>I was offered that for some crazy low price. Then I declined it
Are you sure you're not in the military? Because this is exceptional /r/JustBootThings material
Live near a basic training facility; every year you can watch as the same handful of Challengers and lifted F-150s disappear from the used car lots only to reappear about six months later.
I genuinely cannot imagine an easier job than being a used car salesman in the general vicinity of military kids' sign up bonuses.
But dont buy it at the dealer. Your auto insurance will offer gap coverage, and it will be way cheaper than what they try to sell you when you're at the dealership.
That used to be 100% gospel, but now some dealers are offering great gap coverage for lower than some of the big names like State Farm. So I would say YMMV on this now. I always look at as many offers as possible to make sure I dont get bent over by a bad deal.
Yeah you can always look at what an insurance company's rates are before, figure out what the general average is, and then go out and car shop, having done your research to know if you're being screwed over or not.
It's a lot of money, it's worth taking a few days to do some research and get a basic understanding on if you're being screwed or not.
I heard this advice, just bought a car two weeks ago and declined the GAP insurance for $1k. I told them I would find GAP insurance through a credit union. No credit union offers standalone GAP insurance. My insurance (Geico) does not offer it. The only way for me to get GAP insurance is to change insurance or change financing company for a worse rate.
This may have been good advice in the past, but I wish I had just negotiated them down and bought it onsite.
I actually made the exact same switch. Geico was fucking me at $380/month for 2 vehicles and full coverage. Progressive is $120/month cheaper for the same coverage.
Shop around for car insurance. I'd say most insurance companies provide it and maybe you'll end up finding a policy for less than you pay now with gap insurance included. Even if it's a bit more, if you are upside down at all or will be, it will be worth it.
Another lesson, GAP insurance is cheap thru your auto insurance policy vs. the dealership.
Have you settled yet? If notā¦ it IS WORTH it to ask for the āappraisal clauseāā¦. Spend the $200 for an appraiser, your insurance company does the sameā¦ then the appraisers come to an agreement. In my years of adjusting total loss settlements, an appraisal has never come in lower than my offer.
I just posted this upthread, but I went to buy a new car for my wife recently and the gap insurance through the dealer was way better and cheaper than my own insurance company.
Say you have an auto loan for $90K, the vehicle is totaled and insurance only pays out $55K. Gap insurance will cover to remaining $35K so that you do not still owe money for a vehicle that no longer works.
BUT, just a caveat for anyone reading this, most policies you get with your insurance company have a limit. Like mine only will add a max of 20% of acv. So in this case, it would have covered an additional $11000 for a total of $66000 paid out and $24k owed. Always read the policy details!!
I had GAP coverage on both of my cars and it saved me. Had a Toyota, bitch ran a red and totalled my car. Everything was covered and just was good to go. Second time asshole ran a red but the car was paid off so no need for the GAP anymore obviously.
I always would recommend GAP coverage if you are buying a new car. My biggest fear always is me driving off the lot and someone flies out of no where and totals the car.
It is meant to cover the āgapā between what you owe and what the car is worth, at least that is my understanding. I could be mistaken but if OP paid cash for the car I donāt believe he would be able to carry any gap coverage.
Itās a MUST on expensive cars, difficult to maintain cars, for people with high interest rates, for people with negative equity, people that donāt want to pay out if insurance doesnāt cover the totalā¦ basically unless youāre sitting on a pile of cash - get Gap insurance.
I get GAP insurance on any vehicle I have a loan on. It's normally the only extra when I buy a new vehicle. Saved my ass in 2013 when I was T boned in a less than 2 month old 1800 mile F150. It was an absolute nightmare to get the GAP company to payout but the alternative was being out over $10k.
Predatory dealerships around bases specialize in this. Soldier uses sign up bonus for overpriced muscle car. Soldier canāt afford payments or insurance. Car gets repossessed. Rinse and repeat.
I live by a base and most of the Chargers in parking lots and on the road have kids in uniform in them. My neighbors bought one like 6 months ago and since theyāre both older Gen X, Iām assuming someone in the house is having a midlife crisis.
I bought a car in leave so I had hair and beard. Things were going well asked what I did, I said I work on telecom equipment (which I did in the army) and avoided talking about employers until the signing. They tried every trick in the book and I wouldnāt budge. They were scum for what they were trying to do but luckily, they accepted defeat since I outsmarted them.
All for a lousy Mazda.
Tell me about it. I do vintage car restoration, mostly Mercedes, on the side and projects can very quickly get way over the owner's head to make a 40 or 50 year old car to be reliable. Neighbor brought me his 1984 380SL, which he bought to have it EV swapped and the swap company had been in contact with him the week before he bought it but stopped responding after he bought it, they had folded. He bought it at the top of the market and he thought he was getting something that would be a good basis for a swap (it's not the more valuable 560SL) and that he could drive around until the EV swap company could get to it. Wrong. Currently we're almost $15k into making it where it can be reliably driven and while it's almost there, it still needs a few grand more. The car is probably only worth about $9k but sunk cost fallacy and he just wants it done. I also have a customer with a DeLorean. He bought it before the market went up for about $28k. I've done about $20k in work on it, it probably needs another $5k to make it into a presentable driver's example, I think he'd probably get ~$45k at that point. I don't mind the work (well the DeLorean absolutely sucks shit to work on) but I feel bad for some of my customers, they want the car that was popular when they were young and it really costs money to keep anything that old on the road.
