Growing financial wealth vs Buying vehicles

[chungstachung]

Hey guys,
I've been pretty focused on finances lately and making smart decisions. But how do some of you justify owning a relatively nice vehicle but also growing your finances? Is owning a decent car completely against growing wealth? (sorry for the vague post, ill elaborate as the questions come)
Ex: I want to buy a 2013 audi s4.

[dtrieu]

The most ideal way would be to buy a car that is 1-2 years old when it's taken the biggest hit depreciation wise and drive it for a year and sell it before it's value drops more and is out of warranty. If you did that effectively on certain cars - you'd probably be even money or only lose a little bit from your purchase price to your selling price if you got a good deal.

[revelations]

The idea is that once you're well off financially, you can then buy what you want outright with cash. Growing wealth takes time and driving around in a massive depreciating asset makes zero sense if you can minimize that depreciation.

Buying an older Audi/Merc/BMW is a surefire way to lose money on maintenance headaches BTW>>> there are far better used performance vehicle choices out there.

[dj_patm]

Not every single thing you do has to be the most prudent financial decision.

If you love driving and cars increase your enjoyment of life, like they do for most people on here, then it's not a bad investment even if on paper it's awful.

So long as you don't take on too much and are okay with paying the interest and realize you're going to lose a lot of value and you understand how that effects your finances, who cares? Again, you're allowed to spend money on fun, otherwise wtf is the point?

This is all within reason of course.

[ercchry]

Have enough growth that you beat inflation, and the rest covers the finance/lease payments of your car

But most of use are getting kinda old... have homes already, well into careers, etc

[RealJimmyJames]

Cars are a good place to spend your wealth. That is all.

[eblend]

Two things.
1. Don't buy that Audi....I have two co-workers with Audi cars at work, both swear by them, and both plan on getting rid of them before the warranty runs out. Guess it's very expensive to maintain, I wouldn't know.

2. I bought my first brand new car at 33, which is what I am now, up until this point it has always been a reliable used car. During those years, I saved a ton of money not having car payments etc. Buying this new car I knew that it would lose money the moment I step foot into it, but I wanted it, I had the cash to pay it off right there and then. It makes 0 financial sense, but you make money to spend it, so if you enjoy it, why the hell not. Nothing in life is free, so once you are financially in the position to do so, go for it. It gives you enjoyment, peace of mind. It's not an investment, it's an instrument to your enjoyment, so just go for it.

As someone mentioned, most people on this forum are well into their careers now, not teenagers driving riced out civics, so more people have the money to buy cars they want. There will always be those who spend above their means just to keep up with the Joneses and finance cars left and right, like my co-worker, who is bewildered by the idea of not having a car payment. Tried to explain to him why it's a bad idea to buy a brand new car when his existing financing is almost up. His argument is "it will be cheaper monthly then I pay now!".....completely ignoring the fact that he will have to pay 5 years more, vs not having a payment at all. To some people....it's just something they do, or in his words "you will always have a car payment"....a great quote we tease him with all the time now.

[revelations]

Not every single thing you do has to be the most prudent financial decision.

If you love driving and cars increase your enjoyment of life, like they do for most people on here, then it's not a bad investment even if on paper it's awful.

So long as you don't take on too much and are okay with paying the interest and realize you're going to lose a lot of value and you understand how that effects your finances, who cares? Again, you're allowed to spend money on fun, otherwise wtf is the point?

This is all within reason of course.

Well, the original question had to do with reasonable financial choices for the average person.

If high end vehicles are a passion, and you arent a high earner, you wont get very far fiscally - but thats not the point then in those cases is it :)

[Sorath]

Do what makes you happy.

[max_boost]

Do what makes you happy.

Basically this.

The moment you start comparing yourself to others is where things get blurry.

Having said that I don't know a thing about you, how old you are, where you are in life etc.

[Xtrema]

Hey guys,
I've been pretty focused on finances lately and making smart decisions. But how do some of you justify owning a relatively nice vehicle but also growing your finances? Is owning a decent car completely against growing wealth? (sorry for the vague post, ill elaborate as the questions come)
Ex: I want to buy a 2013 audi s4.

Anything beyond a basic Civic is a want, not a need.

My take is my vehicle cost must be less than 10% of my net. So if my payment is $600/mth. I better be making at least $100K before tax. But that's my rule, other people are more lax. It's whatever you are comfortable with. Some people are ok with blowing crap load of $ gambling or booze. Everyone got a vice.

