"luxury" cars - why?

[Anonymous]

Anonymous wrote:I generally stick to Hondas, not because of the purchase price, but because of the maintenance costs. Often I've thought, "I can get a gently used Mercedes or BMW for a similar price as a new Honda, why not do that?" Then I remember that the average maintenance costs are much higher (BMW is more than double Honda), and realize it's not such a good deal after all.

This! I care more about not having to take my car in for repairs all the time than I do about brand names. I buy brand new cheapo Hondas and never have to do anything other than basic maintenance. (Also they don't depreciate as drastically.)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why would someone buy a 70-150k car when a 35k car gets you around just fine? Seems like a waste to me. I have a friend who just bought a Mercedes and I don't think k I could bring myself to do it. I know everyone's values are different but if I got a raise, I would go on vacation and save some.

I bought a 1975 450Sl Mercedes convertible in 1992 for $7,500 and it got totaled in 2012. I had it 20 years, put around $12K worrth of repairs and maint in it over 20 years. My insurance was on average $100 a year as a collector car. When totaled it was appreciated so I got paid out $18,500. I also paid like $25 bucks a year registration and inspection as a classic car.

Net cost was $3,500 to keep it on road with insurance, maint and registration for 20 years. I laughed so hard at neighbors leasing cars for like $350 a month who were impressed at my mercedes. They spend $84,000 on lease payments alone over 20 years.

this is the most obnoxious post I've read. You laugh at people that are impressed by you? It makes you sound more materialistic then you (think) they are. Someone walks by and says "Wow, nice car." and you laugh at them for what... being "stupid" enough to buy what's typical and common in the market? You bought a piece of junk and fixed it up and maintained it. It became a classic - by definition.

What are you driving now? Did you dig around craigs list to find another "classic" for $10,000? If you're driving any type of reasonable car, the joke's on you. I'm "laughing so hard" at you for totaling your classic car. Now you're stuck driving a Honda or Nissan or whatever.

I like to drive classic cars. They appreciate and have low insurance. I have a 1967 Firebird Convertible now. Turns way more heads than a boring Tesla or Lexus. Best part is I have stated value policies so they appreciate. 400 cubic inches under hood and posi rear. Next recession I want to get a triple black Porsche 911 convertible from 1980s. I also had for five years a 1969 Black Charger like in Fast and the Furious. A 1976 CJ7 with lift kid and screaming chicken on hood, Levi package and a CB whip attenna.

I do buy very late model luxury cars cash to drive to work. I had a super mint five series BMW I bought in October 2008 from a hedge fund manger in Greenwich CT. That was show room and 18 months old, paid cash as he had to sell. Good thing cause when that got totaled it did not depreciate that much. Replaced it with a V series Caddie I drive now. Got it from an 82 year old who bought new but too much power for him, only 4k on odometer. That thing is sick has a corvette motor in a caddie from factory, it is black on black, a sleeper car.

My Mercedes was already 18 years old when I bought it and 20 qualifies as classic. It is actually a sweet spot to buy collector cars, they bottom out in price around 17-23 years of age and then go up as a classic. Right now the 1980/1990ss Porsche 911s 1980/1990s BMW 3 series convertibles, Pontiac Soltices, Miatas, Buick Grand Nationals are starting to move up quickly in price.

I owned maybe 20 -25 cars. Bought wife two new ones and daughter one new one. But dont see a reason for straight men to have to buy new.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why would someone buy a 70-150k car when a 35k car gets you around just fine? Seems like a waste to me. I have a friend who just bought a Mercedes and I don't think k I could bring myself to do it. I know everyone's values are different but if I got a raise, I would go on vacation and save some.

I bought a 1975 450Sl Mercedes convertible in 1992 for $7,500 and it got totaled in 2012. I had it 20 years, put around $12K worrth of repairs and maint in it over 20 years. My insurance was on average $100 a year as a collector car. When totaled it was appreciated so I got paid out $18,500. I also paid like $25 bucks a year registration and inspection as a classic car.

Net cost was $3,500 to keep it on road with insurance, maint and registration for 20 years. I laughed so hard at neighbors leasing cars for like $350 a month who were impressed at my mercedes. They spend $84,000 on lease payments alone over 20 years.

this is the most obnoxious post I've read. You laugh at people that are impressed by you? It makes you sound more materialistic then you (think) they are. Someone walks by and says "Wow, nice car." and you laugh at them for what... being "stupid" enough to buy what's typical and common in the market? You bought a piece of junk and fixed it up and maintained it. It became a classic - by definition.

What are you driving now? Did you dig around craigs list to find another "classic" for $10,000? If you're driving any type of reasonable car, the joke's on you. I'm "laughing so hard" at you for totaling your classic car. Now you're stuck driving a Honda or Nissan or whatever.

