How do new Jeep owners afford them?

Soterios said:
I mean...regardless of having a car payment, "1 broken leg from living in a box" is a condition of our shitty health care/insurance system in America. xD
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Agreed that our healthcare system is complete shit, but why exacerbate the likelihood of living in a box by adding a monthly payment that one is marginally capable of making without said broken leg??

I'm not a huge Dave Ramsey fan (though I think he's good for people looking to get out of a hole) but I believe he generally advises that you shouldn't own anything with a motor that is more than 1/2 your income. Our financial advisor said the same (and his comments had nothing to do with DR's comments as he wasn't even aware of DR's "steps"). For example, if you make $50,000 a year - you shouldn't own a car worth more than $25,000 (he also is adamantly against car payments which only tends to get worse due to the "debt loop" for many)...
 
pc1p said:
Agreed that our healthcare system is complete shit, but why exacerbate the likelihood of living in a box by adding a monthly payment that one is marginally capable of making without said broken leg??

I'm not a huge Dave Ramsey fan (though I think he's good for people looking to get out of a hole) but I believe he generally advises that you shouldn't own anything with a motor that is more than 1/2 your income. Our financial advisor said the same (and his comments had nothing to do with DR's comments as he wasn't even aware of DR's "steps"). For example, if you make $50,000 a year - you shouldn't own a car worth more than $25,000 (he also is adamantly against car payments which only tends to get worse due to the "debt loop" for many)...
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Oh for sure. I'm not defending the purchase of the car. I'm just saying that medical bills fuck people up regardless of their financial situation ahead of time.

I can't imagine buying a car worth half my income, tbh. That's more than I'd ever spend on a car unless it was the 'dream car' or something.
 
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pc1p said:
Agreed that our healthcare system is complete shit, but why exacerbate the likelihood of living in a box by adding a monthly payment that one is marginally capable of making without said broken leg??

I'm not a huge Dave Ramsey fan (though I think he's good for people looking to get out of a hole) but I believe he generally advises that you shouldn't own anything with a motor that is more than 1/2 your income. Our financial advisor said the same (and his comments had nothing to do with DR's comments as he wasn't even aware of DR's "steps"). For example, if you make $50,000 a year - you shouldn't own a car worth more than $25,000 (he also is adamantly against car payments which only tends to get worse due to the "debt loop" for many)...
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I used to listen to D.R. and his advise is pretty solid for folks digging out of a bad situation. It takes a lot of focus and commitment to get it right. I would bet very few of his disciples manage to stick to the plan. It's tough in today society to make the necessary "sacrifices" since everyone wants everything all the time.

Once you transcend debt and have the fortitude to avoid going back into the same situation things change. Its hard to want to pay cash for anything when you can borrow the money for free, or for far less than the return you are getting on cash investments. I want to retire some day and be comfortable doing it, I also want to live my life right now and enjoy it. Its a tough balancing act to get right.
 
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Wife and I just dumped our 2019 jl unlimited because we could no longer make the payments. My wife works from home now and doesn't leave the house very often so it was an expensive driveway ornament. We had owned it for over a year and I had dealers fighting over it when we decided to sell.. We ended up buying a used car with a $200 payment and I think we will be happier
 
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How can you afford it ? Can’t speak for everyone else but we have a 2021 JLU eco diesel
Sticker was 50000 bought for 48000 traded a paid for 2013 Cherokee limited 4wd got 18000 and paid the difference
Years ago we started saving before purchasing and never bought what we couldn’t pay for therefore never had a car payment also drove a lot of older paid for cars until we got to this position
 
JeepOnDecision said:
I've got friends who actually say to me, "if I can afford the payments, I can afford it." They're 1 broken leg or illness away from living in a box
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I always tell those people that you don't own it, the person who actually owns it (the bank) will come to get it if you quit making the rental payments.

I saw a college-aged female get out of a brand new 4-door JL. My guess would be OnlyFans judging by her yoga pants. :LOL:
 
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I’m in the camp that agrees you can borrow money for very cheap. That is starting to and will change. Take advantage while you can.

To save $25k in 5 years, you’ll need to put $416 a month away. While you do that, you still have to drive something. Let’s say, you find a decent $5,000 vehicle. That’s $83 per month for 5 years if you pay cash…no interest. A 5 year loan at 2.5% and no money down is $444. Personally, I think the more economical solution is to take the loan and buy a brand new car. You’ll have a warranty and little maintenance.
 
Younger generation of twenties doesn't understand that those years are your prime saving years. Most of my wealth was earned from twenty seven to thirty seven. Lots of that money went into a portfolio that is worth a ton of money today. At least buy a house instead of a fifty thousand dollar vehicle. Although here in Florida many of these spoiled younger people come from very wealthy old money families. My twenty five year old daughter has a few friends that live wealthy lives, and have not worked a day in their lives yet.
 
People have lost their minds in so, so many ways. We are heading towards a reckoning of some kind, between this ridiculous housing situation, student loans, insane consumer debt, a national debt that almost seems like a cartoon abstract rather than anything that can possibly be real, and of course a government that’s piloting the freight train down the mountain already out of control while demanding more coal be shoved into the engine to double the speed.

So in one sense I find it incredibly stupid when I see people that are living on or already over the edge signing up for 84 months of ridiculous payments, particularly for a tech riddled gas guzzling sled, but then on the other hand part of me says eat drink & be merry because tomorrow we are imploding.

Oh & apparently the cork is about to blow on this puppy so sell your overpriced beachfront property to some other sucker sooner rather than later :ROFLMAO::

 
Westtown Willy said:
Oh & apparently the cork is about to blow on this puppy so sell your overpriced beachfront property to some other sucker sooner rather than later :ROFLMAO::

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Sorry, couldn’t disagree more. Hold on to any and all land/property you own. Property is a commodity that is finite and will continue to grow in value regardless of the economy or generation.
 
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Pokahpolice said:
Sorry, couldn’t disagree more. Hold on to any and all land/property you own. Property is a commodity that is finite and will continue to grow in value regardless of the economy or generation.
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You got that right. Property is where its at. Florida has been good to me. Sell it, and you can't get it back. That's the problem with the minority community. When mom dies they sell the house forever renting.
 
Potomus Pete said:
You got that right. Property is where its at. Florida has been good to me. Sell it, and you can't get it back. That's the problem with the minority community. When mom dies they sell the house forever renting.
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You lost me. What does “the minority community” mean or refer to?
 
Pokahpolice said:
You lost me. What does “the minority community” mean or refer to?
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This is all I'm going to say on the matter because this is not Jeep related. In major cities gentrification occurs when families won't pay the taxes, or just sell the house outright to split the money. Widening the wealth gap is a major problem for some people, and it starts there. Not looking to be called a racist, or sound smarter than the next guy.
 
Pokahpolice said:
Sorry, couldn’t disagree more. Hold on to any and all land/property you own. Property is a commodity that is finite and will continue to grow in value regardless of the economy or generation.
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I agree land is the best, particularly as we slide down the inflation hole so I think you misunderstood my post. If, IF, that beautiful 2 feet above sea level beach front property you own in Florida for example is suddenly 2 feet below sea level/under water, there's nothing left to 'hold onto'...
 
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