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What is everyone ordering for 2022


Nunz

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9 minutes ago, stoney said:

I thought it was now more of an incentive if you asked and not as advertised like it once was. 

I've seen a few advertisements about paying full for a vehicle'cash' or financing.  2 different prices.  Obviously the cash price will be the lowest 

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Actually that’s not always true. The dealer stands to make more if you finance and therefore the  cash price sometimes is more than the finance price. Trying to recoup what would have been made on financing. 

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4 hours ago, ArcticCrusher said:

Who's gonna teach the people teaching it.

Definitely NOT a Lieberal, N[o] D[own] P[ayment] or Green!

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5 minutes ago, Muskoka1 said:

Definitely NOT a Lieberal, N[o] D[own] P[ayment] or Green!

Lol

I'd fear any type of fiscal teaching, by ETFO members etc in Ontario public schools.

I'd would be based on unicorns and money tree's.

 

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1 minute ago, RAMSOMAIR said:

Oh boy, here comes the politics!! Starting to sound like all the American forums haha. 

Lol, delivered!!

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2 hours ago, RAMSOMAIR said:

Actually that’s not always true. The dealer stands to make more if you finance and therefore the  cash price sometimes is more than the finance price. Trying to recoup what would have been made on financing. 

negotiate the price before you disclose financing or cash

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Last two trucks I purchased had take it or leave it 0% financing (current truck for 8 :eek: years). The sale price was the same with or without the financing. On other models they were offering cash discounts instead of 0%. It just depends on what incentives the manufacturer is offering at the time. 

 

The new snowmobile I ordered for the fall - last one was 15 years ago, as with all non-essential toys, will be cash.

 

I do agree with spending some money on luxuries, within reason, while you are young, once you have established a steady income. Life goes by quickly.

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A friend in his fifties recently bought a new Ram pick-up on the 0 percent interest for 7 years promo. The truck could have been had for almost $7K less if cash were payed. But its not just the interest that is problematic, its that all debt, at least in theory has to be re-payed at some time. If you can't pay outright for your toys in your prime income earning years, when the hell are you to pay off all your toy debt? In the same time frame as that new Ram was bought, I bought a 1 year old Ram with 17K km, a 3 year old sled with 2000 km and a 5 year old beauty of a motorcycle with under 8000km, all totalled for about 60% of what his new Ram cost. The vehicles I bought are fully owned assets, no payments to be made. If I die tomorrow, there is lots of inheritance to share. If my buddy dies tomorrow, his beneficiaries will have to clear up a bunch of debt, before selling off his assets to see if there is any real value in the estate. Too many toys on credit is poor planning at any interest rate. 

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8 hours ago, Sksman said:

Good practice if you can follow it.

 

But the YouTube videos of a 165” long track doing a wheelie in 6” of snow are more appealing to the cool crowd then a kid sitting on a shitter reading the Wealthy Barber!.

If you have kids, buy them the book and get them on the right track early. Most parent don't talk to their kids about money, nor can the majority explain various investment options. 

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8 hours ago, ArcticCrusher said:

Who's gonna teach the people teaching it.

What's your spouse say about that? As I understand from a previous post on here, she is a high school principal? No? Maybe you could be a guest lecturer..

 

As per Muskoka 1 - other than a rudimentary outline of personal finance concepts, unless the kid has got a part-time job and is handling his/her own money, the information usually goes in one ear and out the other. Most figure they will count on their rap music careers for a good living, and leave the financial end to an accountant. Telling them the tragic tale of MC Hammer didn't work either. 

 

What I found most useful in 19.9 years of teaching high school accounting was to create  T4 slips with representative income and congruent deductions, (sometimes with RRSP and charitable contributions, sometimes not) General T1 forms, Federal Tax forms and Ontario tax forms and have them complete the income tax filing. You can do this yourself at home - print the blank T4 and other forms available from CRA, enter info in all the boxes and let them have at it. Tax year 2014 works well, as after they have conquered the paper forms, most tax software (Studio Tax for instance) is free for that year and you can use that to follow up. Using the paper version first demonstrates how the process works and ensures all information is understood.

 

There are all kinds of questions that come up as some tried to claim retirement income at age 16, wondered why there is a volunteer firefighter deduction, found out what an R.R. mailing address is, the difference between E.I. premiums and income, and generally forget to claim the age and personal deductions. Some even marvelled at the $25,000 or more income tax taken off with an annual income of $100K plus, which seemed to most as a lot of money. 