I like to drive classic cars. They appreciate and have low insurance. I have a 1967 Firebird Convertible now. Turns way more heads than a boring Tesla or Lexus. Best part is I have stated value policies so they appreciate. 400 cubic inches under hood and posi rear. Next recession I want to get a triple black Porsche 911 convertible from 1980s. I also had for five years a 1969 Black Charger like in Fast and the Furious. A 1976 CJ7 with lift kid and screaming chicken on hood, Levi package and a CB whip attenna.

I do buy very late model luxury cars cash to drive to work. I had a super mint five series BMW I bought in October 2008 from a hedge fund manger in Greenwich CT. That was show room and 18 months old, paid cash as he had to sell. Good thing cause when that got totaled it did not depreciate that much. Replaced it with a V series Caddie I drive now. Got it from an 82 year old who bought new but too much power for him, only 4k on odometer. That thing is sick has a corvette motor in a caddie from factory, it is black on black, a sleeper car.

My Mercedes was already 18 years old when I bought it and 20 qualifies as classic. It is actually a sweet spot to buy collector cars, they bottom out in price around 17-23 years of age and then go up as a classic. Right now the 1980/1990ss Porsche 911s 1980/1990s BMW 3 series convertibles, Pontiac Soltices, Miatas, Buick Grand Nationals are starting to move up quickly in price.

I owned maybe 20 -25 cars. Bought wife two new ones and daughter one new one. But dont see a reason for straight men to have to buy new.

Let me geuss, you spend one day a wek waxing them

[Anonymous]

Anonymous wrote:

Anonymous wrote:I generally stick to Hondas, not because of the purchase price, but because of the maintenance costs. Often I've thought, "I can get a gently used Mercedes or BMW for a similar price as a new Honda, why not do that?" Then I remember that the average maintenance costs are much higher (BMW is more than double Honda), and realize it's not such a good deal after all.

This! I care more about not having to take my car in for repairs all the time than I do about brand names. I buy brand new cheapo Hondas and never have to do anything other than basic maintenance. (Also they don't depreciate as drastically.)

This logic would make sense, except that Consumer Reports now rates Honda below average in terms of reliability, and below BMW. So you are more likely to take a Honda in for repair than BMW. Though I do agree that a repair on a BMW is likely going to cost more than a repair on a Honda.

[Anonymous]

The “luxury car-why” question is no different than any other consumer item purchase other than it is often one of the more expensive items people will ever own, most people have one, and it is a highly visible item. Therefore, it is often (correctly or incorrectly) used as a gauge to assess income/wealth.

Personally, I like some luxury cars over “regular” cars - same as cotton is “just fine” but hey, cashmere is even better and cosier (but more expensive) so yes, I like cashmere better. Doesn’t mean I always buy it and doesn’t mean I don’t think cotton is fine, too. But let’s be honest - cashmere is very nice.

Cars are just such a HOT button for people.

Fun fact: 20% of all new vehicles acquired in USA are leased. Number of all new Mercedes acquired that are leased is...50%

[Anonymous]

Anonymous wrote:

Anonymous wrote:I make a lot of money and just can't see myself spending $100,000 on a car. But, I will spend $35-40,000 on a used Mercedes coming off a 3 year lease with only 20,000 miles. I get it for about 60% of the original price. So I drive a nice luxury car without the luxury price.

+1 this is my DH except he prefers a 1-2 year old used Audi

about to buy a 2016-17 Range Rover, same idea

[Anonymous]

Anonymous wrote:
Fun fact: 20% of all new vehicles acquired in USA are leased. Number of all new Mercedes acquired that are leased is...50%

The Mercedes are going to small business owners as a business expense, that's why.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I generally stick to Hondas, not because of the purchase price, but because of the maintenance costs. Often I've thought, "I can get a gently used Mercedes or BMW for a similar price as a new Honda, why not do that?" Then I remember that the average maintenance costs are much higher (BMW is more than double Honda), and realize it's not such a good deal after all.

This! I care more about not having to take my car in for repairs all the time than I do about brand names. I buy brand new cheapo Hondas and never have to do anything other than basic maintenance. (Also they don't depreciate as drastically.)

This logic would make sense, except that Consumer Reports now rates Honda below average in terms of reliability, and below BMW. So you are more likely to take a Honda in for repair than BMW. Though I do agree that a repair on a BMW is likely going to cost more than a repair on a Honda.

As I said, 10 year maintenance costs on a BMW are more than double Honda, and triple Toyota. Lexus is surprisingly low, doubtless because of the Toyota affiliation.

https://www.yourmechanic.com/article/the-most-and-least-expensive-cars-to-maintain-by-maddy-martin

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I generally stick to Hondas, not because of the purchase price, but because of the maintenance costs. Often I've thought, "I can get a gently used Mercedes or BMW for a similar price as a new Honda, why not do that?" Then I remember that the average maintenance costs are much higher (BMW is more than double Honda), and realize it's not such a good deal after all.

This! I care more about not having to take my car in for repairs all the time than I do about brand names. I buy brand new cheapo Hondas and never have to do anything other than basic maintenance. (Also they don't depreciate as drastically.)

