if someone wants to spend 40K on a new car and can afford it, good on them. if they're stupid enough to stretch themselves thin to do it, well what can you do. if you had the cash and chose payments in order to invest in something else at the same time, i see nothing wrong with that.
i used to love cars when i was young. now, as long as it's safe and reliable and meets my practical needs, i'm happy. i just don't care anymore. i still take good care of them but it's not fanatical. it just not as important that i have some awesome car. and given my family of origin, this is a big change.
i bought both my cars outright. the family vehicle was bought new but it's hauling my baby and we'll have it for a good long time. my commuter car was 3 years old but well-maintained and still has warranty.
so i should take $15,000 and buy a used car huh????
or...
i could take $2000 ...put a downstroke on a car.....get my monthy payments that i can afford......
take the other $13,000 and put a down stroke on some re-hab property.....
makes more sense to me....
i agree.
it's foolish to take a large chunk of money out of the bank to buy a car.
my point is you should be able to afford your car payment. cars are not an investment and even though it looses value the moment you drive it off the lot, you're paying to drive a new car with a warranty and new features that a used car may not have. so the drop in value is comparable to have something reliable and comfortable. you get what you pay for.
imagine, for that 32 grand, one could pick up a junker, pretty much replace everything, including the engine and tranny, have it painted, and have money left over...
and not having any knowledge about cars is a waste of money in itself...it's like having the word "sucker" tattooed on your forehead...
with the internets and the message boards devoted to vehicles of all shapes and sizes, one can find out how fix a car, or at least what needs repaired prior to dealing with a mechanic...
Right on playa. Somewhat related subject....
A buddy of mine that lives in my hood just sold his house to a couple in their 40's. The buyer financed in $8 of closing costs on top of financing the entire selling price of the house. No downpayment, no savings. It's an interest only loan for 3 years and then the payment will absolutely expload. Plus this couple isn't married and is buying/financing the house jointly.
There is no way these folks are making a good, informed decision by buying this house. I'm all for personal responsibility, but not everyone is financially sophisticated and buyers rely on the knowledge of the loan officer. Cases like the above is flat-out predatory in my mind, but also I can't believe that this bank is taking this risk (which explains the high closing costs and nothing but interest payments for 3 years).
Needless to say, I predict this house will be repo'd by the end of 2008 and I'm keeping an eye on it to see if it ends up on auction.
When it comes to cars and frankly any purchase it is a personal thing.
I won't buy used cars because I know jack about cars. I know I should learn and probably could learn but I don't. I buy new because then I am not buying anybody elses problems. Plus with warranties I can feel comfortable with a new car that it will run for minimum amount of time. After I buy the car I hold on to it until it is ready to drop (aka major problems, transmission or engine), then I make a decision on affordability.
Now I do smile when I see someone driving something like a BMW because I always think they are someone who needs to spend 10k to 20k for the name and for a moment I realize I am not the only screwed up person in the world.
We all have reasons for the decisions we make, and while these (and many other) decisions don't make sense to me, it is not my place to judge, although I do it daily.
You had one very good point and one so so point due to your first point.......I'm sure many buy new because they don't know about cars...and being in the automotive industry for 20 years I can tell you people don't take care of their cars as they should and thus when you buy used..you could be buying a POS. Now as far as BMW's goes..there are two different people that buy BMW's. First are the ones your referring to..they buy them for the image. The second are car enthusiasts that understand the engineering that goes into a BMW. The suspension, Drive trains...they're ALL Rear wheel drive..rather than Front wheel drive. They last...a long time....and now I'm telling on myself.....I've owned three recently...having one still. 1991 with 240,000 miles drove like a dream when I sold it, 1994 with 180,000 miles...looked new and drove the same...and currently own a 1989 with 170,000 on the odometer..and two weeks ago drove from Houston to Florida and back without blinking an eye, been to Vermont and back twice in last two years (long ass haul)..and will be using it to go anywhere PJ plays this year....well not Chicago..as I'm not a fan of festivals, would never do that with a Ford, GM or Chrysler........there is substance to owning high profile cars.....but as you said there are many posers.
