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Scion FR-S / Toyota 86 GT86 General Forum The place to start for the Scion FR-S / Toyota 86 | GT86 |
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09-14-2017, 01:02 PM | #57 | |
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In the case where you have $1,000 to throw at your debt, I'm just saying my preference is to pay off what I can with the money rather than throwing it towards a higher interest loan and leaving the smaller debts in place. Maybe it doesn't make math sense (never said it did, or at least didn't tend to) but math isn't always what matters to everyone. If math really mattered you probably wouldn't be in debt to begin with. (Now starts the debate about using "someone else's money" when the rate is low enough)
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09-14-2017, 01:30 PM | #58 | ||
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09-14-2017, 02:03 PM | #59 | |
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09-14-2017, 02:19 PM | #60 | |
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Reducing insurance to the minimum required by law is fine.. if you have a $1,500 shitbox. If you can't afford to pay off the car without hurting yourself financially, then pay the insurance company to carry that risk. Given the question, it's clear that you can NOT shoulder that risk. What would you do if the car was stolen? Or some truck did a hit and run and totalled it?
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Track cars: 2013 Scion FRS, 1998 Acura Integra Type-R, 1993 Honda Civic Hatchback DD: 2005 Acura TSX Tow: 2022 F-450 Toys: 2001 Chevrolet Corvette Z06, 1993 Toyota MR2 Turbo, 1994 Toyota MR2 Turbo, 1991 Mitsubishi Galant VR-4 Parts: 2015 Subaru BRZ Limited, 2005 Acura TSX Projects: 2013 Subaru BRZ Limited track car build FS: 2004 GMC Sierra 2500 LT CCSB 8.1/Allison with 99k miles |
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09-14-2017, 02:23 PM | #61 |
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Unless you tow it. I've done it before without paying for registration or showing proof of insurance.
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09-14-2017, 02:24 PM | #62 |
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Location kills me.. I have no accidents or tickets and pay a shitload. Stupid Florida.
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Track cars: 2013 Scion FRS, 1998 Acura Integra Type-R, 1993 Honda Civic Hatchback DD: 2005 Acura TSX Tow: 2022 F-450 Toys: 2001 Chevrolet Corvette Z06, 1993 Toyota MR2 Turbo, 1994 Toyota MR2 Turbo, 1991 Mitsubishi Galant VR-4 Parts: 2015 Subaru BRZ Limited, 2005 Acura TSX Projects: 2013 Subaru BRZ Limited track car build FS: 2004 GMC Sierra 2500 LT CCSB 8.1/Allison with 99k miles |
09-14-2017, 02:38 PM | #63 | |
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In terms of insurance, I agree that they exist because they make money. I'm OK with that as it's a risk that I don't want to shoulder, especially on my cars with collector insurance as the cost makes it a lot more attractive to keep coverage on the vehicles. Additionally another benefit to insurance that I used recently.... I recently lost the Suburban to a drunk driver.. he was cited (and arrested). His insurance company refused to pay more than 20% of my loss. Sure, I would have won that lawsuit, but going through my insurance was an easy button that easily saved me a shitload of time and $$ up front. Time vs money/risk.. so like lots of people I'll be a sheep for the insurance companies
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Track cars: 2013 Scion FRS, 1998 Acura Integra Type-R, 1993 Honda Civic Hatchback DD: 2005 Acura TSX Tow: 2022 F-450 Toys: 2001 Chevrolet Corvette Z06, 1993 Toyota MR2 Turbo, 1994 Toyota MR2 Turbo, 1991 Mitsubishi Galant VR-4 Parts: 2015 Subaru BRZ Limited, 2005 Acura TSX Projects: 2013 Subaru BRZ Limited track car build FS: 2004 GMC Sierra 2500 LT CCSB 8.1/Allison with 99k miles |
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The Following User Says Thank You to Dave-ROR For This Useful Post: | Tcoat (09-14-2017) |
09-14-2017, 02:55 PM | #64 | |
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Min $ comes into play clearly to determine a more detailed result as principal balance is required to calculate each month. IE, that 3% loan could be a $350/month car payment - or it could be a fresh 3 year loan (ok no one would do that I hope, but still). However, it still doesn't matter. For easy numbers, if it's the tail end of a 5 year car loan for $20k at 3%, that remaining $1,073 of principal costs him $3 of interest. If it's the fresh 3y $1k loan scenario, the interest over that lifetime of the loan is a whole $47. There is simply no way that paying that off will ever beat that higher interest loan. Period. Now, there's a gratification factor in paying off a loan. I get it, and have done so before even knowing it was the worse financial option.
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Track cars: 2013 Scion FRS, 1998 Acura Integra Type-R, 1993 Honda Civic Hatchback DD: 2005 Acura TSX Tow: 2022 F-450 Toys: 2001 Chevrolet Corvette Z06, 1993 Toyota MR2 Turbo, 1994 Toyota MR2 Turbo, 1991 Mitsubishi Galant VR-4 Parts: 2015 Subaru BRZ Limited, 2005 Acura TSX Projects: 2013 Subaru BRZ Limited track car build FS: 2004 GMC Sierra 2500 LT CCSB 8.1/Allison with 99k miles |
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The Following User Says Thank You to Dave-ROR For This Useful Post: | Dadhawk (09-14-2017) |
09-14-2017, 03:24 PM | #65 | |
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09-14-2017, 03:31 PM | #66 |
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Can someone tell me how to pass commuter cars? Give gas or downshift. Sorry ... couldn't help myself. Alright ..... back to economics 101.
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The Following User Says Thank You to Braces For This Useful Post: | Tcoat (09-14-2017) |
09-14-2017, 03:41 PM | #67 | |
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The Following User Says Thank You to Tcoat For This Useful Post: | Dadhawk (09-14-2017) |
09-14-2017, 04:06 PM | #68 |
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Probably not going to be approved after this week..hope you survived relatively unscathed but those of us in Georgia appreciate you all taking one for the team.
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Visit my Owner's Journal where I wax philosophic on all things FR-S Post your 86 or see others in front of a(n) (in)famous landmark. What fits in your 86? Show us the "Junk In Your Trunk". |
09-14-2017, 04:07 PM | #69 |
1st86 Driver!
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Thanks @Tcoat, actually I had already moosegirled myself with the last posting...
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Visit my Owner's Journal where I wax philosophic on all things FR-S Post your 86 or see others in front of a(n) (in)famous landmark. What fits in your 86? Show us the "Junk In Your Trunk". |
The Following User Says Thank You to Dadhawk For This Useful Post: | Tcoat (09-14-2017) |
09-14-2017, 04:19 PM | #70 |
Rice King
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fuck tcoat, this is my type of woman too. STOP POSTING THIS SHIT I CAN'T OPEN THESE THREADS NO MORE. I had to double take ffs
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Know my 5x120 GREATNESS PEASANTS. |
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