I Make $2,000 a Month And I Have a $600 Motor vehicle Payment
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I Make $2,000 a Month And I Have a $600 Motor vehicle Payment
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45 comments
00poopmonster July 27, 2017 3:27 pm
This guy could have bought my car in one payment and had 100 dollars left over.
callum mackenzie July 27, 2017 3:27 pm
Their parents are cousins XD HAHAHAHA
Martin Allen July 27, 2017 3:27 pm
So many people want to drive around in that false representation of net worth.
Not BMW Finances fault, it's the stupidity of the buyer.
Martin Allen July 27, 2017 3:27 pm
I have a rule. After all outgoings are paid each month I look to retain 33% at month end. I am currently sitting at 44% remaining at month end. This is due to me living well within my means.
Tom July 27, 2017 3:27 pm
Why have debt on a car?
Renegade NEVAREZ July 27, 2017 3:27 pm
BMW financial arent the only crooks. Ask any repo guy and they have stories up the a#% about shady loans
DeeBoyy 16 July 27, 2017 3:27 pm
hows 2400$ a month and a 374 carpayment and 90$ in insurence , is that bad or good ?
J F July 27, 2017 3:27 pm
How can someone at 27 who doesn't pay rent be in so much debt? I lived at home after college and worked full time I don't think I've ever felt "richer" in my entire life
SOULY&Co Jewelry July 27, 2017 3:27 pm
they are doing this on the regular in nj
Quintin Stockton July 27, 2017 3:27 pm
I don't know how people do it. I make 42000 before taxes and my rent is 600 a month. To have a rent payment for a car is astronomical.
Devin Stambolziovski July 27, 2017 3:27 pm
This is what happens when you get too concerned about what people think about you.
Armando Aguilar July 27, 2017 3:27 pm
Advice him to get his girl pregnant so that way when he does taxes in the beginning of the year he is able to get 4-6k back with low income he makes.
Armando Aguilar July 27, 2017 3:27 pm
That's America! For you lol these lenders aren't brain damage they are brilliant! Only in America you could get approve for a 80k auto loan and only make 20k a year.
Slim July 27, 2017 3:27 pm
When I was a college student I owned a 1996 bmw E36. It was stick shift, rwd, and made around 200hp with bolt ons. Not to mention I picked up the car for 2700 bucks..foolish people buying expensive cars at a young age
Rich Lo July 27, 2017 3:27 pm
Make sure to use your tax return wisely and pay things down
gmansplit July 27, 2017 3:27 pm
I am a massive car guy, but this person is seriously stupid. When I was in college, I drove my 1991 Mazda Miata that I had bought for 1000 dollars in high school. I waited till I got out of college and started making 10000/month to get a nice car. Now I have a 2015 Corvette Z06 that I pay about 1200/month on for the next 1.5 years. That is only 2/11 of my income after taxes, which is a lot for most people, but not for me because of how much I love cars.
Jay Santos July 27, 2017 3:27 pm
Wait until that BMW breaks down. A new nightmare begins.
Holy Smokes July 27, 2017 3:27 pm
It's like 2008 again but with cars the bubble is coming.
Promiselost July 27, 2017 3:27 pm
A wise man once told me to not buy anything unless you have the cash for it. Financial loans are a way to keep you enslaved to your objects.
CAElite July 27, 2017 3:27 pm
I've done car sales myself and it is nuts what some people are coming with, I did prodominently used sales for a small dealer, we didn't do finance ourselves but dealt with a few 3rd party companies, the rates where horrendous, 5-20% APR. We have folk coming in who could only put $500 down on a $18000 used car, somehow being approved. I almost felt like screaming at them, "We have 9 cars on our lot for under $5000, yeah they are a little rougher around the edges but the serve the exact same purpose as your $20k car!".
I grew up in Eastern Europe (yes I have been in the US long enough to realise I am THAT sleezy Russian sounding car salesman :D) and getting into debt there for something as trivial as a new car is unheard of, if you are poor and you need a car you go and buy something 10-20 year old and Japanese and you pay in cash, its the same across all Europe, but here in America everyone seems to just have this mad obsession to live above their means.
These people coming to me seem obsessed with getting a <5 year old car, and they will come back, every 3-5 years for another one, it must be financially ruining them. Hell, I am in an OK place financially and am able to own 3 vehicles, between 10 and 30 years old, which all serve me reliably daily.
