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| waltman |
 Posted: Sun Jun 26, 2005 2:33 pm Post subject: Skip the BMW - Put the money in your house |
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Investing Sr. Associate
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The people we bought our house from had two - yes TWO- BMWs. One of which was that SUV for $70,000 or so. We could not afford this house with that kind of car payment.
Which got me to thinking - why do people put $70K into a car which DEPRECIATES every year (say around 10%), instead of buying a $20,000 car and putting the extra $50K into a house which APPRECIATES anywhere from 2% to 5% on up??
Can you commute to work faster in a really expensive car? |
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| chahsiubow |
| Posted: Sun Jun 26, 2005 4:39 pm Post subject: |
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Investing Sr. Associate
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| It's all about instant gratification. That, or they're really rich. |
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| waltman |
| Posted: Tue Jun 28, 2005 2:09 am Post subject: |
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Investing Sr. Associate
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I don't think they were "really rich"- I think they were leveraged up to their eyeballs in debt.
We saw some of the numbers on the mortgage papers - they only put like 5% down, then refinanced and got a home equity loan on top of that. |
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| Grimreaper |
| Posted: Tue Jun 28, 2005 5:21 am Post subject: |
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CFO
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Waltman, looks like they indeed did exactly what the ave. U.S. household has done, used the equity in their homes to buy the finer things in life, looks like those fokes you bought your home from got away scot free, some others who mortgaged up to the current inflated appraisal prices may not be so lucky, I hope the fokes you bought your home from at least covered all of your closing costs since it appears you paid for both of those Beemers!  |
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| Im Not Warren Buffett |
| Posted: Sat Dec 03, 2005 2:39 pm Post subject: |
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CFO
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Well there are so many arguments against buying new cars, but some people just need to get that new car smell. Coincidentally, that smell is given off by the toxins used in producing the car  ... I wonder how many people know that.
Still, conventional wisdom goes out the window because some things are just so damn sexy you can't resist.
Example:
I rest my case. |
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| geb9696 |
| Posted: Sat Dec 03, 2005 2:45 pm Post subject: |
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Investing VP
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| I like the old m5 more. Another arguement agaisnt buying a new car is that most likely you are going to get into an accident. The car that I drive has been in 5 accidents since I got it 2 years ago. Had it been that m5 it probally would have been totaled atleast once. Is it really worth it to buy a nice car? I dont believe it is. |
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| stockmarkettips |
| Posted: Sat Dec 03, 2005 6:21 pm Post subject: |
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Investing Manager
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How about a sexy electric car from ZAP? They won't set you back more than 10 K. They're quiet and easy to park in the city. I like the idea of perpendicular parking.
( Photos from http://zapworld.com ) |
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| geb9696 |
| Posted: Sun Dec 04, 2005 7:16 am Post subject: |
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Investing VP
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| What type of accerlation do these things get? I saw the one model had only 60 hp? Also I couldnt see myself buying a car that has a top speed of 85mph. At this point I drive on the highway twice a day. That type of car wouldnt really be practical for me. |
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| frusnak |
| Posted: Sun Dec 04, 2005 7:36 am Post subject: |
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CFO
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| stockmarkettips wrote: | How about a sexy electric car from ZAP? They won't set you back more than 10 K. They're quiet and easy to park in the city. I like the idea of perpendicular parking.
( Photos from http://zapworld.com ) |
 Looks like a pair of shoes I once had |
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| Im Not Warren Buffett |
| Posted: Sun Dec 04, 2005 7:59 am Post subject: |
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CFO
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| I think I'll stick to the 500 hp M5, unless I feel like making a jump to the 605 hp SL 65 AMG. Gas prices be damned, I want to be able to go 0-60 in under 5 seconds. |
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| geb9696 |
| Posted: Sun Dec 04, 2005 8:07 am Post subject: |
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Investing VP
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| 0-60 in 5 seconds?? Why not get a 911 Turbo and do it in around 4? |
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| Im Not Warren Buffett |
| Posted: Sun Dec 04, 2005 9:27 am Post subject: |
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CFO
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The new Carrera S is slow, is does it in like 4.6 seconds. If you're going for a Porsche, you need to roll mad deep and get the Carrera GT. For just under half a million, you get 0-62 in 3.9 seconds. I've touched one.
If you are the true OG, then you get the Saleen S7. Twin turbo, 750 horsepower, 60 mph in 2.8 seconds. Its also aerodynamically designed so it generates its own weight in downforce at 160 mph, so you could theoretically drive it upside down (like ontop of a tunnel in Men in Black).
Don't worry, you'll see all those cars some day, like when you're washing mine! |
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| raspberry24 |
| Posted: Sun Dec 04, 2005 9:27 am Post subject: |
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Member of the Month
May
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| That car is crazy. It looks like a death trap to me. I bought a 2 year old car and paided it off in a year in a half. It is nice not to have a car payment. I guess I have never been into fancy cars. I do like cars that have seat warmers though.... now that's fancy! lol.... |
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| geb9696 |
| Posted: Sun Dec 04, 2005 10:38 am Post subject: |
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Investing VP
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| Seat warmers are a must. I hate getting into a car and the seat being cold. In the morning a warm seat makes the long treck to practice at 5 am that much more bearable. |
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| gogeta9118 |
| Posted: Sun Dec 04, 2005 10:44 am Post subject: |
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Investing Sr. Associate
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sexy cars? i'm all about hybrids.
above is the honda insight.
inside of a honda accord hybrid.
honda accord hybrid |
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