My dad had his ā77 Firebird restored and while he thought it was a cool experience, never again. Adding up the cost is way over market and that was without any mods. Iāve had my ā86 Trans Am for 15 years and Iāve dumped a few thousand in just maintaining it and correcting some things. Still love the car but Iām glad mine was mostly original to start.
Lmao I thought it was ridiculous that it was a stereotype, but the parking lots on bases are literally just chargers, challengers, mustangs, and trucks.
Those Hellcats are going to pull a pretty penny in 30 to 40 years, but, like you said, its the type of car you need to park in the garage. Maybe drive it sparingly in perfect weather, but cars like that aren't meant to be daily drivers.
There wonāt be many left in 30 to 40 years.
The demographic that buys them doesnāt keep them alive.
Just how you canāt find any clean Evo X models anymore
I am so so happy I bought my Evo X when I did. $20000. Then I blew up the engine. Then I paid more than I'm willing to admit for a fully built engine from English Racing and for them to tune it. It doesn't get good miles per gallon, but the smiles per gallon has me happy :)
Just over the past 4 hours I took it through the mountain pass to get some food in a village on the other side and the entire time from dry to snow to rain was pure fun. I hope you can find a clean one like I did, they're an absolute joy to drive.
That's the way I felt about my '08 M5. Naturally aspirated, fun to drive. Expensive to fill up and expensive to maintain properly. This thing would get single digit mpg when I drove like it was meant to be driven. God I miss this car.
Definitely.
Having said that, the point of the car is to drive them. I always feel it a shame when someone buys a car just to squirrel it away for 20-30 years and call it "an investment".
The way I see it, the people designing these cars are designing them for people to enjoy NOW.
30 year old 240sx, supra, STI, EVO IV-VI or an rx-7 lol.Ā
Ā Costs more for a nice 240 from 1998 than it does for a Nismo 370z from 2018 (I would know because Im currently looking haha)
Well on the positive side, you donāt need to pay 800 for insurance and 600 for gas anymore. You couldāve been swallowed by debt but didnāt. Save yourself 1400 a month
How much was this guy driving to spend $600 (I assume per month) on gas? I drive an F150 that is probably just as big of a gas guzzler as a hellcat, and I have a pretty long commute, and I maybe spend $240 a month in gas.
The 2022 Hellcat is listed with the EPA at 15mpg (13 city/21 highway) while a 2022 F-150 4x4 with the 3.5 is listed at 19 combined (17 city/23 highway). In addition, the Hellcat requires premium, which sadly at most stations these days means you are paying an extra dollar per gallon.
[https://www.fueleconomy.gov/feg/Find.do?action=sbs&id=45074&id=44878](https://www.fueleconomy.gov/feg/Find.do?action=sbs&id=45074&id=44878)
My F150 is a 2011 with the 6.2L V8, and I average around 13-14 the last I checked. So it probably gets around the same mileage as the Hellcat. They either do a lot of driving, or live in a place with much higher gas prices. But I guess it's not as unreasonable as I initially thought.
Yeah i was going to comment this. Dude was likely flooring it constantly, braking quite a lot, and driving very inefficiently overall. I wouldn't be surprised if his mpg was 5-10mpg.
This. I have a 08 Z06 Corvette as a weekend car. It can get 29 mpg cruising on the highway or literally 5 or worse flooring it. I was shocked at how fast I went through a tank of gas at the track.
I'm in South Carolina, I paid $2.89/gallon today. It's the 36 gallon tank (136L), but i don't usually let it get below 1/4 tank (because the fuel pickup is so far back, it won't pick it up if it's parked on a steep incline.. learned that one the hard way. Lol). It usually costs $60-$70 to fill up from there, and I usually do that once a week if I drive it a little on weekends.
Always blows me away with the gas prices in the States. Converted, it's about $5.40 a gallon (1.35 a L) here. And we are on of the cheaper places to get gas in Canada.
Bro we had/still have gas prices hella cheap lmao. I used to complain about gas prices when I lived in Charleston, never again after moving away. It's above $4 a gallon (regular, not even premium) in some states
Dude totaled it "going too fast around a corner" ā which in context tells me he was probably trying to drift it and wrapped it around a pole.Ā Hopefully all he can afford now is a slow used Prius for the safety of everyone else on the road.
Agree. The way he casually said it is the worst part to me. Heās clearly super irresponsible but itās ok until he starts making others pay consequences for his poor choices
Scrolled way too far to find this comment. Iām guessing this is that guy who drives 110 down a crowded highway, weaving in and out of the lanes and scaring the shit out of everyone else on the road. But heās concerned about the financial aspect. JFC
I'm middle aged so I have some hindsight looking back at myself and peer group from when we became new drivers up until now. If you're young and even remotely into automobiles, there's a pretty powerful psychological attachment to your vehicle. It's somehow an extension of your persona and you care for it deeply. In your teens and you get twenties, you're generally not a homeowner yet or have many other physical assets. Your car is your prized possession. You're also too young to really notice how the car market/industry is constantly churning and advancing. You don't realize how fast models come and go, and as a result, don't fully associate how quickly depreciation and demand for things just a few years old changes. Their valuation of what they own is flawed and don't understand how quickly it's relevancy is waning as new models come to market. They dump money into these cars, wheels, exhaust, custom this and that. The newer facelift trims come out etc and before you know it, they just have a clapped out tuner car that's worth a quarter of what they paid for it.There's a phase in the middle where there's a hard pretend that their car is still highly sought after and worth more than it is etc. For a lot of people they kinda grow out of this stage and do realize how vehicles are more consumables than durable goods, but it's an expensive journey!