K13Good July 27, 2017 3:27 pm
Only $22 an hour?
WeKnowTheTruth2012 July 27, 2017 3:27 pm
what I noticed is that RNs and some business people own a lot of BMWs but they really barely make enough still to make 900 monthly payment..
AlmostfaKe Corporation July 27, 2017 3:27 pm
what camera do you use?
Vega-Expert July 27, 2017 3:27 pm
Idiots with their bmw living at moms hahahahahahaha…all the same men
Buuboi214 July 27, 2017 3:27 pm
I'm assuming he graduated already and making money and taking care of all of his finances.
Michael Marcano July 27, 2017 3:27 pm
Guess you don't have to be all too smart to fix things.
Reviews&More 1 July 27, 2017 3:27 pm
Dave is the 20% rule an accurate measurement for purchasing a vehicle?
jobless205 July 27, 2017 3:27 pm
I pay all my bills with credit cards, then pay the cards at the end of the month, no interest and tons of perks and points. Credit cards aren't the problem. Its a character flaw.
Tiffany Lea July 27, 2017 3:27 pm
https://teespring.com/cut-the-card Help my cause. I've cut the card.
Alumnikiid July 27, 2017 3:27 pm
Any deal involving negative equity is a NoNo.
Gjorge Rivas July 27, 2017 3:27 pm
$10,000 debt shouldnt even be considered a debt, he can pay that off in 2 years if he's smart. Imagine a $100,000 school loan debt
Daniel Lion July 27, 2017 3:27 pm
these people know theyll be reimbursed when the borrowers default, so they loan to anyone that isnt retarded. you can write any income down on the app, no one is going to check
Lonzo Ball better than Kobe Bryant easily July 27, 2017 3:27 pm
It's not a big deal just sell the car for whatever you can get or go and then go bankrupt that's all you got to do go bankrupt
Evan Wheeler July 27, 2017 3:27 pm
I make about $2300 a month and was given a $600 a month car payment. the catch is I put $15,000 down payment and my rent and utilities have no problem paying and the only other bills I have is phone and internet. with still some money left over to save in the bank. if I need money I can work all the overtime i want, but I'm 21 and I have everything i need or want.
Kev m July 27, 2017 3:27 pm
Thanks to Dave I am debt free except mortage, saving 6 months emergency funds now. Step 3 I believe
Kev m July 27, 2017 3:27 pm
you can't rent a car without a credit card, debit cards do not work. At least in Boise anyway.
EyesToSee July 27, 2017 3:27 pm
He called Dave for advice so obviously he knows he made a mistake. We've all made them. Our society encourages this idiotic behavior. Materialism.
Werner Kayser July 27, 2017 3:27 pm
There's a balance between civic reliability and BMW luxury and prestige In the used car market with the right research, in the case you don't feel like driving a sheep car and want something perhaps more edgy/sporty and acceptably reliable. It's what makes you happy that matters, if you are moderate and responsible. A lot of good choices with great looks and creature comforts under 10k, including reliability average or above. People that want to cross the bridge too quickly for easily recognizable "luxury statements" and pay %15+ apr are the ones that end up slowing their financial advancement and digging themselves in a hole. Can you manage it? Sure.. but it's about what you are losing unnecessarily due to a lack of patience. It takes maturity to understand that difference
Zach Hawkins July 27, 2017 3:27 pm
This boy needs a mitsubishi mirage
KraziAzn2 July 27, 2017 3:27 pm
BMW financial will approve anyone with a heartbeat
Buhnanafone Youtube July 27, 2017 3:27 pm
hahaha i only earn 4.066k monthly and my car payment is around 175 bi weekly
Tregeta July 27, 2017 3:27 pm
Pretty obvious that BMW financial wants to make debt slaves.
nguyenxuanmai July 27, 2017 3:27 pm
And the BMW you're now paying on does not impress the ladies because they're gonna date a guy that not only makes more money than you …. but has his own bachelor pad and the current model BMW. Sounds like your parents allowing you to live at home has backfired. Because instead of becoming more responsible and independent you've used it as a windfall to splurge financially. Chicks be gone.
PragmaticProminence July 27, 2017 3:27 pm
U mad at bmw for giving the loan. Wow be responsible for your own actions sheesh
Jimmy truthseeker July 27, 2017 3:27 pm
In the same situation, dealerships are evil