clovis Posted August 15, 2014 Posted August 15, 2014 Agreed! That's why I was buying a 12 year old Jaguar for cash! The last new car I bought was my 1996 Grand Caravan and that was a wise decision since we still own it at near 200,000 miles. Since then I have bought a line of used cars for cash. I paid under $5000 each for them, except the big splurge on the Jag. The two Plymouth Breezes bought with 30,000 miles on each for $4300 each worked out very well. I put 200,000 on one before it died, and still have the other one. I never want to have a car payment, so I save a little and look for awhile until I find the right car at the right price. Now I have my eye out for a PT Cruiser in a good color, 50,000 miles or less for around $5000. And I'll eventually find the right car. The funny thing was that when I bought my house, in processing the mortgage, my credit report got flagged. I got a call that there was a problem since my car loans and other consumer debt weren't coming up. They had a hard time accepting that I had no car loans and no debt. They said I didn't fit their profile. We could be fast friends, Tom. We are debt free, and the last new car I bought was in '06. 99.9999% of the world thinks that we are the poorest people on earth, or something is majorly wrong with us. I've been blessed to have had some great quality cars, and we try to take care of them. Just last weekend, one of our neighbor was bemoaning the fact that they have (yet another) financial crisis, and they have "no credit to even buy a car." She looked at me and said, "I mean, you guys understand that, right...not having credit and all, right???." It was awkward to find the right words, and not sound like a pompous butt, but I politely explained that I really had no idea. If we have no credit score, it is because we have not borrowed a single dime in years, and my hope is to never borrow money ever again for as long as I live, God willing. Dave Ramsey is my hero!!!
Harry P. Posted August 15, 2014 Author Posted August 15, 2014 If we have no credit score, it is because we have not borrowed a single dime in years... Everyone has a credit score, unless every purchase you ever made in your entire life was with cash. If you've ever used a credit card, you have a credit score. If you have a mortgage, you have a credit score.
clovis Posted August 15, 2014 Posted August 15, 2014 LeSabre, Lucerne, and LaCrosse. And don't forget LeMans, LeCar, and LaSalle... or Patti LuPone... or the Man of LaMancha... Just hang out with me for a while, and you will soon figure out that I can't spell, LOL. Nonetheless, having a $43,000 price tag, they can keep their beautiful Buick.
clovis Posted August 15, 2014 Posted August 15, 2014 Everyone has a credit score, unless every purchase you ever made in your entire life was with cash. If you've ever used a credit card, you have a credit score. If you have a mortgage, you have a credit score. We haven't had a credit card in 11 years, maybe longer. (We got married 11 years ago) I know that, personally, I haven't owned or used a credit card since 1997.
Harry P. Posted August 15, 2014 Author Posted August 15, 2014 We haven't had a credit card in 11 years, maybe longer. (We got married 11 years ago) I know that, personally, I haven't owned or used a credit card since 1997. But you still have a credit score. An old one... but it's still out there.
Harry P. Posted August 15, 2014 Author Posted August 15, 2014 We haven't had a credit card in 11 years, maybe longer. (We got married 11 years ago) I know that, personally, I haven't owned or used a credit card since 1997. What is this crazy "living within our means" nonsense? Are you in some sort of cult???
clovis Posted August 15, 2014 Posted August 15, 2014 In my opinion, a credit score is really an "I love debt" score. The more a person uses credit, within their limits, and pays it back in a timely manner, the higher the score. That score will drop like a rock if you don't borrow money on a continued basis. Living under a person's means, some hard work, dedication to being frugal and debt free, along with a whole bunch of God's blessings, a person really can live debt free.
Harry P. Posted August 15, 2014 Author Posted August 15, 2014 Living under a person's means, some hard work, dedication to being frugal and debt free, along with a whole bunch of God's blessings, a person really can live debt free. Until you buy a house. And by the way, when you apply for a mortgage, they check your credit score. The lower your score, the higher an interest rate you'll pay. A low enough score and you won't even get a mortgage, period.
