I hope you future JL owners have a lot of money...

Interesting thread. We only have our mortgage payment on our home. I would love to get it paid off, but still have around 20 yrs. fortunately almost half the value is capital, which tempts me to sell out, but it’s such a cool place!

It’s just not worth it on any level for us to put our little ones in daycare. If my wife worked she’d do it for what? To take almost all she made and give it to the daycare. Never made sense financially, to say the least, and that’s just for starters. All the time lost with the kids. Why have them?

We buy cars outright. Hate payments on depreciating items. That’s how people usually get in over their head. They owe more than the item is worth.

College. My kids have some money in college savings investments, thanks to their grandfather, but that’s it for them. They can work and pay their own way. That’s life.

@cliffish , that is so how car salesman look at me when I say, no, how much is the car? They have no clue what to say to that and resort to the how much can you afford monthly payment gimmick.

I’d never buy a new car. Let someone else take that hit. Besides, you know it’s a loss when the car is advertised $5,000 off! Give me a break. How can people not know that this is a marketing gimmick? My wife still brings advertisements to me saying, 50%off! Sale ends tomorrow. Oh really, there will be another sale tomorrow e.g. Black Friday, Black Friday Continues, Cyber Monday, et al. And just call and see if you can still get the deal. Odds are you can get a better deal. They want to move inventory, that’s the name of the game.
 
  • Like
Reactions: homerjaguar, johnny deeker and Chris
Great thread,
I would look at the JL diesel ( 2019 they say) as a daily driver to replace the truck. I think it is all relative and the cost of finance at 2% is not bad if you have the money in the first place to purchase outright so that the 60K can be working for you returning 5-8% but if you can not afford to buy a vehicle you cant afford the payments either (IMO)
I also look at vehicles as tools, you need to to accomplish a task and that is usually just getting from point A-B, So the Jeep is a tool and a fun tool at that, it accomplishes everything I need it to do when out and about.
 
my wife stays home and takes care of the kiddo he starts school next year but she will stay home and do wife things lol. i make good money so its a not big deal to me. the JL is an awesome rig witha hellacious price ill wait till the next wrangler comes out before i even think of buying one. mt wife wants a new vehicle and we can get a damn good deal on yukon xl a few years old but a DAMN good deal. we will have to make payments but i dont mind that.
 
  • Like
Reactions: johnny deeker and Chris
JMT said:
Interesting thread. We only have our mortgage payment on our home. I would love to get it paid off, but still have around 20 yrs. fortunately almost half the value is capital, which tempts me to sell out, but it’s such a cool place!

It’s just not worth it on any level for us to put our little ones in daycare. If my wife worked she’d do it for what? To take almost all she made and give it to the daycare. Never made sense financially, to say the least, and that’s just for starters. All the time lost with the kids. Why have them?

We buy cars outright. Hate payments on depreciating items. That’s how people usually get in over their head. They owe more than the item is worth.

College. My kids have some money in college savings investments, thanks to their grandfather, but that’s it for them. They can work and pay their own way. That’s life.

@cliffish , that is so how car salesman look at me when I say, no, how much is the car? They have no clue what to say to that and resort to the how much can you afford monthly payment gimmick.

I’d never buy a new car. Let someone else take that hit. Besides, you know it’s a loss when the car is advertised $5,000 off! Give me a break. How can people not know that this is a marketing gimmick? My wife still brings advertisements to me saying, 50%off! Sale ends tomorrow. Oh really, there will be another sale tomorrow e.g. Black Friday, Black Friday Continues, Cyber Monday, et al. And just call and see if you can still get the deal. Odds are you can get a better deal. They want to move inventory, that’s the name of the game.
Click to expand...

How about the buy one get one free deals? Such a scam! They have the price of two factored into one. I always tell my wife it’s nothing more than a marketing gimmick.
 
  • Like
Reactions: JMT and DWLJ
Chris said:
How about the buy one get one free deals? Such a scam! They have the price of two factored into one. I always tell my wife it’s nothing more than a marketing gimmick.
Click to expand...
Yep. I've traveled to several foreign countries where bargaining in the market is a way of life. The rule of thumb is, they are never going to lose money. They can get mad and yell and be very animated and act like your offer is preposterous, but in the end, THEY WILL NOT LOSE MONEY! It's the same in America. If you see buy 1 get 1 free, they are not losing money. It's all figured in. People are stupid if they think they are winning. The fact is, if I go to Wal-Mart to buy a big screen TV that's listed for $599, I'll tell the guy at the checkout, I'll give you $499. They'll go talk to the manager and 9 times out of 10 they'll sell it for $499. What does that tell you? They are not losing money! They are making money and moving inventory, and that is what they want to do!
 
