>>1031727 >For example, buying a $20,000 car rather than investing $15,000 instead and getting a much cheaper car.
I don't spend my money retardedly like that.
It makes no sense not to just drop that $15k into an Index Fund so that it can earn you a reasonable amount just drive a cheaper car that gets you where you need to go anyways.
The difference between a $5k and $20k car in terms of practicality and use is nearly non-existent. If it's a reliable model, has a reasonable amount of miles on it and fulfills the requirements I have for transportation than there is no point of spending more.
Trying to "impress gurls and other people" is a race you cannot win with a $20k car. You will need much more money and it's not even desirable to achieve that.
>>1031776 >Bullshit. a 5k car is likely to have done 100,000 miles on the clock already and will be lucky to do another 100,000
I buy $1-2k cars with 100k miles, which is actually a better deal if you're Jewish than a $5k car with maybe 60-80k miles if you're lucky.
>Will be lucky to do another 100,000
And how is that bad? For the price of that $20k car I can buy 4 $5k cars to replace themselves when they go to shit. Are you meaning to tell me 4 $5k cars will last less than 1 $20k car? This is simply not true if you buy one of the recommended reliable models of car which are reported to have nearly no issues and be highly dependable.
Because there's a balance to be struck between living the life you want, and saving to build wealth.
Some people are happy saving 95% of their income while living in the basement of the crack house and driving a rusted out 1989 caprice classic. Some people are happy spending 105% of their income and having nothing set aside for retirement. Most people are somewhere on the sliding scale in the middle.
Everyone has to find their own "sweet spot", and just because mine is different than yours doesn't make either of us wrong.
I save about 25% of my income for retirement, another 8-10% in brokerage accounts. I buy nice stuff with what's left.
I don't want to live in a cardboard box with no car or tv so I can retire at 40...and hang out all day in my cardboard box with no TV.
>>1031727 I spent $12k cash last year on a Nissan Murano for my wife. That was the single largest purchase I've made. I wanted something safer for her than the civic she was driving and didn't want to finance which would've cost me an additional $2600+. I'm driving an 07 Silverado I bought for $8k that I've put money into for engine and tranny work but it was a $55k truck new. I can't justify owning a new vehicle or throwing money away on financing.
>>1031749 Depends on how you will use the car, and your current circumstances.
If you are using the vehicle for commercial, income producing purposes - then yes, it may be worth it. The kind of transaction, whether purchasing outright or going through a lease (and the type of lease involved) will all be important factors.
>>1031908 As somebody who lived on a pot farm for a year, drove a painted bus across the us and back and backpacked thousands of miles with no transportation but my legs and thumb, this is bullshit. You can have all the fun you want with very little money expendaure at all. The key is to have fun experiences that cost very little. For instance, the backpacking trip only cost about 150 plus 500 for the supplies for the whole summer. I would have spent more in rent that summer, even under the most optimistic of situations. Experiences can be had for free that are much more valuable than the enjoyment any expensive toy could bring. Same goes for nickel and dime you to death experiences like daily Starbucks lattes.
When given the choice between 3 months of adventure and a latte every day for the summer, which is really going to bring me long term happiness? I can tell you about the time I met a complete stranger and we ended up night hiking to an awesome vista in big sur. Do you think I would be looking back as fondly on how I had a single latte in a cafe during that summer?
>>1031981 I completely agree with you m8. I was not bashing living frugally, nor do I believe that expensive shiny things will make you happy. All I'm saying is don't be an extreme penny pincher. The person I am thinking of wouldn't even have gone on your trip because they'd rather live in some cardboard box to work and invest 90% of their income.
>>1031970 Honda civic has cheap parts and is lego-like in maintenance. 90s ones are cheap but if you live in a bad neighborhood chances are it will get stolen. Toyota Corolla, toyota paseo, toyota echo, Nissan sentra.... the list of cars you will find on Craigslist that are the longest running survivors for cars besides a truck. Jeep Cherokee with 4.0 or ford straight 6 truck has engines that last 400,000+ but yes the rest of it will need to be repaired time to time which is significantly less money than engine work.
>>1031953 Nissan murano: Check for leaky cam sensors, and messed up lower ball joints. Sorry to say the murano is a middle age wife trap.. worst built 3.5 engine and suspension is crap after a few thousand miles.
> has 2006 Honda with 150k miles > paid $2,300 when had 130k miles > motor making sounds > take to a macaroni > macaroni says timing chain > macaroni says can fix it > macaroni blows the motor > macaroni wont cover costs > macaroni is sears auto center > end up dropping $1,600 for new motor > car's paint is chipping away > car's odometer went out > slowly turning into a shit stain
Now I'm a proud owner of a 2013 Toyota Camry with a backup camera, 23,000 miles, push to start, and it smells nice for $18,000. It has a nice paint job too and I don't have to worry about anything besides a damn oil change from another macaroni.
>>1031727 A car can be a great buy in a case your current ride is unsafe, or just shitty to drive. If you drive long rides, for example your job required, get the car.
Secondly, driving a car can be a lot of fun. So buying a 20-25k porsche isn't for a show. It's fun as fuck to cruise a Cayman backroads at summer nights.
15k for investing is so little just forget it if it anyhow lowers your quality of life. You'll get the 9 percent or whatever annually for that. And that's ofcourse a huge generalization. That's fucking nothing. It's a good chance you lose 50 of that for the next 5 years or whatever. So either invest big, invest in case you've got already the fun stuff or daily meets, or you really know what you are doing so you can actually make bigger profits. For most people this is completely out of question anyways.
If you're 20-30yo you've got something like 30 years to be healthy and do stuff, that's it.
A car is a money pit. Other than allowing you to get to work and earn, it will only ever cost you money.
Having said that, driving is fun and many people are passionate about cars.
So the question is, what would you rather spend that 15k on?
You could get a newer, quicker car. You could buy some future financial security. Or you could spend money on whatever it is that makes you happiest. Whores and cocaine maybe.
Personally, i go for value. So i buy ten year old "premium" cars. When they get too expensive to maintain, i sell and replace. Luxury at low cost. The money i save gets spent on education and free time.
Look up secret entourage car buying tricks. You can get a car and pay like 100 bucks a month if you finance it the right way and sell it a year later with like 2 years warranty on it you can still sell it for what you paid for it.
You don't need a car to impress girls. I know dudes with no car and not even their own place who slam more chicks every month than I ever have in my life.
ultimate driving experience >buying one to impress girls
Sure there are plenty of jagmos who go and lease a brand new base model 3 series only to drive it like a Prius and try to pick up Sally McSlut down at the club, but that's not why any sensible person buys a bimmer.
>>1031727 >For example, buying a $20,000 car rather than investing $15,000 instead and getting a much cheaper car. In that example, I wouldn't be buying a $20k car. My car cost about $10k.
But sometimes you just have to remind yourself that you won't live forever and your money won't go with you into the next world. Like I bought myself a $100 hockey stick and some hockey equipment because I want to start playing rec hockey. Could I have put that money into the stock market and made some marginal returns? Sure. But is playing rec hockey going to make me happier than some stocks? Yes.
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