Niggercattle finance - Kiwi Farms' Caleb Hammer Moment

[Seething Troon Collector]

25k loan with 28% APR for a 2008 Toyota

Okay, so, assuming sales tax and numerous fees are not included. It's just $25,000. For argument's sake, I amortized the loan over 72 months (what bank would underwrite a loan on a 16 year old car? Probably a lot. Why? Because people are fucking retarded).

The monthly payment is $576.14. Sounds great right? Wrong! That loan, taken to maturity, will wind up costing $21,481.79, just in interest. Congrats retard, you just paid $41,481.79 to leverage $25,000.00 on an asset that is likely worth about $5,000.

I'm not a fan of Dave Ramsey, he's a massive faggot that grifts stupid people, but I have to admit that some of his more basic advice makes a lot of sense and there are a lot of people that can benefit from taking it.

 

[Sayer of the N-Word]

I don't know why people who are up to their neck in debt don't just wash their hands of it and either temporarily nuke their credit by being a deadbeat borrower and stop paying (If they're threatening you with court you can always settle for pennies on the dollar) or declare bankruptcy rather than scrape by living like a pauper paying that debt off.

Also the glamorizing struggling in poverty (Love the beans and rice comment in OP's post) from Dave Ramsey type retards gets seriously fucking old.

The problem with that is that you run into credit checks in unexpected places, like on job applications. Getting car loans, mortgages, trying to rent a home, these all can involve credit checks. Bankruptcy is definitely the way to go for people who've racked up massive debts that they'll never be able to pay back, but The System can punish you in many ways for trying to slip away from its grasp and it's something you need to take into account if you aspire to a materially rich life, and especially if you have or plan to have kids within the next few years.

 

[Ughubughughughughughghlug]

DSP's weens were so obnoxious and made such a nuisance of the whole proceeding that the Judge, IRS, and banks all agreed to just wipe his debts free with barely any consequence to DSP. Total pig victory, he's a finance savant.


White people have pride and don't like taking handouts unless they desperately need them.

Not a handout and I wish people would get that in their heads.

Unemployment INSURANCE.
Paid for by TAXES.

Of course a huge chunk of the public ultimately gets more back in taxes after the returns than they pay in, but economic theory shows at least some of the tax always gets passed along - always winds up hurting both the consumer and producer - and regular people pay every other tax under the sun.

There is nothing wrong with someone drawing from a service that they are FORCED to pay for. Its the fault of the legislators and those that pay for them if some people find ways to exploit it.

 

[NoReturn]

The problem with that is that you run into credit checks in unexpected places, like on job applications. Getting car loans, mortgages, trying to rent a home, these all can involve credit checks. Bankruptcy is definitely the way to go for people who've racked up massive debts that they'll never be able to pay back, but The System can punish you in many ways for trying to slip away from its grasp and it's something you need to take into account if you aspire to a materially rich life, and especially if you have or plan to have kids within the next few years.

Credit checks AND MONEY.
So let's say you want to apply for three different apartments in...

Fucking Scottsdale? Ok, I guess.
The median income in Arizona is apparently $65,913, but let's be generous since apparently the median income for Scottsdale is a whopping $97,409. So let's pretend our hypothetical person got a good job and is making $80,000 gross.
($80,000/12)*.3 = Boomer rent of $2000, and Millennial/Zoomer rent of $3000

If I go on Zillow and spot check a couple apartments under $3k/month, we find (as expected) most of them have application fees, and the ones that don't say "Contact for information"
e.g.


So our hypothetical apartment-hunter will get their credit checked for:

1. His job that got him the $80,000 in the first place (Soft pull)​

2. His apartment application (Hard pull)​

3. The background check for the apartment application (Separate soft pull)​

What if he doesn't have cash in hand to pay the apartment application fee + deposit + first and last all at once? Well he'll need to take on debt, and if that's in the form of a new credit line, then that's another credit pull. So:

4. Credit card application or credit limit increase on an existing card​

 

[Darkholme's Dungeon]

I just moved into my first apartment and I realized that I spent upwards of $100+ on food per week. It was a wake up call.

