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Old 02-25-2015, 11:36 AM
 
Location: Los Angeles (Native)
25,303 posts, read 21,454,917 times
Reputation: 12318

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Yeah I agree most cars do go down in value. Also for the classics it takes a lot of work and money to maintain them to keep their value. Most classics don't make sense to drive as a daily driver. I did buy a classic car when I first got my first job out of college. It was a 1962 cadillac, it was a nice car but definately not show quality. I pretty quickly realized I didn't have the skills or funds the make it what it should be and luckily had a friend buy it off me for what I had into it. He restored it nice and put a real nice paintjob on it.

I agree that some people can afford the nice cars while others have them but can't really afford them and are struggling .

I don't think a lot of people realize what that big car payment could be going towards instead. In reality it could mean the difference between being able to retire or not retire, or take that 'expensive vacation' . Personally I'd rather enjoy experiences like travelling or going to concerts or out to eat versus spending that much on a car...but of course if you can have it all that's great...most people aren't in that position though in L.A or elsewhere. Even in L.A County median HOUSEHOLD income is $55,900.

17.8% of the people here are below the poverty level.
Los Angeles County QuickFacts from the US Census Bureau

There are some good deals on cars for sure. I was just watching a Dave Ramsey thing about 'driving for free'. It said that 1/3 of American buys a new car for $26,000 and the payment is $475. A lot of people always have a car payment because they get a new car pretty often. Those are payments keep people from getting ahead and investing .

Little short 5 minute thing if anyone wants to check it out
Drive Free. Retire Rich.

You can buy Rolls Royces for cheap , but the issue with them is the big repair costs. I recently spoke to a guy that was trying to sell his old Rolls Royce and he was having a really hard trying to sell it because it needed repairs. I think he was only looking to get $7,500 for it or something.

There are quite a few rolls royce on craigslist
los angeles cars & trucks - craigslist

I do think a Rolls would definately make one 'stand out' more versus pretty much any 'standard' BMW or Mercedes. If that is what one is looking to do.

There are older ones that are a lot cheaper , but this one from 1999, is pretty modern looking and most people wouldn't even realize it's a 1999
1999 Rolls Royce Silver Seraph

If someone is driving one of those , a lot of people will assume the driver has money. For $41k it's probably around what one would pay for a C-class mercedes new . Not that all 'luxury' car drivers want people to think they have money or are 'successful' but I'm sure a good amount of them do.
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Old 02-25-2015, 11:53 AM
 
329 posts, read 627,966 times
Reputation: 348
New cars don't interest me anymore. Used to own back-then new mercedes SUV. Now I drive 2010 prius, 93 lexus, and 93 TTZ by choice. I can afford nice cars but I'd rather invest with the money. I see too many people driving nice cars and struggling. One of my neighbors have new bmw x3 and 7 series in their garages but I know they're knee deep in credit card debt.
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Old 02-25-2015, 12:29 PM
 
Location: West Hollywood, CA
1,238 posts, read 1,830,409 times
Reputation: 987
Quote:
Originally Posted by Pennychaser11 View Post
New cars don't interest me anymore. Used to own back-then new mercedes SUV. Now I drive 2010 prius, 93 lexus, and 93 TTZ by choice. I can afford nice cars but I'd rather invest with the money. I see too many people driving nice cars and struggling. One of my neighbors have new bmw x3 and 7 series in their garages but I know they're knee deep in credit card debt.
A gay couple I know just bought two new Lexuses in the past year. I keep thinking why are both of you still living in a tiny one bedroom apartment and driving Lexuses. To each their own; priorities, I guess.
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Old 02-25-2015, 01:56 PM
 
Location: West Los Angeles and Rancho Palos Verdes
13,583 posts, read 15,659,695 times
Reputation: 14049

https://www.youtube.com/watch?v=qDdZHIuAzVQ
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Old 02-25-2015, 02:00 PM
 
Location: Nashville TN
4,918 posts, read 6,469,326 times
Reputation: 4778
Cars are overpriced and a depreciating asset, no point in owning a super fancy car unlike you are single and want a gold digging woman. My dad is a Doctor and drives a Volvo and a Subaru and he makes 400k a year. Cars have nothing to do with home successful you are.
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Old 02-25-2015, 03:37 PM
 
Location: West Los Angeles and Rancho Palos Verdes
13,583 posts, read 15,659,695 times
Reputation: 14049
Quote:
Originally Posted by UKWildcat1981 View Post
Cars are overpriced and a depreciating asset, no point in owning a super fancy car unlike you are single and want a gold digging woman. My dad is a Doctor and drives a Volvo and a Subaru and he makes 400k a year. Cars have nothing to do with home successful you are.
OTOH, there are men who buy high performance cars not because they're looking to attract women with it or impress the neighbors, but rather because they enjoy high performance vehicles, especially on the weekend when they go canyon carving or to a local autocross event. Not to mention have a lot of fun on freeway onramps, interchanges, areas of Sunset where cops can't set up a speed trap because there's nowhere to hide, etc.

And when you get that space cadet who's backing up traffic because they don't know whether they want to make a turn or not, it's great stress relief to pull around them just as you're downshifting and rolling on the power, which I've heard is still fun even for somebody driving an automatic.
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Old 02-25-2015, 05:00 PM
 
Location: OC/LA
3,830 posts, read 4,662,889 times
Reputation: 2214
Quote:
Originally Posted by UKWildcat1981 View Post
Cars are overpriced and a depreciating asset, no point in owning a super fancy car unlike you are single and want a gold digging woman. My dad is a Doctor and drives a Volvo and a Subaru and he makes 400k a year. Cars have nothing to do with home successful you are.
Well I guess we should all be like your dad?
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Old 02-25-2015, 10:16 PM
 
Location: Pasadena, CA
362 posts, read 543,865 times
Reputation: 417
Quote:
Originally Posted by HyperionGap View Post
Well I guess we should all be like your dad?
I aspire to be like UKWildcat1981's dad! Unfortunately, I still get side-tracked by pretty, shiny things. I'm working on that.
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Old 02-25-2015, 10:47 PM
 
Location: Los Angeles (Native)
25,303 posts, read 21,454,917 times
Reputation: 12318
Quote:
Originally Posted by Exitus Acta Probat View Post
Hard to say if she was a gold digger or if she just got pissed off he was lying about being the owner of the lambo.
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Old 02-25-2015, 10:49 PM
 
Location: Los Angeles (Native)
25,303 posts, read 21,454,917 times
Reputation: 12318
Quote:
Originally Posted by UKWildcat1981 View Post
Cars are overpriced and a depreciating asset, no point in owning a super fancy car unlike you are single and want a gold digging woman. My dad is a Doctor and drives a Volvo and a Subaru and he makes 400k a year. Cars have nothing to do with home successful you are.
You're dad could be using that 400k to buy a Lambo every year.
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