What's new
By:
Filters

How hard is inflation going to hit, or has hit?

clodhopper said:
You can quit trying to apply that bullchit around here. Even Alinsky will tell you to apply the rules on people who are opposed to your plans. Go ride that crap on the progressive boards you frequent.
Click to expand...
I’m not going to argue with you. I was simply pointing out that you are in a way enabling them.
You be you
 
TRINDU said:
I'm starting to understand the process. Maybe I misinterpreted what you wrote, but it's not a simple as leasing a 75k car for $400/m then 'making' money on top. Rinse and repeat.

One thing I will sink my heels in is, it's not a lease. It's baloon lending. Would you happen to know the APR, or money factor regarding a lease, on those terms?

You're merely financing the short term and by design, some may argue getting lucky, that the vehicle retains exceptional value and doesnt tank.

Did you start out this endeavour by putting a hefty amount down? Possibly trading in a paid off car?

You pay TT&L based off the full purchase price? Or just the amount for your term?
Click to expand...

The last rate I can find is 2.99. which was higher than previous years.

Yes. Lets call it short term lending then. Every year AFG has a list of predicted residual values. I call them and say I need a truck, sports car, SUV etc. Give me the top 3 residual values on your list. Then I only look at those cars to go get. If it is not on the top of their predictions, I don't get it. I am using their expert predictions and gambling based on that.

I am trying to go from memory on the flow of how it started. I had bought an F250 lariat used $12000 maybe? Traded it in on a new Crew 2014 2500 Ram AFG for something less than or around $400/mo. Then I AFG-ed a Subaru WRX Sti when the new body style came out in that time period for something in the low $300's a month. So I had 2. When I traded the 2014 Crew in, in 2016 on a LTZ3500, I owed $15,000 less on the Ram than the trade in value - it was crazy and probably the catalyst(see below because I am in that boat again). The LTZ had 6000 miles on it, PO had it 5 months. Then I had a LTZ for $427 a month. Traded the LTZ in 2018 after 24 months on a Ram Limited 2500, etc. Something changed right here, the prices started going up. I have emails between a friend and I discussing how his Denali payments were like $400 a month and AFG wanted $800 a month for a new one, he had one 18 months and wanted to trade it in. The WRX was traded in for a Limited 4 runner. I picked up $5000ish for the down payment on the 4 runner. The 4 runner I traded in for $34,000 when I owned AFG $29,000. on the VW Atlas (which I bought not AFGed, it was a pile)

So for years I have had nice vehicles on very low payments considering what they were. I just bought the Land Rover Defender and wanted to own it so that is costing me like $1100 a month on 0% interest.

Could I buy any of these cash and keep it, Yes. but shit rusts out here by year 3 the body has rust spots. This is the rust best, salt destroys vehicles. They are terrible to work on, bolts round and break, the brake lines rust out etc. Owning a vehicle here in NY does not get you years of having a nice car, year 3 the rusting has started. I would rather drive nice new vehicles under warranty and go to the next one, than own a 6 year old rusted pile with holes in the exhaust and a rust line around the bumpers and fenders

Today
I owe $43,065 on the 2018 Ram

KBB Trade in value is, $59,500 - $65,000

The Ram is the longest I have owned a vehicle in years. Based on what I see today, I might go run numbers on dumping it next week for a new one. If I can get $60k for it on trade in, that is $60k in taxes I don't have to pay and I will pick up a new record of $17,000 for the next down payment. So I will ask you... Whats a Limited Mega cab 2500 with ram box and tanneuo worth on trade in?
 
So we went from “you can lease a $75,000 vehicle for $300-$420 per month and trade it in every 2 years and make enough on equity to cover taxes and all other associated cost on your new one. Hell, I traded in multiple leases last month and made 6-15k”

to a confusing story about a truck I presume you owned that you gave as a down payment for a truck, a separate car, truck, 2 loans at once, one loan magically disappeared, or didn’t, to paying $1100 on a vehicle that you said would cost $300-$420.

And you also live in magic land where vehicles rust out after 3 years, but their value is the same or close to what it was when new.

You’re a bullshitter bud. You claimed a life of luxury vehicles for the past dozen years and list a used f250, used Ltz and a Subaru
 
Last edited:
montrose818 said:
why did you want to own thr new defender?
Click to expand...
my kids are the age where they will need a car in 6 years. I'd rather have them in a 4cyl 4x4. I was going to look at 4cyl jeeps but... maybe this will work. So at 0% the money was free to loan.
 
figures you can't ignore trolling moderators. I am not even reading the petty clown's responses so I guess this will work. Maybe Austin will change it so this loser can join evernoob on the ignore list.
 
