JulesMaximus
No Lifer
You say that as though it's a bad thing. :laugh:
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I don't get spending so much money on cars.
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You say that as though it's a bad thing. :laugh:
Using a car as a means to show of social status attracts all the wrong people.
The ironic reality is that most people that have expensive possessions such as 30k+ cars are actually hurting for money to support all of their material possessions. On the other hand, many of the people that drive cost effective cars and have decent jobs are building a large amount of wealth.
The ironic reality is that most people that have expensive possessions such as 30k+ cars are actually hurting for money to support all of their material possessions. On the other hand, many of the people that drive cost effective cars and have decent jobs are building a large amount of wealth.
JulesMaximus
No Lifer
Our CEO has one. It is a very nice car.
Kelemvor
Lifer
A car is just to get you from one place to another. People that have to go buy the most expensive car they can because they want to try to impress other people have other problems they need to work out.
Most expensive car I have is a $30k SUV that was bought brand new. My car was about $20k or so.
I would never buy something really expensive unless I hit the lottery and just wanted to spend something obscene just for fun.
If you drive around all the time and take people with you that you need to impress and thing slike that... it might make sense. Im' in my car 10 miuntes to work, 10 minutes home form work, and maybe a bit more when I go to lunch. Having a nice plush, poofy car is useless. I'd rather have a nice couch at home where I actually sit for more than half an hour.
Most expensive car I have is a $30k SUV that was bought brand new. My car was about $20k or so.
I would never buy something really expensive unless I hit the lottery and just wanted to spend something obscene just for fun.
If you drive around all the time and take people with you that you need to impress and thing slike that... it might make sense. Im' in my car 10 miuntes to work, 10 minutes home form work, and maybe a bit more when I go to lunch. Having a nice plush, poofy car is useless. I'd rather have a nice couch at home where I actually sit for more than half an hour.
DrPizza
Administrator Elite Member Goat Whisperer
Public displays of wealth.
Keeping up with the Joneses
Call it what you like.
I'd rather not spend more on a vehicle than I have to. Then, use the savings to do things I truly enjoy.
Plus, most cars depreciate in value; I like gaining equity, not the other way around.
Keeping up with the Joneses
Call it what you like.
I'd rather not spend more on a vehicle than I have to. Then, use the savings to do things I truly enjoy.
Plus, most cars depreciate in value; I like gaining equity, not the other way around.
PricklyPete
Lifer
God why does this same thread get brought up so much. Who gives a flying fvck! People have different priorities...whether you agree with their priorities or not.
You and I may spring for a nicer house vs. a car...but why does that matter. That is where your priority lies...it shouldn't make a difference to the guy renting with expensive cars.
I could do the same thing to every person who's chosen to have kids. Kids cost a rediculous amount of money...why the hell would you want one. That person would go on and on about how they are "worth it", but since my priorities are not there at the moment...I just look at it like kids are a colossal waste of money.
If you are bringing this up because it makes you feel better about your $500K house purchase...you are really pathetic.
You and I may spring for a nicer house vs. a car...but why does that matter. That is where your priority lies...it shouldn't make a difference to the guy renting with expensive cars.
I could do the same thing to every person who's chosen to have kids. Kids cost a rediculous amount of money...why the hell would you want one. That person would go on and on about how they are "worth it", but since my priorities are not there at the moment...I just look at it like kids are a colossal waste of money.
If you are bringing this up because it makes you feel better about your $500K house purchase...you are really pathetic.
JulesMaximus
No Lifer
I truely enjoy driving my car and I have enough equity in my house to buy 2 Bentley Continental GT's.
My wife and I have about $60k worth of cars sitting in our driveway.
BTW-Auto loans are short term relatively low interest debt. I don't see what the big deal is quite frankly. People who make blanket statements like "you need to make over $100k annually to buy a $30k car" are just knee jerk reaction nutjobs who are just shelling out some BS they heard someone else say.
