I was just in a pretty wealthy area and wondered if all of the people who were driving Mercedes, BMW's, Audi's, etc had made it. A lot of the houses along the beach were well over 1 million plus as well. I'm sure some had made it big, but I think there were a lot of overextended people stressing about the recent stock market crash as well.
What car says “I made it”?
- Thread starter snakedoctor
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my boss drives an S63 on a lease.
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Let someone else take the hit on depreciation and catch it on the ‘for sale by owner’ lists. Bought a fully loaded 2012 F150 Lariat 4x4 SCAB in 2014 w/less than 50,000mi on it for $30,000. It stickered for $54,000. Looked like the hitch had never been used. CA truck that never saw roadsalt. Just turned 100,000 no-trouble miles.
Got in-laws living in a trailer park in Merced,CA. Went to visit them one day after the housing bust and noticed most of the spaces had new-ish BMW, Audi, Jaguars, etc. in the car ports. Asked my BIL what the deal was. He just laughed and said they were all newby’s to the park who lost homes in the bust. All they had to show for their refi mistakes was the cars they paid cash for. You never know.
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around here, if you see an old man driving around in a new car with dealer plates you know he's the richest dude within a 10 mile radius because he owns 6 dealerships down to the land they're on, and a bunch of commercial and residential property.
I think the "I made it" for the Wife and I are simple
New nice F150 (which we just bought)
Newer Jeep/4Runner/Expl Sport/SUV of some sort for her (in due time)
Cool mustang in the garage (which we have)
After that, it's not really something we are going to pursue. We are pretty happy with what we have now.
New nice F150 (which we just bought)
Newer Jeep/4Runner/Expl Sport/SUV of some sort for her (in due time)
Cool mustang in the garage (which we have)
After that, it's not really something we are going to pursue. We are pretty happy with what we have now.
Haven't had a car payment in 7 years.
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30, but what did y’all expect. lol
they need to make a four door. like a Panamera
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24, but yer A LOT older than me.
Every man should buy at least one shiny new truck in his life. I bought mine in January.
Right. People who have actually made it pay cash.
Not true. If you can finance at a low enough rate its better to invest the cash and let it out pace the loan.
They taught us that in business school 40 years ago. "Leverage" "Use other people's money". I get that.
I once sold cars between careers years ago waiting on a non-compete contract to expire to start my business. Generally speaking, the people who could pay cash for cars, did.
Including me.
If your expensive car is involved in an accident and repaired it has diminished value. If you lease the same car and its wrecked, you arent stuck with it. if its totaled, the lease is over.
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We financed my wife's F150 at 84 months to get the Ford credit bonus. After 3 payments we refinanced and paid it down to 48 months. We're way ahead of the depreciation.
Well that makes sense.
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