New car!

[mrd]

Lot of upseteria in this thread.

[seremtan]

the clouds of upsetism are raining tears of butthurt

[syp0s]

Let me dumb it down for u... Ur too dumb to lie, poor and ppl laff at u when u walk by... ...

Let me do you the same service: you are an illiterate bum with no money, less brains, and zero prospects

Meanwhile, I just booked a table at La Gavroche

[LawL]

I think Geoff is having a meltdown.

[scared?]

From studying maybe... Not from u nitwits...

[LawL]

Grow up poory.

[mrd]

poory

[PhoeniX]

BTW...i was being nice the 20% rule... Which BTW isn't my formula. That's a poor person formula to get ppl in better cars...

The rule non poors use is the 20/4/10 formula...
20% down
4 year loan
10% income... Including all car expenditures...

Obviously this is unworkable to u even if ur lies were true... Either way ur a moron... ...

Surely the non non-poors use the 100/0/0 rule.

100% down;
0 year loan;
0% income.

Only poors need to take out loans.

[scared?]

No those the wealthy morons...

[xer0s]

I agree with you to an extent. But it's difficult to gain a decent credit rating doing it that way.

Even if you're paying cash for everything. It's still good to have that excellent credit score...

[YourGrandpa]

If you can make more on your money by borrowing someone else's, why not?

[seremtan]

If

[xer0s]

If you can make more on your money by borrowing someone else's, why not?

Corella must be really giving it to ya good. No lube...

[Doombrain]

Single Brian's back with his boring, everyone's had one, A4.

[Eraser]

I agree with you to an extent. But it's difficult to gain a decent credit rating doing it that way.

Even if you're paying cash for everything. It's still good to have that excellent credit score...

That's why the US economy is as fucked up as it is. Buying something with money you don't have is so deeply ingrained in your culture that you're even loaning money to get a good credit rating so you can loan even more money. That whole economy is one big hole filled up with other holes. And it's dragging the rest of the world down with it.

[MKJ]

I was gonna say, where we are we don't need 'credit ratings'.

[xer0s]

I agree with you to an extent. But it's difficult to gain a decent credit rating doing it that way.

Even if you're paying cash for everything. It's still good to have that excellent credit score...

That's why the US economy is as fucked up as it is. Buying something with money you don't have is so deeply ingrained in your culture that you're even loaning money to get a good credit rating so you can loan even more money. That whole economy is one big hole filled up with other holes. And it's dragging the rest of the world down with it.

But I do have the money. I said nothing to the contrary...

[Κracus]

I agree with you to an extent. But it's difficult to gain a decent credit rating doing it that way.

Even if you're paying cash for everything. It's still good to have that excellent credit score...

That's why the US economy is as fucked up as it is. Buying something with money you don't have is so deeply ingrained in your culture that you're even loaning money to get a good credit rating so you can loan even more money. That whole economy is one big hole filled up with other holes. And it's dragging the rest of the world down with it.

It's not just like that though. I get what you're saying, save up and buy your shit. That's fine on paper but you realize a mortgage is a 20+ year item right? Do you REALLY want to spend 20+ years saving so you can buy a house? Think about how retarded that is since you have to pay rent.

Lets say Johnny wantsahouse is 28 years old and has a college degree and wants to buy a home. He can either rent a home at a fairly high premium and save up for a home or he can get a mortgage. Let's see which is better?

Renting and saving: Johnny rents a tiny ass apartment at 1000$ a month. On top of that he has to pay utilities, so say his bills are roughly 1500$ which is being generous cause power can get quite high. So that's rent + power + phone. It'll take johnny about 25 years of saving to be able to afford a home at 300000$ (modestly nice home in these parts) if he puts 1000$ aside each month, which honestly isn't very realistic, but lets just say it's cool. So with no inflation or rent increases Johnny just pissed away 450,000$. So his 300k home has cost him 750,000$ Now lets see how a mortgage works.

Mortgage: Instead of renting and saving johnny goes to a bank to get a mortgage. You can get a mortgage today with a fixed rate of 2.24% for say 5 years. Johnny then gets his mortgage for his 300k home. Johnny will have to pay 1306.84$ a month. Assuming interest rates stay the same (We made a similar assumption about rent not increasing and inflation previously) then he'll have paid somewhere around 90,000$ in interest over the 25 year period resulting in his 300k home costing roughly 400k. He also gets the benefit of living IN HIS HOME the entire time he's paying for it.

So call me crazy but I'm having a hard time seeing how your point of view is better. It seems unless you like living with your parents and having them pay for everything borrowing the money is the better way to go.

[xer0s]

Oh, so that's how that works...

[Eraser]

That's why the US economy is as fucked up as it is. Buying something with money you don't have is so deeply ingrained in your culture that you're even loaning money to get a good credit rating so you can loan even more money. That whole economy is one big hole filled up with other holes. And it's dragging the rest of the world down with it.

It's not just like that though. I get what you're saying, save up and buy your shit. That's fine on paper but you realize a mortgage is a 20+ year item right? Do you REALLY want to spend 20+ years saving so you can buy a house? Think about how retarded that is since you have to pay rent.

Mortgage is a whole different story bro.

[plained]

eraser were you able to get a low reasonable mortgage rate there where you are without a killer credit rating?

here where i am you need the wicked good rating to get the really good rates

[syp0s]

I'm glad Kracus is here to explain how a mortgage works.

[Eraser]

eraser were you able to get a low reasonable mortgage rate there where you are without a killer credit rating?

here where i am you need the wicked good rating to get the really good rates

Yeah, credit rating doesn't exist here. There's only a registry for people who are having debt and payment problems.
So in short, you don't need to have loaned money before to get a good mortgage deal. IMO it's kind of backwards that people who have never been in anyone's debt simply because they know how to handle their own money and have never loaned have a bad credit rating.

One thing you need to know about Europe, and the Netherlands in particular, is that credit card payments here are rare. In the average shop, they don't accept credit card (in big cities they often do due to tourism, but otherwise it's rare). Most people that have a credit card only have them to do online purchases abroad and pretty much everyone has 'em configured to pay off the debt at the end of the month from their bank account. This way you're not paying any (high) interest rates over it and it's just a glorified debit card.

[xer0s]

plained knows what's up...

[scared?]

Only poor ppl have 30 year mortgages... If u can't handle 15 then I suggest living under a bridge like sys0p...