So, those dudes trapped under water in a cheap sub while looking for the Titanic...

Titanic               2

Rich people      0

posted by kizer permanente

No there’s way too many other things I need in life like not working the entirety of it to spend $50k to go to space  

Many of us pay well over half that annually in confiscatory taxes and fees to varying levels of government just to have good roads to travel on.

posted by gut

What's your point, other than that you value a car over a space trip?

I wouldn’t think people would give a loan to go to space like a car..  where’s the equity to the loan then  ? 

posted by kizer permanente

I wouldn’t think people would give a loan to go to space like a car..  where’s the equity to the loan then  ? 

They likely would not.  Just like a late age post retirement trip it would be saved up for.

posted by kizer permanente

I wouldn’t think people would give a loan to go to space like a car..  where’s the equity to the loan then  ? 

You're completely missing the point, and should probably just admit you said something stupid rather than keep digging a deeper hole.

A person who can afford a $50k car can afford just about $50k anything - it's a simple matter of consumption choices.  The loan is not made based on equity in the car (which drops like 25% as soon as you drive off the lot) - that's how you lose money making loans - but rather your ability to pay.

Anyone who could get a $50k loan for a car presumably has many ways to come up with $50k for a trip, including taking equity out of their home, a HELOC, etc, or perhaps they even sell the trips with an installment plan or some other financing options...You value the car more, but someone else may very well be happy to drive a beater for 12 years and put that new car money toward a trip to space.

posted by gut

You're completely missing the point, and should probably just admit you said something stupid rather than keep digging a deeper hole.

A person who can afford a $50k car can afford just about $50k anything - it's a simple matter of consumption choices.  The loan is not made based on equity in the car (which drops like 25% as soon as you drive off the lot) - that's how you lose money making loans - but rather your ability to pay.

Anyone who could get a $50k loan for a car presumably has many ways to come up with $50k for a trip, including taking equity out of their home, a HELOC, etc, or perhaps they even sell the trips with an installment plan or some other financing options...You value the car more, but someone else may very well be happy to drive a beater for 12 years and put that new car money toward a trip to space.

If I buy a $60,000 truck is it really only worth $45,000 as I drive it off the lot the way things are now? I doubt a new $35,000 Camry or Accord is worth $27,000

I get your point you are making but that % doesn’t seem accurate with many vehicles as things are now

posted by gut

You're completely missing the point, and should probably just admit you said something stupid rather than keep digging a deeper hole.

A person who can afford a $50k car can afford just about $50k anything - it's a simple matter of consumption choices.  The loan is not made based on equity in the car (which drops like 25% as soon as you drive off the lot) - that's how you lose money making loans - but rather your ability to pay.

Anyone who could get a $50k loan for a car presumably has many ways to come up with $50k for a trip, including taking equity out of their home, a HELOC, etc, or perhaps they even sell the trips with an installment plan or some other financing options...You value the car more, but someone else may very well be happy to drive a beater for 12 years and put that new car money toward a trip to space.

No you’re missing the point, per usual.

People can afford $50k cars bc they can get multi year loans for them. They couldn’t get get one for a trip to space. You made a dumb comparison. You can’t admit it. Again… per usual. 

People also need vehicles. Hence the demand to go into debt over them. No one needs a $50k excursion … hence why you don’t see regular people taking them right now. 

posted by Ironman92

If I buy a $60,000 truck 

Only a fool buys a 60k truck if its not going to generate profit.  I got a single cab 8ft bed 2w drive 2009 Dodge 1500.  Got a little north of 15k in her.  Had her for years and likely many more.  Serves me well. 

posted by kizer permanente

People also need vehicles. Hence the demand to go into debt over them. No one needs a $50k excursion … hence why you don’t see regular people taking them right now. 

There are needs and wants.  Many times demand is driven by wants.  Many people go into debt over a want not a need.  Lets stick with the truck example most people driving 60k+ trucks do not need them but want them.  I and likely you can easily afford one but are not typical to market demand.  I think this is the point being missed here. 