You had one very good point and one so so point due to your first point.......I'm sure many buy new because they don't know about cars...and being in the automotive industry for 20 years I can tell you people don't take care of their cars as they should and thus when you buy used..you could be buying a POS. Now as far as BMW's goes..there are two different people that buy BMW's. First are the ones your referring to..they buy them for the image. The second are car enthusiasts that understand the engineering that goes into a BMW. The suspension, Drive trains...they're ALL Rear wheel drive..rather than Front wheel drive. They last...a long time....and now I'm telling on myself.....I've owned three recently...having one still. 1991 with 240,000 miles drove like a dream when I sold it, 1994 with 180,000 miles...looked new and drove the same...and currently own a 1989 with 170,000 on the odometer..and two weeks ago drove from Houston to Florida and back without blinking an eye, been to Vermont and back twice in last two years (long ass haul)..and will be using it to go anywhere PJ plays this year....well not Chicago..as I'm not a fan of festivals, would never do that with a Ford, GM or Chrysler........there is substance to owning high profile cars.....but as you said there are many posers.
It's tough to buy even a well looked at truck or 4x4 used, because you don't know where it's from or how much abuse it may have incurred in it's life. Northern vehicles always have rust issues with road salt and that effects the entire undercarriage.
I love Bimmers too, my favorite cars to drive though I likely will not own one at least for the time being, maybe a motorcycle. I'm extremely happy with my practical Toyota Tacoma. If money were no object, an M3 or M5 would certainly be in my driveway. I do tend to laugh at people who seem to buy the C series Mercedes or 3 series BMW or Porsche Boxter as part of the Corporate Success look at me kit, but BMW's are great vehicles and there are exceptions in every field. Fantastically engineered vehicles.
Driving my truck after 8 years worth of Front wheel drive in my Accord make me realize how much I like RWD.
My Girlfriend said to me..."How many guitars do you need?" and I replied...."How many pairs of shoes do you need?" She got really quiet.
You had one very good point and one so so point due to your first point.......I'm sure many buy new because they don't know about cars...and being in the automotive industry for 20 years I can tell you people don't take care of their cars as they should and thus when you buy used..you could be buying a POS. Now as far as BMW's goes..there are two different people that buy BMW's. First are the ones your referring to..they buy them for the image. The second are car enthusiasts that understand the engineering that goes into a BMW. The suspension, Drive trains...they're ALL Rear wheel drive..rather than Front wheel drive. They last...a long time....and now I'm telling on myself.....I've owned three recently...having one still. 1991 with 240,000 miles drove like a dream when I sold it, 1994 with 180,000 miles...looked new and drove the same...and currently own a 1989 with 170,000 on the odometer..and two weeks ago drove from Houston to Florida and back without blinking an eye, been to Vermont and back twice in last two years (long ass haul)..and will be using it to go anywhere PJ plays this year....well not Chicago..as I'm not a fan of festivals, would never do that with a Ford, GM or Chrysler........there is substance to owning high profile cars.....but as you said there are many posers.
Someone who gets it!
The joy of driving a german car. or italian! Taking it on a track, throwing it into a corner. Understanding how it all works. The music the engine makes.
BMW M cars, Merc AMGs, Ferrari cars, The 911 Porsche. all just sooooo good.
If anyone does'nt get what i'm saying, go down to the dealer and ask for a test drive. just one time.
The joy of driving a german car. or italian! Taking it on a track, throwing it into a corner. Understanding how it all works. The music the engine makes.
BMW M cars, Merc AMGs, Ferrari cars, The 911 Porsche. all just sooooo good.
If anyone does'nt get what i'm saying, go down to the dealer and ask for a test drive. just one time.
vendor throw me the keys to his S55 few years ago...said bring it back tomorrow......had 16 hour wood.
I completely agree. I'm one of the idiots bought a brand new ford explorer back in 02. $533 a month... I wanted to shoot myself every month when I wrote that payment out.
Cars are worthless. The most expensive disposable item created.
Fortunately I was paying no interest.