Rockbuggy84 said:
So we went from “you can lease a $75,000 vehicle for $300-$420 per month and trade it in every 2 years and make enough on equity to cover taxes and all other associated cost on your new one. Hell, I traded in multiple leases last month and made 6-15k”

to a confusing story about a truck I presume you owned that you gave as a down payment for a truck, a separate car, truck, 2 loans at once, one loan magically disappeared, or didn’t, to paying $1100 on a vehicle that you said would cost $300-$420.

And you also live in magic land where vehicles rust out after 3 years, but their value is the same or close to what it was when new.

You’re a bullshitter bud. You claimed a life of luxury vehicles for the past dozen years and list a used f250, used Ltz and a Subaru
Click to expand...
All the while, making payments on shit he never actually "Owned", from what I gather
 
Poke said:
figures you can't ignore trolling moderators. I am not even reading the petty clown's responses so I guess this will work. Maybe Austin will change it so this loser can join evernoob on the ignore list.
Click to expand...
What does being a moderator have to do with calling you out as a complete liar?

Go and reread all your post in this thread. You’re a condescending prick and came in on your high horse to tell everyone how superior you are to try and make yourself feel better. You made shit up as you went along that in your last post, completely contradicts all of it

You made up so much bullshit it’s embarrassing and now you’re a butthurt little boy because I’ve pointed it out and you’re crying like a child.

This is not trolling and my moderator status is irrelevant. I’m not editing your post, threatening bans, fuck, I never even mentioned that I’m a moderator. You simply made up a lot of bullshit on a public forum and someone called you out. Get over it.
 

Attachments

  • image_c89c2380-fb10-41a2-a738-8892f379f600_2048x.jpg
    image_c89c2380-fb10-41a2-a738-8892f379f600_2048x.jpg
    46.3 KB · Views: 25
Rockbuggy84 said:
So we went from “you can lease a $75,000 vehicle for $300-$420 per month and trade it in every 2 years and make enough on equity to cover taxes and all other associated cost on your new one. Hell, I traded in multiple leases last month and made 6-15k”

to a confusing story about a truck I presume you owned that you gave as a down payment for a truck, a separate car, truck, 2 loans at once, one loan magically disappeared, or didn’t, to paying $1100 on a vehicle that you said would cost $300-$420.

And you also live in magic land where vehicles rust out after 3 years, but their value is the same or close to what it was when new.

You’re a bullshitter bud. You claimed a life of luxury vehicles for the past dozen years and list a used f250, used Ltz and a Subaru
Click to expand...
I am $17,000 up minimum on my current truck, market value over amount owned. And I gave 3 other examples of the same thing being the case in the last few years. So your first part is you trolling and or failing reading comprehension.

When did I say the land rover would cost 300-420? I didn't. I specifically stated something changed with AFG and the prices were up. So once again you are trolling or failing at reading comprehension.

I said vehicles start rusting at 3 years and that is a fact. I didn't say they rust out. So once again you are trolling or failing at reading comprehension.

I never said rusted out vehicles hold same value as new. you are making shit up to troll me.

your 4th statement. I never used the work luxury. I said loaded or special edition. Keeping making shit up, notice a pattern there fella?

Your entire whiny cry fest is you making shit up, ignoring the written word in front of you, and then using your made up statements mixed with your ignorance to throw insults at me.

And as I noted, I learned I cannot block a moderator. So I tried to skim over it but have to call you out on your lies, bullshit, and trolling. As a moderator I assume you guys should be held to some standard over lying troll, but I guess not.
 
Poke said:
I am $17,000 up minimum on my current truck, market value over amount owned. And I gave 3 other examples of the same thing being the case in the last few years. So your first part is you trolling and or failing reading comprehension.

When did I say the land rover would cost 300-420? I didn't. I specifically stated something changed with AFG and the prices were up. So once again you are trolling or failing at reading comprehension.

I said vehicles start rusting at 3 years and that is a fact. I didn't say they rust out. So once again you are trolling or failing at reading comprehension.

I never said rusted out vehicles hold same value as new. you are making shit up to troll me.

your 4th statement. I never used the work luxury. I said loaded or special edition. Keeping making shit up, notice a pattern there fella?

Your entire whiny cry fest is you making shit up, ignoring the written word in front of you, and then using your made up statements mixed with your ignorance to throw insults at me.

And as I noted, I learned I cannot block a moderator. So I tried to skim over it but have to call you out on your lies, bullshit, and trolling. As a moderator I assume you guys should be held to some standard over lying troll, but I guess not.
Click to expand...
I have to ask. Do you really believe all the bullshit that you spew? Instead of saying “yeah, maybe I exaggerated a little” you’ve double down in your bullshit.

We’ll ignore all the stories and bullshit and go straight back to your original point.

Show us all where you can lease a new $75,000 vehicle for $300-$420 per month. And then, at year 2-3,(with rust starting to appear based on your own admission) trade it in for another, turn a profit to cover the extra cost for another brand new $75,000 vehicle.

