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If your young, spend the money now when you can really enjoy it. Nothing worse than an old guy driving a 500HP car down the highway at a roaring 45 MPH.
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Don't under estimate that "Old Guy" driving the 500HP car, LOL. I'm retiring to the Boise Area next year, my main disappointment with the Boise Area is, no "Dirt Race Track" within 100 Miles, so this year is my last year driving Dirt Track Stock cars, after 46 years racing stock cars, 42 of them on dirt tracks. My last three seasons found me in 2nd, 5th and 4th in the run for the championship in a very competitive division, at triple the age of many of the young drivers. My wife is happy about the end of my racing, she always worries a lot, though I have never been injured in all my years of racing, yet she has broken her leg trying to keep her friends blind small dog from falling into our pool.[/b]
Also consider used....there are some excellent deals on very lightly used luxury vehicles. Most were very well cared for and have all maintenance records. The depreciation is steep and you can get a lot of car.
You are so right in that regard, I have always enjoyed driving performance vehicles that handled well, but hate the idea of loosing 40% to 60% of the price of a new vehicle in the first three years, so I have never purchased a vehicle less that three years old in my life, including the One Ton Dualy pickups I use in my business, and keep them for at least 10 years. Because of careful evaluation before purchase, I've never been stuck with a "Lemon", and saved a LOT of money in the process.
OK, smart-a**es : "Florida Suncoast" is a region on the west-central side of Florida around Tampa-St. Pete down to Sarasota and consists of 20 miles of Gulf of Mexico beaches (hence the name). The coastline above that is called the "Nature Coast"; all the coastlines have some sort of designations that began primarily as marketing names but are now used by the locals. If you lived down here, you'd not be so surprised about it because they say it in the weather forecast all the time. There is no "Mooncoast" BUT -- the Atlantic coastal area around Cape Canaveral is called (what else) "Space Coast". So there.
I've been a car gal all my life, from the time I was a little girl with model cars, turned my dollhouse into a garage for my cars, could name every car on the road as soon as I could speak, etc. When I started making decent money, I had a string of luxury leases -- your Beemers, Cadillacs, Infinitis, etc. Not the most expensive models but certainly not the cheapest. Now I'm retired. I have an Acura lease with a year to go. I know financially I SHOULD get something cheap like a Corolla or Civic. But having driven my Mom's Corolla for a couple years after she died, I know I won't be happy. Yeah, it's probably some deep-seated insecurity on my part....or is it? To me, a car is not just something to get you from one place to another. I am super into cars and way into the details like the size of the wheels, fog lights, etc. Considering whether to blow the budget by getting something I really can't afford but will put a smile on my face every time I get in it. Just wondering if others are like this about their cars.
When you retire, you should concentrate on your "wants" as much as your needs. You worked for it. Don't leave money for others to spend for you. Let them get it the same way you did. Work for it.
Considering whether to blow the budget by getting something I really can't afford but will put a smile on my face every time I get in it. Just wondering if others are like this about their cars.
Every time I get in my 24 year old Jeep it puts a smile on my face. Cost me 1500 bucks.
I am a Cadillac guy, had them all my life and it started with a 59 DeVille many years ago. I just like the comfort and the power, plus all the little features that make driving a pleasure.
Intermingled in there, over the past 50 years, I have also owed everything from VW Beetles, to GTO's, to Mustangs, Hondas, etc, etc, but for a comfortable daily driver I just lean toward Caddys. Has nothing to do with image or prestige, more about the quality and overall driving experience.
My Audi A6 was recently hit by a fellow pulling out of his driveway. While the car is with the panel-beaters, I have a loaner car - a Suzuki Swift.
Compared with the Audi, it feels crude and cheap: the speedometer is crude with gradient markings too small, the mirrors aren't of adequate size, acceleration/transmission are clearly budget, the suspension is ghastly, and I wouldn't want to use it on a moderate-to-steep climb (quite common in the countryside outside of my city). On the other hand, I was/am so focused on adjusting my driving to the crappy mirrors and low power that I can't be bothered with the lack of bells and whistles!