JulesMaximus
No Lifer
All I'm saying is that buying a new car and financing it is not necessarily a bad decision and there is no way you can make a statement like that and apply it to everyone. I see that same arguement over and over here and it just makes me crazy.
Here are the two most common ridiculous responses:
1) If you can't pay cash for it then you shouldn't buy it. :roll::roll:
2) It is stupid to finance a depreciating asset. :roll::roll::roll:
Koing
Elite Member <br> Super Moderator<br> Health and F
It's not my fault that is the currency of England 😛
People just like different things. I have dumped £1k in to portable music over the past 7yrs. Why? I like it. I don't have the time listen to a full hifi home setup as I was always commuting so the hifi setup would have had little useage to me.
As long as people can afford it and not b!tch and moan about how they dont' have enough £££ becuase they dropped $50k on cars they can do what they want.
New cars aren't such a bad idea if the people buying don't know a lot about cars. It does give them warrenties that you dont' get in older cars. I'm fine as my dad worked in a garage for 12yrs so he can do a lot.
Koing
PlatinumGold
Lifer
hahahaha
first of all, i never said people DON'T have different priorities.
next, hahaha, if you think spending $500k is a lot in this area, you know NOTHING about this area. i don't have to try and make myself feel good about ANYTHING. i know i'm making a good financial decision.
you see, you are the one that really seems to be concerned about what other people think and say, even to the point that you resort to name calling.
seems you are a bit defensive about this topic, did you recently spring for an expensive car?
"1) If you can't pay cash for it then you shouldn't buy it.
2) It is stupid to finance a depreciating asset.
"
But those are true statements.
So many people wake up and go "My net worth is actually negative. How did this happen?"
It happened the way I see so many young people out of school making their first real paycheck.
Most of it starts because they buy a fancy car and it just snowballs from there. Or they get used to a dual income no family lifestye of blowing money and one loses their job - instant crisis.
2) It is stupid to finance a depreciating asset.
"
But those are true statements.
So many people wake up and go "My net worth is actually negative. How did this happen?"
It happened the way I see so many young people out of school making their first real paycheck.
Most of it starts because they buy a fancy car and it just snowballs from there. Or they get used to a dual income no family lifestye of blowing money and one loses their job - instant crisis.
PlatinumGold
Lifer
isn't it tho?
i don't get people coming into a thread and getting riled up about it. it's not like my OP was full of inflammatory remarks. i just stated i didn't get it. 😉
oh well. Trolls will be Trolls i guess. 😉
JulesMaximus
No Lifer
No, they are not. I'll give you a perfect example. A couple years ago we needed to make a decision regarding a Toyota Tundra I was leasing. Either buy it at the end of the lease or trade it (it was well maintained and I owed about what the high trade in value was at the time-which I got for it BTW). I decided it made more sense to buy a new 2003 Maxima SE and finance it for 5 years with zero down and an interest rate of 1.9%. I've had no trouble making the payments and we have more than enough money in the bank right now to pay off the loan early but it doesn't make any sense to pay it off early with such a low interest rate on the loan. So, paying cash for that car would have actually been stupid and a mistake.
The mistake many people make is they roll negative equity into a new car or they finance it for 72 months or longer at high interest rates thus making sure they are always upside down in it. That's stupid. Financing a car isn't necessarily stupid and I think advising people against it is just bad advice unless you have all the facts.
JulesMaximus
No Lifer
What is it you think I don't get? I'm confused. I own a '03 Maxima with 44k miles on it. I owe less on it than it's worth and it will be paid off in 2 years.
How much did you lose in interest?
What would your return have been over the length of the loan if you hadn't bough it?
How would it affect your net worth?
If you had enough money to pay for the car in cash, but instead financed it what would be the difference between the return on said money and the return on the car?
If you can answer all these questions honestly and correctly and it still looked good to you, then OK. But my guess is you didn't.
Saying you should have enough money to pay for the car with cash doesn't mean you have to pay for the car with cash - just that you outpace the interest on the loan.
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