Comments on: My Mother Stole My Car And Got Rid of It http://thebillfold.com/2013/01/my-mother-stole-my-car-and-got-rid-of-it/ Everything About Money You Were Too Polite To Ask Wed, 22 May 2013 03:02:51 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: AlliNYC http://thebillfold.com/2013/01/my-mother-stole-my-car-and-got-rid-of-it/#comment-30766 AlliNYC Tue, 15 Jan 2013 20:26:57 +0000 http://thebillfold.com/?p=21455#comment-30766 @Jeni Vidi Vici I don't actually find this to be true all the time. My mother has been fucked up most of my life, and my father was distant and now he is a cheating low-life... I had a pretty shitty growing-up but I was able to recognize very early on that it WAS shitty, so I didn't put up with it, developed pretty good (although not without flaws) coping mechanisms, and now no longer let my parents' drama bother me. @Jeni Vidi Vici I don’t actually find this to be true all the time. My mother has been fucked up most of my life, and my father was distant and now he is a cheating low-life… I had a pretty shitty growing-up but I was able to recognize very early on that it WAS shitty, so I didn’t put up with it, developed pretty good (although not without flaws) coping mechanisms, and now no longer let my parents’ drama bother me.

]]> By: Markham http://thebillfold.com/2013/01/my-mother-stole-my-car-and-got-rid-of-it/#comment-30617 Markham Mon, 14 Jan 2013 20:30:21 +0000 http://thebillfold.com/?p=21455#comment-30617 @kellyography Quick thought on buying used vs. new: Your new car doesn't technically depreciate by $X or X% as soon as you drive it off the lot, what actually happens is that the dealer isn't going to pay you the car's actual value if you sell it back to them because then how would they make a profit. You "could" sell it private party and get a better deal, but it would take longer to sell it, plus the buyer may not trust you. The point is that you're not technically losing all that value, you just can't access it. Another thought on new vs. old: At some point, no matter how well made the car - you're going to have to spend money on significant repairs. My girlfriend's car hit the ten year mark as of this past summer(mine is 11) and around nine years she had some expensive repairs to make (new Clutch and some other stuff), it's what happens when you rack up well over 100k miles. She bought her car new though. Let's say ten years ago from last summer she bought a car that was three years old. Meaning the nine year 130k miles major repair mark hits in 2008 instead of 2011. Depending on the type of loan she might not have been done paying off the car. Buying used saves you purchase costs, but it makes repair costs happen SOONER + you don't know how the last owners took care of the car. The new Corolla probably cost her about $18k or so, but will last longer and there was less risk of her having repair costs when she was in school. Buying say a 2-3 year old one would've saved her a few grand and made those repairs happen sooner. There are pluses and minuses for both options. If I were to help my child finance a car for school it would be new or very low mileage used, I wouldn't bother with the $5-$10k range as it's just going to have repair costs that one of us has to pay for later. I'd rather my child have say 5-7 years of worry free driving than say 3-5, especially if the former means I don't have to help pay the repair bills. I went and looked up a Toyota dealership near me and a 2012 Corolla with 4k miles on it is going for $20k and a 2010 with 28k miles on it is going for $16k, the new ones are going for $19-$21k. Those cars aren't losing $5k as soon as you leave the lot if a 1 yr old model with $4k miles on it is selling for within $2k of what it would sell for new, and a 3 year old model with 27k miles on it is selling for within $4k. A lot of the ideas around how fast cars depreciate and what aren't always true, particularly for foreign cars. @kellyography

Quick thought on buying used vs. new:

Your new car doesn’t technically depreciate by $X or X% as soon as you drive it off the lot, what actually happens is that the dealer isn’t going to pay you the car’s actual value if you sell it back to them because then how would they make a profit. You “could” sell it private party and get a better deal, but it would take longer to sell it, plus the buyer may not trust you.

The point is that you’re not technically losing all that value, you just can’t access it.

Another thought on new vs. old:

At some point, no matter how well made the car – you’re going to have to spend money on significant repairs.

My girlfriend’s car hit the ten year mark as of this past summer(mine is 11) and around nine years she had some expensive repairs to make (new Clutch and some other stuff), it’s what happens when you rack up well over 100k miles.

She bought her car new though.

Let’s say ten years ago from last summer she bought a car that was three years old.

Meaning the nine year 130k miles major repair mark hits in 2008 instead of 2011.

Depending on the type of loan she might not have been done paying off the car.

Buying used saves you purchase costs, but it makes repair costs happen SOONER + you don’t know how the last owners took care of the car.

The new Corolla probably cost her about $18k or so, but will last longer and there was less risk of her having repair costs when she was in school.

Buying say a 2-3 year old one would’ve saved her a few grand and made those repairs happen sooner.

There are pluses and minuses for both options.

If I were to help my child finance a car for school it would be new or very low mileage used, I wouldn’t bother with the $5-$10k range as it’s just going to have repair costs that one of us has to pay for later.

I’d rather my child have say 5-7 years of worry free driving than say 3-5, especially if the former means I don’t have to help pay the repair bills.

I went and looked up a Toyota dealership near me and a 2012 Corolla with 4k miles on it is going for $20k and a 2010 with 28k miles on it is going for $16k, the new ones are going for $19-$21k.

Those cars aren’t losing $5k as soon as you leave the lot if a 1 yr old model with $4k miles on it is selling for within $2k of what it would sell for new, and a 3 year old model with 27k miles on it is selling for within $4k.

