Is this guy crazy or what?

[tzsgti]

Horrible credit but a lot of money down any hope? - CreditBoards

Even to my standards i think this guy is crazy

Had two repoes in one year and is now taking 20k cash that he could use to pay up debt and buying a corvette at 27 precent intrest. BTW his last car that was repoed was a corvette as well.

I want to see what everyone else has to say about this

[snshijuptr]

Well, the repos might be a result of the divorce not bad money planning. They did have a payed off house. I just don't understand why he wouldn't buy a slightly older corvette with the money he has. Financing $9000 on a credit card leads me to believe this is a case of just wanting to get his way.

[tzsgti]

Originally Posted by snshijuptr

Well, the repos might be a result of the divorce not bad money planning. They did have a payed off house. I just don't understand why he wouldn't buy a slightly older corvette with the money he has. Financing $9000 on a credit card leads me to believe this is a case of just wanting to get his way.

My only bills beyond food gas entertainment is about $300 in HOA/Mello Roos fees a month(house is fully paid off but not in my name due to stuff with divorce). Income is $3000 a month, part time job been there for 4 years.

House is not in his name due to the divorce. What if het gets thrown out and has to pay rent. What if he loses his job?

Looking it over it doesnt say he is debt so i dont know if he is. But it sure seems he has no emergency savings at all

[BlackDiamond]

I think there is something very psychological going on here. He's in his 20's and divorced. So he probably feels like he gave up most of his "party days" being a husband (doesn't mention if he's a father also) and now he wants his freedom. And so he wants to waste his money on a shiny toy.

He is being an idiot. $20K in cash is a lot of money. I can't even imagine having $20K in cash at the moment and I'm in my 30's making about the same as him per month. I suppose I could save up $20K in cash within 2 years but I'd rather use it right now to pay off a loan that I have and be completely debt free before taking on any large purchase (car, house etc.).

I guess that is how I differ from him? And my credit score is 770 last I checked. Not 457. If my credit was 457, wow… I can't even imagine that, tbh. If I had 20K in cash fall into my lap, I'd use it to pay off the balance of my personal loan and put the rest in savings. Maybe I'd take the fiance out to a nice steakhouse or buy a nicer than usual bottle of wine or something to get my fun on.

I am also wondering how someone who brings in $3K a month managed to get a house completely paid off that quickly? That seems very odd to me. I work full time and bring home $2442 every 4 weeks + about $400/ mo doing Ebay and I can't imagine paying a house off in a decade. Am I just weird or does that seem odd that a 20-something making a moderate income would have a house paid in full?

[Snodog]

His frame of mind probably isn't the best after a divorce just a few months ago.

But yeah there's no way I would pay 27% interest on any car, including a Corvette.

This coming from someone who has owned 4 Corvettes back in my 20's but I always paid cash and sold them for more than I paid.

[tzsgti]

Then there is this guy.....

HUGE Update. Never going to believe this !!!!

Loses his Senior position in a company. Is forced to sell his old car at a loss right away. But upon receving his job back he goes and buys a car twice ths cost of his old one.

[isralexba]

looks like they are trying to make up for something with buying a flashy car.... in most cases it wont work and they will still feel the same - but with a lot less cash ...