 

Over the four days it took for them to fight their way to the finish (or not) I would pretend I was the CRA help line and any question was met with me humming the theme song from the movie "Brazil"...do do doo, do do dodo do.... telling them their call was important and would be handled by the first available customer service rep. Not sure who had more fun....me or them. 

 

I usually ended with the admonishment " if I see any of you guys in a line up at H & R Block at the back of Walmart clutching a single T4 slip, I'll personally send you out the front of that store on the end of my boot". 

 

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2 hours ago, slomo said:

If you have kids, buy them the book and get them on the right track early. Most parent don't talk to their kids about money, nor can the majority explain various investment options. 

I agree fully.  

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3 hours ago, tricky said:

A friend in his fifties recently bought a new Ram pick-up on the 0 percent interest for 7 years promo. The truck could have been had for almost $7K less if cash were payed. But its not just the interest that is problematic, its that all debt, at least in theory has to be re-payed at some time. If you can't pay outright for your toys in your prime income earning years, when the hell are you to pay off all your toy debt? In the same time frame as that new Ram was bought, I bought a 1 year old Ram with 17K km, a 3 year old sled with 2000 km and a 5 year old beauty of a motorcycle with under 8000km, all totalled for about 60% of what his new Ram cost. The vehicles I bought are fully owned assets, no payments to be made. If I die tomorrow, there is lots of inheritance to share. If my buddy dies tomorrow, his beneficiaries will have to clear up a bunch of debt, before selling off his assets to see if there is any real value in the estate. Too many toys on credit is poor planning at any interest rate. 

The depreciation kills on the 7 year or 8 year 0% deal.

 

The owner is upside down on payments for years.   

 

Now for some people the long term financing can get them in a reliable new vehicle at lower payments.  Sometimes you have to.  I have been there.

 

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2 hours ago, slomo said:

What's your spouse say about that? As I understand from a previous post on here, she is a high school principal? No? Maybe you could be a guest lecturer..

 

As per Muskoka 1 - other than a rudimentary outline of personal finance concepts, unless the kid has got a part-time job and is handling his/her own money, the information usually goes in one ear and out the other. Most figure they will count on their rap music careers for a good living, and leave the financial end to an accountant. Telling them the tragic tale of MC Hammer didn't work either. 

 

What I found most useful in 19.9 years of teaching high school accounting was to create  T4 slips with representative income and congruent deductions, (sometimes with RRSP and charitable contributions, sometimes not) General T1 forms, Federal Tax forms and Ontario tax forms and have them complete the income tax filing. You can do this yourself at home - print the blank T4 and other forms available from CRA, enter info in all the boxes and let them have at it. Tax year 2014 works well, as after they have conquered the paper forms, most tax software (Studio Tax for instance) is free for that year and you can use that to follow up. Using the paper version first demonstrates how the process works and ensures all information is understood.

 

There are all kinds of questions that come up as some tried to claim retirement income at age 16, wondered why there is a volunteer firefighter deduction, found out what an R.R. mailing address is, the difference between E.I. premiums and income, and generally forget to claim the age and personal deductions. Some even marvelled at the $25,000 or more income tax taken off with an annual income of $100K plus, which seemed to most as a lot of money. 

 

Over the four days it took for them to fight their way to the finish (or not) I would pretend I was the CRA help line and any question was met with me humming the theme song from the movie "Brazil"...do do doo, do do dodo do.... telling them their call was important and would be handled by the first available customer service rep. Not sure who had more fun....me or them. 

 

I usually ended with the admonishment " if I see any of you guys in a line up at H & R Block at the back of Walmart clutching a single T4 slip, I'll personally send you out the front of that store on the end of my boot". 

 

My wife is smart enough to trust me with the finances and investments as she has no clue.  The model I used is a real one I'm actually using and puts me ahead about 150k a year so tell the class Mr accounting teacher what your fantasy investment to the kids should be, cause using quicktax to file your income tax is hardly worth much.

 

Understanding tax obligations is great but understanding tax efficiency goes much farther outside of registered accounts.

 

A good exercise would be for the class to create a virtual portfolio for registered and non registered portfolios and see who performs the best.  But who at the secondary level is able to provide that?  

 

 

 

 

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Also let's not even discuss how to become an entrepreneur as we can all live off government.

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34 minutes ago, Sksman said:

The depreciation kills on the 7 year or 8 year 0% deal.

