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Old 12-06-2014, 07:43 AM
 
Location: Pennsylvania
275 posts, read 225,103 times
Reputation: 500

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Quote:
Originally Posted by Jim_a49 View Post
A new car is not an entitlement, If you cannot afford one, stick with used cars until you make more money.
This brings up a good point. The word AFFORD, It's subjective. To some, if they can make the monthly payment then they figure they can afford it.

Others may have sixty-thousand in cash in the bank, but feel they can't afford a new car because they're behind where they want to be in there retirement account.

It's really about individual's own priorities in life.

Quote:
If you get into your 40s and still cannot afford one, you probably made some poor decisions in life.
That's true for some. But people have different abilities too. Some have what it takes to become doctors etc., some are maxed out at flipping hamburgers.
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Old 12-06-2014, 07:45 AM
 
Location: Londonderry, NH
41,505 posts, read 49,574,957 times
Reputation: 24548
I have never had a job that paid enough to afford a new car. Now that I am retired that is even more true. However I can afford to buy cheap used cars and spend what is needed to run them another 100 to 200 K.
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Old 12-06-2014, 10:06 AM
 
12,404 posts, read 9,209,597 times
Reputation: 8868
Quote:
Originally Posted by scarabchuck View Post
I think pretty much everyone understands that. And know one buys new cars (except for certain rare models) as an investment. They are a neccessary evil that most of us need, and for some we can afford to enjoy what we drive vs just using it as a means to get from one point to another.
Another useful way of looking at it is to make the analogy between cars and other consumer products such as cookware or a wristwatch. People buying the item are buying it for its direct utility as a consumer good, not for any sort of ROI.

The same goes with cars.
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Old 12-06-2014, 10:55 AM
 
Location: Kalamalka Lake, B.C.
2,975 posts, read 3,766,455 times
Reputation: 3789
Default Trade in every three or four years, and pay it forward

Quote:
Originally Posted by Panther2004 View Post
How are people buying cars these days? Just about every car is atleast $30k and suv and minivans over $40/$50k. Is everyone financing or saving large sums of money?

The price of a quality new car with some nice options are absolutely insane.
Just about all the ladies I know and some cultural groups that never lift the hood buy new.
Then they trade in every third or fourth year, and push the financing forward. For them, it
works. Dealer interest rates are as low as 1% and if you factor in no maintenance and city
driving they get a good value going back to basically the same dealer year after year.

No, it wouldn't work for a guy like me. If I don't crack a wrench I know someone who can.
I've always paid cash except for a truck that is in business making me money. But I have to
admit that these new vehicles are pretty amazing. The machining on the engines is such
close tolerance there is no head gasket! Those are engines I'll never work on, including the
BMW magnesium engines!! Whew!

By backyard guy said recently the big boys are eliminating the back yard operator and doing
a good job of it. It's a different world.
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Old 12-06-2014, 01:22 PM
 
Location: O.C.
2,821 posts, read 2,614,743 times
Reputation: 2075
Quote:
Originally Posted by Felix C View Post
Well I knew what the OP meant and at the prices he was referring to it was not compact or sub-compact or mini-suv type of transport in the $20K range.

In fact, if you read what he refers to as his own transport and objectives, Escalade and Infiniti then you know again it is not appliance type vehicles.
When have Escalades and Infinitis ever been "affordable" cars? There are far more quality, affordable cars for sale now then there were even 10 years ago.
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Old 12-06-2014, 01:39 PM
 
Location: Miami, FL
8,088 posts, read 7,321,219 times
Reputation: 6650
Quote:
Originally Posted by mbell75 View Post
When have Escalades and Infinitis ever been "affordable" cars? There are far more quality, affordable cars for sale now then there were even 10 years ago.
True. But that is not was not the context although you can start your own thread if you want to. You can roll eyes there as well.
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Old 12-08-2014, 07:27 AM
 
9,098 posts, read 5,665,637 times
Reputation: 5267
Quote:
Originally Posted by mbell75 View Post
Huh? There are plenty of cars under $20k, let alone $30k. Chevy Cruze, Ford Fiesta, Ford Focus, Honda Civic, Hyundai Elantra, Subaru Impreza, Volkswagen Jetta, Jeep Compass, Fiat 500...all great cars under $20k. You must not be looking too hard...
Sure, if you buy the base model and what is the point in that ? Option the Cruze , Focus, Impreza, Jetta out and they are quite a bit higher.
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Old 12-08-2014, 07:34 AM
 
4,914 posts, read 5,529,090 times
Reputation: 7132
Quote:
Originally Posted by scarabchuck View Post
Sure, if you buy the base model and what is the point in that ? Option the Cruze , Focus, Impreza, Jetta out and they are quite a bit higher.
Most people who are just looking for basic reliable transportation don't really care about options like a sunroof, leather, navigation, etc..

Last edited by louie0406; 12-08-2014 at 07:52 AM..
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Old 12-08-2014, 08:13 AM
 
9,098 posts, read 5,665,637 times
Reputation: 5267
Quote:
Originally Posted by deevel79 View Post
Most people who are just looking for basic reliable transportation don't really care about options like a sunroof, leather, navigation, etc..
Understood, but many talk about the resale value. Isn't that sort of a catch 22 ? A pre owned base model Focus will be harder to sell than one optioned out.
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Old 12-08-2014, 08:15 AM
 
4,429 posts, read 3,111,384 times
Reputation: 5262
Quote:
Originally Posted by scarabchuck View Post
Understood, but many talk about the resale value. Isn't that sort of a catch 22 ? A pre owned base model Focus will be harder to sell than one optioned out.
Well if you are frugal and view a car as just a transporation device than you don't worry about resale value or features.

Buy once new and drive till wheels fall off.
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