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But the truth if I step back a minute to THINK rationally is --I DO NOT know either of their financial situations, and one of them is married, so 2 incomes. Well, if I'm SINK, unless my income is high enough I just have to accept that I can't have what a 2 income couple has. Then again if they have 2 incomes and kids, and TWO cars, why shouldn't I be able to have a luxury car? Since I DO NOT have some of their expenses so shouldn't that make up for the fact that I only have one income? But are they saving for retirement? Who knows. From the OUTSIDE, it does sure look like they're doing better than me. And they may INDEED be doing better than I am. BUT the older I get, I try to cut that thought process and that line of thinking off right at the start. "NO, I don't know their situation, what looks good may not be -- so don't go there."
i've never had the thought track you just typed. i see cars on the road and i think "nice car" or "ugly car". if i think it's a nice car, i might mentally note it as something I'd consider test driving when i need a new car.
This is so true. Is anyone genuinely impressed by someone because of their car? I can't imagine.
when i see some of the ladies accompanying some of the men in NYC who happen to be driving a very very very nice car...it leads me to think that yes, some people are genuinely impressed because of their car. lol
It's honestly not that hard to afford a "luxury" car. People make choices. Bringing your lunch to work every day instead of eating out will save you about 140 a month.
Not getting your 5 dollar cup of coffee every morning will save you 100 a month.
That right there is a 5 year 14k loan payment a month (240 a month).
So say you can afford a 20k loan if you stop eating out and getting cofee you can afford a 35k loan. Throw in some negotiating (7-8 off price), a trade-in (7-8k) and a downpayment (5k) you have yourself a 54-56k car.
Just using the food example and coffee example, because most people I know at my work eat out almost every day and also get coffee every day.
very very true. i've been tempted to take the plunge on a few cars i could technically "afford". i've even had this conversation with friends who wonder why i didn't purchase a large house. it wasn't that i couldn't afford a larger house. it wasn't that i couldn't splurge on a Shelby Mustang a few years ago. I could easily make cuts to my monthly food spending. I could more painfully make significant cuts to my monthly food spending. But I don't want to do those things.
At the same time, I also don't want to be driving around in an old honda civic either. While that would be very frugal of me, there are certain things I wanted in a car. So i spent money on those things. I love my cars. I really don't want to get rid of our one car, but we're growing out of it now and it's just becoming too small for us. But I'm still trying to figure out if there's a way to squeeze some more time out of it if we can fit 3 kids into it. hehehe
^^pinpig But unless we're Trump, Gates or Buffett don't MOST of us make choices about what we buy -- choosing to pay for one thing over another.
If a person eats out every night, for example, and they're willing to to now just buy groceries and cook at home like most people do. Or stop buying gourmet coffee at 5.00 a pop, Which are already both luxuries in themselves, then technically the person is just 'shifting their 'disposable' income spending.
So that's not as 'unaffordable" as it might seem. It's not like they're not paying a utility or NOT eating -- to pay for the car, they're cutting something that --sure -- we presume they enjoyed doing, but they're apparently also willing to drop one treat for another. IF they're maxing out the 401K, and saving money besides which they very well could be doing -- I wouldn't say they are "posing like they can afford something they can't afford."
don't MOST of us make choices about what we buy
-- choosing to pay for one thing over another.
If a person eats out every night, for example...
Or stop buying gourmet coffee...
Your examples are of petty daily decisions with no commitment beyond that moment
vs the long term and high amount contract obligations. Want to try for closer?
Quote:
IF they're maxing out the 401K, and saving money besides which they very well could be...
Sure; and this is also exactly where the thread started.
So far all we have -can have- are assertions and conjecture (as regards the OP).
In general though, which will get imputed to him as well...
few will make such choices of indulgence responsibly.
If you can't afford a car without having to cut your spending in other areas (coffee, food, travel, etc)... then you CAN'T afford the car.
I'd rather you stop posing like you can afford something you can't afford.
That's my 2 cents.
That's really not the point. I bring my lunch to work because it's healthier. I don't drink coffee. I didn't "cut" my spending in other areas. I made decision that it would be better for me to to bring my lunch from a health perspective. It also happens to be cheaper. Buying a more expensive car was not the reason I made these decisions. A side effect of these decisions is that I have an extra 250 dollars of disposable income a month.
So while many people may think the car is too expensive, it really wouldn't be if they didn't spend 20 dollars a day on things that would/could cost 3-4 dollars a day.
The way you worded your "2 cents" was to infer that the person eating out for lunch and getting high-end coffees every day can somehow afford that lifestyle, but the person who chooses to spend that money on a car somehow can't afford their lifestyle?
That's really not the point. I bring my lunch to work because it's healthier. I don't drink coffee. I didn't "cut" my spending in other areas. I made decision that it would be better for me to to bring my lunch from a health perspective. It also happens to be cheaper. Buying a more expensive car was not the reason I made these decisions. A side effect of these decisions is that I have an extra 250 dollars of disposable income a month.
So while many people may think the car is too expensive, it really wouldn't be if they didn't spend 20 dollars a day on things that would/could cost 3-4 dollars a day.
The way you worded your "2 cents" was to infer that the person eating out for lunch and getting high-end coffees every day can somehow afford that lifestyle, but the person who chooses to spend that money on a car somehow can't afford their lifestyle?
I see your point as well... choosing where to spend your money can allow you to pay for a more expensive car.
My point is - if you're going to buy a $50K car, you better be making more than enough to cover car costs without having a budget tight enough that requires you to save in other areas to afford the expensive car. I'm saying that you should have the disposable income to justify the luxury car.
People don't buy yachts if they don't have the lifestyle that backs it up.
In my opinion - if you want to roll in a luxury car (a >$50K car), you better be able to still afford your high end coffee, your fancy shoes, and you better have retirement savings AND health insurance all taken cared for. You better not be rolling in my ER with an Escalade on medicaid. (Extreme example, but you get the point).
I see your point as well... choosing where to spend your money can allow you to pay for a more expensive car.
My point is - if you're going to buy a $50K car, you better be making more than enough to cover car costs without having a budget tight enough that requires you to save in other areas to afford the expensive car. I'm saying that you should have the disposable income to justify the luxury car.
People don't buy yachts if they don't have the lifestyle that backs it up.
In my opinion - if you want to roll in a luxury car (a >$50K car), you better be able to still afford your high end coffee, your fancy shoes, and you better have retirement savings AND health insurance all taken cared for. You better not be rolling in my ER with an Escalade on medicaid. (Extreme example, but you get the point).
If you can't afford a car without having to cut your spending in other areas (coffee, food, travel, etc)... then you CAN'T afford the car.
I'd rather you stop posing like you can afford something you can't afford.
That's my 2 cents.
so, if i choose to spend money on "luxury" food vs. a more expensive car, then decide i would rather the more expensive car than the "luxury" food, i can only "afford" it if i have enough for both?
that's some interesting logic. i don't buy a car every year. so i'll spend my disposable income as i please. but if i want to spend more money on something, I can tap into my discretionary spending if i chose to.
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