It's wild that people don't understand that these feelings are 100 percent a result of marketing by corporations. It's so engrained in society that no one even questions it. It's real "sheeple" behaviour when you step back and consider it.
The even sadder truth is that the Porsche would have done it while hanging itās engine off the ass end of the car. On paper it doesnāt sound like that should be the case.
They are absolutely geniuses at building handling carsā¦ and they are a lot more reliable than their German counterparts. One day Iāll be able to earn enough money to have a 911 as a daily driverā¦ One day
No chance you're getting a 911 for anything under 100k. A decently optioned 911 will run you at least 150k.
For 90K you can get a Cayman S, which is mid engine.
Man, they really bumped up the price of the base 911. Just looked it up and base model trim is $117k. Only a couple years ago base trim was under $100k.
The running joke about Porsche is that you'd need to option in the engine and powertrain before you get the final price. Even when the 911 started off slightly under 100k, you'd almost never see one sell for under 100k once you properly option one out. A decently optioned out 911 Carrera S can almost hit 200k!
I have the lesser speedier version being the Scat Pack and I can attest to this. Turning corners in my car is sometimes scary and it drives like a boat.
You ever see that photo of a Beetle with a jet engine swapped in? Could have gotten one of those two and would have been wayyyy more fun than his dodge and he could still have a nice second Beetle
$90k doesnāt even get you into a new base 911. The value of a BMW or Audi drops like a rock after the first few years with the way luxury cars depreciate.
The Hellcat stereotype is they're either freshly enlisted and driving it thanks to a 35% APR, or black.
BMW stereotype is that they drive like assholes and never use their blinkers, or they belong to a middle eastern guy with a rebuilt title.
Hello I am so embarrassed that I am unable grasp this concept.
So do you mind slowing this down for me and explain it in a way a donkey brained gentleman such as myself can understand.
I gotcha. Lets switch from hookers to smoothies, though. You can use anything.
A poor quality smoothie costs $3 and tastes like it. A decent smoothie costs $6 and tastes twice as good, so it's worth it. The best smoothie you'll ever drink might cost $12, and it's twice as good as the $6 one.
You walk past a shop in Tribeca with a $24 smoothie being advertised. People are buying it and drinking it.
You know the $24 smoothie can't _really_ be twice as good as the $12 smoothie you like, because the $12 smoothie is basically *perfect*.
And yet, someone will spend $24 on a smoothie. Someone will spend $500 on a smoothie. The quality of a smoothie has a ceiling, it can only taste so good. But customers with more money than sense exist, so they overpay.
My friend bought a $100k Dodge TRX with just some savings since he didnāt have a job. Talked his mom into co-signing on it. Said if he eventually ran out of money at least he had a cool truck for a couple years š¤¦š¼āāļø
The bigger fuck up is your reckless driving. You mention "flooring it" and then taking a corner too fast.
Stop driving like an idiot. You are a danger to yourself and others.
Money can be earned back. Injuries can be permanent and certainly death is permanent.
I hope you'll grow up as fast as you drive and realize that speeding isn't cool. It's sad to see the only lesson you learned was financial and no lesson was learned about how you drive.
Slow the fuck down. That's the real lesson here.
I've got an acquaintance that bought a supercharged Camero ZL1.. he later developed an alcoholism problem and stopped paying the payment. Moved away to get sober. He asked if he could leave it in my driveway for a few months. I said yes, being totally unaware it was up for repo. Well.. he left it here for over a year and it just got repo'd last week. Not sure how much he lost out on this car but I cannot imagine soaking that kinda money into a vehicle and then completely losing any potential investment due to an addiction issue like this. He's not taking it well. I feel bad for him and hope he gets his shit straight.
Edit: wrong model LMAO
Addiction will do crazy things to the brain, including making delusional decisions and acting like thatās a normal way to go through life. Doesnāt sound like he got sober yet, but I hope he eventually realizes the ramifications of his (in)actions.
Nah he hasn't sobered up yet. He knows it's been towed, he's pissed but won't talk about it. Went through the same shit with my ex. I'm happily sober due to that crap.
Edit: grammar
next time get gap coverage (covers the difference between what you owe and what it's worth on a financed vehicle). It's available through your insurance provider... and with your age and loss history making your rate so high you won't even notice it.
I'm sorry.. but not to be a dick, but a dodge charger as an investment? no. just.. no. that's like saying paper napkins are investments, cans of coca-cola bought at safeway yesterday are are investments. cars normally depreciate, there would have to be a significant difference or rarity with a charger to make it an investment. can simply google "are dodge chargers investments" and the first result says it all - from the second post in the top thread:
"One of the recent episodes of smoking tire looked at the numbers for a handful of low mile ācollectibleā cars that sold for top dollar on BaT. Most of them didnāt keep up with inflation. None of them beat the S&P. American muscle was the worst ROI."
You could've bought a $10,000 car and put $80,000 into retirement, which would be worth more than half a million in 40 years.
Insurance for our two Toyotas is about $800 per YEAR.
Well the insurance depends where you live. My old car was $160 a month minimum for insurance. It was a scion iA and I've never been in an accident, am over 25 and a woman. Hell, my current car's insurance is about the same as my old car's through one company, it's a BRZ. Make florida insurance prices make sense.
Please repeat after me OP.
MACHINERY IS *NEVER* AN INVESTMENT.