 

The owner is upside down on payments for years.   

 

Now for some people the long term financing can get them in a reliable new vehicle at lower payments.  Sometimes you have to.  I have been there.

 

Given the prices that used pickup trucks are bringing these days, I'm not sure anybody would be upside down on a zero percent 7 year fiinance

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19 minutes ago, PISTON LAKE CRUISER said:

Given the prices that used pickup trucks are bringing these days, I'm not sure anybody would be upside down on a zero percent 7 year fiinance

 

Buy a new 1500 and drive off the lot.   Drive it for 6 months and let us know how you make out.

 

After 6 months you will have paid approx $4500 off the loan on a $55,000 before tax ( $63,000 after tax ) truck.  So you owe $58,500 on truck.

 

Truck will be worth maybe $45,000 - 48,000 max on trade.   Maybe you can save the taxes if trading in but You are upside down already.   

 

Right now trucks are hard to come by because of semi conductor shortage.   But in 6 months will the market be flooded?

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Just now, Sksman said:

Right now trucks are hard to come by because of semi conductor shortage.   But in 6 months will the market be flooded?

Your right.  How long used prices stay the way they are,  will be determined by how fast production comes back, and dealer inventory picks up. Time will tell.

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On 4/19/2021 at 6:37 PM, PISTON LAKE CRUISER said:

Paying the dealer for the new sled with a credit card as a slap in the face to BRP  is cruel, if the dealer would even consider it. If you are unhappy with BRP then I suggest you show your displeasure directly to them rather than taking it out on your dealer.  If the dealer did accept a credit card for payment without dismay then he likely has the sled marked up enough to cover the cost of the card payment along with normal markup. Processing fees to dealers can be anywhere from 1.5% to 3.5% with the average likely about 2.25% (a $25,000.00 purchase at 2.25% would cost the retailer $625.00). At the dealership that I worked at, we would happily take Visa for a payment or down payment but only with the processing fee added to the total sale price .

Lots of places offer a cash discount I find. Use card loose that cash discount. Average is 2 percent usually. For two percent, I gladly right cheque. Even our feed company has a cash two percent discount that only applies on cheques or e transfers. Pay credit card loose that two percent and they will gladly take card. Some would get a free trip In no time with current commodity prices. 

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11 hours ago, Sksman said:

The depreciation kills on the 7 year or 8 year 0% deal.

 

The owner is upside down on payments for years.   

 

Now for some people the long term financing can get them in a reliable new vehicle at lower payments.  Sometimes you have to.  I have been there.

 

I agree 5 years is max I would do on a vehicle. All my vehicles are paid for. Have nothing under 10 years old except a red plastic Ferrari with a few thousand km’s on it. Paid cash for that one, since discount was close to 30 k at time. 

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12 hours ago, ArcticCrusher said:

My wife is smart enough to trust me with the finances and investments as she has no clue.  The model I used is a real one I'm actually using and puts me ahead about 150k a year so tell the class Mr accounting teacher what your fantasy investment to the kids should be, cause using quicktax to file your income tax is hardly worth much.

Understanding tax obligations is great but understanding tax efficiency goes much farther outside of registered accounts.

A good exercise would be for the class to create a virtual portfolio for registered and non registered portfolios and see who performs the best.  But who at the secondary level is able to provide that?  

 

 

That's accounting teacher retired - early - due to very successful investing and discipline over the years. Still have a few irons in the fire though. As for secondary level stock market and other investment strategy games many are available - such as this one: https://www.stockmarketgame.org

11 hours ago, ArcticCrusher said:

Also let's not even discuss how to become an entrepreneur as we can all live off government.

I suppose given your abhorrence of living off the government you'll be donating the tax payer's contribution to the Ontario Teachers Pension Plan to charity? 

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1 hour ago, slomo said:

That's accounting teacher retired - early - due to very successful investing and discipline over the years. Still have a few irons in the fire though. As for secondary level stock market and other investment strategy games many are available - such as this one: https://www.stockmarketgame.org

I suppose given your abhorrence of living off the government you'll be donating the tax payer's contribution to the Ontario Teachers Pension Plan to charity? 

Living off the government?  

 

We would have gladly op't out of the teachers pension plan and gone straight to an RRSP, but this request was denied.  You know when you do that it reduces your income so you pay less tax so a 28K contribution gets you over 15K back, essentially 13K.  This is not a taxpayer contribution, its actually your own.

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