I laughed at all the 392 buyers! 😥 what a dummy.

[Young04]

Way too much. I would only buy the 392 if made around 500k a year. 400k I would consider. I couldnt buy it cash right now, I just bought a house and a baby so I am cash strained. I also only started making real money 2 years ago. I could easily afford it with a loan though, but with the volatility of todays economy thatd be dumb. I am happy with my customized sport that I actually own and serves me 100%. I dont get it how these people go into debt to buy these cars over 60k and they dont even make over 6 figures, or make just a tad over 6. The freaking rat race.

Again. To each their own.

I subscribe to your thinking - for any vehicle over $60K or so, if you cannot cut a single check for it without it hurting, you shouldn't be buying it. Now, one may have other reasons to finance or lease, but you should still have to wherewithal to buy it outright easily.

However, I also recognize that if everyone were that conservative and hoarded their cash, the economy would could very well stagnate.

RE: my first point - to each their own. That is just my personal view. I do not really care how others spend their money.

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[SoCal]

I subscribe to your thinking - for any vehicle over $60K or so, if you cannot cut a single check for it without it hurting, you shouldn't be buying it. Now, one may have other reasons to finance or lease, but you should still have to wherewithal to buy it outright easily.

However, I also recognize that if everyone were that conservative and hoarded their cash, the economy would could very well stagnate.

RE: my first point - to each their own. That is just my personal view. I do not really care how others spend their money.

not saying you are saying this but....Not too many people have $60K laying around and why would you want to cut a check for that amount of money if you did anyway?

Most people just take advantage of the low interest rates and let their extra money make at least 5 times the interest that you would be paying on a loan in the stock market or other investments these days.

Car manufacturers would be out of business if buyers waited til they saved enough money to pay in full for cars....and the economy would be a wreck to say the least

 

[SoCal]

If I had an $85K budget for my next Jeep.....I'd buy a $55K JLUR and spend the extra $30K on some toys to pull behind it(See doos, Razor, boat, trailer, etc) or just mod the hell out of it

but that's just me

 

[entropy]

not saying you are saying this but....Not too many people have $60K laying around and why would you want to cut a check for that amount of money if you did anyway?

Most people just take advantage of the low interest rates and let their extra money make at least 5 times the interest that you would be paying on a loan in the stock market or other investments these days.

Car manufacturers would be out of business if buyers waited til they saved enough money to pay in full for cars....and the economy would be a wreck to say the least

You save the 60k and you invest it in the stock market and buy the jeep. Thats the best way to buy any car. But almost nobody does this, because most people buying 60k vehicles dont have that much money saved.

I did this when I bought my other car. Not 60k and Google is paying my car payments basically lol. The Jeep I bought cash cause I was dumb.

Life is short though. It is ok to be financially irresponsible sometimes imo.

 

[SoCal]

You save the 60k and you invest it in the stock market and buy the jeep. Thats the best way to buy any car. But almost nobody does this, because most people buying 60k vehicles dont have that much money saved.

I did this when I bought my other car. Not 60k and Google is paying my car payments basically lol. The Jeep I bought cash cause I was dumb.

Life is short though. It is ok to be financially irresponsible sometimes imo.

haha...yup! YOLO is a real thing....you never seen a hearse pulling a U-Haul

 

[Jeep4Win]

You are not a dummy. The 392 has speed restrictions like a U-Haul rental.

 

[wildallways]

I subscribe to your thinking - for any vehicle over $60K or so, if you cannot cut a single check for it without it hurting, you shouldn't be buying it. Now, one may have other reasons to finance or lease, but you should still have to wherewithal to buy it outright easily.

However, I also recognize that if everyone were that conservative and hoarded their cash, the economy would could very well stagnate.

RE: my first point - to each their own. That is just my personal view. I do not really care how others spend their money.

I could write a check for it. However, i can finance it at 2.9% or lower. Heck, I could even go 36 months at 0% through Chrysler Financing. But it doesn't make sense to write a check for the purchase price when the rate of return on my 401K is over 13%.

 

[Young04]

.

I could write a check for it. However, i can finance it at 2.9% or lower. Heck, I could even go 36 months at 0% through Chrysler Financing. But it doesn't make sense to write a check for the purchase price when the rate of return on my 401K is over 13%.

I think what you and I said are entirely consistent. But my experience, for whatever it is worth, is that the truly wealthy tend to buy cars with cash.

 

[Mtpockets]

I could write a check for it. However, i can finance it at 2.9% or lower. Heck, I could even go 36 months at 0% through Chrysler Financing. But it doesn't make sense to write a check for the purchase price when the rate of return on my 401K is over 13%.

Do you make a 13% return on your money per month? Or per year?

