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Old 03-11-2008, 02:35 PM
 
Location: 77059
7,663 posts, read 17,116,899 times
Reputation: 3679
Here's some theory for you to ponder over:

62 years = 744 months.

If you throw $400/mo into an investment account that returns 9% annually, every month for 62 years, you'll have $13.9 million.

I think that's an even better life.

Everyone in my family lives into their 90s... chances are I'll have some time left after age 78 to enjoy & give away that money.
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Old 03-11-2008, 02:45 PM
 
Location: Visitation between Wal-Mart & Home Depot
8,310 posts, read 19,936,086 times
Reputation: 6605
I wish I still had the '85 Ford Bronco I drove in high school. Nice, bone-jarring solid front axle suspension with some seriously heavy springs, no muffler, 8 mpg and a pathetically underperforming a/c. It didn't look like much, but at least there was no warranty on anything that broke. By the way, full-insurance coverage: overrated. Liability only is the way to go. That truck was a real masterpiece of efficiency and creature comfort. Ten years of wear had taken its toll on the synthetic velvet seats, but who really gives a **** about the interior anyway? I miss it. $100 in fuel for a drive to Galveston and back wouldn't really be that prohibitive. Screw the hybrids, I've had it up to here with catalytic conversion. I want my Bronco back.
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Old 03-11-2008, 02:58 PM
 
Location: Houston (Memorial) and Western NC
8,801 posts, read 14,384,180 times
Reputation: 3935
Quote:
Originally Posted by harrygrath View Post
True,euro cars r flashy,trendy,sexy

As for the depreciation,Kelley Blue Book is the Bible of...truth.

In 3 years,they all more or less lose half their value.

Personally,I believe the American way is the poor to change car every 3 years & the rich every year...

That's the lifestyle for the land of plenty.
Well, that's not me. I pay cash for a good car and drive it for 8-10 years, give it away. Then repeat.
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Old 03-11-2008, 03:04 PM
 
151 posts, read 1,273 times
Reputation: 12
...'85 Bronco,
...8-10 years...

Guys,come on,this is America,

new cars r so affordable & then,
who can stand even the finest car for...10 years...

As for saving...alas,what is there to enjoy at age 78+....?
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Old 03-11-2008, 03:12 PM
 
Location: Visitation between Wal-Mart & Home Depot
8,310 posts, read 19,936,086 times
Reputation: 6605
Quote:
Originally Posted by harrygrath View Post
...'85 Bronco,
...8-10 years...

Guys,come on,this is America,

new cars r so affordable & then,
who can stand even the finest car for...10 years...

As for saving...alas,what is there to enjoy at age 78+....?
You lose money on a car no matter what. You can not make the asset appreciate. To me, the only way to get your money's worth is to squeeze every last inch of mileage out of the vehicle before you absolutely must put it out of its misery and then go buy a 2 year old model with about 30K on the odometer.

Call me crazy, but I would rather have money than an import.
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Old 03-11-2008, 03:13 PM
 
959 posts, read 2,302,294 times
Reputation: 608
Quote:
Originally Posted by harrygrath View Post
Too many cars,so little time.

With average life expectancy ,say 78 y,an American will be a driver for 78-16 = 62 years.

Now,if u change car every 3 years,then u get ...21 cars.

That is a very good life...
I hadn't really thought about it, but that is about right. We get a new car probably every 3 years, so our oldest car is never more than 6 years old when we trade it. I have owned 8 cars and I'm 34.

Frankly, I am impressed with people that can drive their cars longer. I spend too much time drooling over the latest models. Plus, the big city is tough on cars, and I grow tired of the rattles and squeaks the dealer can't fix.
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Old 03-11-2008, 03:16 PM
 
Location: 77059
7,663 posts, read 17,116,899 times
Reputation: 3679
Quote:
Originally Posted by harrygrath View Post

As for saving...alas,what is there to enjoy at age 78+....?

There are a lot of things. People are living longer. I can think of 2 things if you can enjoy if you manage your money wisely.

Your dream house/property, not something you have to settle for. AND
Your family's financial well being.

Cars can easily last 8-10 years if you take care of them.

For many people, a car is just a tool to get them around, and is something they'd probably rather not deal with.
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Old 03-11-2008, 03:17 PM
 
Location: Visitation between Wal-Mart & Home Depot
8,310 posts, read 19,936,086 times
Reputation: 6605
Quote:
Originally Posted by harrygrath View Post
...'85 Bronco,
...8-10 years...

Guys,come on,this is America,

new cars r so affordable & then,
who can stand even the finest car for...10 years...

As for saving...alas,what is there to enjoy at age 78+....?
78+ and broke or 78+ with 13.9 million in the bank... Let me think about that. Besides, people who live life like there is no tomorrow and say stuff like "I may not live to be 30" wind up blowing out 110 candles.
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Old 03-11-2008, 03:23 PM
 
959 posts, read 2,302,294 times
Reputation: 608
Quote:
Originally Posted by tstone View Post
Speaking frankly as someone who used to run a shop for a few years...

Euro-mania is mostly about displaying a certain image. From what I saw, American cars were more reliable. The vast majority of folks with new models did not maintain them very well. The few that did spent all kinds of money to get it done properly.

I always hear the "they don't depreciate as badly as American cars'' line the dealer sold them, but think about this... Which was the bigger loss, the BMW that depreciated from $40k to $15k or the Dodge that depreciated from $20k to $5k?

Also, US & Japanese cars don't need a near 4-digit brake job, unique sized tires, nor does it need struts every 2 years. Now that's crazy, unless you drive 60-70k miles/year.

However I will say this, when those Euro cars are new they have a certain, great feel to them that's easy to fall in love with. Esp a new E-class AMG -- drool!!!!
So true. I haven't had a domestic car since my 92 Bronco (called it the "OJ-mobile" since it looked like OJ Simpson's famous Bronco), and it was super cheap to maintain. My old Hondas, from Accord to S2000 to TL, were also pretty inexpensive, and very reliable. Since then, the Passat, A4, and soon-to-have Volvo are harder to justify from a cost standpoint (especially the VW, which costs the same as an Accord, but requires much more expensive maintenance and needs premium fuel).

Human beings pride themselves on being rational, but cars strike irrational emotions in Americans, and so many of us make decisions that don't make a lot of sense in the grand scheme of things. Yes, I could save $15k and get a Saturn Vue hybrid that is better for the environment and, in absolute terms, doesn't take a depreciation nose dive when it moves off the dealer lot. But there is something about the sound of the engine, the seatbelt chime, the exhaust note, the quirky stereo controls, etc., that I can't get past. However, I'm at least sort of rational in that I buy them when they are a year old, and so someone else took the depreciation hit already. OK, at least it is sort of rational, LOL.
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Old 03-11-2008, 03:43 PM
 
151 posts, read 1,273 times
Reputation: 12
For cars & for women,the more logic applies,the better...



P.S : ...After age 30...
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