As for the car, I won't bother with high performance German cars that are out of warranty unless a) you know how to fix them and b) you have another car to drive while that car is down.

My experience is, the cheapest way to own Germans are from year 2 to year 4. Up to 6 years old is also ok if there is CPO warranty coverage. Once warranty is out, don't bother. Too many things can go wrong and when they do they cost way too much to fix. Or don't own, just lease. So if there's a problem, it's not really your problem.

Is owning a decent car completely against growing wealth?

Only if don't budget it correctly. But generally, cars are expenses and liability, not investment. The return is the joy it brings you because that's your vice.

[bigbadboss101]

When I buy a nice car, I often get buyer's remorse. I had my X3 for 1.5 years and decided I didn't want $1400 car payments. When Ryan was at BMW he arranged to buy the car back and pocketed a bit of cash. If one can afford it and it is feasible, then get the vehicle. With that said it is good to have $ in the bank for the rainy day fund. $ to help parents, siblings, and people you don't know. Yup, people you don't know. IMO to be able to afford giving someone $1400 a month beats a $1400 car payment.

[chungstachung]

fair enough, i've had my Tacoma for a few years now and the payments are just about done. Getting kind of bored with it and really don't need a truck anymore hence the itch to get back into a vehicle. Been working for a while and making decent money so I figured getting back into a fun "grown up performance" vehicle was a good idea but contradicts my financial plans.

[Buster]

Hey guys,
I've been pretty focused on finances lately and making smart decisions. But how do some of you justify owning a relatively nice vehicle but also growing your finances? Is owning a decent car completely against growing wealth? (sorry for the vague post, ill elaborate as the questions come)
Ex: I want to buy a 2013 audi s4.

I solved this problem by buying a car that ended up appreciating over the time I owned it.

[Sugarphreak]

...

[TYMSMNY]

I solved this problem by buying a car that ended up appreciating over the time I owned it.

which would be...

[chungstachung]

examples of said performance vehicles?!

[ercchry]

He is probably talking about the CTS-V wagon... it’s hard to find cars that will appreciate till it’s too late

Air cooled 911s are an example though... for modern stuff it’s usually a $$$ car to begin with though

Best bet is probably to find “the last of” something... I’ve picked the E9X M3 myself... worst case in the mid term is a value hold I suspect, helps that I only drove about 10k kms in the last year too

[Buster]

He is probably talking about the CTS-V wagon... it’s hard to find cars that will appreciate till it’s too late

Air cooled 911s are an example though... for modern stuff it’s usually a $$$ car to begin with though

Best bet is probably to find “the last of” something... I’ve picked the E9X M3 myself... worst case in the mid term is a value hold I suspect, helps that I only drove about 10k kms in the last year too

Ya, the CTS-V. Gone up about $10k since I bought it.

But I was being a bit sarcastic because you can't plan around that. It's just luck. Although there was a consensus that the Wagon would become a collectors item sometime in the future, no one expected it to appreciate in the short term.

[killramos]

For some people having a money pile and living in squalor makes them happy. For others they like to buy things like cars which makes them happy.

You just need to decide what kind of person you are.

Very similar to live to work and work to live people.

[ExtraSlow]

Nicest vehicle I ever bought myself was 24. Have twice bought the wife vehicles worth 30k.

All three vehicles at my house right now would be worth about 30k.

It's all about what's important to you.

[Buster]

For some people having a money pile and living in squalor makes them happy. For others they like to buy things like cars which makes them happy.

You just need to decide what kind of person you are.

Very similar to live to work and work to live people.

Other solution is to enjoy your job. I love what I do. It's fun. So you can have the best of both worlds.

[Aleks]

Hey guys,
I've been pretty focused on finances lately and making smart decisions. But how do some of you justify owning a relatively nice vehicle but also growing your finances? Is owning a decent car completely against growing wealth? (sorry for the vague post, ill elaborate as the questions come)
Ex: I want to buy a 2013 audi s4.

Pay as you go/lease. I lease cars with good residuals and make the small monthly payments instead of tying up the entire amount in the car. As long as the investment growth is more than what you pay in interest on the lease it's a win.

You made a good financial decision with the Tacoma. It has one of the best residual values of any new vehicle on the market so your total cost of ownership on that will be very low. If you get an S4 that may not be the case, but obviously it will be much more fun to drive.

[Chester]

I only buy what I can afford. If my car payments are more than what I save a month, no bueno.

[Xtrema]

I figured getting back into a fun "grown up performance" vehicle was a good idea but contradicts my financial plans.