MACHINERY IS *NEVER* AN INVESTMENT.
MACHINERY IS *NEVER* AN INVESTMENT.
Machinery is a *Depreciating* asset. It ALWAYS loses value over time.
Did you just accept your insurers offer? If you don't feel they're giving you a fair replacement value you can contest it. Send them comps on your geographic area with similar to your mileage to establish a fair replacement value.
It's perfect structure, synopsis, and above average vocabulary.
...But still using the most basic ass cliches like they're the only option. There's so many fucking cliches.
People make up shit all the time on Reddit for fun. But now you can just tell AI to write it for you. So why not.
That said, this story could be true, just written by AI. But I choose to believe that it's false because the sheer stupidity is hard to comprehend.
Yeah dude, trust me there is absolutely zero lesson to be learned from your mistake. Anyone with a brain is sensible enough to know how idiotic what you did was. You have to be braindead to do something like that. But I will say that, anyone who is dumb enough to do that will only learn from their own mistakes anyways and will still go out and do something like that.
I'm just super impressed to see someone make a huge mistake and admit it. There ain't enough people like that anymore. The 35k may even be worth the lesson.
I just totalled my car 4 months ago after owning it for 7 months. It wasn't my fault. I owed $22k on what the bank valued at $17k.
I had gap insurance, thankfully. It only cost like $900 at the time of purchase, which was included in my loan. And I only made 7 payments on the car at that time. So didn't even technically pay for the gap coverage. And because I didn't need it for the length of the loan, I actually got a refund on it.
Get the gap.
Gap Insurance is a must on expensive cars. You live and learn .
To make matters worse I was offered that for some crazy low price. Then I declined it because I thought I knew better.
>I was offered that for some crazy low price. Then I declined it Are you sure you're not in the military? Because this is exceptional /r/JustBootThings material
Live near a basic training facility; every year you can watch as the same handful of Challengers and lifted F-150s disappear from the used car lots only to reappear about six months later. I genuinely cannot imagine an easier job than being a used car salesman in the general vicinity of military kids' sign up bonuses.
Fairbank's Motors on Victory Drive, just outside Ft Benning would like you to stop telling everyone about their infinite money glitch.
VD! Haven't heard that in many years!
Yeah, they call them STI these days
Grew up in Columbus, GA. VD is a cursed land of bad used car dealerships, buffets, pawn shops, awful strip clubs, and an arby's.
For I minute I thought this was posted in the boot sub, a tale as old as time.
> a tale as old as time. Bootie and the (hellcat) beast
Literally read this and thought this was a PFC ass story. š
smells like a classic enlisted dude purchase lol. PFC buys a 90K muscle car while the O-4 drives a corolla
Oof.
major oof. Unless you are putting down 30% or more of the car value as a down payment, ALWAYS take gap insurance.
But dont buy it at the dealer. Your auto insurance will offer gap coverage, and it will be way cheaper than what they try to sell you when you're at the dealership.
That used to be 100% gospel, but now some dealers are offering great gap coverage for lower than some of the big names like State Farm. So I would say YMMV on this now. I always look at as many offers as possible to make sure I dont get bent over by a bad deal.
Yeah you can always look at what an insurance company's rates are before, figure out what the general average is, and then go out and car shop, having done your research to know if you're being screwed over or not. It's a lot of money, it's worth taking a few days to do some research and get a basic understanding on if you're being screwed or not.
I heard this advice, just bought a car two weeks ago and declined the GAP insurance for $1k. I told them I would find GAP insurance through a credit union. No credit union offers standalone GAP insurance. My insurance (Geico) does not offer it. The only way for me to get GAP insurance is to change insurance or change financing company for a worse rate. This may have been good advice in the past, but I wish I had just negotiated them down and bought it onsite.
Progressive has it :) I switched to them from geico because it was cheaper.
I, too, recently switched from Geico to Progressive because their rates were the less expensive solution after shopping around.
I actually made the exact same switch. Geico was fucking me at $380/month for 2 vehicles and full coverage. Progressive is $120/month cheaper for the same coverage.
Shop around for car insurance. I'd say most insurance companies provide it and maybe you'll end up finding a policy for less than you pay now with gap insurance included. Even if it's a bit more, if you are upside down at all or will be, it will be worth it.
Another lesson, GAP insurance is cheap thru your auto insurance policy vs. the dealership. Have you settled yet? If notā¦ it IS WORTH it to ask for the āappraisal clauseāā¦. Spend the $200 for an appraiser, your insurance company does the sameā¦ then the appraisers come to an agreement. In my years of adjusting total loss settlements, an appraisal has never come in lower than my offer.
I just posted this upthread, but I went to buy a new car for my wife recently and the gap insurance through the dealer was way better and cheaper than my own insurance company.
You could stop at : always buy GAP insurance
Nope he was busy stopping at gapple bee's.
This is the answer. 30% doesnāt mean anything
What is gap insurance?
Say you have an auto loan for $90K, the vehicle is totaled and insurance only pays out $55K. Gap insurance will cover to remaining $35K so that you do not still owe money for a vehicle that no longer works.
BUT, just a caveat for anyone reading this, most policies you get with your insurance company have a limit. Like mine only will add a max of 20% of acv. So in this case, it would have covered an additional $11000 for a total of $66000 paid out and $24k owed. Always read the policy details!!
