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I once bought a used 1989 Hyundai Excel from a friend's wife, which was a base model first-year car one step above a Yugo. Having to spend money causes me gnashing of teeth.
I don't like spending money on cars, I'd rather spend money on airline tickets. I like small fun simple cars so now I'm driving a paid off 2007 Toyota Yaris that I bought new. I love that little car and I'll keep it until it dies. I think I want a Jeep Wrangler next. My husband drives a paid off 2005 Ford pick up. If we are going on a long road trip, we'll rent a car or SUV, but for daily use, our older vehicles are fine.
I'll probably be upgrading to a 'better" car when I sell my current one, but not because I want to impress people or want a luxurious ride. As someone who's a bit spatially-challenged, I want blind spot/cross traffic sensors and sensors to supplement the rear-view camera system and which will brake automatically if the car's bumper gets too close to a large object. I won't pay for status, but I will pay for genuinely useful safety improvements.
What exactly is the reason? I am honestly curious.
Dunno what his/her reasons are but I totally agree with the best cars are paid off cars and rather pay myself than the bank.
Loans = debt
Loans or debt taking often means you cannot pay for the car out front.. = you really cannot afford the car.
Read similar idea somewhere from blog on cars.
Just like a friend asking me why I suggested he pay off his mortgage when he received his inheritance instead of waiting for the next stock crash...
For his $200k loan, he would have made almost $80k plus at least back in amortization interests plus save the time (instant wealth) plus free up his future income for investment and wait time (time is precious) for the next stock market futures investments if he wants.
Any interest made off you, if money to the bank plus your precious time given away to the bank.
As for the quality of BMW's... I can only compare them to domestics and average imports.... Most of my driving life has been Dodge, Pontiac, Hyundai & Subaru. My dad always drove Ford or GM trucks and my mom mostly got Buicks... now Chevy.
I've never driven an Audi or Mercedes so I can't say whether that entire class is better than the Chevys and Toyotas of the world. I have driven Volvo and it was considerably nicer than Toyota/Honda, but not quite as nice as BMW. I've never been impressed with Toyota... I just never see a Toyota and think "I want to drive that."
There is a difference... just more comfort and enjoyable driving dynamics. I would not go into debt for it - no car is worth that. However, if I can save the money for a BMW I'm going to do it. Probably easier to get a slightly used one.
I had never driven a BMW before. Think about everything that you feel when driving a car and "upgrade" it. That's BMW.
BMW engines are more powerful yet smoother & quieter & more efficient. You can accelerate past a v-6 midrange sedan in a BMW 2.0 4 cylinder, while using less gas. The interior is higher quality, more comfortable, quieter. The ride more enjoyable. The controls - steering, braking, acceleration, handling - all superior.
I had a somewhat similar experience when my wife tested cars - Honda, Toyota, Ford, Subaru, Volvo. There was a clear difference in driving impressions with the Volvo compared to the others, although she went with the Subaru in the end which offered good bang for the buck.
The German luxury sedans are the standards against which all other sedans are judged. After driving one I see why. I would probably not shell out the $$$ for a brand new one. But I will be on the market for a 1-3 year low mileage used one when I go on the car market again.
If you've only driven a Toyota, you've only driven the Costco of cars. Good value, but it doesn't make you feel much. I didn't think it would be that different either, having mostly driven low to mid-range American or Korean cars. But it was.
Well, I'm not a spring chicken, so I haven't driven "only a Toyota", lol. I bought the Corolla 4 years ago. For the first time in over 30 years, I needed a car to drive a long distance for work rather than using public transportation. The trip was from my home in central NJ to LGA airport in Queens, a one-way of 66 miles, including major highways and bridges. I needed reliability and good gas mileage. I've owned a lot of cars, but always older models that could be bought for cash so I didn't have a car payment AND a train ticket each month. Before the Toyota, I had a 2001 Jetta that I got in 2007.
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