Harry P. Posted August 15, 2014 Author Posted August 15, 2014 You are right, Harry P. About you being in a cult?
clovis Posted August 15, 2014 Posted August 15, 2014 Until you buy a house. And by the way, when you apply for a mortgage, they check your credit score. The lower your score, the higher an interest rate you'll pay. A low enough score and you won't even get a mortgage, period. That is going to be an issue should we ever want or need upgrade houses. But then again, once we sold this place, and used the cash against the other house, it should help lower the debt to asset ratio. I'm just praying, that if that ever happens, a local banker will see that it will be cool to loan $65,000 against a house worth $200,000. (Those numbers only used to illustrate a point.)
clovis Posted August 15, 2014 Posted August 15, 2014 About you being in a cult? No, not a cult. I'm just a freak. Plain and simple. Nothing more, and nothing less.
Harry P. Posted August 15, 2014 Author Posted August 15, 2014 That is going to be an issue should we ever want or need upgrade houses. But then again, once we sold this place, and used the cash against the other house, it should help lower the debt to asset ratio. I'm just praying, that if that ever happens, a local banker will see that it will be cool to loan $65,000 against a house worth $200,000. (Those numbers only used to illustrate a point.) Heck, I'd loan you the money in that case! At a "competitive" rate.
Modelmartin Posted August 15, 2014 Posted August 15, 2014 What would you do with 24 Passats? Start your own taxi fleet? On the other hand what would I do with a Bentley Mulsanne? I would have to live in it since I wouldn't be able to make mortgage payments anymore.
Rob Hall Posted August 15, 2014 Posted August 15, 2014 On the other hand what would I do with a Bentley Mulsanne? I would have to live in it since I wouldn't be able to make mortgage payments anymore. Yeah, $3k a month would be a solid mortgage payment, but a bit much for a car..
Modelmartin Posted August 15, 2014 Posted August 15, 2014 LeSabre, Lucerne, and LaCrosse. And don't forget LeMans, LeCar, and LaSalle... or Patti LuPone... or the Man of LaMancha... Le Car!
Harry P. Posted August 15, 2014 Author Posted August 15, 2014 On the other hand what would I do with a Bentley Mulsanne? I would have to live in it... I guess you could consider it a very upscale "mobile home"...
Ace-Garageguy Posted August 15, 2014 Posted August 15, 2014 First gen Viper coupe, dark blue / white stripes, being driven enthusiastically out on I-75 N this PM. I still think the first generation Vipers were the most attractive, by far (well, next to the prototypes). Too bad the V-10 has such an unfortunate exhaust note. Also saw a second gen Corvair coupe, with a blotchy candle-apple red paint job and a "vinyl" roof that looked like bed-liner.
Luc Janssens Posted August 16, 2014 Posted August 16, 2014 (edited) a '70 Chrysler 300, it "looked good" other than that the WS was installed in a sloppy manor and that it's chrome surrounds were missing. It was parked at a 2nd hand car dealer near a address where I had to work..shot some pics, will post .tomorrow. Edit: August 17th, here the pics... Edited August 17, 2014 by Luc Janssens
Guest Posted August 16, 2014 Posted August 16, 2014 No pic, but a stunning 70 Challenger R/T, Hemi orange, black stripe.
Harry P. Posted August 16, 2014 Author Posted August 16, 2014 I saw two bright yellow cars today... the first I think was a Lambo... not sure, it whizzed by so fast going the other way that I can't be sure. Then later a bright yellow Prowler. Hard to miss that one going down the street!
Harry P. Posted August 16, 2014 Author Posted August 16, 2014 Almost forgot... I also saw a metalflake purple "40ish" Ford coupe with Centerline wheels parked in a driveway with a "For Sale" sign on it as I was driving past. Again, didn't get a particularly good look, as I was driving down the road at a pretty good clip, but something looked "off." I'm thinking it may have been a VW Beetle-based kit car.
Rob Hall Posted August 17, 2014 Posted August 17, 2014 (edited) Took a little day trip up north to Prescott, Jerome, Sedona, Oak Creek Canyon....saw a clean dark red '67 Camaro SS in Sedona, lots of motorcycle and RV traffic on the winding roads. Beautiful weather, beautiful scenery, great food. Hadn't been up there in a few years, couldn't believe how many rotaries are on the roads in and around Sedona. Edited August 17, 2014 by Rob Hall
bobthehobbyguy Posted August 17, 2014 Posted August 17, 2014 Saw a nice 67 or 68 camaro-hugger orange with a black vinyl top. Really looked clean.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now