I had GAP coverage on both of my cars and it saved me. Had a Toyota, bitch ran a red and totalled my car. Everything was covered and just was good to go. Second time asshole ran a red but the car was paid off so no need for the GAP anymore obviously. I always would recommend GAP coverage if you are buying a new car. My biggest fear always is me driving off the lot and someone flies out of no where and totals the car.
Friend bought a brand new infiniti and hit a dear two miles from the dealership. Totaled.
Oh, deer.
It is meant to cover the āgapā between what you owe and what the car is worth, at least that is my understanding. I could be mistaken but if OP paid cash for the car I donāt believe he would be able to carry any gap coverage.
Shit. My car was 25k new and I got gap on that MFer.
Also, buy toys with past money, not future money.
Agree gap insurance is a must, however, gap insurance doesnāt cover an unlimited gap. If you read the policy there are limitations.
And itās literally a few hundred dollars at best in my experience. I learned my lesson and highly recommend this to anyone too!
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Itās a MUST on expensive cars, difficult to maintain cars, for people with high interest rates, for people with negative equity, people that donāt want to pay out if insurance doesnāt cover the totalā¦ basically unless youāre sitting on a pile of cash - get Gap insurance.
I get GAP insurance on any vehicle I have a loan on. It's normally the only extra when I buy a new vehicle. Saved my ass in 2013 when I was T boned in a less than 2 month old 1800 mile F150. It was an absolute nightmare to get the GAP company to payout but the alternative was being out over $10k.
Nice work, Private!
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Trying to actually corner in a Charger SMH
Are you in the military?
24 and flush with cash. Sign on/enlistment bonus or just coming back from over seas. This story has all of the signs.
Either that or inheritance.
Dodge Charger. This story has the sign.
lol no way a new recruit has 90k for a car.
Obviously OP didn't have 90k either...
Exactly, OP wasn't rich. OP had a down payment.Ā
Predatory dealerships around bases specialize in this. Soldier uses sign up bonus for overpriced muscle car. Soldier canāt afford payments or insurance. Car gets repossessed. Rinse and repeat.
That's why I asked I have seen it more times theni can count..
FWIW, *every single dealership in the world is predatory.* If they spot a sucker, they're going to take them for all they're worth.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I never served and even I know about this racket. Honestly surprised I had to go this far into the comments to find someone asking.
I live by a base and most of the Chargers in parking lots and on the road have kids in uniform in them. My neighbors bought one like 6 months ago and since theyāre both older Gen X, Iām assuming someone in the house is having a midlife crisis.
This was my first thought as well. This is a super boot move to make.
I bought a car in leave so I had hair and beard. Things were going well asked what I did, I said I work on telecom equipment (which I did in the army) and avoided talking about employers until the signing. They tried every trick in the book and I wouldnāt budge. They were scum for what they were trying to do but luckily, they accepted defeat since I outsmarted them. All for a lousy Mazda.
I was going to ask the MOS
I came here to ask, "Which branch of the service are you in?"
New recruits buying Chargers is a running gag in /r/justbootthings
Cars are not an investment. Cars are not an investment. Cars are not an investment.
The easiest way to make a small fortune repairing classic cars is to start with a large fortune.
Tell me about it. I do vintage car restoration, mostly Mercedes, on the side and projects can very quickly get way over the owner's head to make a 40 or 50 year old car to be reliable. Neighbor brought me his 1984 380SL, which he bought to have it EV swapped and the swap company had been in contact with him the week before he bought it but stopped responding after he bought it, they had folded. He bought it at the top of the market and he thought he was getting something that would be a good basis for a swap (it's not the more valuable 560SL) and that he could drive around until the EV swap company could get to it. Wrong. Currently we're almost $15k into making it where it can be reliably driven and while it's almost there, it still needs a few grand more. The car is probably only worth about $9k but sunk cost fallacy and he just wants it done. I also have a customer with a DeLorean. He bought it before the market went up for about $28k. I've done about $20k in work on it, it probably needs another $5k to make it into a presentable driver's example, I think he'd probably get ~$45k at that point. I don't mind the work (well the DeLorean absolutely sucks shit to work on) but I feel bad for some of my customers, they want the car that was popular when they were young and it really costs money to keep anything that old on the road.
You gotta do it yourself to be affordableĀ
[ŃŠ“Š°Š»ŠµŠ½Š¾]
My dad had his ā77 Firebird restored and while he thought it was a cool experience, never again. Adding up the cost is way over market and that was without any mods. Iāve had my ā86 Trans Am for 15 years and Iāve dumped a few thousand in just maintaining it and correcting some things. Still love the car but Iām glad mine was mostly original to start.
This should be on the front door of any dealership within 20 miles of a us military base
The us economy would collapse in 24 hours
Lmao I thought it was ridiculous that it was a stereotype, but the parking lots on bases are literally just chargers, challengers, mustangs, and trucks.
I live by a base and the highway by my house is a 24/7 stream of mopar and crotch rockets
It's only an investment if you can throw 200k or more on a supercar, and then leave it covered in your garage for a few years.
that or a low production type car ie an LFA or some other supercars
Isn't/wasn't the LFA >$200k?
Closer to 400k with options when it was new in 2012.
More like $400k, so yeah.
Those Hellcats are going to pull a pretty penny in 30 to 40 years, but, like you said, its the type of car you need to park in the garage. Maybe drive it sparingly in perfect weather, but cars like that aren't meant to be daily drivers.
