Debt Dumpers 2021

[jen7233]

No, they will use your 2020 return to determine eligibility for this new credit. This is why payments wouldn't start until July. If passed, you will have to opt into receiving payments. If you do nothing, when you file next year, you will see either a $3600 or $3000 credit per child for kids THROUGH age 17 (this part is new), instead of just $2000 for kids 0-16.

I see, that makes sense.

 

[jen7233]

Calling all car buyers. First off, don't hate on me or belittle me for these questions. I've had a crap morning. I'm grumpy. I'm looking for helpful advice. I don't need someone trolling me today.

Car repairs are going to be around $3k. This is on a 2012 Chev. with nearly 160K miles.

Options: 1. Repair car. Obviously the cheaper route. But considering the age and wear on the engine, this may be the beginning.
2. Buy a used car. 2019 Honda Pilot with every bell and whistle. 20.5k miles $32k
3. Buy a new car. 2021 Toyota Rav4 hybrid with every bell and whistle. 0 miles. $38k
4. Buy a new car. 2021 Toyota Rav4 hybrid with half of the stuff. $32k

I'm looking for any advice. We've prequalified for 2.4% on a new car loan. 3.04% on used. Toyota is not running any financing specials on hybrids, unfortunately. We're looking to switch because we don't see gas prices dropping anytime soon. Also looking at AWD vehicles because I've been stranded in the last two snow storms. And I know our insurance will go up. I'm trying to brace for impact here.

I wouldn't put that much into a Chevy with that many miles. Likely something else around the corner happens though is how I would be viewing it if it were my vehicle. That said, I'd go with a Pilot or Rav 4, or open an option to looking at another model. I haven't looked into hybrid models, so don't have any comment on those. Now, the similar Toyota vehicle to the Pilot would be the Toyota Highlander. Maybe there's a better car loan rate out there. But, if preapproved you probably already went through the process. Most of the popular Toyota or Honda models I don't often less than a 1.9% on.

 

[barkley]

Calling all car buyers. First off, don't hate on me or belittle me for these questions. I've had a crap morning. I'm grumpy. I'm looking for helpful advice. I don't need someone trolling me today.

Car repairs are going to be around $3k. This is on a 2012 Chev. with nearly 160K miles.

Options: 1. Repair car. Obviously the cheaper route. But considering the age and wear on the engine, this may be the beginning.
2. Buy a used car. 2019 Honda Pilot with every bell and whistle. 20.5k miles $32k
3. Buy a new car. 2021 Toyota Rav4 hybrid with every bell and whistle. 0 miles. $38k
4. Buy a new car. 2021 Toyota Rav4 hybrid with half of the stuff. $32k

I'm looking for any advice. We've prequalified for 2.4% on a new car loan. 3.04% on used. Toyota is not running any financing specials on hybrids, unfortunately. We're looking to switch because we don't see gas prices dropping anytime soon. Also looking at AWD vehicles because I've been stranded in the last two snow storms. And I know our insurance will go up. I'm trying to brace for impact here.

I'm certainly not happy about increasing our debt. That said, because we've worked so hard, our credit scores are wonderful and our loan rates will be okay. We haven't bought a new car since 1997. I know the school of thought is that their depreciation is so crazy, but they also have 3 year warranties. The last used car we bought was on a whim, my 2012 Chevy. Great car, but we didn't think the financing through. This time, it's about being wise.

While we don't have to make the decision in the next hour or two, I'd like to try and gather some opinions and schools of thought. Just so disappointed. But, that said, I know I can still pay off the CC debt by Oct. at zero percent. Going to get my hustle on.

on the new cars-if you have a costco membership you might want to find out what price you can get through their car buying program. super easy to use, you get a few extra perks and when we used it we got the best deal we could find (no haggling-they have a set price w/dealerships). we got a much better deal using them than we could find/haggle (and i'm pretty good at haggling).

on financing-if you are looking at going through honda and they aren't offering any kind of financing incentive (when we bought our most recent ford was offering a few thousand off if you financed through them. we were going to pay cash but instead financed and payed in full before the first payment was due b/c i checked the terms and there was no prepayment penalty) you might look into what a local credit union is offering. the ones around us don't charge higher for a used-they look to the year of the car. right now if it's used but made after 2014 it qualifies for the same rate as a new (just looked 2.74% BUT you also get a .25% discount if you set up automatic payments from one of your credit union accounts).

