Not trying to stir the pot, but the above theory didn't work to well in '07 did it?
Recommended financing providers?
- Thread starter ROKRIG
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Not trying to stir the pot, but the above theory didn't work to well in '07 did it?
Cubby I pay cash for everything now. If I can't pay cash I do without. I am trading in 4 sleds so I only have to come up with the cash for the differences plus the cost of the Yami(my boys and I will have 5 sleds this year). I have 2 years left on my mortgage and a huge mortgage on the place I run my business out of but that is it. Not sure luck had much to do with my financial situation though. I have done the same thing in the same place(my business) for 25 years. I was 42 before I bought myself a brand new truck. Instead of buying expensive sports cars or a big boat I am buying sleds. Things could change for me in a heartbeat. If my income gets cut in half it can't bankrupt me if I have no debt. If I have to sell toys to get by I sell them. I just have been in a spot where I owed more than I could pay and it was miserable. Paying off debt(mostly business, but some personal) cured me of wanting to be in debt.
PJ you don't have to go on the attack just because you don't agree with what someone posts. You are the guy who spent 4 pages defending being on unemployment for 2 years. Obviously you didn't learn from that lesson but don't worry the rest of us will support you and your family if you lose this job too.
Paying down debt, saving for kids college, having an emergency fund, having a retirement plan, investing back into my businesses etc all has to come before toys IMHO. If you are a single young guy the only person who gets hurt if you over extend yourself is you(other than your creditors), but with a wife and kids I have to think differently.
PJ you don't have to go on the attack just because you don't agree with what someone posts. You are the guy who spent 4 pages defending being on unemployment for 2 years. Obviously you didn't learn from that lesson but don't worry the rest of us will support you and your family if you lose this job too.
Paying down debt, saving for kids college, having an emergency fund, having a retirement plan, investing back into my businesses etc all has to come before toys IMHO. If you are a single young guy the only person who gets hurt if you over extend yourself is you(other than your creditors), but with a wife and kids I have to think differently.
You didn't support me as$hole! If you can't find work, you can't find it. Pretty f*cking simple if you ask me. The thing with unemployment is that you pay into it by working. And I can guanrantee you that I didn't even come close to drawing what I paid in. I had some side jobs under the table and that kept my head above water. "Supporting" me would have meant that I got welfare, food stamps and Section 8 Housing. None of which I did. I restructured my mortgage to make it easier, but I made my payments and didn't go into default on anything. I didn't buy anything new and I haven't financed anything since then so what didn't I learn?
I'm paying off the debt, just takes a while. Ecspecially with a hypochondriac wife and a medical care system that makes lawyer fees look like pocket change. My retirement and stuff gets taken from my check before I get it. So you own your own business. Now I know how you pay cash for your toys. You "buy" them as write offs. Every sledder I know that owns his/her own business does that.
And FYI, it wasn't really 2 years. I got laid off in October 2008 and started working a real job again in April 2010. I tried to get a small seasonal business going but Colorado is a massive joke when trying to do that. The costs are insane. So under the table work is what I did.
money
The guy asked a question and look where it went WOW.
The guy asked a question and look where it went WOW.
I don't know how old the fellow who asked is. But if he's in his early to mid 20s it's hard to whip out cash to pay for a new sled. He's in the beginnings of his career and probably not making a whole lot yet. For an established individual in his late 40s to tell a kid if you dont have the cash you can't afford to play. That's not right nor a fair statement. Getting a loan is not a bad thing, prices of sleds have skyrocketed to the point that paying cash isn't a reality for most people. Doesn't make them losers either. It's a great place for a young man or woman to start their credit record. You cannot survive in this world without credit. Even if you aren't getting a loan your credit record is looked at by employers and insurance companies. You can't even buy a decent house for a fair price anymore. If a person has gotten to a point in his/her life that they can pay cash for an expensive toy then that's awesome. They obviously worked very hard to obtain that. But it's not easy. Life is expensive. Fuel is at an all time high. That right there is a major contributer to draining a paycheck. then there is housing, food, insurance. All at amplified costs. trucks and cars are expensive, too expensive for what you get. Buying a used machine is a headache. You don't knopw what'll happen but when it does you know that the repairs come out of your pocket. Buying new is the best choice, warranty will cover it. Now you can get a sled warranty for 3 years. If the sled doesn't need work in three years you got lucky.