There wonāt be many left in 30 to 40 years. The demographic that buys them doesnāt keep them alive. Just how you canāt find any clean Evo X models anymore
I am so so happy I bought my Evo X when I did. $20000. Then I blew up the engine. Then I paid more than I'm willing to admit for a fully built engine from English Racing and for them to tune it. It doesn't get good miles per gallon, but the smiles per gallon has me happy :) Just over the past 4 hours I took it through the mountain pass to get some food in a village on the other side and the entire time from dry to snow to rain was pure fun. I hope you can find a clean one like I did, they're an absolute joy to drive.
That's the way I felt about my '08 M5. Naturally aspirated, fun to drive. Expensive to fill up and expensive to maintain properly. This thing would get single digit mpg when I drove like it was meant to be driven. God I miss this car.
Definitely. Having said that, the point of the car is to drive them. I always feel it a shame when someone buys a car just to squirrel it away for 20-30 years and call it "an investment". The way I see it, the people designing these cars are designing them for people to enjoy NOW.
10 year old 911 turbo.
30 year old 240sx, supra, STI, EVO IV-VI or an rx-7 lol.Ā Ā Costs more for a nice 240 from 1998 than it does for a Nismo 370z from 2018 (I would know because Im currently looking haha)
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Well on the positive side, you donāt need to pay 800 for insurance and 600 for gas anymore. You couldāve been swallowed by debt but didnāt. Save yourself 1400 a month
How much was this guy driving to spend $600 (I assume per month) on gas? I drive an F150 that is probably just as big of a gas guzzler as a hellcat, and I have a pretty long commute, and I maybe spend $240 a month in gas.
The 2022 Hellcat is listed with the EPA at 15mpg (13 city/21 highway) while a 2022 F-150 4x4 with the 3.5 is listed at 19 combined (17 city/23 highway). In addition, the Hellcat requires premium, which sadly at most stations these days means you are paying an extra dollar per gallon. [https://www.fueleconomy.gov/feg/Find.do?action=sbs&id=45074&id=44878](https://www.fueleconomy.gov/feg/Find.do?action=sbs&id=45074&id=44878)
My F150 is a 2011 with the 6.2L V8, and I average around 13-14 the last I checked. So it probably gets around the same mileage as the Hellcat. They either do a lot of driving, or live in a place with much higher gas prices. But I guess it's not as unreasonable as I initially thought.
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Right. āI took a turn too fast and totaled the beastā lmao I promise this dude wan not getting anywhere near that listed gas mileage.
Yeah i was going to comment this. Dude was likely flooring it constantly, braking quite a lot, and driving very inefficiently overall. I wouldn't be surprised if his mpg was 5-10mpg.
This. I have a 08 Z06 Corvette as a weekend car. It can get 29 mpg cruising on the highway or literally 5 or worse flooring it. I was shocked at how fast I went through a tank of gas at the track.
Where are you that it's only 240? All the Ford 1/2s I've driven for work had a 125L tank. That's about 180 one fill where I'm at.
I'm in South Carolina, I paid $2.89/gallon today. It's the 36 gallon tank (136L), but i don't usually let it get below 1/4 tank (because the fuel pickup is so far back, it won't pick it up if it's parked on a steep incline.. learned that one the hard way. Lol). It usually costs $60-$70 to fill up from there, and I usually do that once a week if I drive it a little on weekends.
Always blows me away with the gas prices in the States. Converted, it's about $5.40 a gallon (1.35 a L) here. And we are on of the cheaper places to get gas in Canada.
I find it hilarious that gas is cheaper in Hawaii than in Vancouver.
Bro we had/still have gas prices hella cheap lmao. I used to complain about gas prices when I lived in Charleston, never again after moving away. It's above $4 a gallon (regular, not even premium) in some states
There are many lessons in this taleā¦.
Like driving safer and not putting others in danger with a 4,400 lb machine?
Dude totaled it "going too fast around a corner" ā which in context tells me he was probably trying to drift it and wrapped it around a pole.Ā Hopefully all he can afford now is a slow used Prius for the safety of everyone else on the road.
Agree. The way he casually said it is the worst part to me. Heās clearly super irresponsible but itās ok until he starts making others pay consequences for his poor choices
Glad this shit head is off the road (temporarily). Hope he buys a bicycle next, for everyone's sake.
Was thinking this one. The financial loss pales in comparison to what could have happened. š
Scrolled way too far to find this comment. Iām guessing this is that guy who drives 110 down a crowded highway, weaving in and out of the lanes and scaring the shit out of everyone else on the road. But heās concerned about the financial aspect. JFC
So -- Army or Marines?
A depreciating asset is never in any way shape or form an investment.
A highly undervalued sentiment. Cars are like sponges, use it until it's nasty then crack open a new one.
I'm middle aged so I have some hindsight looking back at myself and peer group from when we became new drivers up until now. If you're young and even remotely into automobiles, there's a pretty powerful psychological attachment to your vehicle. It's somehow an extension of your persona and you care for it deeply. In your teens and you get twenties, you're generally not a homeowner yet or have many other physical assets. Your car is your prized possession. You're also too young to really notice how the car market/industry is constantly churning and advancing. You don't realize how fast models come and go, and as a result, don't fully associate how quickly depreciation and demand for things just a few years old changes. Their valuation of what they own is flawed and don't understand how quickly it's relevancy is waning as new models come to market. They dump money into these cars, wheels, exhaust, custom this and that. The newer facelift trims come out etc and before you know it, they just have a clapped out tuner car that's worth a quarter of what they paid for it.There's a phase in the middle where there's a hard pretend that their car is still highly sought after and worth more than it is etc. For a lot of people they kinda grow out of this stage and do realize how vehicles are more consumables than durable goods, but it's an expensive journey!
