Toyota 4runner purchase

[JaneV2.0]

Yeah--it's not your business unless you co-signed the loan or something. And then only if they default on their payment.

[Ultralight]

Yeah--it's not your business unless you co-signed the loan or something. And then only if they default on their payment.

Jane, it is not my business except that she asked me for advice on her finances. Which led me to believe she knows very, very little. I told her I am barely financially literate, but that I have learned a lot over the past several years and that I continue to learn a lot.

I suggested that she read Total Money Makeover by Dave and YMOYL.

Jane, I will point out every time you discuss something or express an opinion about something that is none of your business (in my opinion). Then you will see how annoying that is. Sound like a plan? Good! Great talk!

[ToomuchStuff]

It was not the bank loan officer. Her financial adviser is a family friend who I think works in finance, maybe he is an accountant. Something like that.

My interest is primarily in examining this rationale:

Her financial adviser said: "Buying this vehicle will be a good way to teach you to budget."

To me, that is like saying:

"Fight for peace" or "having sex is the best way to remain chaste" or "eating cookies is the best way to lose weight."

So you have no clue who her financial adviser is, and it sounds via the next post, she is looking for someone who is also not financially competent to make her justify/feel like she made the right decision.

Jane, it is not my business except that she asked me for advice on her finances. Which led me to believe she knows very, very little. I told her I am barely financially literate, but that I have learned a lot over the past several years and that I continue to learn a lot.

I suggested that she read Total Money Makeover by Dave and YMOYL.

Good recommendations on the books, although there are others as well and the library would be a good, inexpensive way to start.
You might consider explaining your thoughts in your first post, rather then just asking/saying/demanding "thoughts", as it comes across as, state your opinions so I can tell you how wrong you are (based on your posts and style).

Any accounting book/class could also help with budgeting. Does she work in a department, where she has to justify her expenses, etc?

[JaneV2.0]

...
Good recommendations on the books, although there are others as well and the library would be a good, inexpensive way to start.
You might consider explaining your thoughts in your first post, rather then just asking/saying/demanding "thoughts", as it comes across as, state your opinions so I can tell you how wrong you are (based on your posts and style). ...

I should have known better than to be baited by this kind of thread, and submit myself to the inevitable flagellation.

But in answer to your original question "Thoughts?" I wouldn't have thought twice about her decision to buy a 4 Runner; it's her business and her money, and she'll probably use it and enjoy it or sell it and have learned a lesson.

[Ultralight]

But in answer to your original question "Thoughts?" I wouldn't have thought twice about her decision to buy a 4 Runner; it's her business and her money, and she'll probably use it and enjoy it or sell it and have learned a lesson.

This is an acceptable answer. Thank you for your thoughts.

When I bring these issues and scenarios up I do so as case studies. So when you say "It is none o' yo' biznazz" I am like: I know. This is a case study.

[jp1]

People may or may not learn from mistakes.
People make different choices depending on what's important to them.
You can give advice and it may or may not (most likely not) be taken.
It's not your business.
You can observe other's decisions and apply it to your own life...but don't need to tell them you did so.

Indeed. I look at the scenario presented, coupled with Steve's comment about additional monthly expenses and think "accck! She's gonna be spending 2/3 of what I spend on rent in this absurdly expensive town, just on her car, and she makes 1/3 of my salary. No thanks." But I don't need/want something to take me rock climbing/camping. Personally I just accepted the totaled payout on my 2002 Honda Accord from the insurance company and had it fixed, despite several people telling me it was a bad idea because a salvage titled vehicle wouldn't be worth half it's previous value. They're probably right but for me to be out of pocket only a few hundred dollars to have a super low mileage, reliable, paid off, low insurance cost car was worth it. I don't plan to sell it anytime soon anyway. So for me it made perfect sense.

[ApatheticNoMore]

does she actually rock climb enough to buy a vehicle for that reason? Wouldn't just getting a rental sometimes makes more sense. Buying a vehicle for one's hobbies just sounds so bizarre (or one thing if one is rich and can afford multiple vehicles I guess).

[Teacher Terry]

Jp, we have done exactly what you are doing and it’s worked out well.

[jp1]

Jp, we have done exactly what you are doing and it’s worked out well.

.
I'm taking it for it's "brakes and lamps" inspection and smog inspection saturday, followed by re-titling and registration monday at the DMV. If all of that goes well I'll be super pleased. If not, I may have a different opinion on my decision... But either way, the car looks better than it has in years!

[ApatheticNoMore]

I would never own a salvage car again, not only was it probably not worth repairing (after I was rear-ended) but it became a hopeless mess at the DMV, so many hours waiting in line to deal with the surly folks who always invariably work there, to pay registration that I had already paid several times that year, because stuff became a mess in the DMVs system due to salvage title and they continually lost payments. Never again would I repair a salvage car I vowed.