Short little reel that references this sub

https://www.youtube.com/shorts/SthuXKeFHEI

posted by kizer permanente

No you’re missing the point, per usual.

People can afford $50k cars bc they can get multi year loans for them. They couldn’t get get one for a trip to space. You made a dumb comparison. You can’t admit it. Again… per usual. 

I could save up $50k over the course of a couple years without the need for a loan. I'm not saying I would do it to travel into space, but it's very achievable if you know how to prioritize your spending. My wife and I are currently paying off our truck loan, go figure, and we're paying $2k per month (loan is like $500/mo) so we can get it off the books within the next 12 months. 

It sounds like You Need A Budget. Every single dollar we earn is tracked and has a job.

posted by justincredible

I could save up $50k over the course of a couple years without the need for a loan. I'm not saying I would do it to travel into space, but it's very achievable if you know how to prioritize your spending. My wife and I are currently paying off our truck loan, go figure, and we're paying $2k per month (loan is like $500/mo) so we can get it off the books within the next 12 months. 

It sounds like You Need A Budget. Every single dollar we earn is tracked and has a job.

I’m sure you can and probably even know others that can. I wouldn’t mistake your reality for the average persons though. Unless you honestly believe you’re not doing better than the average  person.  

posted by majorspark

Only a fool buys a 60k truck if its not going to generate profit.  I got a single cab 8ft bed 2w drive 2009 Dodge 1500.  Got a little north of 15k in her.  Had her for years and likely many more.  Serves me well. 

Yeah…I have a 2004 Nissan Frontier I bought for $6000 in 2017. It does what we need it to.

posted by majorspark

Only a fool buys a 60k truck if it’s not going to generate profit.  I got a single cab 8ft bed 2w drive 2009 Dodge 1500.  Got a little north of 15k in her.  Had her for years and likely many more.  Serves me well. 

1/3 of My town has them and 1/15th of the need it…..but they are all over the place

posted by justincredible

I could save up $50k over the course of a couple years without the need for a loan. I'm not saying I would do it to travel into space, but it's very achievable if you know how to prioritize your spending. My wife and I are currently paying off our truck loan, go figure, and we're paying $2k per month (loan is like $500/mo) so we can get it off the books within the next 12 months. 

It sounds like You Need A Budget. Every single dollar we earn is tracked and has a job.

You’re not wrong … most people don’t need a vehicle that expensive. But they do need a vehicle. And they end up getting one that expensive bc the want you speak of takes over and the relative ease of access to money to get for said vehicle.  That’s not the case with vacations and excursions though is my only point.  No bank and giving you loans to take those like a car loan bc there’s no collateral like said car to get back when you default.  

That’s why it’s a bad comparison to say “well people spend that much on cars”.  

posted by Ironman92

1/3 of My town has them and 1/15th of the need it…..but they are all over the place

I’m pretty sure most people would look at me and say that dude doesn’t need a truck. And I don’t have one anymore. But when I did I had a 5th wheel camper we took everywhere. Now with the kids sports we never use it so I sold it.  But I guess I’m saying … a lot of people look like they don’t need a truck but maybe have a purpose like that for one. I know I personally always had people asking me why I needed a truck. 

If you would pay $50k to go to space, you’re an idiot. Less dumb than spending $250k to go look at a stupid sunk boat in a tin can, but still dumb. Spending $60k on a truck, much less dumb. Can barely buy a 3rd row SUV for that. 

posted by iclfan2

If you would pay $50k to go to space, you’re an idiot. Less dumb than spending $250k to go look at a stupid sunk boat in a tin can, but still dumb. Spending $60k on a truck, much less dumb. Can barely buy a 3rd row SUV for that. 

Yeah. Cheapest Suburban you can find is around $60k with nothing in it. 

posted by kizer permanente

I know I personally always had people asking me why I needed a truck. 

That’s weird.