Sure - but my interest rate is higher than the mobs
A deal I can't refuse!
How do new Jeep owners afford them?
- Thread starter CharlesHS
- Start date
A deal I can't refuse!
OP
Thanks for the calculations; I calculated the same basic numbers, but the assistant manager emphasized the monthly amount and duration several times.
Not uncommon...
I sold cars for 3 months when I first moved to AZ 16 years ago. Honestly, it was the most fun I ever had and if I ever need something to do in retirement, I'm totally going back.
What they do is overquote you the monthly payment at the sales desk. They're giving themselves some wiggle-room so that when you go back to the finance department, they're "magically" going to sharpen their pencils and bring the monthly payment down while also adding in things like "tire warranty", "gap insurance", "extended warranty", etc. By getting you comfortable with the pricing at the very beginning, it's a much easier time in finance to sell you on stuff you already mentally "paid" for.
We bailed from the out skirts of Show Low AZ after 3 years. Prices have become insane there. 2 year waiting list for a new home build, summer crowds are like Disneylands. Ca is no different. Folks paid 120K for their place in 84, now its valued at just under a million. Who the hell can afford this stuff. NO job locally pays that kinda wage to even qualify let alone make the payments. A mass Housing Bubble explosion is on the horizon IMO.
OP
In the 20 years that I have been visiting my brother (he has lived in FL for more than 30 years); I have noticed a lot of houses and apartment complexes spring up where there was previously only swamps....
I have been a resident for almost 5 years and purchased a home a year ago.
In a years time the appraised value has gone up approximately 30%.
I recently read a report that in the period of 1 July 2020 to 1 July 2021 the FL population has increased 226K; of which most of that population has come from CA and NY.
I have been a resident for almost 5 years and purchased a home a year ago.
In a years time the appraised value has gone up approximately 30%.
I recently read a report that in the period of 1 July 2020 to 1 July 2021 the FL population has increased 226K; of which most of that population has come from CA and NY.
I bought my home in FL for that reason. I was looking to invest in property and FL was blowing up. My parents retired here and we use it as a vacation home. I'll sit on it until my parents can't be in FL on their own and then sell the place. Traffic is stupid but handing the government more money certainly isn't the answer. The state doesn't have an income problem, they have a spending problem.
I hear ya - before deciding to move to Flagstaff, we looked at Show Low and a few other towns in the White Mountains as a place to buy a cabin/summer home that could eventually be a retirement home. We had been going there for years (we do an annual camping trip in Big Lake too) and loved it. We started looking at a few lake houses but in the 3-4 years of where we made it a regular thing, most of the affordable houses and cabins were quickly bought up by VRBO investors (mainly from CA but our realtor told us from Asia as well) and basically doubled everything. Modest homes on the outskirts were $120k-140k and in four years they were selling left and right for $400k+ (and again - these were modest 1200-1500 sq ft, retirement or VRBO style houses).
I'm not sure what's going to happen, especially in places like Show Low. My wife's step-grandmother's oldest daughter lives there (moved there in 2008 from Sedona) and has a typical retail style job. She has told us for years how she made barely enough money to live in Cottonwood/Sedona but Show Low was great. Now she can barely afford rent. That entire area is mainly tourist and retiree driven - I'm not sure there are many fast-food, retail, or tourist jobs that can support a $1500/month rent cost. There are plenty of towns that got "too big for their britches" and then fell apart due to a crash of economic activity to keep it moving.
I would never want to go back to apartment living, but for these types of folks I think the best option is roommates in a multi bedroom apartment.
In urban centers this is a probably a viable option, especially with decent public transportation from a surrounding neighborhood.
But in rural, AZ mountain living - this is simply not a possibility (at least not in sufficient numbers to support the town as it currently stands). This whole area - like many tourist and seasonal destinations in the west - are all about small-town life for the full-time residents. Those that wanted to make Show Low a home did so for the slower pace and lack of "hustle" needed for everyday living. I have to imagine (actually I know for a fact b/c I've seen it many times) that very few would consider changing their lifestyle to accommodate anything but that small-town living that drew them to those areas in the first place.
What drove them to places like Show Low will eventually drive them to other more affordable options, leaving a very large gap in the lower to middle economic workforce, which will then cause those that moved there more recently to get fed up and eventually leave (that 50 year old housewife from Santa Monica will be damned if she's making her own coffee!!
). The Urban-Suburban Flight leads to "new rural" flight, which then leads to "old rural" decay. It's a vicious cycle that has chewed up many a quaint small town, some of which have never been able to bounce back.
I keep getting mail solicitations to buy either one of our rentals or our personal residence, "no questions asked". As for the roads here in Florida, anybody complaining about them needs to go to California.
I just read an article from Car & Driver that states that 40 percent of the cost of a new vehicle is "technology". That's just fucking INSANE.
I just read an article from Car & Driver that states that 40 percent of the cost of a new vehicle is "technology". That's just fucking INSANE.
Dude everyone one in this country is one broken leg or Illness away from living in a box. Having a brand new Jeep in the driveway won’t make a difference.
OP
That was what I was trying to figure out myself...
I went back to the dealership yesterday and asked some more questions of which that was one...
The Assistant Manager just gave me a dirty look and said those are the numbers ...
There is a whole lot wrong with that AM's numbers so I will not be returning.
My previously broken leg (plus 12 titanium pins!) and lack of living in a box suggests otherwise
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
Does not change the fact that most people overextend and plan poorly or not at all for incidents and emergencies. I agree about the healthcare part though.
When I had Covid a 6 day hospital stay with treatment was almost $60k all in. My max out of pockets was $7500 and I was able to get that into a zero interest payment plan for 3 years. I carried over my old payment plan from an illness last year so I owe about $223 a month or $8k. For some people that would cripple them financially due to overextending to buy things they cannot afford. That extra payment would topple the house of cards. Sad but true for many.