Ontopic Money Thread

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maximum lame
Apr 15, 2013
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Because the mods here can't handle doing mod stuff. Discuss money shit here.

Ape, you are wacky with your ideas.
 
Oh that's not true. A single person saving for a home, living frugally does happen, can be done. Paying cash, I mean.

Yeah, there are always anomalies, but this is not a common practice.
You already said it. People generally don't want to live like that. However, because they don't want to live like that does not mean they cannot.

There's a difference in "can't" and "don't want to"

And this is why I didn't say "you can't do it".
 
I have friends who live like this as much as possible and I try to as well now. However some of them have run into problems trying to buy property and vehicles where the companies they are dealing with almost force them to use credit / financing for whatever they are buying. I had a friend recently try to buy a brand new truck with cash at a Chevy dealership. They ended up not selling to him, the wanted him to finance and wouldn't sell him the truck.
 
I have friends who live like this as much as possible and I try to as well now. However some of them have run into problems trying to buy property and vehicles where the companies they are dealing with almost force them to use credit / financing for whatever they are buying. I had a friend recently try to buy a brand new truck with cash at a Chevy dealership. They ended up not selling to him, the wanted him to finance and wouldn't sell him the truck.

Thats fucked. They must be getting a kickback from whatever bank they're forcing you to use. Or worse yet, they're a buy here/pay here place.
 
Thats fucked. They must be getting a kickback from whatever bank they're forcing you to use. Or worse yet, they're a buy here/pay here place.
It was a large dealership here in town, not a Mom and pop used car place. They were running a special on Silverados I believe and they talked about the cheap financing in the ad. Well, he had the money to just walk in and buy the truck with cash and when he went to do it they wouldn't. They kept insisting he take advantage of the special financing and he kept saying no, I have no need to. I have the money, here's your 20 grand or whatever, give me my truck, and they finally came out and said if you won't finance we won't sell. So he ended buying a slighty used vehicle somewhere else.
 
It was a large dealership here in town, not a Mom and pop used car place. They were running a special on Silverados I believe and they talked about the cheap financing in the ad. Well, he had the money to just walk in and buy the truck with cash and when he went to do it they wouldn't. They kept insisting he take advantage of the special financing and he kept saying no, I have no need to. I have the money, here's your 20 grand or whatever, give me my truck, and they finally came out and said if you won't finance we won't sell. So he ended buying a slighty used vehicle somewhere else.
That's bullshit. How can they force you to finance something?
 
That's bullshit. How can they force you to finance something?

Probably because someone got some kind of kickbacks from the bank. A lot of car dealerships make almost nothing on selling cars now, and all of their profits come from service and financing deals.

Don't make it right, nor smart, but it is what it is.
 
Probably because someone got some kind of kickbacks from the bank. A lot of car dealerships make almost nothing on selling cars now, and all of their profits come from service and financing deals.

Don't make it right, nor smart, but it is what it is.
That's basically what they told him without coming right out and telling him.
 
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So finance it, and pay it all off on the first payment. There's usually no penalties or fees for doing that. So as long as that stands might as well do it.
 
If they're making a killing on the financing, why sell any inventory to a guy who wants to pay cash when you know you can make more money telling him no and waiting for someone else to walk in later that day and finance?
I get that, I don't get why they would turn away a customer who was ready to buy. It just seems like poor business practice.
 
So finance it, and pay it all off on the first payment. There's usually no penalties or fees for doing that. So as long as that stands might as well do it.
A lot of the places that do this stuff now finance at some low APR, but tack on a finance charge of some money "per $1000 financed". It's a bunch of shit, but it gets rubes in the door.
 
So finance it, and pay it all off on the first payment. There's usually no penalties or fees for doing that. So as long as that stands might as well do it.
There was some fee to do that with the way the financing was set up. Like has been posted it was basically a way for the dealership to get some kind of kick back from the bank or whoever was doing the financing.