 

[RubiSc0tt]

I would spend $75k on a new 392 if it came with D60s, lockers and a 4:1 transfer case. It doesn't. I'm not buying an overpriced JL that I have to put another $25k in to keep from breaking things because of the extra torque.

that's kinda where my head is at. I wanted one real bad, and they are impressive machines- but I want the Rubi 4:1 case and axles that I don't need to worry about trashing.

It's all based upon debt. I have never seen so many brand new $80k diesel trucks, toy haulers, side by sides, etc., in my life. Think all of these people are paying cash? I don't. I have heard stories from friends about people who have all the toys but can't afford to really use them. I think there's going to be a lot of deals in used toys in the coming years.

No way, they'll ride that horse into their grave, bitching and complaining they're always short on money the entire time but never thinking maybe they should reduce/ simplify. It's a mentality that rarely changes. My dad was this way: Noted out with all the toys, credit cards were always maxed, always complained he didn't have the time/ money and that he was in debt- but never ever attempted to stop spending, or get smart with paying things off. Some may get smart, and I've seen enough people take the initiative through several groups I'm in that deal with personal finance discussions- but there are far more i see repeating this pattern. It's something i have to remind myself every single time I start dreaming about ANOTHER Jeep or ANOTHER project or V8 swapping my current Jeep.

There are some really disturbing things going on these days. I know a gal who works in job placement. She told me of a young guy who lost his job, qualified for unemployment and the extra amount the government is kicking in, then went out and bought a brand new truck and some sort of ATV. Then, a few months later his job called him back but he didn't want to go because he was making more on unemployment and wouldn't be able to pay all his bills. This stuff is nuts. I didn't even know it was possible to buy a new vehicle on unemployment.

Not to get too off topic:
It varies state to state and financial institutions. I know with my credit union they want at least 2 months of proof of employment for ANY loan. Having been downsized and being on unemployment for the majority of 2017, I highly doubt this is the entire story.

Also: Making more on unemployment is a sign that your current/ previous jobs are not in touch with the going rate, or in some cases, living wages. There are a lot of places that are really out of touch with this and love to blame the people they laid off at the beginning of this shit show, but honestly? it's on them. I was offered a warehouse job for $13/hr and there was some bullshit conditions with it. It would have cost me money to get there 40 hours a week. I turned it down, and 2 weeks later I was hired on the spot by my current gig for $17/hr (still low) as a contractor, and then hired in house for $21. That was 2018, and while this job has been tough, and an adjustment: it's way more promising with far more potential than the warehouse job. Sometimes you need to take some extra time to make the right choice for your future, so you won't end up on unemployment again.
Just some perspective from someone who lived it. oh, and BTW: It was absolutely horrible. New dad and husband, could not find work in my field, absolutely crushing to wake up every day and take care of my kid knowing I was contributing very little. Taking that check every week kept us afloat but it was definitely a "swallow your pride" kick in the dick.

 

[RGardnerDC]

I noticed in my life when people/I couldn't afford to buy something they/I wouldn't hesitate to put it on credit. Somehow possessing something, even if someone else owned it, made them/me feel better. When they/I became financially stable, the desire changed. I can now afford it and buy it anytime I want, so I'm not that interested.

I spent my life as a service provider in very wealthy communities of southern and northern California. I can testify that the more money "most" people have the more frugal they are.
Most of my wealthiest clients were cheap bastards. The only time I would give them an appointment was when I had no work. My most gracious clients could barely afford me and ALWAYS left a generous tip!! I worked twice as long and twice as hard on them as we were cut from the same cloth.

The guy who mentioned that if it wasn't for credit, our economy would collapse, was spot on IMO.

The guy who mentioned using someone else's money if the interest rates are in your favor was also spot on.

The guy who referenced a point related to hedonism was also on the mark. We only live once!

I say buy whatever makes you happy. I hope the last check I write bounces!!

 

[word302]

The non 392 can run $65k plus....

Yeah but anybody who’s paying that is a fool. I paid 46k for my loaded 2019 JLUR.

 

[word302]

I subscribe to your thinking - for any vehicle over $60K or so, if you cannot cut a single check for it without it hurting, you shouldn't be buying it. Now, one may have other reasons to finance or lease, but you should still have to wherewithal to buy it outright easily.

However, I also recognize that if everyone were that conservative and hoarded their cash, the economy would could very well stagnate.

RE: my first point - to each their own. That is just my personal view. I do not really care how others spend their money.

Meh, my money makes more for me than the interest in paying on the Jeep. I’ll have it paid off after 3 years with minimal interest.

 

[CpT Papa]

Drive around with your boat on a hitch behind a 392.
Two Birds<stone

I would have to buy a trailer. No cash left over after the 392 and I have save for gas. Taking the wife out to McDonald's for mothers day.

 

[Richtor]

Yeah but anybody who’s paying that is a fool. I paid 46k for my loaded 2019 JLUR.

Msrp?

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