A lot of the ideas around how fast cars depreciate and what aren’t always true, particularly for foreign cars.

]]> By: eemusings@twitter http://thebillfold.com/2013/01/my-mother-stole-my-car-and-got-rid-of-it/#comment-30422 eemusings@twitter Fri, 11 Jan 2013 23:53:55 +0000 http://thebillfold.com/?p=21455#comment-30422 This is so awful and I'm so outraged on your behalf. This is so awful and I’m so outraged on your behalf.

]]> By: Dont Move to Finland http://thebillfold.com/2013/01/my-mother-stole-my-car-and-got-rid-of-it/#comment-30416 Dont Move to Finland Fri, 11 Jan 2013 23:33:34 +0000 http://thebillfold.com/?p=21455#comment-30416 @kellyography I think her Step-Dad & Dad who lent the money, insisted in a well-meaning safer this way step. @kellyography I think her Step-Dad & Dad who lent the money, insisted in a well-meaning safer this way step.

]]> By: Theda Baranowski http://thebillfold.com/2013/01/my-mother-stole-my-car-and-got-rid-of-it/#comment-30410 Theda Baranowski Fri, 11 Jan 2013 23:15:46 +0000 http://thebillfold.com/?p=21455#comment-30410 @kellyography I think that was the strings that the parents put on providing the down payment. I know it was the strings that were put on me buying one. I ultimately ended up getting a job somewhere where I could go without a car, so the point was moot. @kellyography I think that was the strings that the parents put on providing the down payment. I know it was the strings that were put on me buying one. I ultimately ended up getting a job somewhere where I could go without a car, so the point was moot.

]]> By: kellyography http://thebillfold.com/2013/01/my-mother-stole-my-car-and-got-rid-of-it/#comment-30401 kellyography Fri, 11 Jan 2013 22:51:33 +0000 http://thebillfold.com/?p=21455#comment-30401 What the writer's mom did was unfathomable, but I don't understand why a cheaper, used car couldn't have been purchased to replace the Mazda? The writer even mentions that the value of the car depreciated in value as soon as she drove it off the lot, so, why not just take that money and purchase a car that's a year or two older? I just can't imagine trying to pay off law school as well as undergrad loans and credit card debt, and taking on 20K more in debt just to have a brand-new car. What the writer’s mom did was unfathomable, but I don’t understand why a cheaper, used car couldn’t have been purchased to replace the Mazda? The writer even mentions that the value of the car depreciated in value as soon as she drove it off the lot, so, why not just take that money and purchase a car that’s a year or two older? I just can’t imagine trying to pay off law school as well as undergrad loans and credit card debt, and taking on 20K more in debt just to have a brand-new car.

]]> By: olivia http://thebillfold.com/2013/01/my-mother-stole-my-car-and-got-rid-of-it/#comment-30397 olivia Fri, 11 Jan 2013 22:36:01 +0000 http://thebillfold.com/?p=21455#comment-30397 @julebsorry Agreed. I think the appropriate response would have been to not go there for Xmas ever again. Unless the mother was actually you know, sorry. Wish we had more details! @julebsorry Agreed. I think the appropriate response would have been to not go there for Xmas ever again. Unless the mother was actually you know, sorry. Wish we had more details!

]]> By: Jeni Vidi Vici http://thebillfold.com/2013/01/my-mother-stole-my-car-and-got-rid-of-it/#comment-30385 Jeni Vidi Vici Fri, 11 Jan 2013 22:00:12 +0000 http://thebillfold.com/?p=21455#comment-30385 @megsy As someone whose mom has serious issues, growing up in a majorly dysfunctional family doesn't exactly endow you with good boundaries, typical assumptions of how "normal" relationships work or the ability to stick up for yourself. Maybe this was one weird incident and her mom is otherwise normal, but I doubt it. It's hard to teach yourself to demand that others treat you decently if you grew up with a wacked out family dynamic. @megsy As someone whose mom has serious issues, growing up in a majorly dysfunctional family doesn’t exactly endow you with good boundaries, typical assumptions of how “normal” relationships work or the ability to stick up for yourself. Maybe this was one weird incident and her mom is otherwise normal, but I doubt it. It’s hard to teach yourself to demand that others treat you decently if you grew up with a wacked out family dynamic.

]]> By: blueblazes http://thebillfold.com/2013/01/my-mother-stole-my-car-and-got-rid-of-it/#comment-30380 blueblazes Fri, 11 Jan 2013 21:28:46 +0000 http://thebillfold.com/?p=21455#comment-30380 Seriously. If you sent this story to Dear Prudence, she'd tell you to get your mom screened for dementia. What is it with moms and the martyr complex? Seriously. If you sent this story to Dear Prudence, she’d tell you to get your mom screened for dementia. What is it with moms and the martyr complex?

]]> By: julebsorry http://thebillfold.com/2013/01/my-mother-stole-my-car-and-got-rid-of-it/#comment-30366 julebsorry Fri, 11 Jan 2013 20:21:27 +0000 http://thebillfold.com/?p=21455#comment-30366 @deepomega Yeah, seems like it paid off for her, right? Act like a smug, selfish brat and get attention. Reminds me of my MIL (oh did I say that out loud umm) @deepomega Yeah, seems like it paid off for her, right? Act like a smug, selfish brat and get attention. Reminds me of my MIL (oh did I say that out loud umm)

]]>