It's simple, just make more $.

[88CRX]

You justify it because YOLO (is that still a thing)?

[Mostwanted]

I'm in this same dilemma, I'm 25 and have a great paying job and have been contemplating on buying something new and a bit more on the luxurious side. What I am currently doing is having separate saving accounts (6-8 month Emergency, Vacation, Play Money and my Chequing account is my bi-weekly spending budget), not including the TFSA & RRSP contributions. I make sure to reach my "goal" for each account in a given time. The thing is, no matter how much I have saved over time I feel the constant pressure to save even more since I don't currently have a mortgage or any other liabilities besides Rent. I have come to a conclusion to be happy with what you have, sure buy nice things when you can but don't be pressured to keep up with the Joneses. I have friends who make a lot less than me that own luxury cars and all these fancy things, it all depends on your TOLERANCE for debt in comparison with your financial growth. I sure wouldnt buy a new BMW,Lexus,Mercedes if I was making less than 50k a year, but thats just me and my 2 cents.

[rx7boi]

Hey guys,
I've been pretty focused on finances lately and making smart decisions. But how do some of you justify owning a relatively nice vehicle but also growing your finances? Is owning a decent car completely against growing wealth? (sorry for the vague post, ill elaborate as the questions come)
Ex: I want to buy a 2013 audi s4.

Some good answers here, I thought I'd put out my personal experience.

I sold my car earlier this year to pay off a LOC which was part of my mortgage down payment. That way, I only had the primary mortgage to worry about and it freed up an extra $500 a month.

I ended up buying a 2010 Civic for $8k but the plan was to use that $500 towards a used car Infiniti Q50S or an IS350.

Like you, I've been thinking about heavily about the future. I have a chance to put an extra $500 towards investments, or I can put that into a depreciating asset. I'm 31 now and since most of my money went to the car and mods, the house, and random hobbies over the years, this is a chance to hold off on a new car and put additional money back in the bank.

I looked at a car loan calculator and the numbers tell me a $32000 car OTD with $8000 down over 4 years and 2.99% will cost me $531 monthly. I even started looking at older cars in the $15k to $17k but didn't like the offerings.

IMO the short answer is, yes it will go against building wealth, but life isn't just about setting aside every penny. You have to live a little. For me, I'm just shifting my priorities for now. If I can build up an extra $15k and have it grow/compound earlier, I'll be in better shape down the road than if I started this process even later in life.

Either that, or you go and find a higher paying job.

[phreezee]

The last couple of years have changed my perspective. I'm more of a YOLO type of person now. I think you enjoy things more when you are younger.
Health isn't guaranteed down the line, so living large now and living minimally in the future is more attractive to me versus living middle of the road for 30 years.

I also don't get attached to assets and have no problem liquidating everything to hit the reset button if I had to.

[Manhattan]

Just do it. If you end up regretting it down the road then it will be an expensive life lesson that is just as valuable as the money you blew on the car.

Personally, my opinion is like someone else said earlier, anything more than a reliable Civic is more of a want than need. Marketers spend a lot of money and effort at (very effectively) making you believe the value of your car is closely tied to your self worth. It's the same as buying women diamonds when they're just rocks that really aren't all that rare or intrinsically valuable. Also, economy cars like Civics and CR-Vs are way nicer than they used to be. With the new technology and more efficient design its really the equivalent of a luxury car made 5 or 10 years ago.

Last thing, if you're single then splurge on the nice car you want. You have time to be responsible with money when you have a double income. :burnout:

[flipstah]

I only buy what I can afford. If my car payments are more than what I save a month, no bueno.

Best one here.

Buy whatever you want, so long as you can afford it. :thumbsup:

[JustinL]

Echoing everyone else here: It is important to save, but it's also important to enjoy life. A few years ago I had similar thoughts about owning my E46 M3. Why do I need an M3 as a daily driver when almost anything else would do. I got stuck with a rental Nissan Altima rental car for a few days and daily driving that thing made me not want to live anymore. It turns out I really like driving something interesting. More recently I switched that for a 2013 S4 and that's more money than I've ever spent on a car, but thankfully I like older German cars that everyone else is terrified of owning. If you can turn a wrench, there are some great deals to be had... but if you're paying someone else then stay away.

[blownz]

Like many people here have mentioned, I think it is about balance. If buying the car means you have no spare money to put into RRSP/TFSA/Emergency fund, then don't do it. If it isn't going to leave you paycheque to paycheque and you will enjoy it, go for it.