Can't really offer advice, but your insurance will likely go DOWN if you purchase a newer model year car with safety features like Honda Sense (don't know what Toyota calls their suite of safety features). Our insurance went down dramatically when we replaced husbands 2009 with a 2017 Honda Civic with Honda Sense features. Like, $25/month less.

we've called our insurance company in the past and asked which add on's qualify for a discount/add cost to coverage. it's interesting to see how something we wouldn't have considered would pay for itself in a year w/the discount (and then benefit our payment for the life of ownership).

 

[jen7233]

In happier news, we are going to WDW in March! With this never-ending snow, cold, freezing rain, etc. I've had enough and need some happy fun in the sun time. Flights are free so what the heck. Beach Club, here we come!!

Enjoy! BC is great! We are going Easter week (not staying on property this time, but to WDW). We've had this one pushed from last April, tickets and flights, room first night charge, were just shifted forward.

 

[Buzzsgramma]

My daughter and son in law went thur Costco for their Subaru...very pleased with procedure...When we went to the Ford dealer to purchase new car a few ths ago we mentioned Costco membership to them and they took $1500.00 off the top...We bought a 2021 Ford Explorer XL....

 

[ciaoaloha31]

Went to the dentist today for a cleaning and once every few years x-rays. Everything on the surface looked great but x-rays revealed 4 spots that needed fillings. Good news is that the filling appointments aren't until later in March so I won't see the bill for them until April. Just a bummer that I will need to decrease the misc/fun money budget a bit in April to stay on track paying off my 0% cards before the promotional period is up.

 

[DisneyHardin]

@imbatman I'm religiously checking the group to see what car you decided on. I'm invested now and need an update

 

[jen7233]

@imbatman I'm religiously checking the group to see what car you decided on. I'm invested now and need an update

Same. I admit my interest in car decisions! Thankfully (knock on wood) I am not currently in such a decision mine was a couple years ago when the transmission went out and other issues overcame my GMC, but we've all been at some point in our lives, once, twice, three times more...

 

[webcreatrix]

Calling all car buyers. First off, don't hate on me or belittle me for these questions. I've had a crap morning. I'm grumpy. I'm looking for helpful advice. I don't need someone trolling me today.

Car repairs are going to be around $3k. This is on a 2012 Chev. with nearly 160K miles.

Options: 1. Repair car. Obviously the cheaper route. But considering the age and wear on the engine, this may be the beginning.
2. Buy a used car. 2019 Honda Pilot with every bell and whistle. 20.5k miles $32k
3. Buy a new car. 2021 Toyota Rav4 hybrid with every bell and whistle. 0 miles. $38k
4. Buy a new car. 2021 Toyota Rav4 hybrid with half of the stuff. $32k

I'm looking for any advice. We've prequalified for 2.4% on a new car loan. 3.04% on used. Toyota is not running any financing specials on hybrids, unfortunately. W

We had a Pilot. It had radiator and overheating issues. Will never buy anything but a Toyota again, even for teenage children. I have a 2018 Rav4. I love it. It's the perfect sized vehicle for me. Being in Texas, I Googled which mode I should run my Rav4 in, eco/sport/regular, during this God awful winter storm and discovered the newer Rav4 models are great on snow and ice. I was ready for an upgrade, even though I have a new-ish Rav4 and only several thousand remaining on my loan. I did get zero percent interest but not a hybrid. I LOOOOOVED my Prius! Have also had a Camry and a 4Runner. Husband currently has a 4Runner. We traded in our Chevy's in like 2000 and never looked back.

Edited to add: We have never repaired a Toyota.

 

[imbatman]

@imbatman I'm religiously checking the group to see what car you decided on. I'm invested now and need an update

Hey, all! Sorry about the delay. What a weird weekend.