So, the kid asked a question about FINANCING. Answer his question and quit flaming/preaching about paying cash. the large majority of people on this site can't pay cash but are more than likely good, honest hardworking people. Don't bring them down by making them feel that getting a loan is a bad thing. Banks and lenders have been around since the USA was born.
So, the kid asked a question about FINANCING. Answer his question and quit flaming/preaching about paying cash. the large majority of people on this site can't pay cash but are more than likely good, honest hardworking people. Don't bring them down by making them feel that getting a loan is a bad thing. Banks and lenders have been around since the USA was born.
K
Some of you all are throwing around the idea that only rich guys can pay with cash. What do you think of the idea that, perhaps, operating on cash only is one of THE REASONS that they have money? That the discipline required to choose between the rock crawler and the sled might indicate something about their overall attitude towards money/work. Just asking...
Jeb
Jeb
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As a young adult I gotta say that some key elements are missing to this conversation. First off, what is wrong with a year or 2 old sled? Is riding a brand new 2013 worth 4k over a 2012? I don't think I personally will ever buy a brand new sled ever because I'm not sure I could swallow losing 4-5k of value driving the dam thing outta the dealership. While I don't think cash is necessarily the only way to go, I think a lot of people my age are dam foolish for thinking they need to spend that additional 4-5k to have fun. They can have fun making payments, I will have fun on my paid off '09 for plenty of years to come(by the way I did pay cash).
You're buying from the wrong dealers if your paying 4-5k more for a 1 or 2 year old sled. IMO, it's the opposite, for the prices that I and my friends have snochecked new sleds, I'm not buying used.
This statement reminds me of a south park episode...
Though, when you say "help the econonomy" you really mean get it back to the unsustainable levels where it was fueled by debt, don't you?
AGREED!!!
Completely fricken Agree!! Seems like everyone around us are living in a house of cards...
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I am reading Atlas shrugged right now and this sounds like something one of the whiners would say. It isn't your fault is it...
That comment reminded me of this...
umm... yah, this is stupid. People over extend themselves using credit.
Nope, we have all that, just we live BELOW our means so that it is easy to save up and afford larger things. Obviously this is something that you don't understand, nor can comprehend. You need some Dave Ramsey in your life... lol
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I just looked back through this whole thread to make sure I didn't start anything, call anyone a name or belittle anyone. I didn't. I just gave the OP what I thought was good advice. Something I learned from experience, not from a book or a forum. Here's a kid just starting out who if he just saved up for the first new whatever he would have it d!cked for the rest of his life. Then you trade that toy in and only have to come up with 25% every two years and he is riding a new machine forever, not once. Same with a car. 4-5 years is just not that long of a time. I have been saving for my next truck since I paid off the current one, about 4 yeas now. Or not, who cares. Not my money. He or anyone else can do whatever they want.
PJ you are a bitter little man. Can't you just give your opinion without insulting anyone who doesn't share the same? And you are so math challenged and ignorant where finances are concerned. There is no way you paid enough into unemployment over your 20 year working life to even pay for 6 months let alone whatever changing length of time it is now. I do payroll, I know the numbers. And just so no one takes your illegal idea you can't legally write something off unless it has "legitimate business use". You can put anything you want on your tax return, but it better stand up under audit or the IRS will burn you.
PJ you are a bitter little man. Can't you just give your opinion without insulting anyone who doesn't share the same? And you are so math challenged and ignorant where finances are concerned. There is no way you paid enough into unemployment over your 20 year working life to even pay for 6 months let alone whatever changing length of time it is now. I do payroll, I know the numbers. And just so no one takes your illegal idea you can't legally write something off unless it has "legitimate business use". You can put anything you want on your tax return, but it better stand up under audit or the IRS will burn you.
The bank seemed very understanding when I told them I needed to slide a few house payments because the new sled was coming soon....what's the big deal? :face-icon-small-win
MM said that he has been saving for his new truck since he paid off the other one, I started doing the same thing since I paid off my wife's other car. I had an automatic withdrawal for the pmt at my credit union and when the car was paid off, I kept that allotment being taken out of my regular account and that money now goes into a seperate account every month. I don't miss it out of my regular checking account and over time, it adds up to thousands of dollars.