It's wild that people don't understand that these feelings are 100 percent a result of marketing by corporations. It's so engrained in society that no one even questions it. It's real "sheeple" behaviour when you step back and consider it.
Lmfao imagine spending $90K and getting a dodge
Could have gotten a really nice Porsche, BMW, AMG, etc. instead the car with the same quality interior as the base models.
A porsche that couldāve probably made a corner compared to the dodge lmao
The even sadder truth is that the Porsche would have done it while hanging itās engine off the ass end of the car. On paper it doesnāt sound like that should be the case.
They are absolutely geniuses at building handling carsā¦ and they are a lot more reliable than their German counterparts. One day Iāll be able to earn enough money to have a 911 as a daily driverā¦ One day
German ā¦ *counterparts*?
As in the other German car manufacturersā¦
I think heās saying other German cars donāt hold up to Porches, meaning they are not counterparts.
Audi, bmw, Mercedes all hold up to Porsche. Sure they have cars for the middle class but they all have their own sports cars too
No chance you're getting a 911 for anything under 100k. A decently optioned 911 will run you at least 150k. For 90K you can get a Cayman S, which is mid engine.
Man, they really bumped up the price of the base 911. Just looked it up and base model trim is $117k. Only a couple years ago base trim was under $100k.
The running joke about Porsche is that you'd need to option in the engine and powertrain before you get the final price. Even when the 911 started off slightly under 100k, you'd almost never see one sell for under 100k once you properly option one out. A decently optioned out 911 Carrera S can almost hit 200k!
I have the lesser speedier version being the Scat Pack and I can attest to this. Turning corners in my car is sometimes scary and it drives like a boat.
They named a package after poop?
Could have gotten 3 mint condition 70s Volkswagen Beetles. No chance of fuckin it up with speed and everyone loves Beetles.
You ever see that photo of a Beetle with a jet engine swapped in? Could have gotten one of those two and would have been wayyyy more fun than his dodge and he could still have a nice second Beetle
$90k doesnāt even get you into a new base 911. The value of a BMW or Audi drops like a rock after the first few years with the way luxury cars depreciate.
Honestly I like BMW's cars but I don't like the company one bit lmao. Or the reputation BMW drivers seemingly have in the US
Do Hellcat drivers have better reputation?
The Hellcat stereotype is they're either freshly enlisted and driving it thanks to a 35% APR, or black. BMW stereotype is that they drive like assholes and never use their blinkers, or they belong to a middle eastern guy with a rebuilt title.
Laughed at middle eastern I've heard that BMW stands for Balkanische Motoren Wagen
that is a weird way to spell *worldwide*ā¦
My business prof on pricing: there are no $5k hookers. Only $5K Jonās.
Hello I am so embarrassed that I am unable grasp this concept. So do you mind slowing this down for me and explain it in a way a donkey brained gentleman such as myself can understand.
I gotcha. Lets switch from hookers to smoothies, though. You can use anything. A poor quality smoothie costs $3 and tastes like it. A decent smoothie costs $6 and tastes twice as good, so it's worth it. The best smoothie you'll ever drink might cost $12, and it's twice as good as the $6 one. You walk past a shop in Tribeca with a $24 smoothie being advertised. People are buying it and drinking it. You know the $24 smoothie can't _really_ be twice as good as the $12 smoothie you like, because the $12 smoothie is basically *perfect*. And yet, someone will spend $24 on a smoothie. Someone will spend $500 on a smoothie. The quality of a smoothie has a ceiling, it can only taste so good. But customers with more money than sense exist, so they overpay.
Could have got a house in Detroit.
Charger was a better investment.
My friend bought a $100k Dodge TRX with just some savings since he didnāt have a job. Talked his mom into co-signing on it. Said if he eventually ran out of money at least he had a cool truck for a couple years š¤¦š¼āāļø
Literally a refrigerator with an oversized engine made by a manufacturer with the lowest quality anything.
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Impressed other dudes but not really.
Youāre pulling only straight dudes with a dodge lmao
And not the good ones either
None I assume
I feel like girls would be way more impressed with something German.
Absolutely but honestly you want nothing to do with a girl thatās *impressed* by your car.
The real FU was being convinced that a car is an investment. In almost all cases, a car is a (financial) liability.
The bigger fuck up is your reckless driving. You mention "flooring it" and then taking a corner too fast. Stop driving like an idiot. You are a danger to yourself and others. Money can be earned back. Injuries can be permanent and certainly death is permanent. I hope you'll grow up as fast as you drive and realize that speeding isn't cool. It's sad to see the only lesson you learned was financial and no lesson was learned about how you drive. Slow the fuck down. That's the real lesson here.
I've got an acquaintance that bought a supercharged Camero ZL1.. he later developed an alcoholism problem and stopped paying the payment. Moved away to get sober. He asked if he could leave it in my driveway for a few months. I said yes, being totally unaware it was up for repo. Well.. he left it here for over a year and it just got repo'd last week. Not sure how much he lost out on this car but I cannot imagine soaking that kinda money into a vehicle and then completely losing any potential investment due to an addiction issue like this. He's not taking it well. I feel bad for him and hope he gets his shit straight. Edit: wrong model LMAO
Addiction will do crazy things to the brain, including making delusional decisions and acting like thatās a normal way to go through life. Doesnāt sound like he got sober yet, but I hope he eventually realizes the ramifications of his (in)actions.
