My E46 touring, I bought it used, it was 8 months old. I honestly picked it up for half of the window sticker. can totally agree with not buying brand new and i never will. buying a 4 or 5 year old car, it's hitting the "it needs stuff point", a bit too old i think.
Announcement
Collapse
No announcement yet.
$9425 closer to being DEBT FREE!
Collapse
X
-
Originally posted by mikeedlerMy E46 touring, I bought it used, it was 8 months old. I honestly picked it up for half of the window sticker. can totally agree with not buying brand new and i never will. buying a 4 or 5 year old car, it's hitting the "it needs stuff point", a bit too old i think.
I don't like the fact that I bought a 02 Galant but I did buy it 2 years used and now it's 4 years old and all it's ever needed was 4 new spark plugs and a set of tires.
Comment
-
Yeah... you are right. new cars depreciate much more quickly than used cars. Its a fact. True. Whatever. That said I'd rather drive in my 15k new car thats going to be worth 6k in 4 years than my 6k car thats going to be worth 1k in 4 years. The 9k depreciate comes in the form of the 60,000 plus miles I'll put on it. And I'll put that on it with minimal maint thats not covered under warranty. I won't have to worry about my car note and then have to worry about where I'm going to get 600 bux to replace the timing belt.
I can afford a much more expensive car. But I can't afford the upkeep. I almost bought an e46. Payments weren't out of my range. I make inflated payments on my Neon that would be equal to what I would have paid if I would have financed an 05 325ci. But when it comes time to do a 40k service and I'm out 2500 bux..... I'd be better off selling my soul.
Comment
-
Car payments suck, but it's become the American way, thanks to advertising and Keeping up with the Joneses mentality. I just don't get it. I used to work with a girl who was getting ready to make the last payment on her car. Instead of planning to save some $$$ for a while, she was already planning to buy a NEW car- she actually told me the following week that the dealer took her car in trade on a new one and "my payment only went up $120 a month"!!!!
Now, God bless the people who buy new cars every year or two, but I'll let them depreciate about 70% or more before I own one of them.....
Oh, and whoever said Mortgage payments suck, well- sending off that $$ every month might suck, but I'd much rather be paying a mortgage payment than a car payment (or RENT) - a house has a MUCH higher chance of appreciating in value than ANY car does. Besides that, you can still get a nice tax deduction for all that mortgage interest you pay every month. I bought a house 1 year out of college- didn't really know what I was doing, but my Mom helped alot (she's a real estate agent) and told me it was a great deal. The house is now paid off, and worth a whole lot more than what I paid for it.
Bret.
Comment
-
I'll hopefully be paying off my ~$55k in student loan dept within 3 years of graduating and going to STEP. It'll be aggravating watching all my peers who had everything handed to them spend all their spare cash on fun shit, but in the end I'll be more experienced and prepared for the future. Good luck to the rest of you doing the same. Loan payments suck balls.
Comment
-
Debt sucks, but I love having my Frontier waiting on me when I need it. I doubt I will have any trouble from it for at least 100k. Its a nice feeling. I can start work on the e30, get pissed off/drunk, and not have to worry about finishing it for the next day. $230 a month for 3 years, its worth it totally.sigpic
Comment
-
Car reliability is a mentality... I read a Forbes magazine article that said that the two most expensive ways to own a vehicle were to buy one new and even worse.. leasing one.
After doing a price comparison of you you actually end up paying MORE for a new car "warranty" than you would pay to have the drivetrain rebuilt on the vehicle 3 times over.
An example being the 16k depreciation on the IS300 mentioned earlier in the thread within 2 years time. Just think of what you could fix on a car for $16k. 99% of the time the "reliability" convenience people find in a "new" car is all in their head and they end up paying more for the warranty than any worse case scenerio repair job.
Another interesting fact is the math on the car payment.. $300/month on a new car = -60% everytime sometimes more, but that same payment made to a growth stock mutual fund averaging 10-12% from age 18 to age 65 is about 3-4 million dollars. Hope you really like the car.Last edited by RobertK; 03-15-2006, 07:01 AM.
Comment
-
Yeah but you dont own the same car from 19-65. Kind of an unfair comparo to make.
Heres my addition, some people cant be bothered driving 20 year old foreign beaters around to their everyday jobs. I know that the industry Im planning on getting into, you gotta drive something that is going to impress your clientel. (I want to start my own financial planning firm) Face it, 99.9% of the cars on this board are not going to be anything more than a glorified beater. Things break, and while some of you might have 3 or 4 other beaters roaming around your property, some of us dont want to have our driveway look like Big Als rent a wreck. When I get out of school I plan on buying a tacoma pickup a couple years used for a small loan and have that as reliable transportation. Then I can do with the e30 as I please and not have to worry about it.Back to my roots
Comment
-
Originally posted by Ritalin KidBut still.. 16k depreciation in 2-3 years is horrable for a Lexus.-Brandon
'86 325es S50
'12 VW GTI Autobahn DSG
'03 540i M-Sport (sold)
'08 Jeep SRT-8 (sold)
For sale:
S50 TMS chip for Schricks
Comment
-
Originally posted by FifeDog236Yeah but you dont own the same car from 19-65. Kind of an unfair comparo to make.
If you don't have any payments and know how to save your money. Planning for purchases such as cars is not hard to do. You can save and buy nice cars and not have payments it's not as hard as some people think.
As an example, I know a doctor that still drives a 95 Q45 and a nice 90's model V12 convertable Jag. Neither were terribly expensive, enough to impress and get him to work reliably.
Originally posted by FifeDog236I know that the industry Im planning on getting into, you gotta drive something that is going to impress your clientel. (I want to start my own financial planning firm)
My best friend's dad is a senior investment planner for Prudential Financial and he drives a 1998 Ford Contour and his mom drives a 2000 Ford Windstar but their house is HUGE.
My advice would be to keep the E30 for fun and buy a 95-96 model 5 or 7 Series. You can get them at a good price with cash and still make a good impression without looking like you're driving a 10 year old beater.Last edited by RobertK; 03-15-2006, 10:54 AM.
Comment
-
Originally posted by RigmasterCar payments suck, but it's become the American way, thanks to advertising and Keeping up with the Joneses mentality. I just don't get it. I used to work with a girl who was getting ready to make the last payment on her car. Instead of planning to save some $$$ for a while, she was already planning to buy a NEW car- she actually told me the following week that the dealer took her car in trade on a new one and "my payment only went up $120 a month"!!!!
Now, God bless the people who buy new cars every year or two, but I'll let them depreciate about 70% or more before I own one of them.....San Diego BMW repair -> Jake @ www.littlecarshop.com Great guy :up:
Comment
Comment