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My buddy has bought 3 brand new Ferraris......first one he broke even after 6000 miles. 2nd one he kept 4 months, 1600 miles and sold it for a $40,000 profit. 3rd one is a rare model and he was offered $50,000 over what he paid but declined, thinking it is worth 75K+ over.
Anyone buying these used cars from him are paying over sticker and paying more than he did new!
I have never owned a new vehicle. You know, the fresh off the showroom floor with that new car smell. I was curious to find out how many others (mostly over the age of 30) have never had a new car.
My first car was a 1979 Mustang that I bought in 1982. I then had a 1981 Monte Carlo in 1988, a 1979 Datsun 810 in 1990 and then a string of 1985's in the early-mid 90's (Firebird, Pontiac 6000, Honda Accord). In the late 90s I had a 1988 Volvo and then a 2000 Subaru I bought in 2002. I currently have a 2007 Pontiac G6 that was my daughter's for a few years before she bought a new car and we traded my Subaru for it. During all this time, I also had a few beaters in the mix.
I have dreamed of having a new vehicle but, even now, I find myself looking at purchasing a used Kia Optima.
So, who else has never had a right off the assembly line new vehicle?
I have never owned a new vehicle, actually none of my friends have either. Pretty much that is a rich mans thing. Most of my friends only make around 400k to 750K a year. I would guess if you made take home of one million or more you could afford it.
I have never owned a new vehicle, actually none of my friends have either. Pretty much that is a rich mans thing. Most of my friends only make around 400k to 750K a year. I would guess if you made take home of one million or more you could afford it.
Owning a Ferrari, yeah that's probably a rich mans thing. A new vehicle in general? Not at all. I'm by no means "rich" and I just ordered my 3rd new vehicle since 2012. My '12 Jeep and my '14 Jeep I bought right off the lot, the '14 I bought before it was even delivered. My '16 was ordered since no one had the options I wanted, I'll get it around April. We do a decent job of managing money, my wife has a 2004 Camry that she's finally decided she wants to replace. My motorcycle, I bought new when I totaled my last one, just paid it off. That one I'll keep since there's no real advantage to buying a new one and I'm happy with it. I also don't make anywhere near 400 grand a year.
Location: In a little house on the prairie - literally
10,202 posts, read 7,866,823 times
Reputation: 4559
Quote:
Originally Posted by fallingwater
Same for me. A year old or two is fine and usually comes with a considerable amount of savings. I leased a car last year after we gave our son the "junker". I work from home so I don't drive much. Found an inexpensive, low mile lease and it feels like a rental to me. I think I was the most unenthusiastic customer my sales person ever had. The car came with enough standard features that were fine with me. The car is nice just a regular sedan and I have zero attachment. If my son wants to take another car, I have him drive our car we bought. I don't like him driving the lease because I am a bit paranoid about car dings or what not that might cost me a bundle when I turn it in.
^^^^
This is the right attitude towards leases.
Many will spin it as "the proper financial decision". Others obtain more vehicle than they can afford, you know, that keeping up with the Rodriguezes thing.
Location: In a little house on the prairie - literally
10,202 posts, read 7,866,823 times
Reputation: 4559
Quote:
Originally Posted by Tiffer E38
And I feel sad for those people.
Why?
I've not bought new since I was 23, and have had no payments since that car. Do you have any idea how much goes into retirement funds by not buying new? I'm 65 this year, and prefer to have the money for my house, my condo in Florida and my sailboat. If I had of bought new, those last two would not be on the radar screen.
Life is better living experiences, rather than objects.
I've not bought new since I was 23, and have had no payments since that car. Do you have any idea how much goes into retirement funds by not buying new? I'm 65 this year, and prefer to have the money for my house, my condo in Florida and my sailboat. If I had of bought new, those last two would not be on the radar screen.
Life is better living experiences, rather than objects.
You can have living experiences AND be a car guy, you know. One doesn't preclude the other. I'm a car guy, have had many cars (over 130 in the last 38 years), none of which were "just transportation" (and a few of them were new cars, including *gasp* leased ones...) and I've been to the Caribbean a few times, Scotland, Italy, go RVing once or twice a month, and have a fun, enjoyable life.
I was responding to THIS statement:
Quote:
cars are nothing but transportation to some people
And I feel sorry for those people. (with a smiley after it to say that I'm at least partially joking).
I grew up below the poverty line, worked hard to get where I'm at and am not "lucky" nor did I have anything handed to me.
After all the responses, I now feel better about not being able to keep up with the Jones'. I've always thought about a new car but even now when I can afford one, I still find myself looking at used vehicles. I also hate having a huge car payment (I had loans on four of the cars I bought used). Paying less than $300 a month is so much better than paying over $500. My current vehicle is a 2007 with 102,000 miles on it. Runs like a champ and still looks good. I still daydream about getting a newer vehicle but my frugal side won't let me so I think I'll keep what I have for a while and then go used again.
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