You better be eating all organic, no glyphosate, no GMO, no steroid everything with fucking olive oil by the gallon at that rate lol.

I saved my money by having only $500 in my checking account and saved everything else when paycheck hit. Then I get asked by people older than me, completely baffled, how I have so much money now.

That's just human nature, you should see the tards down in ag work. Many a times someone comes in looking pissed as fuck and then bitch at the manager "I don't earn enough to feed myself" and the manager responds "Well maybe you should show up for more than 3/5 days a week".

Americans love to financially die on their car costs. I'm convinced its probably as bad if not worse of a debt trap than ccs. Not only do they take out large loans which eat at their savings, but insurance and repairs get worse as you get nicer and nicer cars. And once you recognize that most "luxury" cars are just shitty brands with a rebranded badge it becomes more absurd. Cars are only cool if there's a story other than 'I bought it last year at the dealership for 10% over msrp'.

I know a guy that spent 130k on a jaguar (Tata lol) as a mid life crisis spend. Even if you're an engineer like him that's pretty dumb and pathetic.

Blame cash for clunkers. The options now are:
1) Get fleeced for a new car which shouldn't blow up be 100k
2) Buy a used car and hope it wasn't someone else's problem
3) Get lucky and find a barn find and work on it
4) Build from salvage
5) Buy someone's else's problem "mechanic special" or what I like to call, "methhead special"

1 costs a shit ton
2 is 5 with a dice roll.
3,4,5 all require skill and time.
A lack of money/time means you compensate with money. I have much more respect for someone who restores an old ass car for themselves than the guy who buys a S serries. Mercedes new off the lot and can't change his own oil/brakes.

Thread tax:
For all y'all folks complaining about the military crayon eaters. Wanna know why the illegals are driving brand new high end pickups sometimes?
Well, they aren't legal sometimes with a fake identity, and you can't really bump their pay up by not paying SS tax/healthcare (which they wont use anyways) otherwise the feds (IRS) will notice. So instead they "gift" them high end trucks that were "lightly" used for farm work (yep) like a 2500 HD ZR2 for them to use or a Powerstroke 3.0 F series top of the line. Said folks then deck it out with high end stereos n' sheet from the local legal hispanic, proceeds to get fleeced on a usurious loan, then goes claims bennies.

 

[POWER IN MISERY]

The monthly payment is $576.14. Sounds great right? Wrong! That loan, taken to maturity, will wind up costing $21,481.79, just in interest. Congrats retard, you just paid $41,481.79 to leverage $25,000.00 on an asset that is likely worth about $5,000.

this was the exact conversation i had but the amount of shit some people just won't listen to can be only described as impressive

 

[Darkholme's Dungeon]

this was the exact conversation i had but the amount of shit some people just won't listen to can be only described as impressive

I don't recall much of home ec class, but sometimes I wonder if taking that class out (or teaching it horribly, at least the finance portions) was deliberate.

 

[General Disarray]

Back in the day I was working my first Big City job, and a friend of mine was a rich daddy's girl and had a paralegal position with a very prestigious law firm who filed bankruptcy.

We both went into the same shop to look at recumbent bikes, as they were all the rage at the time. And expensive. Guess who walked out of the shop with approved credit? Not me.

When you file BR, you are prohibited from filing again for X number of years. Which means that you are inundated with credit offers. Of course with a ridiculous APR. Myself, I am totally clean credit and pay my 2 CC balances every month now. But you can be assured that as my age advances and I get into my 70's I am gonna start charging mad shit on my cards and pay only the minimum. I'm gonna die sooner than later at that point, and plan to go out with zero assets and debt up the wazoo. Maybe on a cruise ship, who knows? No kids so fuck it.

 

[Big Brown Schlub]

Americans love to financially die on their car costs. I'm convinced its probably as bad if not worse of a debt trap than ccs. Not only do they take out large loans which eat at their savings, but insurance and repairs get worse as you get nicer and nicer cars. And once you recognize that most "luxury" cars are just shitty brands with a rebranded badge it becomes more absurd. Cars are only cool if there's a story other than 'I bought it last year at the dealership for 10% over msrp'.