  • Like
Reactions: Chris
JMT said:
Yep. I've traveled to several foreign countries where bargaining in the market is a way of life. The rule of thumb is, they are never going to lose money. They can get mad and yell and be very animated and act like your offer is preposterous, but in the end, THEY WILL NOT LOSE MONEY! It's the same in America. If you see buy 1 get 1 free, they are not losing money. It's all figured in. People are stupid if they think they are winning. The fact is, if I go to Wal-Mart to buy a big screen TV that's listed for $599, I'll tell the guy at the checkout, I'll give you $499. They'll go talk to the manager and 9 times out of 10 they'll sell it for $499. What does that tell you? They are not losing money! They are making money and moving inventory, and that is what they want to do!
Click to expand...

Exactly. No one would be in business if they were losing money. Marketing in most cases is a brilliant thing, and people buy into it. Having a marketing background myself, I see right past it and always laugh when I see the latest "deals".

Case in point: I was at Bath and Body Works Christmas shopping for my wife. I noticed they had candles on special for buy one candle for $25, get the second free.

I laughed out loud, because first off, you're going to have to explain to me how scented wax is worth $25. Secondly, there's no way one candle can possibly be $25. They're factoring the price of two into one! Talk about profit margin though. Those candles probably cost $1 to make! It's friggin scented wax!
 
Chris said:
Exactly. No one would be in business if they were losing money. Marketing in most cases is a brilliant thing, and people buy into it. Having a marketing background myself, I see right past it and always laugh when I see the latest "deals".

Case in point: I was at Bath and Body Works Christmas shopping for my wife. I noticed they had candles on special for buy one candle for $25, get the second free.

I laughed out loud, because first off, you're going to have to explain to me how scented wax is worth $25. Secondly, there's no way one candle can possibly be $25. They're factoring the price of two into one! Talk about profit margin though. Those candles probably cost $1 to make! It's friggin scented wax!
Click to expand...
I'm guessing there aren't going to be any candles under the Christmas tree for your wife. :)
 
  • Like
Reactions: johnny deeker
cliffish said:
Everybody out here leases so they can be in a car they never could afford to buy. They all live on the payment, that is the way the sales person approaches you by asking where you want your payment to be? I have thrown more sales people for a loop when I respond "tell me how much the car costs, not what the payment is"...usually get a blank stare.
Click to expand...
That’s how I approach it as well. I’m more interested in the value of the vehicle than the payment and NEVER buy new. I let the previous owner suck up all that depreciation. You vehicle looses so much value the first 4 yrs. No thank you. I have no interest in keeping up with the Jones or their debt lol
 
lovemachine said:
Dunno if you guys follow Dave Ramsey. He preaches the borrower is slave to the owner. Which is from the Bible.

He also states that your cars, or anything with a motor, value should not equal half your income. Simply because the value always decreases. Unless you’re a millionaire, and only them can you afford something that goes down in value.
Click to expand...
I went thru his course many years ago and still try to live buy it. Except I don’t use the envelope system anymore. I think his suggested car value was more like 25% of your annual income. I could be misremembering tho. It’s been 10 yrs since I went thru FCU.
 
lowranger said:
I'm guessing there aren't going to be any candles under the Christmas tree for your wife. :)
Click to expand...

Haha, actually there are. Just because I hate the idea doesn’t meant she doesn’t get them. Gotta make her happy!
 
I bought my 2003 TJ for 7500. Had 100000 miles. An acquaintance said," hey nice impulse buy!" "Thanks " I said. ( It was cash after i sold my paid off Nissan pathfinder and impulsively saved the difference). I don't make payments. I save and wait to buy then put the payment away for my kid's school costs.
I think that debt is a trap that sucks the life out of your life. I'd rather be free.
Funny,,,,,i don't care much about gas mileage either.
 
  • Like
Reactions: DWLJ, JMT and Chris
We got debt free about age 35 (even the mortgage). Mostly through hard work and money management, partly through a small windfall on a gas lease. We have stayed that way ever since, and I highly recommend it. The most expensive vehicle I have ever purchased was 13 K (my wife’s 2008 Suby), and I only make one payment when I buy. Every pay $150 goes into the “car fund”, and when it’s time to buy, we can afford whatever is in there. We do an envelope System for spending $ and grocery $, and when it’s gone it’s gone. We have two kiddos, 13 and 16, and my wife hasn’t worked in almost 17 years. I don’t make a huge paycheck, but we get by just fine, and living without the debt stress and having her home every day is awesome. Anybody can get there if they discipline themselves and resist the lure of flashy new crap and sales gimmicks - even if not for the stroke of good luck we had, the road we were on already would have put us there by 42. I guys who are getting out from under WILL NOT regret it.

On topic, no way in hell will I ever purchase a new Jeep - could not possibly be worth half of what they are selling them for.
 
  • Like
Reactions: homerjaguar, Chris, johnny deeker and 2 others
Top Bottom
Back