can per month. Dont waste money on the refi, as you will end up paying points that is just going into the bank's pocket and does not reduce your principal.
The more you pay back the principal, the less interest is paid out of your monthly payment. On a new mortgage or refi, the interest is like 90% of the payment. 10% principal.
For example, it was not worth to pay off the last few years on our motgage as at that point, a very small percent is interest.

 

[Pentalab]

Current rates are no where near 4.25% .
If you got a cheaper rate....but paid the same $$ per month, he would be paying it off a helluva lot faster... even if a small penalty had to be initially paid out.