Car Advice (poll fixed)

[uhurit]

Originally Posted by Jodum5

Why do people consider cars as investments? They are not!

Could never understand how people buy a $250 pair of jeans or a $500 pair of shoes, yet keep driving a ************* clunker. The car one drives is an investment in your own image, just like nice clothes. Or rather, an extension of one's image. So, choose accordingly;

 

[Mauby]

My friend loves to refer to this phenomenon as The $30,000 millionaire. The 30K millonaire will roll up to the club in his smooth BMW & live with his parents until 40 so he can pay it off.

 

[chas]

Originally Posted by uhurit

Could never understand how people buy a $250 pair of jeans or a $500 pair of shoes, yet keep driving a ************* clunker. The car one drives is an investment in your own image, just like nice clothes. Or rather, an extension of one's image. So, choose accordingly;

I respectfully disagree. It would be different if I didn't live in NYC but I drive a crappy car. I only use it two days a week but more often than not the clothes I am wearing are worth more than my car. If I know I will be driving a client (golfing or lunch) then I rent a car.

I have never bought a car I couldn't write a check for and while I like nice cars I do not associate my image with my car. Even though I know that many do.

$30K - $50K is a huge amount of money for a depreciating asset.