That was the statement you made. Said you’ve been doing it for over a dozen years, yet you listed a $12,000 f250, a Subaru, ram pickup and a used LTZ. The only vehicle in the $75,000 range is your rover and you said it’s $1100 per month.
 
Rockbuggy84 said:
I have to ask. Do you really believe all the bullshit that you spew? Instead of saying “yeah, maybe I exaggerated a little” you’ve double down in your bullshit.

We’ll ignore all the stories and bullshit and go straight back to your original point.

Show us all where you can lease a new $75,000 vehicle for $300-$420 per month. And then, at year 2-3,(with rust starting to appear based on your own admission) trade it in for another, turn a profit to cover the extra cost for another brand new $75,000 vehicle.

That was the statement you made. Said you’ve been doing it for over a dozen years, yet you listed a $12,000 f250, a Subaru, ram pickup and a used LTZ. The only vehicle in the $75,000 range is your rover and you said it’s $1100 per month.
Click to expand...
And, Poke,
While I'm just a pee-on here, and have no "cred", you haven't addressed any of my questions. They are the same as RB's. You've touted a lot of shit, but HAVE NOT backed it up with tangible evidence
 
Poke said:
The last rate I can find is 2.99. which was higher than previous years.

Yes. Lets call it short term lending then. Every year AFG has a list of predicted residual values. I call them and say I need a truck, sports car, SUV etc. Give me the top 3 residual values on your list. Then I only look at those cars to go get. If it is not on the top of their predictions, I don't get it. I am using their expert predictions and gambling based on that.

I am trying to go from memory on the flow of how it started. I had bought an F250 lariat used $12000 maybe? Traded it in on a new Crew 2014 2500 Ram AFG for something less than or around $400/mo. Then I AFG-ed a Subaru WRX Sti when the new body style came out in that time period for something in the low $300's a month. So I had 2. When I traded the 2014 Crew in, in 2016 on a LTZ3500, I owed $15,000 less on the Ram than the trade in value - it was crazy and probably the catalyst(see below because I am in that boat again). The LTZ had 6000 miles on it, PO had it 5 months. Then I had a LTZ for $427 a month. Traded the LTZ in 2018 after 24 months on a Ram Limited 2500, etc. Something changed right here, the prices started going up. I have emails between a friend and I discussing how his Denali payments were like $400 a month and AFG wanted $800 a month for a new one, he had one 18 months and wanted to trade it in. The WRX was traded in for a Limited 4 runner. I picked up $5000ish for the down payment on the 4 runner. The 4 runner I traded in for $34,000 when I owned AFG $29,000. on the VW Atlas (which I bought not AFGed, it was a pile)

So for years I have had nice vehicles on very low payments considering what they were. I just bought the Land Rover Defender and wanted to own it so that is costing me like $1100 a month on 0% interest.

Could I buy any of these cash and keep it, Yes. but shit rusts out here by year 3 the body has rust spots. This is the rust best, salt destroys vehicles. They are terrible to work on, bolts round and break, the brake lines rust out etc. Owning a vehicle here in NY does not get you years of having a nice car, year 3 the rusting has started. I would rather drive nice new vehicles under warranty and go to the next one, than own a 6 year old rusted pile with holes in the exhaust and a rust line around the bumpers and fenders

Today
I owe $43,065 on the 2018 Ram

KBB Trade in value is, $59,500 - $65,000

The Ram is the longest I have owned a vehicle in years. Based on what I see today, I might go run numbers on dumping it next week for a new one. If I can get $60k for it on trade in, that is $60k in taxes I don't have to pay and I will pick up a new record of $17,000 for the next down payment. So I will ask you... Whats a Limited Mega cab 2500 with ram box and tanneuo worth on trade in?
Click to expand...

I didnt need the whole story, but it helps better paint the picture. IMHO, it's a far cry from your first claim of leasing and making money, but it works for you. It's just short term lending and you threw some money in up front to keep your payments low. No different than having a big down payment on a new car and playing the game right. You're just playing it a little different.

No fucking way I'd play your game, but my 20+ y/o vehicles are rust free and clean as the day they left the factory. Rust belt logic is beyond me.
 
Bogus One said:
And, Poke,
While I'm just a pee-on here, and have no "cred", you haven't addressed any of my questions. They are the same as RB's. You've touted a lot of shit, but HAVE NOT backed it up with tangible evidence
Click to expand...
Honestly, at this point, I kinda feel bad for the guy. He seems very egotistical and needs to tell everyone how amazing he is and can’t handle it when people call him out. I think he purposefully misinterpreted the story and didn’t realize how ridiculous it sounds.

I’m “reading between the lines” and If I’ve pieced this whole shit show together, it was that he traded in an f250 that he owned and traded it in for a leased vehicle. This gave him instant equity in the leased(but not actually leased vehicle. It sounds like a lender).