I sure wouldnt buy a new BMW,Lexus,Mercedes if I was making less than 50k a year, but thats just me and my 2 cents.

I don't think you can buy a new BMW/Lexus/Mercedes for under $40K and that seems like a really bad idea on less than $50K a year. Maybe $100K a year...

[revelations]

The last couple of years have changed my perspective. I'm more of a YOLO type of person now. I think you enjoy things more when you are younger.
Health isn't guaranteed down the line, so living large now and living minimally in the future is more attractive to me versus living middle of the road for 30 years.

I also don't get attached to assets and have no problem liquidating everything to hit the reset button if I had to.

As long as you are OK with zero/minimal income in your 60s, then thats fine. The CPP as we know it, will be gone. When you're young, you're susceptible to the marketing BS that corporations spew out through the MSM.

YOLO is probably one of the reasons why Calgary is the most personally indebted city in the world.

[01RedDX]

.

[Xtrema]

As long as you are OK with zero/minimal income in your 60s, then thats fine. The CPP as we know it, will be gone. When you're young, you're susceptible to the marketing BS that corporations spew out through the MSM.

YOLO is probably one of the reasons why Calgary is the most personally indebted city in the world.

Just like Phreeze, I have gradually eased on the hardline I take on finances. Part of it is the only uncertainty left is when I die, so YOLO.

You can't take it with you. And what's the point of being responsible when everybody else is dragging you and the whole country down.

[Chester]

....I sure wouldnt buy a new BMW,Lexus,Mercedes if I was making less than 50k a year, but thats just me and my 2 cents.


I wouldn't buy a new BMW, Lexus or Mercedes unless making 100k+, especially at 25.

[Mostwanted]

I don't think you can buy a new BMW/Lexus/Mercedes for under $40K and that seems like a really bad idea on less than $50K a year. Maybe $100K a year...

Oh, you would be surprised, the spending I see with younger people nowadays, seems like if you don't have a german car or a race car at 21 youre not living life LOL, then I see them working at the mall. Me, I am good with my Rav4 (daily) and my TSX, I have no problem with other peoples spending habits but when someone starts acting big because of their materialistic assets, thats when it bothers me haha! Hell, I see kids with $600+ shoes but cant even afford to go out buy breakfast/lunch.

[Xtrema]

Oh, you would be surprised, the spending I see with younger people nowadays, seems like if you don't have a german car or a race car at 21 youre not living life LOL, then I see them working at the mall. Me, I am good with my Rav4 (daily) and my TSX, I have no problem with other peoples spending habits but when someone starts acting big because of their materialistic assets, thats when it bothers me haha! Hell, I see kids with $600+ shoes but cant even afford to go out buy breakfast/lunch.

Or if you don't have an iPhone X, you are poor.

[R-Audi]

Ive been quite happy buying used cars, all under the $30k mark. Minimal loss when selling, but there has been some maintenance along the way. While I'll try most repairs myself, I figure maintenance is better than car payments.. Trick is buying things that you wont lose your shirt on and are fairly reliable. Decent luck so far with a few Audis and now two Lexus. Aren't the newest models, but new enough that there arent major concerns.

[Sugarphreak]

...

[Disoblige]

Best one here.

Buy whatever you want, so long as you can afford it. :thumbsup:
This is the issue though. Not everyone has the same definition of what affordability means.

Additionally, which I think is an important point, is a lot of people don't see saving as important as how much money they make. What's the difference between someone who makes 125k/year but spends it recklessly vs. someone who makes 95k but is financially savvy and has their money working more for them? Some people can really utilize their money to their advantage more so than others.

[Chester]

You can't win at life, it is just a bunch of stuff that happens and then you die. Key is to stop caring what other people think and try to make the most of it. Not baller enough... fuck you... too baller, fuck you too.


This.

[flipstah]

You can't win at life, it is just a bunch of stuff that happens and then you die. Key is to stop caring what other people think and try to make the most of it. Not baller enough... fuck you... too baller, fuck you too.
.

Only true ballers don't give a fuck :thumbsup:


This is the issue though. Not everyone has the same definition of what affordability means.

Additionally, which I think is an important point, is a lot of people don't see saving as important as how much money they make. What's the difference between someone who makes 125k/year but spends it recklessly vs. someone who makes 95k but is financially savvy and has their money working more for them? Some people can really utilize their money to their advantage more so than others.

