I think I want the Hyundai Equus... (lease, coupe, SUVs)
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That is pretty poor logic if I may say so. Some people actually budget and stick to that, and some people realize that they can get a unique car with concierge service for almost a third less than a common badge car. Some people would rather save that $15k-30k and use it on vacations, new golf clubs, a boat, etc.
again, i said AFFORD
not have the money for other stuff. my initial post was about buyers who really can't afford the cars they drive whatever they are, but buy them anyway
can you drive a golf club to work? i think not. a car for most is a necessity of life and for transportation, not a luxury of any kind. if you really can't afford luxury, or can barely afford it, don't buy luxury and cry to the bank when they come get your car because you can't pay for it
but have fun on your vacation...
i knew a guy who drove a Benz and threw all his other bills under his bed. oh, but he could afford the Benz
I'd agree with your summary. When buying a new car, most folks have a budget of what they're willing to spend but yo should NEVER buy a vehicle at the very peak of your price bracket. Some will buy a vehicle and have no idea the cost to maintain it. I've also seen a person who was used to driving basic midsized vehicles such as the Ford Fusion decided they could afford a high mileage Mercedes...the equation never works. If you are paying nearly a grand a month in car payments and believe an extra $200 is going to break the bank...you really have no business looking at $60K vehicles at all.
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Originally Posted by ploopy
because if you can't actually AFFORD $15,000 more for a car, how in the hell are you going to AFFORD a $60,000 one, or it's up keep
it would be like saying "well, i can afford a payment of $1,000 a month for this luxury car, but another $250 on a Benz would be outrageous! honey, forget about that Elantra you wanted, i blew the car budget on the Equus!"
i never suggested it wasn't a smart buy if you can afford such a luxury. but if you are stretching your budget to own one, a $30,000 car might be a better choice
i am reminded of the woman who was in a tire store with her $50,000 pre owned AMG Benz. big sedan, and yelling "what do you mean $1000 for tires? i just changed them eight months ago. are you telling me i need new tires every year!"
well, you bought a $100,000+ performance / luxury sedan at half the cost. now you get to pay for it...
my logic, as awful as some people might think it is, says if you have $60,000 to spend on a car, you should have an extra $15,000 to kick around....somewhere. if you don't and have to even THINK about affordability and cost of ownership, get a less expensive car
Apparently with the Hyundai Equus, it has a 10-year power train/100,000 mile warranty and 5-year everything else... if the car breaks down, the dealer comes to you at no extra cost and takes the car away and gives you a free loaner (an equus or genesis) while its in repair... that's nice, its also nice they take a demonstration car to your house so you can see it and test drive before you buy as well as coming to you during the buying process... .. Although I would like to get rid of the iPad that comes with it, I kinda need for maintenance (which the dealer will come pick up and give a loaner as well)... talk about customer service... wow! All this plus the options that even Mercedes can't beat at price to value point...
I would think the same about the guy driving an Equus. I guess we all see it differently, which is ok. If we all agreed, this forum would be an awfully boring place!
See, I would see the exact opposite. If a guy chose to spend 60K on a Hyundai Equus instead of a smaller BMW or Mercedes, I'd conclude he doesn't care what people think of him, but just wants the most car for his money.
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Originally Posted by Drover
What is it about people needing to ascribe the least charitable motives to people who want a well-appointed car without having to pay out the ass for it? Why should they if they don't have to and don't want to?
Because if you talk to a lot of these people, they couldn't explain what's so great about their car beyond the brand. Sure BMW makes great performance cars. But a lot of people don't even drive it in a way that takes advantage of that.
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Originally Posted by iknowftbll
If the Equus was $80K worth of car, they would charge $80K for it. By paying $60K for a first-timer in this market, the Equus driver is taking a gamble that the vehicle's value will hold over time.
Exactly. You have to compensate that buyer for the added risk their taking. With the 80K Mercedes, a lot of what you're paying for is the name. If it were the exact same car but had a Chrysler emblem on it, do you think they could still charge 80K for it?
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Originally Posted by Drover
2010: The laughing has all but died down, and would probably be completely dead for the Genesis/Equus if Hyundai had spent the money to spin off a luxury brand. Those still laughing are basically guilty of badge snobbery, the elimination of which is the major point of bringing the Genesis and Equus here.
I still think they should have just spun off a new marque to make the aforementioned elimination easier, but they didn't ask me.
I think they realized the luxury market is way too crowded as it is. Suppose they had spun off a new brand and put the Genesis and Equus under it instead of Hyundai. The problem then is that the parent brand would have no cars besides the Sonata to really point to as an example of what Hyundai is capable of. So while I don't agree with Hyundai's decision either, I can see why they did it.
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Originally Posted by SpeedyAZ
I'd agree with your summary. When buying a new car, most folks have a budget of what they're willing to spend but yo should NEVER buy a vehicle at the very peak of your price bracket. Some will buy a vehicle and have no idea the cost to maintain it.
I see this quite a lot, especially as people move into the luxury tier. They think just in terms of monthly payments without considering things like higher maintenance costs, premium fuel, insurance, etc. It's kind of like what happens when someone buys their first home. Because they were only paying rent before, they only think in terms of the monthly payment forgetting things like property taxes, home maintenance, higher utility costs, etc.
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Originally Posted by Merc63
And I'm driving to work in my $7500 pre-owned BMW 740iL.
I love my big car, it wears the prestigeous and elegant rotating propeller badge. of course, the badge could be removed and I wouldn't care.
You may not care, but I'm willing to bet most BMW buyers would. A lot of those people want people to see them in a BMW. If it were the same car, but had a Chrysler emblem on it, I doubt they would've been as attracted to it.
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