Buying a New Car - Financing and Such

[tighr]

Someday, I'll NEED to go on a Caribbean cruise, so I may take out another $7,000.

I know (or hope) you were being tongue-in-cheek, but I've been on several Caribbean and Mexican Riviera cruises, and I've never spent anywhere near $7,000. More like $500-$1000 for a 8-day cruise, plus alcoholic beverages!

I also was just in Vegas this past weekend (real easy to do when it's only 3 hours away), and the whole weekend cost me less than $1000.

I also paid for those vacations out of pocket. If I couldn't afford them, I wouldn't have gone.

 

[Gryffindorian]

Well then you've got to tell me where/how you book your vacations. They're certainly not cheap. A three-night Vegas trip (airfare + hotel + car rental) start at around $1,000 for two, and that doesn't even include dining, shopping, and entertainment. Cirque du Soleil shows cost about $100 per person.

 

[the 4th hanson bro]

I have to say that borrowing from a 401(k) or other qualified retirement plan is quite possibly one of the worst financial decisions one could make.

Sure, it's your own money, and you're paying yourself back, but there's cheaper and smarter ways to borrow.

Just to throw a scenario out- how secure is your job? What would happen if it were eliminated and you got laid off? Any loan balance in your 401(k), if you didn't pay it off - and if you could pay it off, you wouldn't have needed to borrow it in the first place- will be treated as an early distribution subjecting you to not only taxes, but also a 10% early withdrawal penalty.

Just something to think about.

 

[RoJoHen]

I have to say that borrowing from a 401(k) or other qualified retirement plan is quite possibly one of the worst financial decisions one could make.

I know a guy who has declared personal bankruptcy on 4 separate occasions just to get out of paying off his credit cards.

 

[the 4th hanson bro]

He keeps it up, he'll never be able to get credit.

 

[RoJoHen]

I'm surprised he still manages to qualify for anything at all.

 

[Lindley]

You've got it all wrong, buddy. I only borrow when I need to, like the time I NEEDED to go on vacation to Las Vegas!!! Someday, I'll NEED to go on a Caribbean cruise, so I may take out another $7,000.

$7000 will get you a week at a 5-star resort in the Maldives on its own island including airfare for two. Discounted Caribbean cruises for a week can sometimes cost you less than the airfare to Miami. (That's not true during the holidays, of course.)

 

[Admiral Buzzkill]

^Would you have enjoyed them more if they were new? Or was it just that you didn't enjoy the model of car?

They were compromises in many respects, and generally not very interesting.

When I buy another new car it's going to be exactly what I want.

 

[Captain Ice]

Well then you've got to tell me where/how you book your vacations. They're certainly not cheap. A three-night Vegas trip (airfare + hotel + car rental) start at around $1,000 for two, and that doesn't even include dining, shopping, and entertainment. Cirque du Soleil shows cost about $100 per person.

If you read his post again and read it carefully, you'll note that he says that Vegas is "only 3 hours away", which tells me that he lives close enough to Vegas that he can drive his own car there. Take out the airfare and the car rental and Vegas gets ridiculously cheap.

For that matter, I've lived in Vegas. A rental car on a Vegas vacation is a complete waste of money. Most everything that one would want to do in Vegas on a vacation is within walking distance from any hotel on the strip. For those that are not, cabs are available and a one-day rental vehicle is easy to get.

When I go to Vegas, I usually drive (5hr drive) and my car remains pretty much parked for the entirety of my stay.

 

[tighr]

Well then you've got to tell me where/how you book your vacations. They're certainly not cheap. A three-night Vegas trip (airfare + hotel + car rental) start at around $1,000 for two, and that doesn't even include dining, shopping, and entertainment. Cirque du Soleil shows cost about $100 per person.

Carribbean Cruise: straight from the source, www.carnival.com. Deals can also be had through travel agents. Book anytime from Labor Day - Memorial Day (don't worry, the weather is great in the Carribbean and Mexico during the winter) excluding holidays. You'll find 7 day cruises in interior cabins for around $400/person. Stay away from summer time and holidays, because that's when families with kids are able to take vacations, and you don't want to A) pay the inflated peak season rates, or B) hang out with kids all week.

Airfare is on your own, but if you live in California you can drive to the port or park at a friend's house nearby, which is what we do. Like I said, the last time I went to the Carribbean I bought a $400 plane ticket to Ft. Lauderdale and spent $450 for my half of the room. This was the week before Thanksgiving.

Las Vegas: You're doing it wrong if you're renting a car. I drive in since I live close, but I could just as easily fly in and get a private limo from the Hotel, usually for free or cheap. Once my car hits the parking garage Friday afternoon, I don't see it again until Sunday night. If you're staying on the strip, you will NEVER need your car. If you gotta fly, that sucks, but flights to Vegas are among the cheapest flights to and from anywhere in the world.

For the hotels, join a players club and add up points from your gambling. If gambling isn't your thing, check out groupons or other discounted rates. Get on the casino's mailing list, and they'll send you discounted weekend rates a lot of times. I have stayed at hotels like the Planet Hollywood and the Mirage for damn near free before.

Cirque du Soleil and other Vegas shows: Same deal. Book online in advance for discounted rates. $100 is actually a great price for a show when you consider the fact that you could lose $100 in 20 minutes at a blackjack table.


Just like when you're buying a car, if you don't do your research then you're going to get hosed. Do your research, deals are out there, and don't get taken advantage of.