This logic would make sense, except that Consumer Reports now rates Honda below average in terms of reliability, and below BMW. So you are more likely to take a Honda in for repair than BMW. Though I do agree that a repair on a BMW is likely going to cost more than a repair on a Honda.

As I said, 10 year maintenance costs on a BMW are more than double Honda, and triple Toyota. Lexus is surprisingly low, doubtless because of the Toyota affiliation.

https://www.yourmechanic.com/article/the-most-and-least-expensive-cars-to-maintain-by-maddy-martin

LOL, no. They "found the amount spent on every two oil changes (as oil changes are generally done every six months)." This ignores the fact that BMW and MB all use long cycle oil changes of 1 oil change for every 12 months. I also don't see how this study factors in the fact that BMW includes free service for the first 3 years.

Again, I agree that it costs more to maintain a BMW than a Honda, having owned both for the past 15 years. But people should be realistic about the differences and not ignore the fact that BMW now ranks higher in reliability than Honda.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I generally stick to Hondas, not because of the purchase price, but because of the maintenance costs. Often I've thought, "I can get a gently used Mercedes or BMW for a similar price as a new Honda, why not do that?" Then I remember that the average maintenance costs are much higher (BMW is more than double Honda), and realize it's not such a good deal after all.

This! I care more about not having to take my car in for repairs all the time than I do about brand names. I buy brand new cheapo Hondas and never have to do anything other than basic maintenance. (Also they don't depreciate as drastically.)

This logic would make sense, except that Consumer Reports now rates Honda below average in terms of reliability, and below BMW. So you are more likely to take a Honda in for repair than BMW. Though I do agree that a repair on a BMW is likely going to cost more than a repair on a Honda.

As I said, 10 year maintenance costs on a BMW are more than double Honda, and triple Toyota. Lexus is surprisingly low, doubtless because of the Toyota affiliation.

https://www.yourmechanic.com/article/the-most-and-least-expensive-cars-to-maintain-by-maddy-martin

LOL, no. They "found the amount spent on every two oil changes (as oil changes are generally done every six months)." This ignores the fact that BMW and MB all use long cycle oil changes of 1 oil change for every 12 months. I also don't see how this study factors in the fact that BMW includes free service for the first 3 years.

Again, I agree that it costs more to maintain a BMW than a Honda, having owned both for the past 15 years. But people should be realistic about the differences and not ignore the fact that BMW now ranks higher in reliability than Honda.

If you are agreeing with the point, why on earth are you arguing the point?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I make a lot of money and just can't see myself spending $100,000 on a car. But, I will spend $35-40,000 on a used Mercedes coming off a 3 year lease with only 20,000 miles. I get it for about 60% of the original price. So I drive a nice luxury car without the luxury price.

+1 this is my DH except he prefers a 1-2 year old used Audi

about to buy a 2016-17 Range Rover, same idea

My three adult kids do this as well....along with my DH. None of them drive a lot of miles but they want nice cars with excellent safety features because they all have babies and toddlers.

[Anonymous]

I say the same thing, BUT there are a ton of things I spend copious amounts of money on that people probably think is crazy. Examples:

Travel for a month all over an African country with my family, cost nearly ad much as a luxury car- you can say, why not go to Europe or the many amazing places in the US, it is much cheaper?

Massive backyard build out, cost as much as a modest home in middle America. -you can say why not just slap on a nice deck? Why did you have to get all that other stuff

$400 on my hair every 6 weeks- you can say, why not use box dye or go to a cheaper salon, there are great hairdressers that cost half the price?

$800/mo for a personal trainer.- why not just go to Orange Theory? It is $700 less a month?

I drive an 8yr old Japanese minivan. I dont care about cars much like may other people dont care about travel in remote, but expensive places, hair, backyards, and trainers.

[Anonymous]

Anonymous wrote:I say the same thing, BUT there are a ton of things I spend copious amounts of money on that people probably think is crazy. Examples:

Travel for a month all over an African country with my family, cost nearly ad much as a luxury car- you can say, why not go to Europe or the many amazing places in the US, it is much cheaper?

Massive backyard build out, cost as much as a modest home in middle America. -you can say why not just slap on a nice deck? Why did you have to get all that other stuff

$400 on my hair every 6 weeks- you can say, why not use box dye or go to a cheaper salon, there are great hairdressers that cost half the price?

$800/mo for a personal trainer.- why not just go to Orange Theory? It is $700 less a month?

I drive an 8yr old Japanese minivan. I dont care about cars much like may other people dont care about travel in remote, but expensive places, hair, backyards, and trainers.

It's all about priorities but I do think the $800 for a trainer and $400 for your hair is a bit much! Now if you look incredibly hot then it is money well spent!

[Anonymous]

I like to know I can afford it but don't need it. But I waste money in other areas so it all evens out. It's the people who can't afford it but have a need for it and get it that concerns me.

[Anonymous]

Some people just like cars, nothing wrong with that. Everyone has that one thing that they spend more money on than others. Cars might just be that thing for them.