Is there no middle ground?
Either you pay cash for everything and earn it and deserve it...or your an over extended uneducated loser who cannot afford to pay his home mortgage because he has a 200$ sled payment?
Either you pay cash for everything and earn it and deserve it...or your an over extended uneducated loser who cannot afford to pay his home mortgage because he has a 200$ sled payment?
I do both. I save some money to pay cash for alot of things, my car, my wife's car, but my truck was just more convienent to finance and still allow me to leave a comfortable amount in the bank. With rates as low as they are, it's not too bad to finance a little bit here and there.
Now, if we were talking 20 years ago, when mortgages were 10% higher than today......
I see nothing wrong with financing certain things at all. I sell home improvements that make a house worth more, save people money on their heating and cooling bills, and need to be replaced anyways. IMO it totally makes sence to purchase now, they can get what they want and need now and avoid inflation costs at the same time.
Now, if we were talking 20 years ago, when mortgages were 10% higher than today......
I see nothing wrong with financing certain things at all. I sell home improvements that make a house worth more, save people money on their heating and cooling bills, and need to be replaced anyways. IMO it totally makes sence to purchase now, they can get what they want and need now and avoid inflation costs at the same time.
Ok just so everyone knows I have no hard feelings towards anyone on this thread nor on this forum. I have spoke my .02 and I THINK most of us can see the smart thing to do in our own lifes with out someone holding our hands, and if not I guess those ones will learn the hard way like some of us others have.
Long story short I hope everyone has a good and safe season no matter if it's on a 2013 hype machine or a 1992 polaris indy 340 modded out to the max!!!!:bounce:
Long story short I hope everyone has a good and safe season no matter if it's on a 2013 hype machine or a 1992 polaris indy 340 modded out to the max!!!!:bounce:
And here I was just asking where people recommend for reasonable financing on sleds... (not whether I should finance some of the sled).
Not to give too much info but I'm over 30 yrs old and have worked at the same company for more than 13 yrs. I live comfortably but not flashy. My money tends to go to expensive things that I know will get used a lot. There's no way I'd be able to do the things I want to do w/ up-front cash only purchasing unless I were to wait until I was too old to enjoy the stuff. Sheesh, I've probably got about $40K into my rockcrawler and my coming upgrades will probably be another $10K (before factoring in labor). My tow rig is also my daily driver so yes, I wanted a nice one. My trailer is going to be multi-purpose. I live 1-1.5 hours from work so my mortgage is VERY reasonable for a 'new-when-purchased' house. I eat sandwiches most days of the week as well
Like some have reflected, it's not always easy to come up with a BIG chunk of change when you are distributing your income to multiple costly endeavors.
Nevertheless, there are a lot of valid points being made and as a newby, I'm glad I could start a thread that has yielded so much conversation.
I'm really looking forward to meeting several of you in the coming months and years.
Terry
Not to give too much info but I'm over 30 yrs old and have worked at the same company for more than 13 yrs. I live comfortably but not flashy. My money tends to go to expensive things that I know will get used a lot. There's no way I'd be able to do the things I want to do w/ up-front cash only purchasing unless I were to wait until I was too old to enjoy the stuff. Sheesh, I've probably got about $40K into my rockcrawler and my coming upgrades will probably be another $10K (before factoring in labor). My tow rig is also my daily driver so yes, I wanted a nice one. My trailer is going to be multi-purpose. I live 1-1.5 hours from work so my mortgage is VERY reasonable for a 'new-when-purchased' house. I eat sandwiches most days of the week as well
Like some have reflected, it's not always easy to come up with a BIG chunk of change when you are distributing your income to multiple costly endeavors.
Nevertheless, there are a lot of valid points being made and as a newby, I'm glad I could start a thread that has yielded so much conversation.
I'm really looking forward to meeting several of you in the coming months and years.
Terry
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Just talked to Sheffield and they've got 3.9% for 3 yrs. The guy also mentioned a promotion w/ Skidoo (0/0/0 for 6 months). He wasn't sure if that would go into next month or not so I'll probably just check back at the beginning of November.
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