 

[Warp Coil]

Well then you've got to tell me where/how you book your vacations. They're certainly not cheap. A three-night Vegas trip (airfare + hotel + car rental) start at around $1,000 for two, and that doesn't even include dining, shopping, and entertainment. Cirque du Soleil shows cost about $100 per person.

I was in Vegas in mid-March. Airfare plus three nights in the Bellagio for 2 people cost roughly $1200. Yes, you still have to factor in cost for food, gambling, and entertainment. But there were tons of cheaper packages... I am just picky about hotels and demand high-end accommodations.

I am going to the Dominican Republic for three nights in mid-June. The entire package (airfare and the stay at an all-inclusive resort) is running under $1000 per person. So you can definitely travel to the Caribbean for a reasonable rate.

 

[Gryffindorian]

Thanks. It's either Vegas or San Diego this summer, and I usually go in August when hotel rates in Sin City tend to be cheaper.

 

[tighr]

One more thing about Vegas: Unless you are going with a significant other (and thus, would appreciate the privacy), you are rarely in the hotel room. There is so much to do that you literally only use the room for sleep. It can be cost effective to cram as many friends into a room as you possibly can, and split the costs.

Sometimes, even if you are going with a significant other, if you're both cool about it you can still crash with friends.

 

[Lindley]

When visiting an island, always check the B&Bs. Sometimes you get better value for money at those than at a hotel.

 

[Gryffindorian]

What I would really want to do (by myself or with somebody) is to go on one of those all-inclusive resort vacations in Mexico, including airfare, hotel, meals, some drinks, and gratuities. Anywhere I check on-line, I could get two round-trip tickets and a 5-night stay at one of the resorts (e.g., Cancun, Puerto Vallarta, Los Cabos) for as low as $900 ($450 each). But people keep getting on my case about Mexico being a dangerous destination. All of Mexico? Where? How? It's like saying you shouldn't travel to the SF Bay Area because there are lots of homicides in Oakland.

 

[tighr]

About 5 years ago, I did a 7 night trip to Puerto Vallarta at an all-inclusive resort with 4 of my friends. It cost us $1000 each, and included airfare, all food, all drinks, and rooms.

There are some problems in Mexico today, so unless you're already familiar with the country or can speak Spanish, there might be some concerns with going. Puerto Vallarta, Cancun, and Cabo should be safe, but I obviously can't guarantee that. Acapulco and Mazatlan are the ones that have seen the major problems.

 

[Kestra]

What I would really want to do (by myself or with somebody) is to go on one of those all-inclusive resort vacations in Mexico, including airfare, hotel, meals, some drinks, and gratuities. Anywhere I check on-line, I could get two round-trip tickets and a 5-night stay at one of the resorts (e.g., Cancun, Puerto Vallarta, Los Cabos) for as low as $900 ($450 each). But people keep getting on my case about Mexico being a dangerous destination. All of Mexico? Where? How? It's like saying you shouldn't travel to the SF Bay Area because there are lots of homicides in Oakland.

I dunno dude. My husband and his cousin went on a cruise to Mexico recently. I was not thrilled about it because they are idiots when they are together, but they assured me that they would stay close to port or go on planned excursions, not on their own. They were fine, but a bunch of people on their ship were coming back from another excursion when they were held up at gunpoint and robbed. They took their money and passports, etc.

I'm not saying that all of Mexico is dangerous, but look into the places you want to go very carefully and take precautions when you travel, as you really should do anyway. Prices are cheap because people are scared to go, I just don't know which areas are safe and which aren't. You should be able to find a resort that's perfectly fine.

 

[Mr Awe]

So, now you want to buy a new car and go on a vacation? OK, I'm just going to bite my tongue.

If you do go, at least do some research to see which areas are safe before you book anything.

Mr Awe

 

[Gryffindorian]

What I would really want to do (by myself or with somebody) is to go on one of those all-inclusive resort vacations in Mexico, including airfare, hotel, meals, some drinks, and gratuities. Anywhere I check on-line, I could get two round-trip tickets and a 5-night stay at one of the resorts (e.g., Cancun, Puerto Vallarta, Los Cabos) for as low as $900 ($450 each). But people keep getting on my case about Mexico being a dangerous destination. All of Mexico? Where? How? It's like saying you shouldn't travel to the SF Bay Area because there are lots of homicides in Oakland.

I dunno dude. My husband and his cousin went on a cruise to Mexico recently. I was not thrilled about it because they are idiots when they are together, but they assured me that they would stay close to port or go on planned excursions, not on their own. They were fine, but a bunch of people on their ship were coming back from another excursion when they were held up at gunpoint and robbed. They took their money and passports, etc.

I'm not saying that all of Mexico is dangerous, but look into the places you want to go very carefully and take precautions when you travel, as you really should do anyway. Prices are cheap because people are scared to go, I just don't know which areas are safe and which aren't. You should be able to find a resort that's perfectly fine.

Kestra, that's terrible. I heard something like that on the news one time. But personally, if I were to go on a cruise to Mexico, I would think twice about going on an excursion. I agree ... Regardless of where people travel, they should always be careful.

 

[tighr]

Kestra, that's terrible. I heard something like that on the news one time. But personally, if I were to go on a cruise to Mexico, I would think twice about going on an excursion. I agree ... Regardless of where people travel, they should always be careful.

Excursions are half the fun of going to a port! I've done the sailboats, booze cruises, zipline adventures, tequila tasting, waterfall jumping, snorkling...