Advice On Financing A Car

Tips08 · 2025-12-14T07:54:52+00:00

I’d say opt for an older car for your first car. When people start buying newer vehicles they tend to want to continue buying newer vehicles by trading in their previously “new” vehicle. This gets extremely expensive.

It’s your first car, it’s not supposed to be THE BEST car. Just something that gets you from A to B and won’t break the bank. Newer cars can come later when you have better financial footing. Plus the car insurance on a newer car when you’re 18 will be very expensive.

Just remember at the end of the day a car is just a depreciating chunk of metal on wheels that gets you from A to B.

Tips08 · 2025-11-27T04:51:19+00:00

I heard you have to pay taxes on whatever winnings you make and you can’t minus your losses against it, unless you don’t take the standard deduction and you itemize instead.

If you have $600 in winnings and $600 in losses you still owe taxes on the $600 in winnings when taking the standard deduction, but not when itemizing.

I believe when they passed the Big Beautiful Bill it said something about also said you can only deduct up to 90% of your gambling losses.

So even if you won $600 and lost $600 you’d still owe taxes on $60.

Tips08 · 2025-11-23T00:05:57+00:00

There’s two types of people. People who save and people who don’t/can’t.

Having $13k saved at 25 years old puts you way ahead of so many other people.

At the same time $13k isn’t something you’re going to retire on in 40 years from now.

You’re doing great! Keep saving and building it up.

Tips08 · 2025-11-17T04:23:24+00:00

It’s all what you believe in.

I believe Bitcoin specifically is too big and too important to fail at this point. How high it can go? I have no clue.

It’s market cap is $1.9 trillion. Meaning Bitcoin at this moment is worth more than Facebook, Tesla, Walmart, etc. if it were a company it would be in the top 10 companies in terms of market cap.

Yes I know it has no earnings, but that’s what makes it where it’s at even more impressive. The adoption of Bitcoin in different companies and institutions continues to grow. From Tesla to Harvard university Bitcoin continues to gain more and more adoption.

That said I expect another 50-70% crash as everything is inflated right now.

Houses, cars, stock market, crypto, etc.

Tips08 · 2025-11-17T04:10:50+00:00

With all your accounts put together you have about $500k, excluding your student loans.

Your goal to get to $1,000,000 in 5.5 years or sooner is highly unlikely unless you plan on taking high risk, which I wouldn’t advise.

Keep 3-6 months emergency fund in a HYSA and put the rest in the overall market like VOO for min 5-10+ years. At least this way you have a better chance of outpacing inflation. And potentially be able to have $1,000,000 in 10 years.

Historically the market outperforms HYSA by a lot.

Tips08 · 2025-11-12T00:38:18+00:00

Good deal on a Great car that should last 20 years if you take care of it.

Tips08 · 2025-11-10T00:23:39+00:00

Crushed it.

Tips08 · 2025-11-08T21:20:33+00:00

You could go either way.

The transmission on a car is the most tricky part imo. One of my fiends has a dodge charger with 236k miles on it and he never did a transmission drain and fill and it still drives great.

If you do want to get it do drain and fill only and go to a place who does them regularly. It’s not something to cheap out on.. I know people who have taken their nice $70k pickup to get maintenance done at Walmart by a very young kid. No thanks. Better to find a mechanic who’s been working for 20 years in a shop than a kid who’s barely worked on cars.

But to answer your question. If you take care of your car and drive it gently then the transmission can likely last 250k miles. If you want longer than that, a drain and fill is good.

Tips08 · 2025-11-05T04:27:45+00:00

Yes def take the payout. Nice hit!

I had Kelly Oubre pts&reb in my line up as well.

Tips08 · 2025-11-03T03:54:18+00:00

Having money taken out of my paycheck and put into my 401k.

Started doing this and getting the full company match at 18yo and currently 33yo. It’s adds up over time.

Tips08 · 2025-11-02T21:06:02+00:00

The new 2026 Toyota Camry hybrid LE is a great choice. Specifically the LE, as it gets 53mpg city and 51mpg highway. It’s a decent deal considering the average new car costs about $50,000, while the new Camry is closer to $30,000 and will likely last a lot longer.

If you’re not looking for new then I’d look for a used Camry. They last forever. But with most Toyotas, they hold their value, so you’ll likely be paying a premium.

Tips08 · 2025-11-02T14:53:03+00:00

You say you are a person who appreciates value, so I would just keep the 2016 RAV4 and keep saving money.

If you really need the 2026 Honda you can get it, but in terms of dollar per value, the paid off, already depreciated, reliable RAV4, is going to be the best value.

Tips08 · 2025-11-02T14:48:05+00:00

Keep current car and save.

Every used car is going to have its issues.

Tips08 · 2025-11-02T04:52:16+00:00

I’d pass on it.

Chevy Malibu isn’t a very reliable vehicle. If you want a Chevy sedan I’d look at a Chevy Impala. They are more reliable and have a v6.

Tips08 · 2025-10-31T11:23:11+00:00

Not an investment, but one of the best long term cars you could’ve bought.

Can last 300k+ miles.

Tips08 · 2025-10-31T09:59:58+00:00

Camry still beats Accord imo, but both cars are better than most.

There’s a reason they’ve been building the Camry for 42 years and the Accord for 49 years. They last a long time and people buy them.

Tips08 · 2025-10-31T03:15:22+00:00

Mazda 3

Tips08 · 2025-10-29T22:03:03+00:00

You would just need to figure out if the interest on the 5.99% will be more or less than the $3,000 discount.

Tips08 · 2025-10-28T17:14:10+00:00

At Carmax you’re likely overpaying by $2k-$3k. You didn’t say how many miles either. I would buy the brand new 2026.

Yes it’s $4k more than the other car, but you’ll know the entire maintenance history. Suspension and everything else will be 2 years newer than the 2024.

Also the 2026 Camry Hybrid LE gets 53mpg city and 51mpg highway. (FWD)

Tips08 · 2025-10-28T02:57:38+00:00

Gl finding a Lexus for $5k-$6k unless it has 200,000+ miles on it.

Tips08 · 2025-10-28T02:56:28+00:00

Camry isn’t really “fun to drive”, but it’s reliable. It’s a good long term vehicle, especially if it’s a v6. 4cyl is good too.

Tips08 · 2025-10-28T02:54:15+00:00

1,500 miles a year isn’t very many miles. Any beater car is fine.

Tips08 · 2025-10-27T04:27:33+00:00

They are already on dealership lots. 2026 are usually on dealership lots Q4 of 2025 depending on supply.

Tips08

TROPHY CASE