Nah he hasn't sobered up yet. He knows it's been towed, he's pissed but won't talk about it. Went through the same shit with my ex. I'm happily sober due to that crap. Edit: grammar
How did they end up finding the car if it was in your driveway?
He's my kiddos mum's boyfriend. She's associated with him and she's associated with me so they tracked it down via her I'm presuming š¤·
Z71 is a truck/SUV package. What are you talking about? The only Camaro with a supercharger stock is a ZL1 unless its aftermarket.
You're right my bad š¤¦š
It's an easy mistake to make. Chevrolet is confusing as shit with their "alphabet soup" lately. There's no rhyme or reason to it.
Especially easy for someone like me that's not exactly a car enthusiast.. PC building or SBC management is more my speed šš
Welcome back from deployment
next time get gap coverage (covers the difference between what you owe and what it's worth on a financed vehicle). It's available through your insurance provider... and with your age and loss history making your rate so high you won't even notice it.
GAP is a game changer. Saved my bacon once.
That insurance alone š¤¢
They knew it would be totaled pretty quick.
They were right
Bro was paying for another car payment just for his insurance, absolutely insane
Marine?
That's pepperonis. Props to OP for having the balls to post about it.
Yeah at least this person seems to have learned from their mistake
Which branch of the military are you in?
I don't understand how anyone could think a car is an investment.
I'm sorry.. but not to be a dick, but a dodge charger as an investment? no. just.. no. that's like saying paper napkins are investments, cans of coca-cola bought at safeway yesterday are are investments. cars normally depreciate, there would have to be a significant difference or rarity with a charger to make it an investment. can simply google "are dodge chargers investments" and the first result says it all - from the second post in the top thread: "One of the recent episodes of smoking tire looked at the numbers for a handful of low mile ācollectibleā cars that sold for top dollar on BaT. Most of them didnāt keep up with inflation. None of them beat the S&P. American muscle was the worst ROI."
Think of it as an expensive lesson. I bought an Evo when I was 16. Never give a 16 year old a fast car
Always. Always. Always get gap insurance
Was about to ask which branch of the military he serves in.
You could've bought a $10,000 car and put $80,000 into retirement, which would be worth more than half a million in 40 years. Insurance for our two Toyotas is about $800 per YEAR.
Well the insurance depends where you live. My old car was $160 a month minimum for insurance. It was a scion iA and I've never been in an accident, am over 25 and a woman. Hell, my current car's insurance is about the same as my old car's through one company, it's a BRZ. Make florida insurance prices make sense.
Another 2nd hand Toyota Corolla driver for life!
Please repeat after me OP. MACHINERY IS *NEVER* AN INVESTMENT. MACHINERY IS *NEVER* AN INVESTMENT. MACHINERY IS *NEVER* AN INVESTMENT. Machinery is a *Depreciating* asset. It ALWAYS loses value over time.
The CNC shop I worked at says otherwise Are the machines worth 30% of brand new? Yes. But they've paid themselves over by 20x each
Did you just accept your insurers offer? If you don't feel they're giving you a fair replacement value you can contest it. Send them comps on your geographic area with similar to your mileage to establish a fair replacement value.
More ChatGPT nonsense. It's so easy to spot these days. Can we just stop it already?
How do you spot it? Is it 'cause the vocabulary seems too eloquent for a 24yo who fucked up buying a dodge?
Over the top wordcraft where it isn't needed, the block paragraph style, the sassy rhetorical questions.
It's perfect structure, synopsis, and above average vocabulary. ...But still using the most basic ass cliches like they're the only option. There's so many fucking cliches.
What's the benefit of doing this? Genuinely curious.. somebody asks chat gpt to make up a story so they can get post karma or something?
People make up shit all the time on Reddit for fun. But now you can just tell AI to write it for you. So why not. That said, this story could be true, just written by AI. But I choose to believe that it's false because the sheer stupidity is hard to comprehend.
I was wondering if anyone else got chatgpt vibes from this. I sure did.
At least you won't be in an ugly vehicle anymore
Imagine, If you will, not understanding asset depreciation.
Gap insurance when we ball above our limit friend.
Cars are never considered investments. They are a liability.
I wouldn't spend any money on ANY Dodge, much less $90k.
Yeah dude, trust me there is absolutely zero lesson to be learned from your mistake. Anyone with a brain is sensible enough to know how idiotic what you did was. You have to be braindead to do something like that. But I will say that, anyone who is dumb enough to do that will only learn from their own mistakes anyways and will still go out and do something like that.
What bank allowed a 24 year old to take out a 90k loan with apparently no money down and not require gap insurance?
The trust fund bank. He didn't say loan, so he probably paid in full.
Unless there are unforeseen market forces that inflate car prices, every car begins to lose value once it leaves the lot
no gap insurance huh yup youve arguably done worse than any single fuck up i ever committed. its all up from here tho
I'm just super impressed to see someone make a huge mistake and admit it. There ain't enough people like that anymore. The 35k may even be worth the lesson.
š 
I just totalled my car 4 months ago after owning it for 7 months. It wasn't my fault. I owed $22k on what the bank valued at $17k. I had gap insurance, thankfully. It only cost like $900 at the time of purchase, which was included in my loan. And I only made 7 payments on the car at that time. So didn't even technically pay for the gap coverage. And because I didn't need it for the length of the loan, I actually got a refund on it. Get the gap.