I've been a car gal all my life, from the time I was a little girl with model cars, turned my dollhouse into a garage for my cars, could name every car on the road as soon as I could speak, etc. When I started making decent money, I had a string of luxury leases -- your Beemers, Cadillacs, Infinitis, etc. Not the most expensive models but certainly not the cheapest. Now I'm retired. I have an Acura lease with a year to go. I know financially I SHOULD get something cheap like a Corolla or Civic. But having driven my Mom's Corolla for a couple years after she died, I know I won't be happy. Yeah, it's probably some deep-seated insecurity on my part....or is it? To me, a car is not just something to get you from one place to another. I am super into cars and way into the details like the size of the wheels, fog lights, etc. Considering whether to blow the budget by getting something I really can't afford but will put a smile on my face every time I get in it. Just wondering if others are like this about their cars.
Not sure all the manufacturers you consider luxury, but there are some quality, reliable high end cars that will last forever and be semi-economical in the long run. Lexus is one of them, like the med. sized sedan. It's beautiful, very comfy, nice sound system, high quality, reliable, and the service on them is wonderful.
You can actually get a used one with not much mileage (certified warranty by the dealer and/or original warranty still valid), for a lot less. Those cars are made to last, so a few miles on them is no problem.
I'm not into cars. I'm a totally practical, frugal person. I require reliability as the #1 factor, then good gas mileage, then comfortable and good seating position, then cute or pretty, good sound system, decent price that I can afford. Luxury probably wouldn't work for me, anyway, since I won't get leather seats, and most of them have leather. (Although Lexus has a small hybrid hatchback with faux leather seats...it's beautiful.)
I have a thing about decorating a house pretty, though. I'm particular about hues and tones and colors and paintings and such. I'm even picky about shades of white! Every one has his/her thing, I guess.
I personally would not purchase a new luxury vehicle. If you are planning on purchasing I would consider one 3-4 years old before purchasing new. I've had my eye on a Mercedes S550 for awhile now. A new S550 retails for around $110k. I can purchase a nice low mileage used 2013 S550 for $50-$55k depending on mileage and options. That is half of what they retail for new.
I also like the looks of the previous body style Mercedes E-class with the rounded headlights. I purchased one last year for $8500. It was a 2006 E500 with 70k miles. It was loaded with everything and very clean. No issues or stories with it. Eventually sold it and made a little profit. You can find some great deals on older luxury vehicles because a lot of people are scared of them due to maintenance costs. Do your research, take it to a mechanic and have it checked out first. There are some deals to be had. If the seller opposes you taking it to a mechanic to have it looked over then you probably don't want it. The sellers that know there are no issues typically won't have a problem with it.
Most luxury vehicles like Mercedes and BMW have horrible resale value. A 50% depreciation in 3 years would prevent me from ever purchasing one brand new.
Last edited by LloydinMaine; 09-30-2015 at 05:37 PM..
I can think of a dozen things that would put a smile on my face quicker than a luxury vehicle. Particularly if I had to go into debt to own one. I think of cars as a means of transportation and I like them best when they are safe, economical to operate, and clean.
But, hey, if someone wants to put themselves into debt for luxuries designed to impress, who am I to judge? That's what being a $30,000 millionaire is all about. (Google it if you don't know.)
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: "Florida Suncoast" is a region on the west-central side of Florida around Tampa-St. Pete down to Sarasota and consists of 20 miles of Gulf of Mexico beaches (hence the name). The coastline above that is called the "Nature Coast"; all the coastlines have some sort of designations that began primarily as marketing names but are now used by the locals. If you lived down here, you'd not be so surprised about it because they say it in the weather forecast all the time. There is no "Mooncoast" BUT -- the Atlantic coastal area around Cape Canaveral is called (what else) "Space Coast". So there.
