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S t r e t c h i n g To Buy More Than One Can Afford

2

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  • steverstever YooperlandPosts: 40,171
    edited November 2011
    My Last Car Payment was... in 1982.

    Oddly enough, I wouldn't mind having one so much these days. Maybe because there's no mortgage to worry about right now.

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  • lemkolemko Posts: 15,148
    edited November 2011
    I feel the same way too. I think you don't feel bad about spending large sums of money on a car when you're younger because you feel you still have a lot of time to make up for it. When you get into your 40s, you start to realize you don't have as much time. Getting married and having children accelerates this feeling.
  • berriberri Posts: 4,159
    I think as you get older you start to realize that experiences trump possesions. There aren't those many cars out there that will give you experiences like in the old days. But don't worry Fintail, when you move your [non-permissible content removed] down to Georgia all you''re gonna need is a beat up redneck pickup truck anyway - just kidding!
  • andre1969andre1969 Posts: 21,906
    I think as you get older you start to realize that experiences trump possesions. There aren't those many cars out there that will give you experiences like in the old days.

    that could very well be. In my case, I've never felt the need to buy an expensive, flashy new car, but there are lots of old cars that I really love. But, I find that the older I get, I'm more and more content to look at them at car shows, rather than own them. It's kinda like being a grandparent I guess...you enjoy the grandkids for some good times, but then send them back to their parents who have to deal with all their problems!

    Plus, I think I'm really starting to get into a wanna-be early retiree mindset, and a dollar saved is actually worth more than a dollar earned, because you don't pay tax, social security, and medicare on the dollar saved!
  • steverstever YooperlandPosts: 40,171
    edited November 2011
    You don't own stuff, it owns you.

    That's especially true with "classic" cars I think.

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  • andre1969andre1969 Posts: 21,906
    You don't own stuff, it owns you.

    That's especially true with "classic" cars I think.


    Back over the summer, when my '79 5th Ave blew its power steering pump, after I already put a lot of money into it, I had thought about retiring both it and my '79 New Yorker base model. I figured that even if I junked the damn things, they'd save me a lot of money in the long run, in insurance, registration, repairs/maintenance, etc.

    But, a couple weeks ago, I paid a mechanic on the side to fix the power steering pump on his own time, in my garage, and after it was fixed, I gotta admit, it felt really good to slip behind the wheel of that beast again, and suddenly any desire to get rid of it, or the other NYer, totally slipped my mind.

    But, who knows? As I get older, I might tire of them, eventually. I've decided, too, that my next old car is going to be a '61-62 Cadillac. That is, unless something else happens to catch my eye! :shades:
  • fintailfintail Posts: 33,580
    Houses too - mortgage, taxes, neighbors, maintenance...I can have more fun in a car :shades:

    The way I see it now, I can have a car payment, or I can go on a couple trips per year, indulge myself in the old toy cars I like, and still have something left over.
  • fintailfintail Posts: 33,580
    Having two nice enough paid for cars isn't a bad thing. I look at the frightful depreciation on just about anything, and I can't justify it.

    From what I can see, if I moved to GA, I would need either a jacked up pickup, an Excursion sized SUV for off roading in the vinyl siding orchard where I'd live, or an old domestic boat on 26" wheels :shades:
  • berriberri Posts: 4,159
    ...and don't forget the rifle or shotgun to blow away those traffic camera's and expressway red/green ramp control lights.
  • kernickkernick Posts: 4,072
    I'm in my early 50's and really don't have any other expenses then the basic utilities, food, gas, and insurance ocntributions. I also contribute around 20% to my 401K. I help my stepsons and wife a little too.

    My theory these days is my auto budget whether for a primary car or a primary and "fun" vehicle is that - I pay cash, and any extra $ to keep it on the road does not affect my lifestyle. That means the car does not affect if I go out to eat ... we do use coupons, wait for sales, and redeem all sorts of promotions. So there is no profligate spending.