Went to the dealership on Saturday after deciding that putting $3k into the old ride isn't wise. We are going to pay the mechanic what we owe and ask if he knows of anyone who may want it for $1k. They can decide how to proceed. At the dealership, I'm not joking that my husband and I practically played rock, paper, scissors to decide. What it came down to was the warranty. And we actually found a mid-range 2021 RAV4 that only cost $12 more per month with the extras I wanted!



Also, number crunching: putting zero down and then using that money to pay directly toward principal in April is saving us money. AND learned that by becoming Nurse Rachet with our budget and getting things paid off meant that we both have excellent credit! Over 850! (All you lurkers: YOU CAN DO IT!!!)

It took us nearly four hours to get the car. They sold five other cars while we were there. I'd listed an old VW Bug I'd had for years yesterday morning and it sold in a few hours to a guy in Hawaii. That money will go straight to the last CC. I was even thinking of using the down payment toward the CC to get it paid off, then making an extra car payment every other month, the off month going into savings.

**edit to add: I DID haggle, especially since it took so long! I got free heavy duty floor mats, cross bars for the top (ordered), AND free lifetime oil changes!

 

[imbatman]

Something else to think about..Honda CRV.

We did consider this as a hybrid (gas isn't getting cheaper in California...) and the CRV's have horrible reviews. They are not getting the mileage and already having engine issues. The Rav's utilized the years of Prius technology. Believe me, I wanted a Honda.

 

[Tygerlilly]

Today was hubby's birthday. I scheduled off work (had some vacation time to cover it), bought a clearance cake and let the girls help me decorate it, and had my mom come watch them so we could go to dinner and the casino (our birthday tradition).

Well, we took in $200 with us. Guys. We came home with over $1300!!!! Talk about birthday luck! Going to put that towards car tags that are due next month and get the last few big things needed for baby!

 

[DLgal]

We did consider this as a hybrid (gas isn't getting cheaper in California...) and the CRV's have horrible reviews. They are not getting the mileage and already having engine issues. The Rav's utilized the years of Prius technology. Believe me, I wanted a Honda.

My sister had a Prius and her husband had a Rav4. They traded them in for a CR-V and a HR-V a couple years ago. They had nothing but issues with BOTH Toyotas. I hope you have better luck
I've been driving my CR-V since 2007. It hasn't given me any trouble. Best car I've ever had. I have never seen horrible reviews of CR-Vs.

 

[jackers]

Our federal tax refund posted this weekend to our account so ordered a new couch (16-20 week lead time!!). Will put some towards the college fund, DH and I will each get a little “fun” money and the rest into savings for now. Still expecting a couple hundred from state as well.

Decided this weekend to swap my office on the first floor with the spare bedroom in the basement. A drastic and maybe odd effort to get myself in a better health place. I think being away from the kitchen and using the stairs multiple times a day will help me jumpstart in the health area. Also, my treadmill is now right outside my office door. I think I will be more apt to hop on it throughout the day, maybe just for 10 minute power walks between conference calls or to de-stress myself to start. Am aiming for at least 10,000 steps a day which has been extremely difficult to hit when working from home.

Last update, planning a road trip with my sister to visit my niece in Atlanta next month for a long weekend. It will be a refreshing change of pace. The pandemic, working from home, and harsh winter has taken its toll on my mental health this year.

 

[ruadisneyfan2]

We had a Pilot. It had radiator and overheating issues. Will never buy anything but a Toyota again, even for teenage children. I have a 2018 Rav4. I love it. It's the perfect sized vehicle for me. Being in Texas, I Googled which mode I should run my Rav4 in, eco/sport/regular, during this God awful winter storm and discovered the newer Rav4 models are great on snow and ice. I was ready for an upgrade, even though I have a new-ish Rav4 and only several thousand remaining on my loan. I did get zero percent interest but not a hybrid. I LOOOOOVED my Prius! Have also had a Camry and a 4Runner. Husband currently has a 4Runner. We traded in our Chevy's in like 2000 and never looked back.

Edited to add: We have never repaired a Toyota.