I know a guy that spent 130k on a jaguar (Tata lol) as a mid life crisis spend. Even if you're an engineer like him that's pretty dumb and pathetic.

It's not just an American thing. While at uni I worked 6 months as a runner in a car lot where my uncle works as a salesman and the shit I saw was fucking wild. The reason why all of those retarded car sales pitches are put in movies is because they fucking work, no matter how fucking dumb. Fuck, the smarter someone is the easier it is for them to fall for the dumbest shit. It's like whenever someone steps foot onto a car dealership's property their IQ drops by 50 points. My uncle got some guy who works in IT and just got a job as a senior dev to give away 1/3 of his paycheck to his car payment because my uncle grinded him so much he convinced him that if he buys that Mercedes and shows up to the company's parking lot in it everyone in his new company will be like "Whoa! Who is this high roller? Is he the new CEO?"

 

[No Batty Boys in Jamaica]

So what the fuck is his problem?
Alcohol.
Whores.
Gambling.

Fucking based. Here I am abstaining from all three like a chump. I should take the Vice pill.

 

[Drip Torch]

I think some of it could be attributed to not being used to being given gibs. It is rare that a normie white guy gets gibs in his life. At all. When it happens, the white guy thinks "I didn't need it before, I'll get through this". He doesn't know how to handle it, so tries toughing it out.

Depends on location and milage may vary. Been in many a rural area where, if you leave anything of value in the open, it will disappear. It aint niggers either doing the stealing, its your white trash neighbor and his white trash neighbor too. Dont bother calling the police either, they are the thieves family.

 

[JohnnyG]

Depends on location and milage may vary. Been in many a rural area where, if you leave anything of value in the open, it will disappear. It aint niggers either doing the stealing, its your white trash neighbor and his white trash neighbor too. Dont bother calling the police either, they are the thieves family.

While this technically happens in God's country as well as urban hellscapes, there's at least an order of magnitude of difference in frequency/risk.
- In blue Prog cities, if anyone leaves anything anywhere for a single night, it will be gone.
- In rural areas, you have a couple shitbirds everyone knows about, and if you and all your family and friends leave your cars unlocked every day for years on end, one of you might eventually have something stolen.

Saying "welp I guess it happens everywhere" ignores the fact that in one place the default condition is trust, while in the other there's an expectation that everything not chained down will immediately disappear. You spend 10x the energy in the latter making sure to never relax, while the former has 10x the opportunity yet 1/10th the crime.

 

[Drip Torch]

While this technically happens in God's country as well as urban hellscapes, there's at least an order of magnitude of difference in frequency/risk.
- In blue Prog cities, if anyone leaves anything anywhere for a single night, it will be gone.
- In rural areas, you have a couple shitbirds everyone knows about, and if you and all your family and friends leave your cars unlocked every day for years on end, one of you might eventually have something stolen.

Saying "welp I guess it happens everywhere" ignores the fact that in one place the default condition is trust, while in the other there's an expectation that everything not chained down will immediately disappear. You spend 10x the energy in the latter making sure to never relax, while the former has 10x the opportunity yet 1/10th the crime.

I've heard this before, but it doesn't match up to what I have experienced real world, rural or city. Like being told by conservatives that a city and mayor I worked for was Democrat run, when in reality its been firmly Republican lead for the past 22 years. It was and still a crime infested shithole.
Not to mention the vast amount of methed up hillbillys, in ever other holler, who are white.

It's never as black and white as we want to think it is or how the media wants us to believe, whatever your journo poison of choice is.

 

[Darkholme's Dungeon]

when in reality its been firmly Republican lead for the past 22 years. It was and still a crime infested shithole.

Generally anyone in power for too long leads to this shit, democrat, republican, or just plain out nepotism.

 

[WelperHelper99]

Depends on location and milage may vary. Been in many a rural area where, if you leave anything of value in the open, it will disappear. It aint niggers either doing the stealing, its your white trash neighbor and his white trash neighbor too. Dont bother calling the police either, they are the thieves family.

