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  #1  
Old 11-12-2005, 02:19 PM
J-Lo J-Lo is offline
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Default Cars... M3-- Oporutnity Cost...

The cost of cars is throught the roof!!! If u want to buy a $55,000 car and put down 30,000. Payments are still going to be $800+/month for 36 months. Does that not seem absurd? I'l be making 6 figures plus coming out of college, but spending $12,000/year on a car is quite preposterous. Or if u want to lease w/ $0 down it's still 12,000/year for 36 months with nothing to show for it. What kind of people out there prefer spending that kind of money on cars instead of the peace of mind of living in a paid off home which APPRECIATES!?!?!? What kind of people buy expensive cars-- and do they THINK about better ways to spend their money? I've always, always, always, wanted an M3, but now that i look at it... it seems like a ludacrous (sp) investment. I've thought about having a nice car for a few years, but then i'd be "hooked" and wouldn't be able to go back to $15k-20k cars... What is everyone else's view on cars and the kind of money people spend on them. Whenever i see a BMW 7-series i always think, "man that's awesome" But now i'm gona say, "man what an idiot to spend $100k+ on a car.

I guess my next car is gona be a Subaru WRX. Straight cash homey.
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  #2  
Old 11-12-2005, 02:23 PM
Lazymeatball Lazymeatball is offline
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Default Re: Cars... M3-- Oporutnity Cost...

a Subaru WRX is my dream car. Aim low homie.
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  #3  
Old 11-12-2005, 02:31 PM
Blarg Blarg is offline
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Default Re: Cars... M3-- Oporutnity Cost...

I've always thought really expensive cars were pretty stupid, but then again I've never been in the position where the money was trivial to me.

I think that's the key. Here in L.A., people pretty much screw themselves over hard buying cars that are way too expensive to them, just slaves to their imagined social image. Then they live like crap in the rest of their lives because the car and the insurance breaks them. There's house-poor, which at least means you're working on increasing your capital and probably have a much better life overall, and then there's car-poor, which means you're just basically stupid.

I guess to me, cars in general should be minor expenses, not major ones. Kind of like what they say about yachts -- if you have to ask how much it costs, you can't afford it. Being a slave to a depreciating asset is retarded and speaks of severe ego problems an difficulties in dealing with reality. But if you're making enormous bucks, then an expensive car makes more sense, if the rest of your finances are truly in order. But there's no reason that someone should be buying cars that are any strain on their budget unless they're making so little money that every car would be a strain, and they have no choice. Savings, investments, and home ownership should always rank far higher in importance than flashy crap, even cool flashy crap like neato cars that one can find all kinds of rationalizations for.
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  #4  
Old 11-12-2005, 02:34 PM
slickpoppa slickpoppa is offline
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Default Re: Cars... M3-- Oporutnity Cost...

[ QUOTE ]
I've always thought really expensive cars were pretty stupid, but then again I've never been in the position where the money was trivial to me.

I think that's the key. Here in L.A., people pretty much screw themselves over hard buying cars that are way too expensive to them, just slaves to their imagined social image. Then they live like crap in the rest of their lives because the car and the insurance breaks them. There's house-poor, which at least means you're working on increasing your capital and probably have a much better life overall, and then there's car-poor, which means you're just basically stupid.

I guess to me, cars in general should be minor expenses, not major ones. Kind of like what they say about yachts -- if you have to ask how much it costs, you can't afford it. Being a slave to a depreciating asset is retarded and speaks of severe ego problems an difficulties in dealing with reality. But if you're making enormous bucks, then an expensive car makes more sense, if the rest of your finances are truly in order. But there's no reason that someone should be buying cars that are any strain on their budget unless they're making so little money that every car would be a strain, and they have no choice. Savings, investments, and home ownership should always rank far higher in importance than flashy crap, even cool flashy crap like neato cars that one can find all kinds of rationalizations for.

[/ QUOTE ]

I was gonna say something about guys who buy expensive cars having small penises, but that sums it up well.
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  #5  
Old 11-12-2005, 02:49 PM
_Kevin_ _Kevin_ is offline
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Default Re: Cars... M3-- Oporutnity Cost...

[ QUOTE ]
The cost of cars is throught the roof!!! If u want to buy a $55,000 car and put down 30,000. Payments are still going to be $800+/month for 36 months. Does that not seem absurd? I'l be making 6 figures plus coming out of college, but spending $12,000/year on a car is quite preposterous. Or if u want to lease w/ $0 down it's still 12,000/year for 36 months with nothing to show for it. What kind of people out there prefer spending that kind of money on cars instead of the peace of mind of living in a paid off home which APPRECIATES!?!?!? What kind of people buy expensive cars-- and do they THINK about better ways to spend their money? I've always, always, always, wanted an M3, but now that i look at it... it seems like a ludacrous (sp) investment. I've thought about having a nice car for a few years, but then i'd be "hooked" and wouldn't be able to go back to $15k-20k cars... What is everyone else's view on cars and the kind of money people spend on them. Whenever i see a BMW 7-series i always think, "man that's awesome" But now i'm gona say, "man what an idiot to spend $100k+ on a car.