You are lucky then I loved my Toyota Sienna but after the extended warranty ran out the cable snapped on the power side door. They wanted $2400 to replace it, or $400 just to disconnect it from the motor and use it manually.
Also the rear folding seat stopped being able to fold flat. They wanted some ridiculous amount just to troubleshoot plus the unknown cost of repair. I didnt bother.
Another time it was leaking power steering fluid and had to replace something related to that to the tune of $1300.
All this and I traded it in at 55,000 miles.
I did have a 1990 Supra that I bought brand new that was wonderful and I LOVED that car but finally sold it after I was pregnant with ds24. Once I started getting big it was killing my back to get in and out of it.

 

[imbatman]

I have never seen horrible reviews of CR-Vs.

Only the new hybrids, which is what we wanted. The gas ones are fantastic!

 

[DLgal]

Only the new hybrids, which is what we wanted. The gas ones are fantastic!

Oh, gotcha. Yeah, I wouldn't buy a hybrid, personally. My city gas mileage isn't very good on my CRV, but I barely drive 50 miles a week, so I don't care. I only fill up MAYBE once a month. The HWY mileage is still around 30mpg. My next car will be fully electric, but I'll drive my CRV until it won't go anymore and at less than 100k miles right now, I'll be driving it for a LONG time still.

I read that the CR-V hybrid doesn't get great gas mileage because the hybrid battery makes the car SUPER heavy and that brings down the efficiency. This seems to be a problem with a lot of cars that have hybrid "versions" on top of older platforms. Car models that are strictly hybrid or electric are built with lighter weight components to account for the heavier battery weights.

 

[jen7233]

Also, number crunching: putting zero down and then using that money to pay directly toward principal in April is saving us money. AND learned that by becoming Nurse Rachet with our budget and getting things paid off meant that we both have excellent credit! Over 850! (All you lurkers: YOU CAN DO IT!!!)

Congrats on the new car! Quite a credit score.

Well, we took in $200 with us. Guys. We came home with over $1300!!!!

You have great luck! My mom had strange good luck with slots whenever gambled always won, my luck is terrible when I've been to casinos.

Our federal tax refund posted this weekend to our account so ordered a new couch (16-20 week lead time!!). Will put some towards the college fund, DH and I will each get a little “fun” money and the rest into savings for now. Still expecting a couple hundred from state as well.

Decided this weekend to swap my office on the first floor with the spare bedroom in the basement. A drastic and maybe odd effort to get myself in a better health place. I think being away from the kitchen and using the stairs multiple times a day will help me jumpstart in the health area. Also, my treadmill is now right outside my office door. I think I will be more apt to hop on it throughout the day, maybe just for 10 minute power walks between conference calls or to de-stress myself to start. Am aiming for at least 10,000 steps a day which has been extremely difficult to hit when working from home.

We are getting a new couch also, ours is ripped and use covers to conceal the rips. That's a great idea to get in cardio on time crunch, small increments.

All this and I traded it in at 55,000 miles.

Oh no, that's bad! I better make it way past that hoping for 10 years!

 

[imbatman]

Limping in on this Friday for some cheering up. Just when the end is in sight, my car took an expensive face palm. It has 160k miles. My mechanic (who is a wonderful guy we've used for over 10 years) said he's seeing if it's worth fixing, but he's not confident.

I don't want a new/new to me car! I don't want car payments! I was so close!!!

SOOOO happy we decided to buy a car! Mechanic called me this morning and said the water pump was leaking, too! I told him I needed to sell. He offered to buy. I said, "Let's barter for future repairs." SOLD! I did get a little teary-eyed cleaning it out at lunch. But I'm so grateful to have this resolved with an exclamation point.

Still waiting for the money transfer for my old VW to hit the bank. Once that happens, I'll be over halfway paid off for the last CC! And if the stimulus passes, that'll be paid in full.

 

[CaleCakes]

Well, we took in $200 with us. Guys. We came home with over $1300!!!! Talk about birthday luck! Going to put that towards car tags that are due next month and get the last few big things needed for baby!

Wow, how exciting!! I do miss casino access from when I lived in New England there were several close by in CT, MA, and RI. Now that I am in TX I haven't been and I do miss going. We wouldn't bring much money. maybe $100 and when it was gone it was gone. I would like to take a road trip to Louisiana to check out their casinos someday.