    But like I said - if it's even close to affecting my lifestyle, I don't buy it. So I've been putting off buying a "fun" 3rd vehicle for the family, and instead "invest" the tax and insurance savings in an extra cruise or vacation each year. I satisfy my car-art desire by looking at glossy photos and car shows. And I waxed my car on Sun. which I hadn't done for months, and I almost got that new car feel. :)
  • I guess it's human nature to want for something more than what he/she can manage to sustain.
  • andysdandysd Posts: 87
    edited November 2011
    I love that story. This is the only car forum thread I've seen where contributors play nice, so I had to join in. A couple of times I tried to add what I thought was an objective comment on other forums, only to be attacked tangentially.

    I do know one individual who drives prestigious cars and isn't a phony. He's a movie actor who must receive a pretty good monthly check from the Actors Guild or some such. At 85, a year younger than I am, he still acts in movies sometimes. He's American, born in Mexico, and pretty well known in Latin America. Currently he has a red F430 he bought new. He also wanted an open car so he bought a '95 Ferrari cab, but I don't know the model, plus a new VW wagon. He drives with gloves and a Ferrari cap, still races a newish French racing sailboat. Since I've known him (he lives across the street), he's bought and sold a new yellow Ferrari Marinello, a Mercedes S, and two new Boxster S's.

    Even if I could, I wouldn't drive an expensive car during a time when 46 million Americans live below the poverty line.

    After reading of the Honda Fit's surprising performance in Car & Driver's emergency lane change test, I bought a red 2011 Fit Sport 5mt, put on some 17" Kosei Racing wheels with 215/45 Kumho SPT's that were sitting in my garage from an '04 Civic, and ride with his Ferraris on our East County San Diego twisty roads. I'll leave it you to guess which car is faster.

    This was just some meandering no one will read.
  • nvbankernvbanker Posts: 7,285
    edited November 2011
    Amen, Fintail: I love cars. I have always loved cars. I love cars more than money. Therefore, I treat myself to nice cars. Not over the top supercars, just nice ones. Like my Lexus LS460. I don't consider that an extravagent car, when lots of folks spend much more than what it cost me for their tricked out 4 wheel drive F-350 Crew Cab, Powerstroke Diesel, Lariat, Amarillo edition truck. And they're everywhere in the west here. So I don't feel too badly. Doing so has never caused me to give up anything necessary, or even some things optional, so again, I don't feel too badly about it. My wife does not care what she drives, will only drive Fords, and so has had Explorers since 1994. In fact, she refuses to drive a luxury car of any sort, even a Lincoln. So I don't drive more than I can afford, but some would say I have wasted a fortune since 1990, driving unnecessary luxury cars. But, when I'm lying in a bed at the hospital dying, I'm sure I wouldn't be saying, "gee, I'm sure glad I drove a Focus all these years instead of a Lexus....it was sure worth it:! Funny, nobody ever criticizes a $72,000 pickup truck.... ;)
  • fintailfintail Posts: 33,580
    It's not hard to justify a nice car when one examines how others blow money. For example, I brown bag my lunch every day. I know many who spend $10+ a day on lunch. That alone is a lot more than it costs me to care for both of my cars. Done deal :shades:

    And especially if you buy gently used, you can get a nice highline car for the price of a more "normal" car or some dumb truck like you mention. Probably for most who post here, driving is part of the "experience" of life, and is worth the price of admission. You're lucky to have such a reasonable wife too ;)
  • nvbankernvbanker Posts: 7,285
    I do buy my luxury cars used, 1 or 2 years, and save tens of thousands that way, making my luxury purchases not much more than a new Explorer Limited. It helps justify my lust. I have a good friend with far more money and net worth than I who drives an 02 F-150 with 140,000 miles on it, and his wife has a 99 Camry with similar miles, and that's his obsession. Saving money. Probably why he's richer than I am. He thinks I'm crazy, and I think he's crazy, and we argue about it. Whatever floats your boat though, you should do. That's how I feel. A Lexus floats mine.
  • lemkolemko Posts: 15,148
    I've seen guys like that before. They make their widows very happy! I just hope he doesn't have any ne'er-do-well kids who will blow the fortune he had amassed.
  • fezofezo Posts: 9,328
    Sam Walton was the saving type. Drove an old pickup til the day he died.

