Quote:
Originally Posted by Bob Shiftright
Quote:
Originally Posted by Poochie
That stings a little but then I remember BMW said over 70% of their US consumers lease or finance their vehicle, so us "buy now, pay later" folks are in good company..
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Or bad company!
I've come across the financial advice, "You shouldn't spend more than ____ % of your gross income on ____."
Cars can be an expensive hobby, but they are probably cheaper than younger women or drugs.
"It were not best that we should all think alike; it is difference of opinion that makes horse races." -Mark Twain
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I've financed 6 cars so far, 4 Mini/BMWs and all paid off for successfully.
I treat credit as a financial tool and not a declaration of my worth or potential.
I'll admit, I don't have all of 85k, liquid, to drop on a car right now but doesn't mean it can't get it done.
But if I my grandma heard I spent that much on a depreciating asset, she would spin in her grave for making such a poor financial decision.
Seriously, I don't care how well-off one feel that they are, a $1,500 a month car payment, before insurance and expendables is ludicrous, when you lease a Rolls Royce for $2,000.
Now, if you can swing it all call cash, good for you! But you shouldn't make judgment on others without fully knowing their perspective on purchasing power.