Affordability is IMO, based on risk tolerance and your comfort level. But you're right, savings is important and savings>expense is always a safe bet if you can.

[msommers]

Key is to stop caring what other people think and try to make the most of it. Not baller enough... fuck you... too baller, fuck you too.

It's solid, accurate advice...Much easier said than done.

[max_boost]

most of us are gonna be dead in 50 years anyway lol i dunno about you but being closer to 40 vs 30, it's a countdown for me now haha gotta make life count

[Sugarphreak]

...

[Xtrema]

Some good news on that Front, the average lifespan for a Canadian male is 80 now. So it isn't until you hit 40 that your life is officially half over.

I suppose you could argue that the last 10 years or so are going to be garbage quality... but then again, so were your first 10 years. A little give and take, but 40 still seems like the pivot point.

I'm past 40 and my quality of life is already on decline compare to 30s.

I can on longer enjoy buffets or wing nights. Hang over last much, much longer. And god forbid I twist or break something, recovery takes much longer.

YOLO, get some of shit over with when you are young and can recover easily from vs when you are older. :rofl:

[chungstachung]

man you guys are awesome! Yeah I guess from my teen years up until the last few years i'd spend lots on cars, clothes, etc. Now a days i save quite a bit, read all the blog posts, finance books, etc. I certainly don't NEED a nicer car but WANT one. I've just developed the mentality that the longer I "hold off" buying something nice the more money i'll have to buy something "nicer". But lately started realizing that that timeline might be infinite and never ending LOL.

[rx7boi]

It's not infinite if your set your goals and reach them. If you reach them and then push them ahead and revise them with no actual intention to stop, then yes it may as well be never ending.

[Disoblige]

I'm past 40 and my quality of life is already on decline compare to 30s.

I can on longer enjoy buffets or wing nights. Hang over last much, much longer.
Holy fuck, this is depressing to read.

[Sugarphreak]

...

[max_boost]

Keep in mind I don’t think Xtrema lifts haha I truly believe strength training helps everything.

I do agree I don’t enjoy drinking and hangovers suck. MJ only for this guy or gin and tonic is ok haja

[msommers]

Hookers and blow for the older folks. Make Christmas arrive early this year!

[ExtraSlow]

Wait, so if 40 is the literal middle of your life, would ten years on each side be considered middle aged? Paging greydog.....

[Neil4Speed]

There is a young guy that just started working at my office, he looks like he is maybe 22? Brand new BMW, and he is looking at buying a 100K porshe. People are going to hate on him, but fuck that... good for him. I'd do the exact same thing if I had that kind of money. I could get out the big dick measuring stick, or try to belittle him by looking up his mortgage at a registry, but I'd rather be happy for the guy. There isn't enough of that these days.

Well stated! One thing I will say is that I find that I get less enjoyment out of material things as I have got older. My father always told me - "you have to enjoy these things while you are young", and I am starting to think that is correct.

[That.Guy.S30]

I'm super disappointed in max_boost these days. He used to be the king of YOLO.

Just buy the car. Live and learn. You want something? Save up, work hard and buy it. Simple. Fuck all that saving up noise.

[BavarianBeast]

80675


5% of my savings will be allocated towards vehicles.

[Manhattan]

I'm past 40 and my quality of life is already on decline compare to 30s.

I can on longer enjoy buffets or wing nights. Hang over last much, much longer. And god forbid I twist or break something, recovery takes much longer.


Depressing indeed but it doesn't have to be this way. WTF are you doing still going to buffet and wing night. Drink less of the higher quality wine/beer. Enjoy less quantity but much higher quality when dining. There's a reason that fine dining portions are tiny - it's not meant to feed a starving college student. You should have developed something called taste by the time you reach 40.

[revelations]

What older, and some mature young people, find is that your self worth (or other measure of success) is not so much "what I own" but "who I am" or "what I do".

If your an absolute passionate car nut, at the expense of everything else, then yea you probably will blow a lot of money on cars.

But if its just buying cars because "they are cool and make me look wealthy" then your essentially defrauding your own future.

[Xtrema]

Keep in mind I don’t think Xtrema lifts haha I truly believe strength training helps everything.

Yeah, need to get into that shit besides cardio.

The fact remain, you can abuse your body all you want in 20s and 30s, now it's quite a regiment/effort to keep it running as good as before.


Well stated! One thing I will say is that I find that I get less enjoyment out of material things as I have got older. My father always told me - "you have to enjoy these things while you are young", and I am starting to think that is correct.

