View Single Post
      12-13-2019, 10:17 AM   #690
Luxury at the redline :)
Poochie's Avatar

Drives: 2016 M2
Join Date: Aug 2012
Location: NYC

iTrader: (3)

Originally Posted by Bob Shiftright View Post
Originally Posted by Poochie View Post
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..
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
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.
Appreciate 2