He made a couple smart trades that kept the majority of his original equity. A vehicle or 2 were used and he got them for a good deal, he then added a little to his original equity.
 
Holy fuck, back on topic.

im here for the financial advice and pre bubble burst investment ideas.

I don’t have any concrete plans yet other than Doge To The Moooooon!!!!! :flipoff2:
 
TRINDU said:
No fucking way I'd play your game, but my 20+ y/o vehicles are rust free and clean as the day they left the factory. Rust belt logic is beyond me.
Click to expand...

Just to stir the pot, why not? What makes it so scary? I mean is someone going to come in the middle of the night, hold a gun to your head and rape your wife? I don't think so. At most they repo the vehicle and your credit takes a hit. Even if the economy collapses there is a good chance the lender may work with you to try to get some money out of the vehicle vs trying to sell it for pennies on the dollar.

It sounds like in Poke's situation that he has at least been able to increase his down payment with every new deal. I'd imagine if he could keep it going that eventually he could just pay cash for something. I've often wondered if I could do something similar in the jeep market seeing how retarded that market is right now.

I'd be interested to hear from Poke on his concerns with this method of financing if any?

Kevin
 
Rockbuggy84 said:
Honestly, at this point, I kinda feel bad for the guy. He seems very egotistical and needs to tell everyone how amazing he is and can’t handle it when people call him out. I think he purposefully misinterpreted the story and didn’t realize how ridiculous it sounds.

I’m “reading between the lines” and If I’ve pieced this whole shit show together, it was that he traded in an f250 that he owned and traded it in for a leased vehicle. This gave him instant equity in the leased(but not actually leased vehicle. It sounds like a lender).

He made a couple smart trades that kept the majority of his original equity. A vehicle or 2 were used and he got them for a good deal, he then added a little to his original equity.
Click to expand...
I think he believes he's making money and we are dumb for not seeing it.

I can't follow it, but I blame it on my ADD.

I also always ask myself "Does this sound like something a car company would support"?

Would they structure a deal in a manner where I came out on top?

I just don't believe any corporation is generous by nature, but I have been called a cynical in the past.
 
Interestingly enough there are new f150s on ebay a solid 5k less then kbb trade in if they had 5k miles on them. Im considering trying to buy a new f150 to drive till my bronco shows up and pulling a "Poke"
 
Ghetto Fab. said:
Just to stir the pot, why not? What makes it so scary? I mean is someone going to come in the middle of the night, hold a gun to your head and rape your wife? I don't think so. At most they repo the vehicle and your credit takes a hit. Even if the economy collapses there is a good chance the lender may work with you to try to get some money out of the vehicle vs trying to sell it for pennies on the dollar.

It sounds like in Poke's situation that he has at least been able to increase his down payment with every new deal. I'd imagine if he could keep it going that eventually he could just pay cash for something. I've often wondered if I could do something similar in the jeep market seeing how retarded that market is right now.

I'd be interested to hear from Poke on his concerns with this method of financing if any?

Kevin
Click to expand...
My concerns?

AFG being wrong and having a value under the balloon payment, then I would have to turn a car in and start over. They only charge $0.10 for mileage overages so that’s not a big deal.
 
Ghetto Fab. said:
It sounds like in Poke's situation that he has at least been able to increase his down payment with every new deal. I'd imagine if he could keep it going that eventually he could just pay cash for something. I've often wondered if I could do something similar in the jeep market seeing how retarded that market is right now.

I'd be interested to hear from Poke on his concerns with this method of financing if any?

Kevin
Click to expand...
I think you're onto something here. I still don't "get" it but it could work, mathematically. But it requires vehicles to continue to get more expensive to keep the residual up.
 
2big bronco said:
Interestingly enough there are new f150s on ebay a solid 5k less then kbb trade in if they had 5k miles on them. Im considering trying to buy a new f150 to drive till my bronco shows up and pulling a "Poke"
Click to expand...

old rental?

i used to rent trucks a lot for work and was talking with the enterprise guy that was dropping me off once. he said that enterprise had enough buying power they sell the trucks they rent for more than they buy them even after renting them.
 
Funny too see the troll mod getting caught on his multiple lies and not address them. About what I expected. Keep tossing insults, might as well make yourself look worse.
 
mobil1syn said:
old rental?

i used to rent trucks a lot for work and was talking with the enterprise guy that was dropping me off once. he said that enterprise had enough buying power they sell the trucks they rent for more than they buy them even after renting them.
Click to expand...

100% possible. Quarrying company I used to work for had more buying power than dealers. Their price from Cat direct was less than the dealers could get in many cases. Almost certainly plenty of agreements in that case to not flip them right back to the dealer/other users.
 
You must log in or register to reply here.
Top Back Refresh