:thumbsup:


Depressing indeed but it doesn't have to be this way. WTF are you doing still going to buffet and wing night. Drink less of the higher quality wine/beer. Enjoy less quantity but much higher quality when dining. There's a reason that fine dining portions are tiny - it's not meant to feed a starving college student. You should have developed something called taste by the time you reach 40.

It's not I don't adjust. Wing nights are few and far between now and I avoid AYCE like a plague. I'm just saying the difference you notice as you get older.

[Euro838]

YOLO = Buy the car or whatever the fuck you want! Do not get married or live with anyone and do not have kids!

[max_boost]

I'm super disappointed in max_boost these days. He used to be the king of YOLO.

Just buy the car. Live and learn. You want something? Save up, work hard and buy it. Simple. Fuck all that saving up noise.

When your friends have nice cars you don't need one for yourself haha

[phreezee]

Don't believe that 80 year non-sense. Lots of people die 55-65, just look at all the celebs of note in the last few years.

Fuck, I had some shrimp linguine, double-burger, pho, and a gin and tonic last week.... BOOM, gout attack and couldn't walk this week.
Being old sucks ass and I'm not even 40 yet. Enjoy shit while you are young and relatively healthier.

[redblack]

Fck, all this talk about getting old is depressing. I’m going to head down and talk to glenmore Audi about a RS3 #yolo

[Xtrema]

Don't believe that 80 year non-sense. Lots of people die 55-65, just look at all the celebs of note in the last few years.

Fuck, I had some shrimp linguine, double-burger, pho, and a gin and tonic last week.... BOOM, gout attack and couldn't walk this week.
Being old sucks ass and I'm not even 40 yet. Enjoy shit while you are young and relatively healthier.

FYI, Shrimp and Pho and both bad if you suffer from gout.


Fck, all this talk about getting old is depressing. I’m going to head down and talk to glenmore Audi about a RS3 #yolo

Hell yeah.

[max_boost]

YOLO = Buy the car or whatever the fuck you want! Do not get married or live with anyone and do not have kids!

I like this advice


Hookers and blow for the older folks. Make Christmas arrive early this year!

Minus the blow and it's still a fantastic time haha

[phreezee]

FYI, Shrimp and Pho and both bad if you suffer from gout.


I know this. lol. Hadn't had an attack in a year and thought I was cured haha.

[revelations]

Lots of people die 55-65, just look at all the celebs of note in the last few years.


Dude, seriously dont follow any celebs of any kind. They are completely off the normal path.

[blownz]

^ No shit. And most that die at that age it is from an OD.

Cancer can definitely get you at a "young" age (ie before 60), but in general, if you are healthy at age 40, you should assume you will live at least another 40 years. Treatment and medicine are only getting better all the time.

I think there will be a ton of broke seniors in the future if so many people think they won't live past 65. CPP and OAS and nothing else is basically living in poverty.

[flipstah]

Fck, all this talk about getting old is depressing. I’m going to head down and talk to glenmore Audi about a RS3 #yolo

RS3 hypebeast. Buy the TTRS instead. Looks nicer.

[Xtrema]

^ No shit. And most that die at that age it is from an OD.

Cancer can definitely get you at a "young" age (ie before 60), but in general, if you are healthy at age 40, you should assume you will live at least another 40 years. Treatment and medicine are only getting better all the time.

I think there will be a ton of broke seniors in the future if so many people think they won't live past 65. CPP and OAS and nothing else is basically living in poverty.

If you are 40 right now, expect another 60-80 years at the very least, if most of our grandparents are living into 80s and 90s.

There is enough medical advances that will string us along.

There will always be people expiring early, but that will be exception instead of norm.

[mrsingh]

Fck, all this talk about getting old is depressing. I’m going to head down and talk to glenmore Audi about a RS3 #yolo

Wow I have been doing this all wrong, downsizing the past couple years. I guess it is time to go look at a 911 Turbo

[phreezee]

^ atta boy! No matter what side you are on the life expectancy debate, I still hold that level of enjoyment will decline at older ages.

[flipstah]

Wow I have been doing this all wrong, downsizing the past couple years. I guess it is time to go look at a 911 Turbo

Winning! Meanwhile, I look for vehicles that wants to immolate itself.

[Seth1968]

Don't get married and don't have kids. And for the love of god, don't ever have anyone live with you. Why? because once the honeymoon is over they're going to soak you.

Stay single, have your occasional flings / hookers, or whatever you desire, and buy whatever the fuck you want.