While this technically happens in God's country as well as urban hellscapes, there's at least an order of magnitude of difference in frequency/risk.
- In blue Prog cities, if anyone leaves anything anywhere for a single night, it will be gone.
- In rural areas, you have a couple shitbirds everyone knows about, and if you and all your family and friends leave your cars unlocked every day for years on end, one of you might eventually have something stolen.

Saying "welp I guess it happens everywhere" ignores the fact that in one place the default condition is trust, while in the other there's an expectation that everything not chained down will immediately disappear. You spend 10x the energy in the latter making sure to never relax, while the former has 10x the opportunity yet 1/10th the crime.

I've heard this before, but it doesn't match up to what I have experienced real world, rural or city. Like being told by conservatives that a city and mayor I worked for was Democrat run, when in reality its been firmly Republican lead for the past 22 years. It was and still a crime infested shithole.
Not to mention the vast amount of methed up hillbillys, in ever other holler, who are white.

It's never as black and white as we want to think it is or how the media wants us to believe, whatever your journo poison of choice is.

Yes I know white trash neighborhoods exist. That's why it's called white trash. That doesn't change the fact that programs are never advertised to white dudes. As for the thief problem, that's what a shotgun is for.

 

[wtfNeedSignUp]

A dude in my village flips cars for a living. He's a genius when it comes to cars and how to fix them but he's a fucking retard in every other sense. I've only recently found out how insane his profit margins are after talking to him and the dude is so fucking retarded even he doesn't realize how much money he makes. This is a corrupt shithole Eastern European country I'm talking about and he clears more in a year than a minister (and that includes bribes). He lives in a small run down house that reeks of mold, wears old cheap shitty shabby clothes and eats fucking canned fish and beans when he could've easily have been set himself and his grandchildren up to not worry about anything. Even without investing the money, just by doing what he's doing until retirement.

So what the fuck is his problem?
Alcohol.
Whores.
Gambling.

He squanders 90% of what he makes on that, no exaggeration, which is why he lives like someone who is below the poverty line.

The irony is that if the dude was smart enough to make good economic decisions he would probably have been in a line of work that gave him a lot less money.

 

[Drip Torch]

Generally anyone in power for too long leads to this shit, democrat, republican, or just plain out nepotism.

The whole city is a shitshow. Plenty of nepotism. Council members getting to fist fights, calling each other nigger. ON VIDEO! I was regularly put in a position where various politicians would direct me to break my ethics. I did spend gov money that I know for a fact was not approved by the city council.

I don't give a shit who your fav politician is, who you vote for. Fuck them, fuck all of them.

In case you are curious, the previous mayor, a republican was the longest serving woman mayor in Alabama and the US. Current mayor is, guess what? Republican.

My point is, do the foot work. Get involved if just to hold them accountable. You want your tax dollars spent wisely? Do something about it.

 

[Sayer of the N-Word]

Blame cash for clunkers. The options now are:
1) Get fleeced for a new car which shouldn't blow up be 100k
2) Buy a used car and hope it wasn't someone else's problem
3) Get lucky and find a barn find and work on it
4) Build from salvage
5) Buy someone's else's problem "mechanic special" or what I like to call, "methhead special"

Buy a new car, buy a used car, or rebuild a wreck. What were the options that cash for clunkers took from us?

 

[-VorpalAnvil-]

Buy a new car, buy a used car, or rebuild a wreck. What were the options that cash for clunkers took from us?

King nigger gave people tons of good goy shekels at very favourable prices to turn in for destruction perfectly good used cars, it killed the used market and drove up the prices of used parts as well. The cars werent just part of a vote buying scheme that also caused more money printing, the cars literally had to be rendered inoperable. They effectively blew up the motors.

 

[Darkholme's Dungeon]

Buy a new car, buy a used car, or rebuild a wreck. What were the options that cash for clunkers took from us?

Engine disablement. Yes, the cars have shit milage by modern standard but:
1) It costs more to destroy, build new, ship more cars
2) Some people are poor enough to only afford buying a shitbox like those
3) Sometimes I just need an old ass car to move shit around I use like 5 times a year (*cough* old OBS diesels or V8s).