Tro209

To by a cheap daily beater?? Not really. It was only $3k lol. That's not even close to how much he could have taken out

semnosNSX

If he didn't have at least $3k in the bank to buy a "cheap beater" (without refinanceing) that's an entirely different issue.

Tro209

It wasn't a matter of not being able to afford a $3k car, just more of a hey look we have extra money to do whatever we want, I know! Let's buy a car!! Lol.

Regardless they didn't just buy a car they took some money out for more important things like stuff for their new baby on the way, some money for a vacation etc.. What does it matter to you how he spends his money anyway?? Just because some one doesn't want to invest everything they earn on something that's an "appreciating" asset doesn't mean what they do is wrong. There is nothing wrong with having fun with your money. Obviously don't go broke buying pointless stupid things but come on now. You make it seem like it's the worst thing in the world that he did that.

How you ever refinanced? Where did your money go?? Because you sure sound like you got life figured out since you seem to be awfully critical about everyone's decision. And yeah if you can't tell, your post comes off as offensive to me. You make it seem like he's broke and stupid.

jspecvtec

iTrader: (4)

He's probably smart and refinanced for an all time low interest rate with no closing cost, thus reducing his monthly mortgage payment and saved tens of thousands in the long run. Maybe he felt like since he saved so much money he'll mess around by buying a cheap 3k LS beater...so who knows maybe u thought it was a bad idea but in reality it was good lol

F_Throttle

It really comes down to your credit worthiness.. Even if you think you're getting a lower interest rate (because of your house is on the line), that interest is compounded 15/30 yrs rather than 6 on a standard car loan.

(extreme) ex: $1K int on $3K borrowd (10%/72months) vs. $1500 int on $3K refinanced (3%360months)

jspecvtec

iTrader: (4)

Yeah, thus saving much more in the long run on a house if U can get a lower interest rate

Tro209

I still don't get why were discussing Homes on a car forum. This thread = Fail

semnosNSX

You're 100% correct... it is his money and he should be able to do whatever he wants with it.

And yes, I have refinanced. Matter of fact, I just did it two months ago. I took advantage of the low interest rates and refinanced my house so that I could drop the term from a 30 year fixed to a 20 year fixed. And no, I didn't take money out on the equity.

Best of luck getting an ISF. I'm done.

geero

iTrader: (2)

i think its best to lay this thread to rest. plenty of advice given. pick and choose and best of luck

Tro209

Yes, I've been trying to either get it back on topic or have it die. But everyone insists on talking about home loans and other unrelated things that have almost nothing to do with the topic. Anyway I've got my advice, my 350 is done and I'm moving up

Your advice is appreciated but you made it seem like it's wrong to do something different. Anyway thanks.

MileHIFcar

Agreed this post has been beating a dead horse for a while OP I think you've made your mind up and there's probably not much else you can gain from this thread?

Mods please close

Tro209

Yes this thread became useless about 50 posts ago... My mind was made up after about the first 5 guys hahaha.

Mods please close this thread !!!!!

MileHIFcar

Cool, let us know when you get your F!

Tro209

Will do!!