But alas Seth! what about my retirement? Options:

1) Get a bachelor apartment and watch TV all day (while in the nude of course)

2) Join some sort of seniors club and hook up with a sugar momma. They're out there by the thousands, and as long as you can string a sentence together, you're good to go:)

[ExtraSlow]

Agree with Seth but only exception would be of you date/marry older lady who is much richer than you and who is having zero more kids.

[dj_rice]

I wouldn't buy a new BMW, Lexus or Mercedes unless making 100k+, especially at 25.

Is buying a new Infiniti @ 34 making under $100K okay?

[zhao]

Is buying a new Infiniti @ 34 making under $100K okay?

i dunno, tell us what kind of deal you got? lol :drama:

[Diocletian]

I find it ironic that most help insure that they are never truly wealthy by buying cars to make them look wealthy

[RealJimmyJames]

I find it ironic that most help insure that they are never truly wealthy by buying cars to make them look wealthy
Ensure

[SkiBum5.0]

Ensure

He knows everything, so he must have meant that people are insuring their cars too much, thus limiting their ability to be wealthy.

[Hallowed_point]

I'm planning on a C6 Z06 at around 38-40. I have equity in my condo and have minimal consumer debt. I agree on enjoying life while you're young
and live a little more humble as you age. If I make it to 70-80, I don't think I would want to have any crazy toys that I couldn't handle. There is
nothing more sad to me than seeing grandpa fumble around in his Corvette while driving it like a Camry. I want to have my performance toy while
I'm still physically and mentally sharp enough to really enjoy it. Heck, I think a C6 Z06 is 40 K now. Depreciation is awesome!!

I agree on buying a 2-4 year old car that has already taken the biggest depreciation hit. My trouble is hanging onto cars long enough to not be
at all upside down! Longest I've lasted so far is just shy of 3 years with my Z28. Did well with that one. Paid $9900 and sold it for $7500 while having
a ton of fun in the process. Cars aren't investments ;)

[jwslam]

My Q5 makes me feel poor... everybody I see has the SQ5, lol
I'm waiting for when you offer to sell me that Q5 :P

[SkiBum5.0]

I'm planning on a C6 Z06 at around 38-40. I have equity in my condo and have minimal consumer debt. I agree on enjoying life while you're young
and live a little more humble as you age. If I make it to 70-80, I don't think I would want to have any crazy toys that I couldn't handle. There is
nothing more sad to me than seeing grandpa fumble around in his Corvette while driving it like a Camry. I want to have my performance toy while
I'm still physically and mentally sharp enough to really enjoy it. Heck, I think a C6 Z06 is 40 K now. Depreciation is awesome!!

I agree on buying a 2-4 year old car that has already taken the biggest depreciation hit. My trouble is hanging onto cars long enough to not be
at all upside down! Longest I've lasted so far is just shy of 3 years with my Z28. Did well with that one. Paid $9900 and sold it for $7500 while having
a ton of fun in the process. Cars aren't investments ;)

The case for driving nice cars is exactly as your last line illustrates: Your Z28 cost $2400 to own (plus maintenance) over 3 years - pretty good. You could apply the same math to a high-end sports car, C6 Zo6 in your case. Buy it for $40,000 (have to buy under market value), then sell it 3 years later for $37,600. Completely doable and gets you a way better car, for the same amount of money (plus maintenance). Ages ago Chris Harris presented that model when asked how he afforded a Ferrari 550, as well as his RS 4.0. The only thing you are sacrificing is the opportunity cost of the money involved.

[Hallowed_point]

The case for driving nice cars is exactly as your last line illustrates: Your Z28 cost $2400 to own (plus maintenance) over 3 years - pretty good. You could apply the same math to a high-end sports car, C6 Zo6 in your case. Buy it for $40,000 (have to buy under market value), then sell it 3 years later for $37,600. Completely doable and gets you a way better car, for the same amount of money (plus maintenance). Ages ago Chris Harris presented that model when asked how he afforded a Ferrari 550, as well as his RS 4.0. The only thing you are sacrificing is the opportunity cost of the money involved. Hmmmmm..is 32 too young for a C6 Z06? :burnout:. Key part is as you say, not overpaying to begin with!

[vengie]

The case for driving nice cars is exactly as your last line illustrates: Your Z28 cost $2400 to own (plus maintenance) over 3 years - pretty good. You could apply the same math to a high-end sports car, C6 Zo6 in your case. Buy it for $40,000 (have to buy under market value), then sell it 3 years later for $37,600. Completely doable and gets you a way better car, for the same amount of money (plus maintenance). Ages ago Chris Harris presented that model when asked how he afforded a Ferrari 550, as well as his RS 4.0. The only thing you are sacrificing is the opportunity cost of the money involved.

