How (and why) to Ramble On your domestic shorthair - Page 1117 - Miata Turbo Forum -Boost cars, acquire cats.

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Old 05-25-2015, 11:08 PM   #22321
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Quote:
Originally Posted by Joe Perez View Post
Primarily of importance only if you keep relatively large amounts of liquid cash in deposit...
Define large amounts.
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Old 05-25-2015, 11:12 PM   #22322
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I'm with Golden1, and my only gripe is you can't ever withdraw more than 3000 cash because they dont have much on hand. You have to call them and set up a whole "date" to withdraw more.

BOA are turrible, but you can walk in and walk out w/ 50k no prob
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Old 05-25-2015, 11:17 PM   #22323
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Define large amounts.
Enough that you'd care about earning an extra half percent or so interest on it.
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Old 05-25-2015, 11:22 PM   #22324
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Joe's sexy parties are 200k a pop

Talk about a good time
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Old 05-26-2015, 01:16 PM   #22325
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I think my credit union was offering like 0.9% financing for new car loans last year. Now it's back up to a whopping 1.99%.
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Old 05-26-2015, 01:34 PM   #22326
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I think my credit union was offering like 0.9% financing for new car loans last year. Now it's back up to a whopping 1.99%.
This raises back to the surface of my mind a question which has long lingered.

How many people here use (or would use) a loan to fund the purchase of a new (or newly-acquired used) car?

Of those people who answer in the affirmative, is the reason for this that, while you have more than sufficient liquid funds available to buy the car with, you have that money invested in some kind of security or deposit instrument wherein the money is returning a yield greater than the cost of the loan?

And of those people still answering in the affirmative, is that something you just tell yourself, or are you actually following through in depositing the money and not touching it?
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Old 05-26-2015, 01:54 PM   #22327
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I use a home equity line of credit for all large purchases - roof for the house, used cars, hot tub, etc. Then, pay it off within a month. That means low interest (2.something), and it builds my "membership" at the credit union that issued the loan. By increasing my level of membership in the CU, I get better interest rates on IRAs and savings, plus stuff like free checking, free ATM withdrawals all over, etc.

I could use a credit card, but I have set very low limits on all my cards. Helps keep my impulse purchases in check.

Edit: anyone that doesn't have a fairly large chunk of change (either in cash or in the bank) for emergencies is living beyond their means. I've read that most Americans can't come up with 3-4 grand in a weeks time. That, to me, is a crazy way to live.
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Old 05-26-2015, 02:03 PM   #22328
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I actually did all the of above when I bought my NB.

I got a sizeable insurance payout + sold my Jeep and I wanted another Miata. I had virtually zero credit history so I decided to finance it. I got a loan for the car and stuck the money in a CD whose interest (mostly) negated the interest on the loan, set up auto payment from the account where I had direct deposit and went about my life.

Now I've got an 800 something credit rating and I live within my means. Easy peasy.

The last used car I bought I did so with cash, because why not?
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Old 05-26-2015, 03:00 PM   #22329
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<p>I just bought a car on a loan with no intention of using the &quot;saved money&quot; as an investment in any particular thing.</p><p>Of course pretty much anything I put it toward will yield more than the 0.0% financing rate.&nbsp;</p><p>&nbsp;</p><p>Related:</p><p>Upped the librul game this weekend. Added hybrid and another garden bed. Anyone know a good concrete guy?</p><p><img alt="" src="https://lh3.googleusercontent.com/-rk25Y94fJjQ/VWMWVc-ov9I/AAAAAAAA17Y/8bO1GIdAn6M/w1045-h588-no/IMG_20150525_083212801.jpg" style="height:588px; width:1045px" /></p><p>&nbsp;</p><p>&nbsp;</p>
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Old 05-26-2015, 03:05 PM   #22330
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Quote:
Originally Posted by y8s View Post
<p>I just bought a car on a loan with no intention of using the &quot;saved money&quot; as an investment in any particular thing.</p><p>Of course pretty much anything I put it toward will yield more than the 0.0% financing rate.&nbsp;</p><p>&nbsp;</p><p>Related:</p><p>Upped the librul game this weekend. Added hybrid and another garden bed. Anyone know a good concrete guy?</p><p><img alt="" src="https://lh3.googleusercontent.com/-rk25Y94fJjQ/VWMWVc-ov9I/AAAAAAAA17Y/8bO1GIdAn6M/w1045-h588-no/IMG_20150525_083212801.jpg" style="height:588px; width:1045px" /></p><p>&nbsp;</p><p>&nbsp;</p>
There is only one concrete guy that we all know, love, and trust. That would be Vash.
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Old 05-27-2015, 10:32 AM   #22331
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Thanks for the information.

I've been living outside of my comfort zone for a while but its only due to car issues. I put a hefty down payment on the msm when I grabbed it (had to be mine). Regret buying the vehicle due to issues but on the flip side its an MSM and I'm almost done paying it off.

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Old 05-27-2015, 11:24 AM   #22332
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I'm not smart enough to find an investment that yields greater than the interest rate on a typical loan.

I'd be cool if ING or emmigrant get back to 5% haha. But I also want mortgage rates to stay silly low in case we find a house better suited for kids.
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Old 05-27-2015, 01:37 PM   #22333
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<p>
Quote:
Originally Posted by shuiend View Post
There is only one concrete guy that we all know, love, and trust. That would be Vash.
</p><p>&nbsp;</p><p>He doesn't use jackhammers, he uses his... fist?&nbsp;</p>
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Old 05-27-2015, 01:59 PM   #22334
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Probably has as much metal in it as a jackhammer.
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Old 05-27-2015, 02:22 PM   #22335
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Did one of you mods just fat-finger lock Ed/turbofan's build thread?

http://www.miataturbo.net/build-thre...tas-***-77788/
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Old 05-27-2015, 04:37 PM   #22336
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My Miata to Cat ratio is out of equilibrium. I have 10 cats and 8 miata's. So this weekend I think I am going to pick up miata #8, a 2002 base with 200k. Will be my VVT test fitting car.
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Old 05-27-2015, 04:40 PM   #22337
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Quote:
Originally Posted by shuiend View Post
My Miata to Cat ratio is out of equilibrium. I have 10 cats and 8 miata's. So this weekend I think I am going to pick up miata #8, a 2002 base with 200k. Will be my VVT test fitting car.
This is the most MT thing I've ever read.
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Old 05-27-2015, 04:54 PM   #22338
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there you go calling it a build thread again
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Old 05-27-2015, 05:04 PM   #22339
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Quote:
Originally Posted by shuiend View Post
My Miata to Cat ratio is out of equilibrium. I have 10 cats and 8 miata's. So this weekend I think I am going to pick up miata #8, a 2002 base with 200k. Will be my VVT test fitting car.


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Old 05-27-2015, 06:59 PM   #22340
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I feel like "Miata" should be a mass noun, as in does not require an "s" to indicate multiple Miata. Much like how the word "moose" or "poo" can be used to indicate multiples based on context or usage. "Look at that (singular) moose" vs "Look at those (multiple) moose."

I've seen people use "Miate" or "Miatae" (as in "minutiae") to indicate a group of Miata, but that just makes me ill.
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