I guess my next car is gona be a Subaru WRX. Straight cash homey.

[/ QUOTE ]

It's all a matter or priorities. I spend a fortune on cars because it's what I like. My motivation for getting a college degree was so I could buy expensive cars. My reward for having gotten my degrees is to buy what ever I want with the money I have left over after paying my bills and saving for retirement. I won't spend money I can't afford. We all have discretionary money, I chose to spend mine on cars.

FWIW, my daily driver is an M5. I can tell you that you will love the M3 if you get one.
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  #6  
Old 11-12-2005, 03:02 PM
Clarkmeister Clarkmeister is offline
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Default Re: Cars... M3-- Oporutnity Cost...

[ QUOTE ]
Whenever i see a BMW 7-series i always think, "man that's awesome" But now i'm gona say, "man what an idiot to spend $100k+ on a car.


[/ QUOTE ]

As you get older, you will realize that there are more ways to look at things than two extremes. Thinking "nice car" is usually sufficient. Why does the guy have to either be "lucky" or "an idiot". Why does your view on the car have anything to do with the owner at all?
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  #7  
Old 11-12-2005, 04:34 PM
J-Lo J-Lo is offline
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Join Date: Mar 2004
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Default Re: Cars... M3-- Oporutnity Cost...

[ QUOTE ]
[ QUOTE ]
Whenever i see a BMW 7-series i always think, "man that's awesome" But now i'm gona say, "man what an idiot to spend $100k+ on a car.


[/ QUOTE ]

As you get older, you will realize that there are more ways to look at things than two extremes. Thinking "nice car" is usually sufficient. Why does the guy have to either be "lucky" or "an idiot". Why does your view on the car have anything to do with the owner at all?

[/ QUOTE ]

good point... people have different priorities... And some DO have more money than they know with what to do... Econ 101, the marginal utility they give up for the marginal gain they get is worth it to them... I'm more or less a "penny-pincher" as in, i'd rather buy a $1,000,000 home than a $100,000 car... mainly becaues i know i can recover the $1,000,000 investment in a home, but can't get ANY return on the investment of a car, besides the experience... To each his own...

I think it has to do with the way i was brought up... quite poor. Rareley had money to do "nice" things... Lived in absolute trash homes, (my parents bought a house w/o a front door. Afet we moved in, my dad went dumpster diving to find a door for our front/main entrace in a VERY low-income neighborhood-- Maywood, Illinois)... I would always save money that i got for "rainy days." And i would always "want" things that i couldn't afford. Now that i can affor them, i don't want 'em, weird how things work. My parents did move out of there, and now make enough to put 3 kids through college at the same time. after playing the game which shall remain nameless, i can buy whatever i want, but i choose not to. I'l buy myself nice clothes, a movado, computers/videogames, but i haven't spent any money on big ticket items... the satisfaction/peace of mind i get from saving money is worth more than an M3 to me...

Another reason i can't see myself spending $$$ on things is because of my friends. They are all in college, and don't make chit. Even after they graduate they won't be in the same league as me. One of 'em got offered $52/year at KPMG (50k base w/ 2k signing bonus and 15% raises each year). And that's considered MUCHO $$$ for a college grad w/ a CPA. I live similair to the way they do, xcept I can splurge once in a while. I need to evaluate the way i value money... I hold in too high a spot. Maybe when i get older, i'l be comfortable w/ a 60k car...

i mainly made this thread as a "jebus, cars are hella xpensive."
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  #8  
Old 11-12-2005, 04:43 PM
Blarg Blarg is offline
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Default Re: Cars... M3-- Oporutnity Cost...

You're much better off as a young guy having the independence of mind to not buy the most expensive car you can possibly afford. Most people even with very good incomes all their lives don't retire well at all, because people at every financial level generally blow their money about as fast as they take it in, if not faster.

For young guys, who generally are completely caught up in conforming to what everyone else is doing, competitive about all the wrong things, and who generally can't really picture the future long-term enough to live accordingly, the temptation to blow their cash on flash and gash is often near overwhelming. Think of what just a few years of interest on that money can do for you if you had invested it instead of blowing it. You're much better off being too conservative financially than the opposite.

The only thing is, it can be hard on the ego when everyone else is throwing their cash around, especially since that is often taken as a sort of virtue or proof of mensch-hood. And there's nearly always someone to keep up with who is making way more money than you are, to help drag you down if you follow his cue. He'll often encourage you to do it, too, as part of his own little ego game.

Better to spend your money when there's a lot more of it than blow it as soon as you start getting into it.
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  #9  
Old 11-12-2005, 04:44 PM
diebitter diebitter is offline
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Default Re: Cars... M3-- Oporutnity Cost...

Oporutnity

I love this word!
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  #10  
Old 11-12-2005, 04:53 PM
Blarg Blarg is offline
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Default Re: Cars... M3-- Oporutnity Cost...

[ QUOTE ]
Oporutnity

I love this word!

[/ QUOTE ]

I'm sure I would too, but I couldn't find it in the dictionary.
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