What also isn't factored into this is the modifications to the vehicle.

You will never get that money back.

[HiTempguy1]

Ensure


He knows everything, so he must have meant that people are insuring their cars too much, thus limiting their ability to be wealthy.

Dictionary

: to make certain especially by taking necessary measures and precautions

That is a fairly neutral definition, insure can be both used in the positive and negative connotations, one can certainly "make certain by making necessary measures and precautions" that they never have wealth. Also, writing Ensure always makes me think of the food supplement drink, regardless of the actual context. Insure/Ensure are essentially interchangeable FOR ALL INTENSIVE PURPOSES :rofl: (the capitalized portion is a joke)

[Hallowed_point]

What also isn't factored into this is the modifications to the vehicle.

You will never get that money back.

Yep. And it most cases, that will make the value of the vehicle decline and limit potential buyers. However, if you're smart and keep your stock parts you can swap things back to normal and get 50 cents on the dollar for the modifications.

[jaylo]

My vote is to grab a 2013 Audi S4/S5 6MT, a well-maintained one will have little to no issues. Of course the tires and brake set are not cheap, but not overly expensive if you shop around.

Actually, while you're young and no responsibilities, I would start with an impractical vehicle like a Honda S2000 or 2009+ Porsche Cayman S and get that out of your system before getting a sedan.

If you must have a sedan but scared of maintenance issues then try to look for a 2010+ Lexus IS-F.

[flipstah]

My vote is to grab a 2013 Audi S4/S5 6MT, a well-maintained one will have little to no issues. Of course the tires and brake set are not cheap, but not overly expensive if you shop around.

Actually, while you're young and no responsibilities, I would start with an impractical vehicle like a Honda S2000 or 2009+ Porsche Cayman S and get that out of your system before getting a sedan.

If you must have a sedan but scared of maintenance issues then try to look for a 2010+ Lexus IS-F.

Is the 2013 S5 the V8 still? Because the supercharged V6 S4 is a rocket.

[Hallowed_point]

My vote is to grab a 2013 Audi S4/S5 6MT, a well-maintained one will have little to no issues. Of course the tires and brake set are not cheap, but not overly expensive if you shop around.

Actually, while you're young and no responsibilities, I would start with an impractical vehicle like a Honda S2000 or 2009+ Porsche Cayman S and get that out of your system before getting a sedan.

If you must have a sedan but scared of maintenance issues then try to look for a 2010+ Lexus IS-F.

I don't do the sedan thing, but a manual S5 would be pretty wicked. Can you get a 6mt coupe non vert?

[jutes]

Not sure if I'd go the Audi S4 route, but my fondest memories was blasting in my now gone E92 M3 down highway 28 on Van Island to Gold River. Just everything fit together perfectly, the car (the V8 and DCT were meant for each other) and the road + scenery. Financially speaking it probably wasn't the best purchase. 09' M car @ $50k with no warranty. Sold it three years later for a $10k loss to fund a house purchase + basement build. For now I'm in a boring ol' Acura. I have no regrets with any of my previous performance cars, sure they were expensive but life is short and before you know it you are in your 30's and 40's. Enjoy life, within your means, while you are still young.

[flipstah]

I don't do the sedan thing, but a manual S5 would be pretty wicked. Can you get a 6mt coupe non vert?

You can, but it's rare. Buddy of mine bought a white S5 in 6MT non-vert but sniped on it the moment it showed up.

[Hallowed_point]

You can, but it's rare. Buddy of mine bought a white S5 in 6MT non-vert but sniped on it the moment it showed up.

Cool... S5 6-6

[chungstachung]

how bad can an S4 be? what are some comparable sport/luxury sedans that come in manual?

[jutes]

how bad can an S4 be? what are some comparable sport/luxury sedans that come in manual?

E90 M3, although the 6MT kinda sucks in it.

[ercchry]

E90 M3, although the 6MT kinda sucks in it.

It’s a little notchy... but I wouldn’t say it sucks at all

[Xtrema]

how bad can an S4 be? what are some comparable sport/luxury sedans that come in manual?

Manuals are hard to find in this class, period. And I don't trust DCT for longevity.

[Twin_Cam_Turbo]

Shit reading this last page of this thread is talking me into another car haha.