    I don't imagine his kids are following that example.
  • lemkolemko Posts: 15,148
    I think they have Sam Walton's old red and white Ford F-150 on display at Wal~Mart headquarters in Bentonville, AK.

    His kids most certainly aren't following his example - especially his daughter Alice who is a hostile drunk who has been arrested for DUI umpteen times. That's the trouble. The man who worked hard and built an empire is gone only to have his spoiled entitled children squander it and stain his legacy. If Sam came back saw what became of Wal~Mart and his family, he would never stop throwing up.
  • robr2robr2 BostonPosts: 7,766
    ...especially his daughter Alice who is a hostile drunk who has been arrested for DUI umpteen times.

    Would twice be umpteen? IMHO, once is too much.

    But it looks like she's at least done something with her money in terms of philantropy. She's quite different than some of today's young heiresses whose life revolves around shopping and celebrity.

    BTW, Sam Walton stated in his autobioraphy that of his children Alice was the most like him but even more volatile than he.
  • fintailfintail Posts: 33,580
    But is she doing it for tax benefits or real cares?

    Some of us remember "Sam's American Choice".
  • fezofezo Posts: 9,328
    Absolutely! I remember them featuring American made products. This was back in the day when if there were three people waiting to check out they'd open another register. Heck, they even kept the store clean.

    I miss old Sam.
  • fintailfintail Posts: 33,580
    My region didn't get WMs until the early 90s, when those policies and products still existed. Wally World didn't seem so bad then (and I don't think it is a horrible evil now), but it certainly was more benevolent. Then the changes hit.
  • nvbankernvbanker Posts: 7,285
    And, that's exactly what I have. 2 very foolish kids. I'm skipping them in the trust, (assuming there is anything left but my car), and going to the grandkids...hoping for better. :sick:
  • robr2robr2 BostonPosts: 7,766
    Well she's a board member of the Walton Foundation which was founded by her parents. So they got the tax benefit of the bequest.

    According to her wiki, she worked in finance for many years before getting involved in raising horses and opening an art museum.

    Other than the DUI's, she seem to be a pretty dull person.
  • fintailfintail Posts: 33,580
    I am sure her name and family money got her none of that. She knows hard work, and none of the "philanthropy" has other benefits.

    She also apparently ran someone down, with no charges being filed, and has never actually served any time for her transgressions. I am sure someone of low socio-economic status would be treated just the same. What a great legacy, Sam is very proud no doubt. And don't raise her taxes! It'll trickle down, just wait, any day now, it's coming.
  • lemkolemko Posts: 15,148
    Here's a mugshot of the witch herself:

    image
  • nvbankernvbanker Posts: 7,285
    How did we get off on this tangent? The Walton fortune trickled down through millions of jobs, but Sam himself didn't like any cars better than his 79 F-150, so he didn't prop up the economy at all by buying new cars. Neither does Warren Buffett, very often anyway. Nor does Ross Perot. Bill Gates will occasionally buy a new Lexus at least. People with scads of money often don't care about those things, those who do buy supercars or Rolls' often. Well, I don't like cars THAT much, nor can I afford one. I stretch a bit, but within reason.

    Around here, I find lots and lots of people who should not be able to afford expensive SUVs or luxury cars, driving them. One wonders how they do it. Clearly, they're not the folks who can really afford them. Escalades are very popular with a very young segment of the population. Mercedes with another, and so on. Unless they are pharmaceutical representatives, I don't see how they can afford them, even on a stretch.
  • nvbankernvbanker Posts: 7,285
    Impressive..... :shades:
  • lemkolemko Posts: 15,148
    edited November 2011
    Me, I LOVE cars!!! Still, even if I had a Bill Gates-like fortune, I wouldn't drive anything more expensive than my Cadillac DTS. I have no desire to own anything as extravagant as a finicky exotic. Most of the time I drive my 2005 Mercury Grand Marquis LS which I affectionately call "my hooptie."
  • andre1969andre1969 Posts: 21,906
    aaagggghhh...change it, Butthead!!
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