I bought an Explorer back in 1998 and after I bought it I heard somebody call it a Ford Exploder. I knew very soon why they called it that. That car was a piece of shit. It was constantly at the dealer for one problem or another. It was all covered by warranty but damn it was annoying.
one foot in the door
the other foot in the gutter
sweet smell that they adore
I think I'd rather smother
-The Replacements-
Comments
i used to love cars when i was young. now, as long as it's safe and reliable and meets my practical needs, i'm happy. i just don't care anymore. i still take good care of them but it's not fanatical. it just not as important that i have some awesome car. and given my family of origin, this is a big change.
i bought both my cars outright. the family vehicle was bought new but it's hauling my baby and we'll have it for a good long time. my commuter car was 3 years old but well-maintained and still has warranty.
both are pretty much invisible.
i used to drive a red mustang.
i agree.
it's foolish to take a large chunk of money out of the bank to buy a car.
my point is you should be able to afford your car payment. cars are not an investment and even though it looses value the moment you drive it off the lot, you're paying to drive a new car with a warranty and new features that a used car may not have. so the drop in value is comparable to have something reliable and comfortable. you get what you pay for.
Right on playa. Somewhat related subject....
A buddy of mine that lives in my hood just sold his house to a couple in their 40's. The buyer financed in $8 of closing costs on top of financing the entire selling price of the house. No downpayment, no savings. It's an interest only loan for 3 years and then the payment will absolutely expload. Plus this couple isn't married and is buying/financing the house jointly.
There is no way these folks are making a good, informed decision by buying this house. I'm all for personal responsibility, but not everyone is financially sophisticated and buyers rely on the knowledge of the loan officer. Cases like the above is flat-out predatory in my mind, but also I can't believe that this bank is taking this risk (which explains the high closing costs and nothing but interest payments for 3 years).
Needless to say, I predict this house will be repo'd by the end of 2008 and I'm keeping an eye on it to see if it ends up on auction.
You had one very good point and one so so point due to your first point.......I'm sure many buy new because they don't know about cars...and being in the automotive industry for 20 years I can tell you people don't take care of their cars as they should and thus when you buy used..you could be buying a POS. Now as far as BMW's goes..there are two different people that buy BMW's. First are the ones your referring to..they buy them for the image. The second are car enthusiasts that understand the engineering that goes into a BMW. The suspension, Drive trains...they're ALL Rear wheel drive..rather than Front wheel drive. They last...a long time....and now I'm telling on myself.....I've owned three recently...having one still. 1991 with 240,000 miles drove like a dream when I sold it, 1994 with 180,000 miles...looked new and drove the same...and currently own a 1989 with 170,000 on the odometer..and two weeks ago drove from Houston to Florida and back without blinking an eye, been to Vermont and back twice in last two years (long ass haul)..and will be using it to go anywhere PJ plays this year....well not Chicago..as I'm not a fan of festivals, would never do that with a Ford, GM or Chrysler........there is substance to owning high profile cars.....but as you said there are many posers.
It's tough to buy even a well looked at truck or 4x4 used, because you don't know where it's from or how much abuse it may have incurred in it's life. Northern vehicles always have rust issues with road salt and that effects the entire undercarriage.
I love Bimmers too, my favorite cars to drive though I likely will not own one at least for the time being, maybe a motorcycle. I'm extremely happy with my practical Toyota Tacoma. If money were no object, an M3 or M5 would certainly be in my driveway. I do tend to laugh at people who seem to buy the C series Mercedes or 3 series BMW or Porsche Boxter as part of the Corporate Success look at me kit, but BMW's are great vehicles and there are exceptions in every field. Fantastically engineered vehicles.
Driving my truck after 8 years worth of Front wheel drive in my Accord make me realize how much I like RWD.
i felt that way after my first drive in snow conditions with AWD. "where have you been all my life?!"
Someone who gets it!
The joy of driving a german car. or italian! Taking it on a track, throwing it into a corner. Understanding how it all works. The music the engine makes.
BMW M cars, Merc AMGs, Ferrari cars, The 911 Porsche. all just sooooo good.
If anyone does'nt get what i'm saying, go down to the dealer and ask for a test drive. just one time.
haha!
Happens to me all the time.
I bought an Explorer back in 1998 and after I bought it I heard somebody call it a Ford Exploder. I knew very soon why they called it that. That car was a piece of shit. It was constantly at the dealer for one problem or another. It was all covered by warranty but damn it was annoying.
the other foot in the gutter
sweet smell that they adore
I think I'd rather smother
-The Replacements-